John Carlson is responsible for strategy, operations, new business development, and property portfolio performance for over 19,000 luxury apartment units across Arizona and Nevada for Mark Taylor. Jeff Mark and Scott Taylor founded the company in 1985. Today, Mark Taylor is the largest multifamily developer in the state of Arizona; the company has built more than 20,000 units there.
Patrick Antrim, Founder of Multifamily Leadership, and Tanner Bickelhaupt, CEO and Founder of the Tanbic Company discuss valuing real estate and cap rate versus return on cost.
Patrick Antrim, CEO of Multifamily Leadership, discusses capital stack with Tanner Bickelhaupt, CEO and Founder of the Tanbic Company.
Steve La Terra started TerraLane Communities in 2019, aiming to build detached one-story one- and two-bedroom apartments. The one-bedrooms are paired within one structure, as are the two-bedroom units. These are not designed for family renters; TerraLane is renting to apartment dwellers that fall primarily into two categories: the Millennial renter, and the moved-out empty nester.
Danny Court is part of a group of economists focused on economic forecasting and how that plays into real estate. For multifamily, Elliot D. Pollack & Company is more involved with the planning and development part of things – scoping out sites, navigating regulatory or political issues, helping with zoning conflicts. They’ll get involved in government if necessary.
Patrick Antrim, CEO of Multifamily Leadership, brings up that timing of money coming in or things like assumptions and expectations can create gaps in this conversation with Tanner Bickelhaupt, CEO and Founder of the Tanbic Company.
Bickelhaupt says another surprising thing about that market was how quickly people wanted to move in immediately after signing leases. At first, he thought that was a red flag. It was also difficult to turn things around that fast.
Patrick Antrim, CEO of Multifamily Leadership says he was trained by a developer, and they tend to have a long-term view of things. A syndicator might not bother to fix long-term problems, which affects the brand. Now, Tanner Bickelhaupt is starting developing work.
Tanner Bickelhaupt has been investing, developing, and looking at new deals for the full cycle. He owns and operates a management company and has been successful across several asset classes in different markets. He’s also made it through different economic cycles and come out on top.