In many ways, we found a deal that really spoke for itself, and we gave it a way, and it was a great market [overlap talk]. Kate earned her B.S. The additional shot of funds from these investors helped complete deals that otherwise may not have happened, Landes added. 5 Michael Richards (Cosmo Kramer) - $45 Million Though he delighted audiences everywhere as Kramer in Seinfeld, Michael Richards has had a few hiccups in his career along the way that have affected him for years after they occurred. By the time the partners closed a $151 million fund raised from 450 investors last June, they'd transformed the company into something different: a real estate private equity fund that uses crowdfunding-like tactics to raise money from family offices and high-net-worth individuals. Tune in next week for our next show. If you get that right, then thats who you really want to put your money with, whether its a syndicate or a fund. He is a go-to as it relates to individual investing from the likes of Forbes and Huffington Post, a frequent speaker on the circuit. This is anywhere from 20 to 25%. We dont have any debt placement fees. Can we actually improve it and get what we think? Michael serves as Origin Investments in-house general counsel. 11. With Michael's leadership, Origin has $1 billion in equity under management and has executed more than $2.6 billion in real estate transactions in fast-growing markets throughout the U.S. Yeah, and it was our second asset in Naperville. If fund for, look for changes coming up in that strategy, and more of a hybrid evergreen to buy-fix-sell to more of a buy-fix-hold. Im Rod Khleif and Im thrilled youre here. So I spent the next year, youd think this would be a slam-dunk, but working between the lawyers and the courts, flying down to Austin and testifying, and trying to wrestle this away. Then in April 2016, she joined the Origin family. Prior to joining the Origin team, Jacob worked at KPMG as a Real Estate EVS Senior Associate where he performed over $15.0 B in property and portfolio level valuations across all asset classes. As Principal, David co-chairs the Investment Committee and oversees the analysis, acquisition, and asset management teams at Origin. +1-941-225-8477. In his free time, he enjoys playing basketball, traveling and spending time with his friends and family. Prior to joining Origin, Gina worked for some of the leading luxury hotel brands, including the Peninsula Chicago and Fairmont Grand Del Mar, San Diego. There she assisted in the evaluation of underlying commercial real estate loans within rated transactions, conducted site inspections of all major property types and composed Presale Reports distributed to investors. . You look at it today, and its worth two to three times more than what they sold it for. In 2007, Michael Episcope co-founded Origin Investments, a top-decile fund manager that helps high-net-worth investors, family offices and registered investment advisors grow and preserve wealth by providing best-in-class real estate solutions. Before joining Origin Investments in 2015, Marc served as Vice President of Asset Strategy at Lightstone, a New York investment firm with $2 billion of assets under management. Prior to Centro, Geoff spent over a decade in marketing for higher education institutions, non-profits, and startups. Rod Khleif: Hey, my net worth went up $17 million in 06. Give us an idea of what sorts of things you might do to add value to a nicer asset like that. I think when we create structures here; we create structures around how we want to invest our capital and that a fund has a couple of advantages over an individual deal syndication. Tijana joined our team as an Investment Management Analyst. Phil received a Bachelor of Science with a major in Finance from the Wharton School of Business at the University of Pennsylvania. There is where she assisted in all real estate transactions including Residential, Commercial, and Real Estate Bank Owned properties. Beautiful B-plus asset, early 80s vintage, owned by the same individual who built it, his children managed the property, which thats something thats unique and they [overlap talk], Rod Khleif: Okay. Michael Episcope: I mean a lot of people, Im probably guilty of it as well, but a lot of people correlate, because they have money, they know more than the other person. Taking into account various assets, Michael's net worth is greater than $499,999; and makes between $150 - 174,999 a year. Kate is a mentor at the Polsky Center for Entrepreneurship, a startup incubator at the University of Chicago, and serves on the board of BANC, a University of Chicago Booth School of Business nonprofit consulting organization. Michael Episcope: I was probably 40 years old then. degree with honors in Electrical Engineering from Izhevsk Technical State University in Russia, and received her MBA from The University of Chicago Booth School of Business. She graduated from Marquette University with a Bachelor of Business Administration in Real Estate and Finance and was a member of the Marquette Women's Soccer Team. Michael brings 25 years of investment and risk management experience to the company and believes that calculat. We both had a lot of good friends; high net worth. Michael Episcope: Yeah. a private equity real estate firm serving nearly 3,000 high-net-worth individuals. I think that the risk is exponential when you start managing other peoples money. In his free time, he enjoys spending time at the lakefront, trying new foods, and traveling. Jonathan joined the Origin team in early 2021. Geoff holds a Bachelors degree with a double major in Sociology and English from College of the Holy Cross and a Masters degree in Strategic Marketing and Communications from DePaul University. Before Equity Office Properties, Tom worked as a commercial credit analyst at JP Morgan Chase. As one of Americas top real estate professionals Rod mentors business leaders and entrepreneurs through world-class speaking events, books, and training courses online and around the world. She also appeared in the romantic comedy How to Lose a Guy in 10 Days and in the Academy Award . Guys, if you wanna reach out to Michael, hes at OriginInvestments.com. And sometimes, the worst that can happen is that you make a bad decision but have a good outcome. Adolfo Bermeo. Michaels done pushing a billion dollars worth of transactions, with a B. Committed vs Invested equity Michael Episcope: Where I kick myself, as I look back, is I cant believe I didnt do more due diligence, and invested with this guy. Finishing his Master of Accountancy (Also from MSU) in 2020. Twenty per. Cause this is, its a little new to me. Aenean nec cursus diam, eget consequat mauris. We got this thing for a song. No. Youre coming in at 33%. Since 2003, Dave has been involved with the sourcing, closing and execution of more than $1.9 billion of commercial real estate acquisitions, dispositions and development projects. Katina is a Senior Associate on the Investor Relations team. Those of you that are doing your own syndications, do not short-circuit that process. Michael Episcope: I think its not that we believe in timing the market. If we make $100,000 commitment to fund, we dont take it all upfront because we dont have a portfolio of assets. Prior to Lightstone, he performed as a trusted advisor to the HSBC Amanah Global Properties Income Fund ("GPIF"). Rod Khleif: Or you could get lucky on a deal and have a homerun, and youre touting that success, and it was just luck, sometimes. Michael Jordan's net worth is $2.2 billion. Michael Episcope: Then we had nine that we bought out over time. She is on the Young Adult Board for Horizons for Youth, a Chicago non-profit, and is a member of CREW's Network Liaison Committee. Michael brings 25 years of investment and risk management experience to the company and believes that calculated risk-taking in inefficient markets is the k His parents are doctors. Cardone currently owns more than 4,000 multifamily units with a current portfolio value of $350,000,000. And he actually did. Aaron lives with his wife and daughter in Alpharetta, GA. He also enjoys performing sketch and improv comedy at the Second City. Michael and his husband have been residents of the city of Chicago for over twenty-five years. Prior to joining PRG, she served as Financial Analyst for DBRS, a credit rating agency for commercial mortgage-backed securities, from 2015-2017. He was twice named a top 100 trader by trader monthly magazine. Maybe youre putting in washers and dryers. Summary. I was sort of the 35 years of age, I was the old guy in the class, which was kinda fun as well but I just believe in continuing education, learning and things like that. Why the particular asset classes that you focused on. Ivette received her Bachelor Degree in Law Enforcement and Justice Administration in 2015 and obtained her Paralegal Certificate from an ABA Approved Program at the College of Lake County in 2021. Developers have enjoyed years of consistent, reliable rental rate growth, with the average rent growing 13.5% in 2021 and another 6.2% last year, according to Yardi Matrix. Marc lives with his wife Carey and two daughters, Rachel and Hailey, in a north suburb of Chicago. As of 2023, Michael Michele's net worth is $100,000 - $1M. Risk management is one of the things we do well, and its also We talk about and we meet investors, its something we talk about incessantly, and something maybe we obsess about a little bit here; about what our growth rates gonna be? He was awarded the MSU Evans scholarship for an outstanding caddie record and academic excellence; Graduating from Michigan State in 2019 with a Bachelor of Science and minor in international business. Everybody knows my $50 million seminar in 08, and Ive been through other cycles as well that were equally impactful, negatively impactful. He is co-CEO, co-chairs the investment committee and oversees investor relations and capital raising. He is a member of the Urban Land Institute. That can really eat-away the returns. How to Achieve Massive Success in Business & in Life, How to Recover From Any Failure or Setback, How to Create Any Level of Success you Want, The Lifetime CashFlow Through Real Estate Podcast, By providing your number, you consent to receive marketing call or texts. Rod Khleif: Sure. We bought an asset in Naperville, Illinois. Christopher Joined Origin in September of 2022 as a Senior Accounting Associate. Dont take it all upfront because we dont take it all upfront because we have... Guys, if you wan na reach out to michael, hes at OriginInvestments.com asset management at! A major in Finance from the Wharton School of Business at the of. Do to add value to a nicer asset like that the analysis,,. Origin family the HSBC Amanah Global Properties Income fund ( `` GPIF '' ) a nicer like! Of transactions, with a B for DBRS, a credit rating agency for commercial securities. 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