Evolving from Real Estate Analysis to Platform Investing

Matt Kaplan is the Managing Partner of Almanac Realty Investors, an investment company providing growth capital to real estate companies in North America. He is responsible for overseeing the activities of the firm as well as the portfolio management of the ARS Funds. Prior to joining Almanac in 1990, Kaplan served in the Corporate Finance Department of Rothschild Inc, one of the world’s largest independent financial advisory groups today.

Links:

Almanac Realty Investors

Matt on LinkedIn

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:01:37) - Matt’s background and career

(00:09:36) - What were some early lessons learned that informed your career?

(00:11:18) - What was your original thesis for Almanac?

(00:16:43) - What does the organization look like today?

(00:21:13) - How do you differentiate the GP stakes side of the business and the RE investing side?

(00:24:23) - Where are we in the market today?

(00:27:45 - How do you think about the difference between platform and asset investing?

(00:32:45) - What do you look for in partners and GPs?

(00:38:48) - What advice would you give to GPs wanting to be ‘ready’ to partner with a firm like yours?

(00:42:36) - How do you think about governance?

(00:46:21) - Do you see boards of directors created post-investment?

(00:50:00) - Where do you see the industry over the next 20 years?

(00:51:35) - How does the rise of private wealth impact the industry?

(00:53:34) - How would you describe your approach to technology?