Brave Ideas Slices of Pizza & NOI: A Flex Financing Talk in Times Square
Jan 29, 2025
Sam Gamble, co-founder of ReturnSuite, shares his journey from landlord to tech startup CEO while exploring the future of office real estate in Times Square. He and host Caleb Parker discuss flex and coworking trends, the challenges around financial data access, and how innovative tech solutions are revolutionizing transparency in the industry. They emphasize the importance of collaboration among stakeholders and how data can unlock growth. With humor and insights, they navigate the evolving landscape of real estate in a post-pandemic world.
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Data Sharing as a Co-op
- Data sharing in the flex space industry should operate like a co-op model.
- Contributing data unlocks access, similar to IPD's approach, ensuring data resource sustainability.
Lender Reluctance Towards Flex Space
- Caleb Parker recounts a deal in Glasgow involving a landlord and flex space.
- Senior debt rejected the plan due to high flex footprint, despite higher NOI, highlighting lender reluctance.
Flex Industry's Shift
- The flex industry is moving beyond lease arbitrage towards retail-like leases and partnerships.
- This shift necessitates greater transparency and complicates financial modeling, as highlighted by Perry from Industrious.