The Best Ever CRE Show

JF 3870: Strategic Development, Market Shifts, and Build-to-Hold Philosophy Ft. Victor Menasce

Apr 9, 2025

Victor Menasce, a senior partner at Y Street Capital and host of the Real Estate Espresso podcast, shares his journey from electrical engineering to real estate development. He discusses the shift to ground-up development and the challenges of rising construction costs, especially due to tariffs. Victor explores the complexities of converting historic buildings and the demand for flex industrial spaces. He also highlights long-term investment strategies, emphasizing a buy-and-hold philosophy as a path to maximized returns.

25:58

Episode guests

Victor Menasce

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Episode notes

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Quick takeaways

Victor Menasce's transition from electrical engineering to real estate development highlights the importance of adaptability in a changing market.

He emphasizes a long-term, build-and-hold investment strategy that aims for sustainable value creation amidst rising construction costs and market shifts.

Deep dives

Investment Opportunity in Peoria Gateway

Peoria Gateway presents a compelling investment opportunity in one of Arizona's rapidly growing real estate markets. This Class A development will feature a luxurious 200-unit apartment community aimed at addressing the housing shortage in Peoria, which is part of the growth corridor to Phoenix. The area's limited supply of newer rentals combined with the increasing demand from a rising population creates favorable conditions for strong rental absorption and long-term property appreciation. This investment strategy is attractive for accredited investors seeking to elevate their portfolios through high-demand real estate projects.

Intro

2min

From Engineering to Real Estate: A Journey of Growth

13min

Navigating Multifamily Conversions and Industrial Market Trends

6min

Strategic Development and Economic Growth in Salt Lake City

2min

Long-Term Investment Strategies and the Buy-and-Hold Philosophy

3min

On this episode of the Best Ever CRE Show, Amanda Cruise and Ash Patel interview Victor Menasce, senior partner at Y Street Capital. Victor shares his transition from electrical engineering to full-time real estate development, focusing on why he pivoted from value-add deals to ground-up development across multifamily, industrial, and land projects. He dives into challenges with rising construction costs due to tariffs, converting historic buildings, and the complexities of repurposing office space into residential units. Victor also discusses the long-term strategy of build-and-hold investing, small-bay flex industrial demand, and insights on markets like Salt Lake City and New York.