Real Talk: Real Estate Discussions with Andrew Kirsh
Diving into Small & Middle Market Preferred Equity with Base Equities Co-Founders Eli Moghavem & Michael Bastan
Jul 17, 2024
Base Equities Co-Founders Eli Moghavem & Michael Bastan discuss the supply-demand in small to middle market preferred equity, key deal evaluation metrics, and challenges of starting a new business venture in real estate. They also explore new asset classes and seeking higher yields while scaling up through programmatic JV structure.
36:42
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Quick takeaways
- Base Equities focuses on small to middle market preferred equity, catering to underserved segment.
- Company stays agile by diversifying portfolio, adapting to market changes, and reacting fast to opportunities.
Deep dives
Base Equities' Focus on Small to Middle Market Real Estate Investments
Base Equities specializes in providing preferred equity and mezzanine financing in the small to middle market range, typically investing in one to five million dollar preferred equity or mezzanine positions. They capitalize on the market gap created by the focus of larger lenders on higher check sizes, offering a unique product tailored to this underserved segment. By addressing the supply-demand imbalance in this space, Base Equities has found success and significant deal flow, with a strong emphasis on efficient deal intake and quick decision-making.
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