The Distribution by Juniper Square Ep. 1: Evaluating the Health of a Market - Andrew Holmberg - Principal at Berkeley Partners
On today’s episode, I sit down with Andrew Holmberg, Principal at Berkeley Partners, and discuss why Andrew believes in avoiding locations that are overly correlated to housing, the importance of getting ESG reporting right, and how technology has created new & better ways to interact with investors
Andrew is responsible for acquisitions, portfolio management, investor relations, and overall strategy.
Berkeley Partners and its affiliated entities comprise a fully integrated principal investment firm focused exclusively on light industrial real estate. With its national footprint, the company is one of the premier institutional industrial operators and fund managers.
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Topics:
(1:14) -Introducing Andrew & Berkeley
(1:57) - What is Light Industrial and why did you choose these markets to operate in?
(3:02) - What drives Industry supply constraint?
(4:08) - Andrew’s career prior to Berkeley
(4:49) - Berkeley’s capitalization strategy
(5:49) - What kinds of investors and LPs does Berkeley work with?
(6:49) - Are you vertically integrated?
(7:43) - What lessons have you learned from living through previous downturns?
(11:26) - What did your acquisition strategy look like over the course of the pandemic?
(14:18) - How do you think about the next 12-18 months for Industrial RE?
(18:03) - What markets are you principally focused on?
(19:22) - What macroeconomic indicators do you look for to determine the health of a market?
(23:17) - What’s your take on how investor demands have evolved?
(32:15) - What do you think about evolving the environmental side of Berkeley’s ESG and then ESG in general?
(39:13) - What prediction would you make for the market over the next 12 months?