Masters of Moments #8: Zach Kupperman - Founder and CEO of Kupperman Companies - Historic Tax Credits & Revitalizing New Orleans Hospitality
Zach has over a decade of experience developing real estate throughout the Southeast. Current and past projects include hotels, multi-family, mixed-use, and retail. As CEO, he sets the overall strategy for the firm and oversees all acquisition, development, and financing efforts.
Kupperman Companies designs, develops, and acquires hotels, retail, multi-family, and mixed-use projects in Louisiana, Texas, Georgia, Alabama, Colorado, and across the Gulf Coast. They invest in award-winning historic redevelopments that preserve the history, architecture, and culture of the surrounding community.
Kupperman currently owns and manages over 520,000 square feet of hospitality, retail, and mixed-use assets and over 100 acres and 500 pads of manufactured housing communities through their affiliate, Lucky Communities.
On this episode, Jake and Zach discuss:
- Transitioning from law into Real Estate
- Historic Tax Credit deals
- The impact of New Orleans' transformation since Katrina
- Acquiring one of the most coveted pieces of Real Estate in Aspen, CO
- Building partnerships with hospitality operators
Links:
Hotel Saint Vincent, New Orleans
Hotel Peter & Paul, New Orleans
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Topics:
(2:27) - Zach’s transition into real estate
(7:12) - How do Historic Tax Credit deals work?
(10:04) - How did placemaking become a bigger part of your strategy?
(11:30) - How has New Orleans changed since Katrina?
(14:08) - What else does the city need to do from a RE perspective?
(14:52) - What led you to add hospitality to your portfolio?
(17:57) - Do memberships offset some of the costs that you lose with smaller door counts?
(19:37) - With The Drifter & Hotel St. Vincent, what was your intention in setting the vibe?
(24:16) - How do you structure your deals?
(26:02) - Where are your investors located?
(26:24) - What did your debt and equity structure look like for the Saint Vincent Hotel?
(32:36) - What did the business plan for the hotel end up being?
(39:55) - What aspects of a historic tax credit deal would give you hesitation before jumping in on one?
(41:02) - Do you manage Hotel St. Vincent?
(42:03) - What have you learned about hotel ops?
(43:42) - What are you focusing on now when thinking about new deals?
(45:01) - Do your investors ever express concern about diversifying your portfolio?
(46:39) - Are there any big opportunities that have you excited right now?
(47:46) - How does a guy from NOL get one of the most coveted pieces of RE in Aspen, CO?
(54:43) - How important is integrating F&B into the hotel experience today?
(56:20) - How are the independent hotels in your portfolio competing against the market?
(1:01:08) - Converting Hotels into MF
(1:09:59) - How do you run Kupperman and how have you utilized that strategy to grow the firm?
(1:13:44) - What does a typical week look like for you?
(1:15:41) - How did you train your offshored underwriter?
(1:20:13) - What is your favorite hotel?