#44 Ian Marcus OBE, Senior Adviser, Eastdil Secured
Oct 19, 2023
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Ian Marcus OBE, Senior Adviser at Eastdil Secured, discusses his real estate journey, favorite deals, 12 job balance, and influential figures in the industry. He also reflects on personal interests and the transferable skills between sports and business. Lastly, he shares insights on deploying £500m in the property market, focusing on people and best-in-class opportunities.
Understanding the key sectors in the real estate industry that offer investment opportunities, such as multifamily, life sciences, logistics, self-storage, senior living, and hospitality & leisure.
The significance of building and maintaining strong relationships within the real estate industry, as they can help navigate cyclicality, manage risk, and unlock opportunities.
Taking a people-focused approach when deploying capital in real estate, by identifying the best-in-class teams to invest behind and considering risk-reward dynamics and local geographies.
Deep dives
Ian Marcus's Career Journey in Real Estate
Ian Marcus, OBE, shares his career journey in the real estate industry. From studying land economy at the University of Cambridge to working at various banks, including Bank of America and UBS, he gained valuable experience in property lending and corporate finance. Marcus discusses his involvement in landmark deals such as the sale of married quarters to Numura and the creation of Europe's largest self-storage business, Shurgard. He also highlights the importance of relationships and the transferable skills from sports, such as rugby, to the business world.
Opportunities in the Real Estate Industry
Marcus identifies several sectors in the real estate industry that offer opportunities for investors. These include multifamily, life sciences, logistics, self-storage, senior living, and hospitality & leisure. He emphasizes the importance of understanding supply and demand dynamics, demographics, and social impact in making investment decisions. Marcus also highlights the influence of global markets, changing definitions of real estate, and advancements in technology as factors shaping the industry's future.
The Value of Relationships in Real Estate
Marcus underscores the significance of building and maintaining strong relationships within the real estate industry. He shares his experiences with industry titans and visionaries such as Sir John Ritblat, Mike Slade, Sam Zell, and Ben Lambert. Marcus emphasizes how relationships with individuals and teams can help navigate the cyclicality of the industry, manage risk, and unlock opportunities.
Reflections on Career Learnings
Marcus reflects on his career and acknowledges the constant temptation to think about missed opportunities or different paths. However, he believes it's essential to focus on the present and future. He draws parallels between leadership in sports and business, highlighting the importance of getting the best out of a team, understanding different personalities, and balancing individual strengths. Marcus also advises young professionals to embrace the evolving nature of the industry, adapt to change, and prioritize relationships as a critical foundation for success.
Approaching Capital Allocation in Real Estate
Marcus suggests taking a people-focused approach when deploying capital in real estate. Rather than specifically targeting properties, he would identify the best-in-class teams and invest behind them. Marcus emphasizes the need for a thorough analysis of risk-reward dynamics, timeframes, and local geographies. He also encourages viewing capital allocation as a spectrum rather than categorizing it strictly as equity or debt.
Ian is a graduate of the University of Cambridge having studied Land Economy. Since then, he has held roles at Bank of America, UBS, NatWest, Deutsche and Credit Suisse.
He currently sits on the board of 12 companies – everyone from Eastdill Secured, Elysian Residences, Town Centre Securities PLC, Work.life, Shurguard Self-Storage along with a number of others outside the real estate world.
I sat down with Ian to discuss a broad range of subjects which covered some of the following topics:
How he got into real estate
People, People, People
Network & relationships
Risk aversion
Job selection criteria
Capital structures
Balancing 12 jobs!
Opportunities in the market
Favourite deals
Real estate heroes
Oh, and one last question - who are the People, what Property, and in which Place Ian would invest should he have £500m of equity at his disposal. Catch the full episode which will be live on Spotify, Apple and Youtube from Thursday this week. The People Property Place Podcast? is powered by Rockbourne. Who do you want to see on the Podcast? Link in the comments below #podcast #realestate #property #peoplepropertyplace
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