Ep. 32: What it Takes to Become a Top 25 Multifamily Investment Manager - Bob Hart - President & CEO of TruAmerica

As Founder, CEO and President of TruAmerica Multifamily, Bob Hart oversees acquisitions, asset management, rehabilitation, renovation, and dispositions of multifamily residential investments in the Western United States. Throughout his career, Bob has overseen the acquisition and disposition of more than $7.9 billion in assets within the United States and Japan.

On this episode, Brandon and Bob discuss:

• Bob's career in real estate
• Building TruAmerica
• Creating desirable places to live
• Thoughts on the market

Links:

- TruAmerica Multifamily

- Bob on LinkedIn

- Brandon on LinkedIn

- Juniper Square

Topics:

(00:00:00) - Intro

(00:00:30) - Bob’s extensive career in real estate

(00:11:39) - What was the impetus for starting TruAmerica?

(00:12:42) - What did the institutional multifamily landscape look like in 2013?

(00:16:21) - What does the scope of the business look like today?

(00:17:25) - Why did you choose to enter Washington D.C.?

(00:18:04) - Are you vertically integrated?

(00:19:56) - How do you think about the supply/demand issue in housing?

(00:22:16) - Thoughts on workforce & affordable housing

(00:28:25) - What is your philosophy around creating desirable living places for tenants and cities?

(00:30:58) - Are you seeing shifts in what the customer wants from their housing?

(00:32:11) - Do you see Build to Rent as a long-term trend?

(00:33:36) - What’s your take on the macro-environment for housing?

(00:37:17) - How do you create value in assets in this economic environment?

(00:38:50) - Why are rates going up?

(00:41:03) - Sustainability practices

(00:42:20) - What advice do you have for folks in real estate who have not experienced a true down market?

(00:44:20) - Are you seeing distressed deals come your way?

(00:45:36) - What interests you over the next 12-18 months?

(00:46:23) - Are there markets you’ll either leave or enter?

(00:47:14) - Is there anything that keeps you up at night?

(00:48:07) - Where will interest rates be in 2025?

(00:50:15) - Bob’s philanthropic efforts