The Fort

#359 - Michael Levy - CEO @ Crow Holdings - 2008 GFC Stories, Restructuring, View on 2024 RE Market, Life at Crow, A Man of Commerce

Jul 9, 2024

Michael Levy, CEO of Crow Holdings, shares insights on his career at Morgan Stanley during market crashes, experiences at Crow Holdings, and analysis of the real estate market. Topics include advice on restructuring, navigating financial crises, contrast between New York and Texas cultures, and future trends in real estate investments.

01:43:05

Episode guests

Michael Levy

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Episode notes

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Quick takeaways

Forecasting difficulties in predicting the future accurately, focusing on long-term trends like GDP growth over short-term predictions.

Implementing rotational structure in capital raising for diversified investment opportunities.

Diversifying investment management offerings with value-add, mezzanine lending, and strategic expansion into retail properties.

Emphasizing secular trends, maintaining liquidity, and adapting to real estate market shifts for strategic investment decisions.

Deep dives

Emphasizing the Uncertainty of Predicting the Future

Highest paid individuals who predict the future are often wrong, highlighting the difficulty in forecasting accurately. Operating from a baseline assumption of general growth for America, focusing on long-term trends like GDP growth and inflation control rather than short-term predictions about interest rates or specific market movements.

Intro

4min

Navigating Acquisitions and Industry Shifts in Real Estate Investment Banking

11min

Analysis of the 2008 Global Financial Crisis

13min

Reflections on Building a Legacy in the Real Estate Industry

11min

Contrasting New York and Texas Cultures in Business

4min

Diversified Business Units Strategy in Real Estate Development

11min

Navigating Real Estate Investments Through Economic Cycles

12min

Navigating Challenges in the Real Estate Market

21min

Real Estate Investment Trends and Diversification

9min

10.

Evolution of Real Estate Industry and Future Trends in Capitalization and Investment Management

4min

11.

Exploring the Future of Financial Vehicles in Real Estate Sector

2min

Today’s episode is full of incredible career stories and deep market insights as we enter the second half of 2024.

Michael Levy is the Chief Executive Officer of Crow Holdings where he is responsible for leading and overseeing the Company’s overall business strategy and activities. The firm’s operations include real estate investment management, real estate development, renewable and traditional energy exploration, and securities management.

Before joining Crow Holdings in 2016, Michael had a longstanding career in real estate finance and investment management at Morgan Stanley. He was a member of the Firm’s Management Committee and held a number of leadership positions including COO and Head of Distribution for the Investment Management Division, Head of Traditional Asset Management, COO and CFO for Real Estate Investment Management, and co-head for Real Estate Investment Banking.

We discuss:

Michael’s career at Morgan Stanley during the DotCom crash and GFC
The experience working for Crow Holdings
Analyzing the state of the market, asset classes, and looking to the future of real estate

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Links:

Michael Levy on LinkedIn

Crow Holdings

Topics:

(00:00:00) - Intro

(00:03:10) - Days on Wall St.

(00:05:47) - Experiences during the DotCom Crash and the GFC

(00:21:02) - Advice for someone going into a restructuring

(00:24:49) - The worst assets to be in during the GFC and Michael’s time with Morgan Stanley

(00:30:44) - Being a man of commerce