Real Talk: Real Estate Discussions with Andrew Kirsh From Real Estate Private Equity to Debt and Equity Intermediary with Louis Friedel
Oct 8, 2025
In this discussion, Louis Friedel, Senior Managing Director at Berkadia with a rich background in real estate private equity, delves into the essence of successful joint ventures, emphasizing trust and collaboration. He shares insights on building relationships with institutional equity and why he transitioned to brokerage at Berkadia. Louis also tackles current lending markets, highlighting the significance of cash flow over IRR. On a lighter note, he shares his passion for pickleball and an impressive memorabilia collection, adding a personal touch to the conversation.
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Career Path From Lubert Adler To Berkadia
- Louis moved from working at Lubert Adler to Angelo Gordon, then relocated to California in 2006.
- He later became head of Angelo Gordon's LA office and transitioned to Berkadia in 2024.
Treat Equity Partners Like True Partners
- Treat equity partners like true partners and collaborate when things go wrong.
- Huddle up with mutual respect instead of assigning blame to solve problems together.
Build Relationships Before Pitching Deals
- Invest time in sincere relationship-building before pitching deals to equity providers.
- Integrate into the community and focus on friendship so the right deals surface organically.