Masters of Moments A Deep Dive into Value-Add Urban Real Estate with Scott Sherman - Founder & Principal of Torose Equities
Scott is responsible for strategic direction, sourcing investment opportunities, capital markets and operations for the firm.
Prior to launching Torose, Scott co-founded Tricera Capital where he led the charge on strategic direction, capital markets and sourcing investment opportunities. In this role, Scott built a portfolio in excess of $700M over five years and consistently delivered returns in excess of 20% IRR and a 2x multiple across realized investments. Scott maintains ownership and major decisions across the Tricera portfolio and continues to be a minority owner of Tricera Capital.
Torose Equities is a Miami-based real estate investment firm with several different verticals, including a value-add urban retail, office, and mixed-use strategy within the Southeastern United States.
On this episode, Jake & Scott discuss:
- Important retail trends that will shape the next decade
- The science of placemaking
- The opportunity for Office
- Working with Family Office Investors
- Building Torose Equities
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Links:
Topics:
(00:01:40) Scott’s background and career
(00:10:37) Learnings from working in international markets
(00:13:16) How are you choosing what markets to choose on now?
(00:15:14) Risk and reward in investing
(00:17:57) What is your competitive edge?
(00:19:12) What are some important retail trends that will shape the industry over the next decade?
(00:21:40) What’s important for Office investors over the next 5-10 years?
(00:27:40) Pros and Cons of Commercial and Retail Investing
(00:29:38) Placemaking
(00:36:40) What do you look for in locations for the success of retail?
(00:39:47) What is the opportunity for Office in Florida?
(00:42:32) Developing a 350k sqft covered land play
(00:48:18) How are you finding Family Office investors?
(00:49:17) Co-GP opportunities
(00:50:14) Characteristics of good partners
(00:51:26) Building Torose Equities
(01:01:16) How are you sourcing deals?
(01:05:06) What’s your approach to value-add?
(01:09:11) What processes have you implemented in your company?
(01:11:33) What is your favorite hotel?