The Fort

Pershing Capital is a real estate investment, development and advisory firm with a focus on single tenant and multi-tenant retail assets with E-commerce and recession resistant tenant bases. Today, you'll listen as Chris interviews Edward about his deep dive into the retail sector of real estate. Edward will describe what retail has looked like over the last decade, how retailers have had to adjust during the pandemic and what opportunities lie ahead for the industry. Enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers & Fort Capital: www.FortCapitallp.com 01:45 — Edward’s Background and Career with Trademark Property Company & Pershing Capital 11:56 — When did you start getting ‘scared’ that e-commerce was becoming a thing? 13:39 — How do you create the mouse-trap of finding retailers to lease spaces? 15:16 — What is the timeline of pulling together a huge retail development?  15:57 — Why did you start Pershing Capital? 17:09 — What was your first deal at Pershing? 17:56 — What does the advisory side of the business look like? 18:45 — Do you outsource development? 19:30 — Why are certain aspects of development getting harder? 23:03 — What is going on in retail since COVID hit? 25:34 — How have tenants responded to the pandemic? 27:03 — Edward's Thoughts on the Mall Business 31:09 — Why should e-commerce companies like Amazon also become brick & mortar businesses? 33:54 — Who is putting the majority of the investment into these properties for retail projects? 36:52 — What is a 'co-tenancy clause' and how do you feel about it? 41:07 — Have we discovered what our ‘sweet spot’ cost is for retail space per square foot? 41:47 — What is the zoning like to re-position these developments for a totally different use? 44:33 — Is there a time horizon that shows decreasing prices for retail spaces? 46:15 — Can a retail project be financed right now? 48:59 — If a real estate opportunity presented itself, how would you go about financing it? 51:47 — How can businesses occupy these retail spaces again? 52:55 — What opportunities within retail are you excited about going forward? 53:57 — What is the best advice you have ever received? 55:46 — What advice would you give to your 21 year-old self? The FORT is produced by Straight Up Podcasts

Chris tackles the complex topic of Insurance as he interviews Michael Moore, an 8th generation Texan and President of Lockton's Fort Worth office. Michael shares a fascinating story about his family's influence in Texas, a break down of the insurance industry in the midst of COVID-19, and Michael's new podcast: The Climb. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitallp.com Listen to Michael's Podcast Here   02:00 — Michael’s Family History and Journey to Lockton 15:28 — How did your family get into organic farming and what was it like working with Whole Food’s before they became popular? 17:38 — What is the difference between the Waldorf educational system and a traditional American education? 21:27 — What is the difference between email marketing back in 2001 versus 2020? 22:51 — The Loaded Question: How does the insurance industry work? 24:57 — Why is the American employer encouraged to provide employee benefits vs. an employee signing up on their own as they would with car insurance? 28:10 — How much does the average employee’s age affect the overall insurance rates for the company? 30:01 — Why aren't property and casualty rates going down? 31:02 — What’s a “Hard Market”? 34:12 — How does a "Hard Market" end? 35:40 — Is there anything happening in the industry that can change the direction of these prices such as technology? 40:10 — Is there a 'black swan' within the insurance industry that a court can demand coverage for? 43:14 — Has the pandemic coverage become more solidified in pricing models? 44:05 — Have insurance rates increased because people are more likely to sue someone at the drop of a hat? 48:23 — What does an underwriter's shop look like? 52:50 — Is there one company crunching all the numbers and putting out the risk to carriers & underwriters or is this data collected individually? 53:34 — Grandfathering in Policy Pricing 57:03 — How did you go about building the Lockton brand in Fort Worth? 1:01:57 — How did Lockton react to the initial outbreak? 1:04:15 — Did you receive more early warning signs of COVID than most since Lockton is an international company? 1:04:42 — From a company leader's perspective, what does the rest of the year look like for Lockton? 1:06:40 — Is there something that Texas is doing that gives you hope vs. the challenges others are facing in markets that are hit harder like LA, NYC, etc.? 1:08:52 — What has hosting a podcast been like and what can listeners expect from the show? The FORT is produced by Straight Up Podcasts

CRETech is the the largest international community of professionals devoted to technological innovation in the real estate sector. On this episode, Chris and Michael discuss the chaos in the event-industry as they navigate COVID-19, launching a consulting business mid-pandemic, the trend of venture arms popping up in the world's largest companies, and the future of Real Estate Technology. Enjoy!  Follow Chris on Twitter: www.Twitter.com/fortworthchris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Subscribe to Michael's Blog: https://www.cretech.com/michael-beckerman/   01:50 — How Michael got into Real Estate Technology and the Current State of the Industry 04:55 — How did you start building this online community back in 2012? 06:50 — Can you describe what the entrepreneur’s mindset looks like over the last few months? 12:10 — What are the upfront costs that you risk when putting on a RET conference? 15:13 — How would the current social environment have to change in order for you to feel comfortable hosting an event again? 22:06 — How did you come up with the idea to launch a consulting business helping connect people in the Real Estate Tech world during COVID? 27:38 — What are your thoughts on major companies creating in-house venture arms to invest in emerging technologies rather than building it themselves? 30:51 — Fort Capital’s Adoption of Technology and its Role in Creating an Innovative Culture 39:50 — What new tech ideas are you seeing come out of the pandemic? 42:53 — The Future of the Real Estate Technology Industry 45:37 — Has COVID caused a radical change in how people think about higher education? The FORT with Chris Powers is produced by Straight Up Podcasts

Chris sits down with business partner and Fort Capital COO, Jason Baxter, to discuss the concept of Cost Reduction, Overhead Management & Revenue Generation (COR) and how it has given their team a voice and the ability to think like company owners. They'll discuss how they were able to successfully implement COR within the culture of the business and avoiding the 'revenue creep'. Enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers & Fort Capital: www.FortCapitalLP.com 01:08 — COR: The Meaning, Defining Success and How We Implemented it at Fort Capital 05:24 — Fort Capital’s 2019 COR Challenge and What it Revealed 07:36 — How COR Became Part of Fort Capital’s Culture 09:26 — The Problem With Focusing Too Much on Revenue and 'The Creep' 13:06 — Company Goals During COVID-19 15:18 — Rewarding the Team for Achieving Wins and How We Keep COR at the Top of Everyone's Minds 18:08 — A Deep Dive into the Overhead Management Piece of COR 21:44 — How Fort Capital Identifies Imbalances in Processes, OKR’s, and Setting Overhead Management Goals 24:28 — The Importance of the Team Having a Voice as a Company Grows 27:52 — Setting Budgets and Fort Capital's Re-Forecasting Tools 32:44 — Being Patient When Implementing a Process like COR The FORT is produced by Straight Up Podcasts

Sarah LanCarte is the founder of LanCarte Commercial, a commercial real estate company specializing in tenant representation, leasing, and sales and acquisitions for properties in DFW. On this episode, Chris and Sarah talk about the early days of her career, her mentors, working with Fort Capital and ultimately what led her to founding LanCarte Commercial. They also talk about the current state of commercial real estate in DFW in the wake of COVID-19 and trends she predicts going forward. Enjoy!  For more information on Chris Powers and Fort Capital, visit www.FortCapital.com Follow Chris on Twitter! www.Twitter.com/FortWorthChris 01:49 — Sarah’s Background and Starting LanCarte Commercial 08:18 — Did cold calling come naturally to you or was it uncomfortable at first? 09:56 — Was there a point in time where you thought “Okay, I’ve arrived in this industry.”? 12:08 — The First Deal Sarah Closed 12:43 — When did you start to become self sufficient at finding and doing deals? 14:53 — How Chris started working with Sarah and how she transitioned from the broker world into principal 18:15 — What was the journey like in starting your own business? 21:08 — How do you split your time between running the business and being a broker? 23:20 — What do you say to young brokers to prepare them for both the exciting and frustrating part of CRE? 24:54 — What is the difference between a great broker and a bad one? 28:21 — How is LanCarte Commercial's team different than other companies in the industry?  29:50 — What was your experience as a small business owner during the very early days of COVID-19? 33:30 —  What are you observing in the Fort Worth market as we come out of COVID-19? 37:33 — Do you know of any big office tenants that might be moving into Fort Worth for the first time? 38:50 — Do you have any predictions on how places like Shopping Malls and Big Box Retail could be converted? 40:48 — What are your thoughts on Multi-Story Industrial Innovation in DFW? 42:53 — Is the demand there for all the Spec being built around DFW? 44:38 — How far in advance are tenants looking to lease in the Class B Space? 47:02 — Have you seen an upgrade with places like Amazon in their infill as they move to delivery methods like Sprinter vans? 48:08 — What are your 5-year goals for LanCarte Commercial? 48:52 — Why is CREW important and why should more females in the industry be a part of it? 50:07 — How can people get in touch with you? The FORT with Chris Powers is brought to you by Straight Up Podcasts

On this episode, Chris chats with his lifelong friend Mackenzie Todd, Founder and CEO of Urban Golf Performance. This 5-star golf performance club uses a holistic approach to help golfers reach their goals as efficiently as possible. They'll discuss Mackenzie's golf career and how it led to the the incredible growth of UGP as well as the transition from a player himself to teaching some of the world's top golfers. Enjoy!  Follow Chris on Twitter Learn more about Chris Powers and Fort Capital at www.FortCapitalLP.com Learn more about Urban Golf Performance Listen to Mackenzie's podcast: The Urban Golf Podcast 02:00 — Mackenzie's Backstory Leading to UGP 06:06 — Mackenzie’s First Major Investor 07:11 — What would I experience after walking into a UGP location? 07:49 — How has fitness progressed as a major staple in the game of golf? 10:05 — What is the fitness process like at UGP? 12:24 — What does a top golfer like Collin Morikawa try to get out of his fitness routines? 14:16 — How does a player transition into a teacher/coach? 17:31 — Bringing on The Founder of TOMS as a Partner 21:43 — Is there one piece of information since having him as a mentor that you latched onto? 23:12 — What's your emotional journey as an entrepreneur been like over the last 90 days in LA? 27:09 — Are you optimistic for the remainder of the year? 28:50 — What’s the vision for UGP over the next decade? 29:52 — What prevents great amateur players from going pro? 32:02 — What separates the top 25 in the world from the rest of the pros? 34:52 — Are you a believer in taking the length out of the game? 36:20 — Who’s your favorite player? 36:44 — Who has the best swing in the game? 36:49 — Who's the best player no one has heard of yet? 37:28 — Is Matt Wolff's swing going to hold up for 20 years? 38:14 — Does Tiger Woods need to get to 18 majors to be the GOAT and do you think he will get there? The FORT is brought to you by Straight Up Podcasts

On this episode of The FORT, Clayton and Chris discuss Clayton's journey from the banking world to discovering entrepreneurship via search funds. They discuss his acquisition of HousingWire.com and housing/construction trends over the last 90 days. As president and CEO, Clayton Collins leads HousingWire’s corporate strategy, product and editorial roadmap, while building a world-class team of business media professionals. He is also the founder and managing partner of Riomar Capital, an entrepreneurial investment firm that acquired HousingWire in 2016. His drive to increase HousingWire’s impact earned him a spot on the 2018 Folio: 100, a prestigious list of thought leaders in the magazine and media industry. Enjoy! Follow Chris on Twitter For more information on Chris Powers and Fort Capital, visit www.FortCapitalLP.com 02:27 — Clayton’s Story Leading Up to HousingWire.com 03:18 — Why did you leave the banking world and purchase a media company? 05:44 — What was the search fund model experience like? 08:16 — How long was your search and how many businesses did you look at? 10:53 — Why did you choose HousingWire and how did the transaction go? 15:25 — Have you made any other acquisitions since? 16:38 — How do you value a media business? 17:48 —  How much has the business grown since you bought it? 18:43 — How is the team structured? 21:19 — How do you convince someone to use your paid service versus the many free options available? 23:34 — Who is your target market? 24:27 — What’s the environment around housing-lending like right now? 28:36 — Do you see the housing market doing well coming out of COVID-19? 32:27 — Are you able to track where the demand is? 35:37 — Do you see a wave of people motivated to sell right now? 36:48 — Has COVID shined a light on any new housing innovations? 38:58 — Do you have any insight on changes in residential construction costs? 40:00 — Are there any companies that you have your eye on in Fintech or REtech? 42:38 — Do you have any insight on the single-family rental sector? 44:35 — First-Time Homebuyer Trends 48:10 — Smaller Home Trends 50:18 — Clayton's Thoughts on Airbnb Post-COVID The FORT with Chris Powers is brought to you by Straight Up Podcasts

On this episode of The FORT, Chris provides a 60-day COVID-19 update where he'll touch on topics like the reopening of capital markets and the effects we are seeing in the multifamily & industrial sectors. Chris also shares the latest changes and updates happening at Fort Capital such as their property management integration and new software tools built by the team. Enjoy!  Learn more about Fort Capital and Chris at www.FortCapitallp.com Follow Chris on Twitter 00:49 — Capital Markets Opening Back Up 02:10 — New Deals in the Multifamily & Industrial Space 03:36 — Update on the State of Texas 05:35 — Rents & Reliefs 08:14 — Industrial Sector in Texas 09:04 — The Fort Capital Portfolio & The Rush to Texas From The Coasts 10:55 — Multifamily & Industrial Collections 12:05 — Construction is Still Booming 13:41 — 'Work From Home' Becoming the New Future 15:57 — Fort Capital's Buying Plan 18:00 — What Fort Capital Has Done the Last 30 Days Operationally 19:28 — CORE in Fort Capital’s Culture 21:08 — Construction Costs & Predictions for Oil & Gas 22:12 — Fort Capital Property Management 23:38 — Fort Capital's Use of the FOS Platform 26:41 — Go Watch 'The Last Dance' on ESPN The FORT with Chris Powers is produced by Straight Up Podcasts

James Hill is the Chief Strategy Officer / Fort Worth Market President at Access Bank. He has 12+ years of expert banking experience, specializing in commercial and real estate lending. Born and raised in Fort Worth, Texas, James is a graduate of the Business Honors Program at the University of Texas at Austin as well as TCU, receiving his MBA in the Accelerated Program. He is currently adjunct faculty in the finance department of the business school at TCU and was elected to the Tarrant Regional Water District Board in May 2017.  On this episode of The FORT, James and Chris dive deep into the world of banking, lending, and the importance of having a great relationship with your banker. Chris also touches on how the pandemic brought him to James for an in-depth "Banking 101" class in order to be as informed as possible when navigating the future. They also answer some questions from Twitter! Enjoy.  For more information on Chris Powers & Fort Capital, visit www.FortCapitalLP.com Follow Chris on Twitter 02:26 — James’ Background  03:53 — Not Being the “Prototypical” Banker 05:40 — Relationships Are Important During COVID 07:13 — How do you view your relationship with borrowers and how should borrowers think about their relationships with their bank?  10:25 — How do banks set their reserve methodology? 12:30 — If a loan is going into default, are the banks the first to lose out but also make interest? 13:11 — How does the bank approach a potentially bad situation? 15:59 - What happens when you have a good relationship with a bank but you're about to be in a default situation? 21:02 — If a bank has a lot of bad loans on its balance sheet, does that affect its ability to borrow from the Federal Government? 21:44 — If you have personal recourse on a loan, and the delta was not met, how do they figure out how it's paid out over time? 23:55 —   How do non-recourse loans work? 28:28 —  Should I move everything over to one bank or should I use multiple banks? 29:33 — When were you notified about the idea of PPP, what did the process of implementing it into your daily life look like as a banker? 32:36 — Question from Twitter for James: “To what extent does the reputation of the borrower matter? 34:37 — What are the 'C’s' in your credit program?  35:14 — What might change in banking coming out of the crisis? 36:57 — What does it mean for a bank to be more well-capitalized now vs. during the ’08 crash? 38:24 — Foreclosure Protocols Across Different States 40:34 — Pinpointing Value In This Climate 42:05 — If I have a loan maturing in the next 4-5 months, how does one evaluate whether to extend their loan? 48:21 — Given the current environment, when are banks suggesting is a good time to buy again? 50:55 — How do you start a bank and how much liquidity do you need to get one up and running? 53:07 — Where is the banking industry headed over the next decade? The FORT with Chris Powers is produced by Straight Up Podcasts

Adam Blake is a real estate and technology entrepreneur that has started, scaled, and exited multiple ventures and private equity-backed companies. He and Chris met early in their studies at Texas Christian University as they developed their own real estate careers.   Adam has played a huge role in Chris's life as he served as the inspiration and provided the mentorship that led Chris to make his first real estate purchase during his freshman year at TCU.  They have since held a close relationship over the last 16 years.  On this pod, they talk about Adam building his first real estate company in college, his first million dollar deal, pivoting into Solar software, the process of exiting multiple companies, and his thoughts on a future with COVID-19. Enjoy!  To learn more about Chris Powers and Fort Capital, visit www.FortCapitalLP.com Follow Chris on Twitter! @FortWorthChris 02:05 — Adam’s Story and What Lead Him to Be an Entrepreneur 06:32 — Adam’s Father and The Impact His Death Had on Him 07:38 — How did your first real estate company come together while you were at TCU? 11:08 — When was the first time you did a deal that made you a significant amount of money? 12:34 — How did you raise the money for that deal at only 18 years old? 13:34 — Adam’s Experience Winning The Global Student Entrepreneur of the Year Award & Meeting Chris Powers 15:41 — Adam’s First Million Dollar Deal 17:18 — Adam’s Journey Through The '08 Recession and His Success Through a Dallas Condo Deal 21:31 — Moving to Kansas City and Pivoting Away From Real Estate and Into the Solar industry 23:51 — What did you like about the solar industry and what was your experience like growing & exiting this company? 28:50 — You started building software at Brightergy yet how does a non-technically oriented leader create a software culture? 32:32 — Why did you exit the solar industry? What mistakes were made during this process that you’ll never forget? 37:23 — Is there anything you would’ve done differently in the selling process? 39:16 — How did you get the inspiration for your next company, Zego? 42:10 — What made you decide to sell Zego at an early stage? 46:05 — Should more people take the route you did in selling Zego? 47:57 — What is it about Vista that makes them such a great PE company? 49:17 — How do you develop an "awesome" product? 50:52 — How has your perspective changed over time with a wife, 4 children, and a son with Autism? 53:58 — Adam’s Son 56:17 — Adam’s Core Values in His Weekly Rundown and How He Came Up With This Concept 58:36 — What are you thinking, seeing, and feeling right now as it relates to the COVID-19 situation? 1:01:49 — What do you see happening for yourself in the next year? 1:06:05 — Does this give you a different perspective as to what your next career move will be? The FORT is produced by Straight Up Podcasts