ruarri miller, anna mackay, jonathan berk, matt edlen, peter friedrichs --- new models power point
TRANSCRIPT
New Models for Real Estate Development
April 28th, 2016
1:15-2:45
• Matt Edlen- Director of Acquisitions and Dev.- Gerding Edlen
• Peter Friedrichs- The City of Central Falls- Planning & Economic Dev. Director
• Anna Mackay- Head of East Coast Dev.- Guerrilla Development
• Ruarri Miller- President- The Apiary
Moderator: Jonathan Berk- BuildingBOS
New Models for Real Estate Development
4
GERDING EDLENGREEN CITIES I-III
• Institutional Grade investment management platform focusing on the following: • Investment size: 5-50M +
• Total Dollars Invested (Equity):
• Fund I: $189M
• Fund II: $250M
• Fund III: $450M (Still raising)
• Key gateway cities in major urban markets
• “Youth Magnet Cities”
• Targeted IRR 14-22% (*specific to each fund)
• Minimum LEED Gold
• Office (Existing), Residential (New Construction/Existing)
5
THE TRIPLE BOTTOMLINE
PEOPLE. PLANET. PROSPERITY.
PE
OP
LE
PL
AN
ET
PR
OS
PE
R
ITY
7
9
GERDING EDLENGREEN CITIES I –IMPACT REPORT(SAMPLE)
The Apiary:
Community
Development
Equity FundReviving Rhode Island’s Low to
Middle Income
Neighborhoods
James Madison - 4th President
Inequality in property ownership subverts liberty, either through
opposition to wealth (a war of labor against capital) or “by an
oligarchy founded on corruption” through whichthe wealthy dominate
political decision-making (a war of capital against labor).
Data Points
● Only 3% of the US population can invest in equity funds
or start-up
○ Of that 3%; only 300,000 individuals and 500 firms
actuallyinvest
● Only 64% of Americans own ahome
○ Lowest rate in 20yrs
● Only 52% of Americans ownstock
○ Lowest since1998
○ Greatest decline amongst 30-49 yearolds
● The top .00028% of income earners collected 16% of all
capital gains
Central Falls
Summary
➔ The Apiary will incorporate a “Community Development” Private Equity Real
Estate (PERE).
➔ The Apiary is not a non-profit CommunityDevelopment Corporation. We have
investors and we don’t rely exclusively upon state and or federal subsidies.
Similar objectives, but different structures that enable us to address
community investment differently.
➔ The CD PEREwill be funded by accredited & non-accredited investors
throughout Rhode Island via a Direct PublicOffering.
➔ Capital will be used to fund small to mid-sized projects in low-to-middle
income (LMI) urban neighborhoods in RhodeIsland.
➔ Projects will fill the void that exists between projects too big for small
developers (i.e. multifam investors) and too small for large developers (i.e. mill
projects).
➔ Projects are long-term investments targeted ataddressing urban
blight/neglect, “Main Street” vibrancy, and housing affordability.
Development Strategy
Issues Encountered
Share your thoughts
Ask questions
Engage our participants
Inspire Growth
Help shape the new models of urban development