National Association of Real Estate Companies, Charleston, SC

NAREC (National Association of Real Estate Companies)

Charleston, South Carolina was the site of NAREC’s recent annual conference.  The National Association of Real Estate Companies is a commercial real estate trade association dedicated to education and community building for the real estate finance and tax professional.

Liz and I were included in the program and conducted a two-hour general session focused on improving presentation and communication skills – for business, and for life in general.  Our program also included smaller breakout workshops where attendees received more individual attention.  It was a very enthusiastic and collaborative group who shared positive feedback with us.  

Attending this conference gave me the opportunity to visit Charleston for the first time in many years and enjoy some authentic Southern hospitality.  Before heading to the airport, we took an impromptu bike-taxi ride - to beat the heat - past the lovely historic homes we had just seen portrayed in original oil paintings being sold by the artist himself at the Charleston City Market. Although our bike ‘driver’ mentioned we were technically NOT allowed to tour while with her, she did share some noteworthy non-tour information about the area.  These website references come pretty close:

“These neighborhoods possess the unique visual appeal of old Charleston, a picturesqueness created by the close proximity of buildings, in a wide variety of architectural styles.  There is general harmony in terms of height, scale, proportion, materials, textures, colors and characteristic forms, such as the side piazzas.”

(Source:  http://www.nationalregister.sc.gov/charleston/S10817710004). 

“Walk throughout the Charleston peninsula, and you’re sure to see that iconic side piazza. This open-air porch often runs the length of a home and has multiple doorways leading indoors. Originally designed to beat the South Carolina heat by capturing the cool cross breezes from the water, piazzas are now integral parts of the city’s lifestyle.”

(Source:  http://www.southernliving.com/home-garden/decorating/charleston-home-porch). 

Being driven through these neighborhoods felt like being part of a moving-picture postcard. 

But not all is idyllic - Our ‘driver’ said that some who dream of living in a historic home find, after moving in, that a number of the things they thought they could live with (i.e. poor heating/ventilating systems, old windows, etc.) are not so livable….and are very expensive to fix.  There were ‘For Sale’ signs everywhere!  Have you seen the movie “The Money Pit”?

Charleston truly is a beautiful city to explore.  Sauntering along random streets we came upon a theatre - apparently the oldest theatre in America is located in Charleston. Who knew?   The Dock Street Theatre held its first performance on February 12, 1736 and is still going strong.  Once inside we noticed a 9-foot grand piano on the stage below.  With only a few other tourists in attendance, and the temptation too great, I found my way around the circular mezzanine and down the far staircase. I walked out onstage, sat myself down at the magnificent ebony concert piano, paused to take in the moment and began to play a few tunes  - original melodies, plus The Beatle’s ‘Something.’  I heard totally unexpected, but appreciated, applause from the ‘audience’… that is, until getting thrown out.  Actually, we were politely asked to leave by a theatre employee.  But, seizing that brief moment on the stage of that theatre is something I’ll always remember.

Thanks again to NAREC for bringing us to Charleston. If you are a commercial real estate finance or tax professional - at any stage in your career - I encourage you to check out NAREC membership (www.narec.org).  The knowledge, experience and camaraderie found in this group will bring value to both your company and yourself as your career evolves.

Restaurant of the week: 

Brasserie Gigi

102 N Market St.

Charleston, SC 29401

(843) 722-6393

A relatively new addition to the city, housed in a beautiful space reminiscent of a true French bistro.  Consider the oysters, the Beets, Beef and Blue salad, and the Duck Confit at lunchtime (although all the dishes looked delish!).

HAPPY FOURTH OF JULY!!

On The Road...

July 8 -10:  Client meetings, Chicago, IL

Sept. 14 - 15:  National Association of Real Estate Investment Managers (NAREIM), Executive Officers Fall Meeting, Chicago, IL

Sept. 30 – Oct. 2:  Pension Real Estate Association (PREA) Fall Meeting, Los Angeles, CA

Oct. 9 – 10:  Cornell University Real Estate Conference, New York, NY

Disclaimer 

All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation. 

Father's Day / IMN Conference NYC

Father’s Day

On Sunday I will remember my late father, Manney Felix, and think about all he did to help my brothers and me get a good start in life. Before he moved to Florida, we would make sure to see each other on that special Sunday in June, as Father’s Day became more important to both of us as time went on. I’ll also remember those times growing up that I probably wasn’t the best son in the world and the patience and constant support my Dad showed me during those challenging times.  Thanks Dad.

Much of the world will celebrate Father’s Day on Sunday, June 15^th.  As a father myself, it’s nice to have this day.  But it also brings me back to the time when I separated from the mother of my two sons, Brian and Kevin (both now fathers themselves), and the ‘spontaneous parenting’ opportunities that disappeared - those times when nurturing moments just happened….and were very special.  When I was home and my kids were upstairs in their rooms doing homework (they were always so much more diligent than I ever was!) and I heard one of them call down, “Hey Dad, can you come up here for a minute??”  And I would go, excited that they reached out to me for help. I would sit on the bed and help them work through a math or grammar problem and then hear “Thanks Dad.”  And it felt really good.  When you don’t live with your children, that spur-of-the-moment opportunity generally doesn’t exist.  And it’s just not the same experience over the phone.  

Fathers and children sometimes end up living in different places, making it physically difficult to be together to celebrate.  While it would be nice to see my sons and their families on Father’s day, this year we’ll wish the others ‘Happy Father’s Day’ by phone, or maybe SKYPE. 

It’s an amazing phenomenon to see your children grow up to be parents.  When did that happen?  How is it possible?  It’s a marvelous sight to behold. 

On Sunday I’ll also be thinking about those children in Liberia - whom I’ve met on my two trips with the MacDella Cooper Foundation - who don’t have fathers, don’t know who their fathers are or don’t know where they are.  Many of these children are orphans, or have been abandoned by their families.  As I write this, I’m thinking about these visits to Liberia and how some of the boys would walk next to me and discreetly slip their hand into mine.  It was a sweet gesture but also very sad.  These boys had never had a father present in their lives and, while I was a white man in a black man’s world, color didn’t matter…. I represented something that gave these kids the opportunity to connect, instinctively, for a rare time in their young lives with an adult male with whom they felt safe.  It is a truly beautiful yet heartbreaking memory.

If - for whatever the reason - you can’t be with your father on Sunday, give a call, send a card, or just pause, or stand outside for a minute and look up to heaven and say, “Thanks Dad.”  I truly believe all of these messages will get through to the intended recipient and will be appreciated.  

Happy Father’s Day!

Brian & Kevin Felix (circa 1981)

IMN (Information Management Network) 

“Specialization sells”

“Longer than you think”

“Show what you know”

“If I get an invitation, do I really want to go??”

“Bigger is not always better”

Where did I hear these statements this week?  At IMN’s Real Estate Opportunity and Private Fund Investing Forum in New York City.  As real estate continues to be the asset class of choice for many domestic and offshore investors, the mood at this well-attended event was entirely upbeat.  

Thought-provoking capital raising challenges for new funds were openly vetted at a ‘Vegas-rules’ closed-door 7:30am workshop - facilitated by yours truly.  The subject?  How do new funds raise both institutional and non-institutional capital; how long does it take to raise a fund today; is a commingled fund the best vehicle; and what are some of the lessons that the early-rising industry professionals have learned along the way.  While billed as a session for new funds, the presence of some very experienced industry friends added considerable value to the conversation.  The rewarding experience for me was the openness with which participants shared behind closed doors.  Kudos to IMN for arranging this type of session.

The popular conference - attracting almost 700 attendees - gave me the opportunity to say hello and introduce my partner, Liz Weiner, to a number of folks I hadn’t seen in a while.  

It was a very productive two days for us and, from all the feedback we received, for other attendees as well.  

On The Road...

June 18- 20:  Annual Conference of The National Association of Real Estate Companies (NAREC), Charleston, SC

July 8 -10:  Client meetings, Chicago, IL

Sept. 14 - 15:  National Association of Real Estate Investment Managers (NAREIM), Executive Officers Fall Meeting, Chicago, IL

Disclaimer 

All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation. 

Memorial Day 2014

When I was a kid, Memorial Day was known as Decoration Day, a time for the nation to decorate the graves of war dead with flowers.  Our country has been in numerous wars and millions of Americans have given their lives to protect our way of life.  The Felix extended family lost one member in WW II - my mother’s cousin, Sherwood Racey.  He was a land mine expert and while dis-arming a land mine in Europe the booby trap detonated.  In his honor, my parents gave me his name as my middle name, Steven Sherwood.  His name also lived on until last year when, at age 14, my dog Sherwood died. 

My father, Manney Felix, was a WWII veteran and lived to the ripe old age of 92.  When he was about 80, he finally opened up and told us moving stories of his experiences in the Army Air Corps, which were indelibly etched in his memory.

Manney Felix circa 1941 (age 24)

I was alone with my Dad when he first started sharing these reminiscences.  He seemed relieved to tell them to someone. I was honored that he chose me.  It was difficult, perhaps unfathomable, to even attempt to grasp what he must have felt while ‘over there’ – in some ways it was like understanding who he was for the first time in my life. 

For many years after he returned from overseas, my Dad would frequently wake up – in a sweat – the result of having a bad dream about the war.  And we all know, he was not alone. There are so many who deal with the psychological and physical repercussions of their valiant military experience…both the individuals themselves and the family and friends close to them. It remains a serious problem.  

This morning I heard about an organization called Canine Companions for Independence that provides assistance dogs to war veterans (and others).  Knowing how much my dogs have meant to me, it was great to read about this wonderful service. Here’s their website.

http://www.cci.org/site/c.cdKGIRNqEmG/b.4011033/k.D44E/Veterans.htm

I’m making a modest donation to this group - in memory of both Sherwoods - on this Memorial Day weekend.

On Monday, Americans will physically or spiritually decorate the graves of those military heroes who lost their lives and we will remember their quest to resolve conflict.  As busy as we are, it would be fitting to take a quiet moment on Monday to show our gratitude for the ultimate sacrifice made by so many on behalf of us, the citizens of the United States of America.  No matter how complicated the world and our lives have become, we still live under a flag of freedom and enjoy the protection provided by our women and men in uniform.  

Enjoy the long Memorial Day weekend and the freedom to choose how you wish to spend it.

Congratulations

Barry Ziering joined Guggenheim Partners as Managing Director

Paul Jones on announcing the formation of PL Jones Advisory Services

Ken O’Brien now with IPD as Executive Director and Head of the Americas

Laurie Romanek on the launch of Romanek Real Estate Investment Services


On The Road...

June 3 - 6:  Client meetings, Chicago, IL

June 12 - 13:  IMN's 15th Annual US Real Estate Opportunity and Private Fund Investing Forum, New York, NY  

June 18- 20:  Annual Conference of The National Association of Real Estate Companies, Charleston, SC

July 8 - 10:  Client meetings, Chicago, IL

Summer, 2014:  Tentative trip to London

Disclaimer 

All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation. 

Behind the curtain

In many businesses, there are team members who do what is commonly referred to as ‘grunt’ work or ‘running the numbers.’  When a presentation is being assembled, those same people often remain anonymous and the role they’ve played - helping the firm win new business, or service an existing client - gets lost.  

In the buildings where you live or work, these ‘behind the scenes’ folks include the management and maintenance teams who make buildings run smoothly and provide security for our safety. When speaking of investment opportunities it’s the analysts and research people who are the ‘unsung heroes’. While the Executive Chef created the recipe for the yummy meal at your favorite restaurant, it’s quite likely the sous chef, and other kitchen staff, who make the magic happen.  But they rarely receive appreciation directly from the customer. 

It’s also like that in the music business.  While the songwriter’s name may appear next to the song title, many times people just assume that the performer is also the songwriter. This is not always true.

I saw ‘Beautiful’ on Broadway this week, a fabulous musical based on the life of Carole King.  Many of you know Carole from her career as a singer. But maybe you didn’t know that Carole began as a songwriter; she and her former husband, Gerry Goffin, wrote some of the most popular and memorable songs in rock and roll history. Carole was not actually in front of the audience until later. ‘Tapestry’, her first album as singer/songwriter, is one of the best-selling albums of all time!  

The day after seeing the show I thought of all the people behind the ‘curtain’.  We’re generally not able to go backstage and thank the stagehands, or go into the orchestra pit to tell the musicians how much we enjoyed the show.  At live theatre and musical performances, the applause of the audience is really for everyone involved – and the performers many times are gracious in recognizing the ‘team.’ In most situations - even if we wanted to thank someone ‘behind the scenes’ - we don’t actually have direct access to them.  

In all walks of life there are those who are in the background… the support functions.  These folks do a lot of the work involved in delivering a product or service to the ultimate user, but remain basically invisible.  Many people don’t know who wrote the song – they just know who sings it.

Human beings, all of us, have the need to feel appreciated.  A thank you.  A pat on the back.  A phone call.  Being taken out for lunch… Showing appreciation doesn’t take all that much effort - and it really means a lot to the person on the other end.

There’s always an opportunity to show appreciation to someone ‘behind the scenes.’ Try to find a way to do it.  You’ll be making a difference in someone’s life and, I guarantee, you’ll feel better for doing it. 

Congratulations

Damien Isabella, now Managing Director at TVO Groupe.
Alyson Barnes, vice president at Prudential Real Estate Investors.

Happy Birthday Kev!

On The Road...

May 2 - 6:   Family visit, Asheville, NC

May 16:  Annual meeting of The Hoyt Fellows, North Palm Beach, FL

May 28 - 29:  Client meetings, Chicago, IL

June 12 - 13:  IMN's 15th Annual US Real Estate Opportunity and Private Fund Investing Forum, New York, NY  

June 16 - 19:  Annual Conference of The National Association of Real Estate Companies, Charleston, SC

Disclaimer 

All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation.