This week’s episode features Joel Friedland, a past guest who was quite popular with the audience.
In this follow-up interview Friedland joins host Chad Griffiths to provide new insights into the state of the industrial real estate market, including his thoughts on the current state of pricing for assets in the sector.
Friedland has a 42-year track record in industrial real estate, and is based in Chicago. He co-founded Epic/Savage Realty Partners in 1991 where he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners.
His group sold the firm to an international real estate company in 2014 and Friedland then founded Brit Properties. As an industrial real estate broker and owner, he has secured over 2,000 industrial property leases and sales, totaling over US$2 billion in transactions.
He considers his greatest accomplishment in maintaining valued relationships with brokers, tenants and investors spanning five decades. He does fully syndicated deals with zero per cent debt, a rare approach in real estate, which caters to his wealthy investor base primarily concerned with conservation of principal.
His experiences during the Great Recession in 2008 have informed his investment approach to be hyper-conservative while still allowing an approximately eight per cent cash return, plus upside, for his investors.
