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The FORT with Chris Powers


Apr 20, 2020

Moses Kagan, CEO of Adaptive Realty, joins Chris for his second appearance on The FORT Podcast. In this episode, they discuss how COVID-19 has affected the real estate market in Los Angeles. Moses gives his perspective on best practices providing rent relief to tenants, the effectiveness of Adaptive's all-cash buying strategy in this environment, capital markets, financing, opportunity zones, and much more. Enjoy! Follow Chris on Twitter @FortWorthChris For more information on Chris Powers and Fort Capital, visit www.fortcapitallp.com. 01:00 — Multifamily and COVID-19 in Los Angeles 02:30 — How is Los Angeles handling this compared to other parts of the country? 04:45 — How are you offering relief to tenants? 06:36 — What does “you don't have to pay rent” really mean? 07:23 — What could others learn from the way you’re providing rent relief? 11:35 — Now Until July: Worse, Better, or Same? 13:21 — What does the leasing experience look like now? 13:51 — Will this situation lead to an influx of tenants who were originally planning to buy? 15:03 — Did you have anything under contract prior to the pandemic? 15:54 — With an all-cash purchase strategy, has financing worked in your favor? 16:58 — What are you seeing in capital markets right now? 20:13 — How does getting a loan look different now versus 60 days ago? 22:08 — Has your underwriting process changed in terms of becoming comfortable with a price? 26:10 — 15% Drop in Rent vs. Purchase Price 27:08 — What does your equity environment look like? Are you currently raising capital? 31:29 — What are you doing in opportunity zones? 33:15 — Is there a specific time frame when capital needs to be deployed into an opportunity zone? 34:55 — If a deal walked in today, what would it have to look like for you to pursue it? 38:00 — Are you making distributions to investors or are you holding back to create a safety margin? 40:08 — What is different between now and ’08-’09? 43:11 — Are you changing your focus at all with hotel and retail becoming so cheap? 46:06 — Is there anything you're hoping to hear from Washington that you haven’t already? 49:24 — If you had to make a bold prediction for the end of 2021, what would most people not agree with you on? The FORT with Chris Powers is produced by Straight Up Podcasts