Real Estate Bee

Real Estate & Tech

[Real Estate Bee @SF_REbee]

Lfg

[Joshua Kushner @JoshuaKushner]

Today we announce Thrive Eternal, a permanent capital holding company that will be concentrated in a small number of assets that we can own and steward over many decades.

Across Thrive Capital and Thrive Holdings, we are building and investing through a moment of exponential change; backing emerging technologies, the infrastructure that powers them, and the businesses they can transform.

Increasingly, we see a fourth category.

These are assets with qualities that cannot be replicated by technology. Iconic franchises and cultural institutions rooted in tradition, identity, and shared experience. In a world shaped by abundant intelligence where creation scales and distribution fragments, we believe they will matter even more.

Thrive Eternal is built on the belief that the most enduring of these assets share common characteristics: they benefit from long-term stewardship, they compound through cultural resonance, and they are enhanced by technology rather than displaced by it.

Our work at Thrive has always been informed and inspired by a deep appreciation for product, brand, and the ways in which consumers form lasting relationships with the things they love. We have been building towards this for a long time.

Our first partnership is expected to be with the San Francisco Giants - an institution built on more than a century of shared identity and community, and among the most iconic sports franchises in America. We have reached an agreement, subject to league approval, to acquire an ownership stake. We feel privileged by the opportunity to be long-term partners to the Giants.

[Real Estate Bee @SF_REbee]

@DDrolapas Very solid sale!

[Real Estate Bee @SF_REbee]

@DDrolapas Yup & a sunset 2bd under 800k (from facebook)

[Real Estate Bee @SF_REbee]

@DDrolapas Just sunset kid things

[unusual_whales @unusual_whales]

BREAKING: Nancy Pelosi just bought into an LLC that buys commercial office property in San Francisco

[Joe Pompliano @JoePompliano]

Kristen Faulkner (@FaulknerKristen) has one of the craziest stories at this year's Olympics:

• Grew up in Alaska
• Rowed at Harvard
• Moved to NYC after school
• Started working for a venture capital firm
• Took a beginner's cycling class in Central Park
• Started cycling at 5:00 am before work
• Started competing in local cycling tournaments
• Quit her job & moved to California to cycle full-time
• Added to the USA road cycling roster one month before the Olympic Games

And now, just seven years after taking a beginner's cycling class in New York City, Kristen Faulkner has won gold at the Olympics in Paris — the first American to win gold in the women's road race in 40 years.

INSANE.

[Jaime Gray @HiMaeGray]

Kith Malibu…open for business 🏄‍♂️

[Jake @JakeStoutland]

Every real estate investor should save these 2 screenshots on their phone.

Trammell Crow’s 24 lessons from the 1980’s real estate collapse:

[Real Estate Bee @SF_REbee]

@Jason The host of the top vc podcast was 1 block away from (the jury duty) turtle towers the whole time!!

[Jake Wurzak @JWurzak]

People pay $5,000 per night to stay at Amangiri.

It generates more revenue per room than any other hotel in the USA.

Not surprising my conversation on the podcast with the Owner, Homi Vazifdar, was our most popular episode.

Check it out.

0:00 - Homi’s journey into Real Estate and hospitality
5:55 - What is most important when you are reinventing yourself?
7:07 - Building Canyon and the focus on ultra-luxury assets
28:11 - Swapping federally controlled land and creating a profitable asset in remote Utah
50:32 - How do you make a tent experience work?
57:17 - How do you find labor and built infrastructure in these remote areas?
1:00:38 - Is establishing a sense of community at a resort important?
1:07:35 - How have you learned to invest and stay afloat during cycles?
1:18:26 - What will be the biggest challenge in replicating this new concept?
1:20:22 - Homi’s select service hotel
1:27:12 - What is your favorite hotel?

[John Andreini @jandreini1]

Panda Express owners are one of the richest couples in the restaurant industry worth over $20B.

With their cash flow they invest in tons of real estate and as LP’s in businesses.

Unreported is how they acquire most of their real estate via lease clauses allowing them to match purchase offers on properties they don’t own.

They tend to do ground leases in premier locations where they build the building which allows them to:

i) secure depreciation write offs

ii) secure below market rents in exchange for paying construction costs allowing them to acquire at a discount to market

[Matt Allen @investmattallen]

Warren Buffett talks about investing in real estate:

[Compounding Quality @QCompounding]

The Berkshire Internship reading list:

[Real Estate Bee @SF_REbee]

Growing at a sustainable rate

[Jake @JakeStoutland]

Prologis is the largest industrial real estate owner in the world ($112 Billion market cap)

CEO Hamid Moghadam’s strategy on handling debt maturity is brilliant👇

[Conor H. @c_huss]

A truly remarkable photo of JP Morgan's 270 Park Ave construction site

The trades will forever be underappreciated

[Chris Powers @fortworthchris]

🚨New Episode: Please welcome @shiloebear to the Fort!

As the founder of Creek Development, Shiloe has completed 63 commercial redevelopment projects and 5 land entitlement plays in the San Francisco Bay Area. Leveraging her deep construction expertise, she challenges project assumptions and incorporates impactful design to achieve remarkable outcomes for her clients and investors.

We discuss:
- Building Creek as an outsourced developer
- Converting industrial buildings into biotech lab space
- A deep dive into the Bay Area RE market
- Why design is such an important aspect of development

00:00:00 - Intro
00:01:11 - Shiloe’s upbringing and journey to doing development in the Bay Area
00:08:25 - What are the projects you work on the most?
00:11:01 - Why is there such a demand for outsourced development?
00:11:47 - What makes your firm different?
00:16:50 - Minimum Viable Projects
00:21:47 - How early in a project do you need to be brought in?
00:25:14 - What are some obvious parts of a project where you can save money?
00:27:30 - How would you describe the Bay Area market right now?
00:33:35 - Office to Residential
00:37:46 - What’s the environment like for Oakland?
00:42:31 - How Shiloe is planning to pivot her business into doing their own developments
00:47:51 - How important are the relationships you’ve developed in The Bay over the past 10 years?
00:53:06 - The BioTech market and development strategy
01:00:55 - Why design matters
01:08:27 - How far out are labs looking for space?
01:09:46 - Lenders, Leases, and hold periods
01:12:36 - Why did this become your niche?
01:14:13 - Shiloe’s bird-watching skills & long-distance running

[Real Estate Bee @SF_REbee]

@BrendanFWallace Soma, sf is adding public infrastructure to handle the absorption when the city has a population spike

Great location in proximity to freeways to handle workers coming from outside of sf

[Real Estate Bee @SF_REbee]

I knew Airbnb was going to crash once they gave me a chore list on vacation. With surrounding hotels charging lower rates it’s hard to justify “app ordering”

[richard fertig | next gen hospitality developer @imrichardfertig]

Absurd! 😱🤦‍♂️ Seriously? 🤷‍♂️

Guest experience > operator experience!

The antithesis of hospitality: pro mgmt co handling brand new upscale STR charged us cleaning fee & gave us a laundry list of cleaning chores (attached).

We paid > $1000 / nt.
Paid cleaning fee, couple hundred $

Early morning flight so after dinner, we’re running around pre cleaning before the paid cleaning. Exactly the opposite of how we want to spend our last night. No bueno.

In contrast, when guests check out of our properties, we wish them a safe trip home and hope to see them again. Our cleaning teams handle the rest.