In this episode of Deal Flow Friday, host David Moghavem speaks with Garrett Nondorf of Flagship Capital, a highly active Middle Market Credit and Equity allocator. They discuss the active deal flow at Flagship, including recent term sheets and the company's approach to investments in steady markets such as the Midwest, dive into the challenges in the Sun Belt, the supply side story within the Pacific Northwest, and operational issues affecting real estate in various geographies. Garrett shares insights on how sponsors can navigate the current market conditions and successfully raise capital.
Chapters
00:00 Intro, 'Stash talk', & LinkedIn Meme Game
02:55 How is Flagship Capital Getting Deals Done?
06:42 Focus on Equity Investments
09:30 Steady-eddy Midwest
16:39 SunBelt Owners Are Starting to Capitulate.
20:46 Operational Challenges in the Market
23:06 Pac-NorthWest, Supply-Side Story
24:50 Challenges in California's Housing Market
26:18 Navigating Investment Committee Challenges
29:32 Identifying Opportunities in Secondary Markets
32:18 Operational Challenges and Cost Stabilization
37:20 Advice for Capital Raising in Today's Market
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