Unlocking Opportunities in Vacant and Underperforming Commercial Properties with Real Estate Investor Dave Codrea

The Real Estate Law Podcast

We're excited to introduce our guest today, Dave Codrea, co-founder and partner at Greenleaf Capital Partners, a prominent real estate investment firm headquartered in Atlanta. With over two decades of industry experience, Dave offers a wealth of knowledge and insights into the dynamic commercial real estate landscape. We look forward to delving into Dave's innovative strategies for identifying and addressing challenges in the CRE market, as well as exploring how Greenleaf is adapting commercial spaces creatively to meet the evolving needs of tenants and investors.

Discover Greenleaf's unique approach to commercial real estate investing as Dave shares how they tackle vacancy issues and underperforming assets by converting large commercial spaces into smaller, more manageable units for tenants like medical offices and indoor training facilities.

Explore the challenges of financing commercial properties with 5-year loan terms and prepayment penalties, and how Greenleaf aligns investors' interests. Dave also discusses broader market trends, including converting office buildings into residential spaces and adding amenities like pickleball courts in office parks. Learn about Greenleaf's capital-raising strategies and the firm's resilience in the ever-evolving market. Don't miss this episode for a fascinating glimpse into innovative commercial real estate strategies!

Things we discussed in this episode:

• Greenleaf Capital Partners' focus on identifying and solving problems in commercial real estate, particularly with vacant or underperforming properties.
• The firm's strategy of converting larger commercial spaces into smaller, more manageable units for tenants like medical offices, indoor training facilities, and single-story suburban offices.
• The challenges of financing and refinancing commercial properties, including the prevalence of 5-year loan terms with prepayment penalties.
• The potential for converting large office buildings or retail spaces into residential use, and the structural limitations that can make this difficult.
• The rise of amenities like pickleball courts in office parks, and the concerns around noise and NIMBYism.
• Greenleaf's approach to raising capital through syndicating deals to individual investors with a minimum investment of $25,000.
• The importance of aligning investors in real estate deals to avoid future problems.
• The tax benefits of using 1031 exchanges and depreciation for active real estate professionals investing in Greenleaf's deals.
• The diverse range of tenants Greenleaf has attracted, from recycling electronics to race car simulation companies.
• The resilience of the U.S. economy and the importance of optimism and perseverance in business.

Get in touch with Dave:

Linkedin - https://www.linkedin.com/in/davidcodrea/overlay/contact-info/

Website - https://www.gogreenleafmanagement.com/

Email - [e-mail]

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This podcast and these show notes are not legal advice, but we hope you find both entertaining and informative.