Matt Lasky (demure) @MattLasky Twitter profile | Pikagi

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Matt Lasky (demure)

@MattLasky

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CRE Guy // $1.5B+ of transactions in healthcare & retail as a principal or advisor | side project -

Columbus

Joined April 2009

Don't wanna be here? Send us removal request.

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@MattLasky

Matt Lasky (demure)

4 years

Given the amount of newer followers, a thread on who I am: I have 2 role's: 1) Partner in CRE private equity w/ a focus on opportunistic-core plus medical office buildings & neighborhood retail. 2) co-lead an advisory team that does real estate strategy work nationwide

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@MattLasky

Matt Lasky (demure)

2 months

Head of Acquisitions & Head of Asset Management

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@MattLasky

Matt Lasky (demure)

2 years

Is Wells Fargo proactively opening accounts in anticipation of new deposits?

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@MattLasky

Matt Lasky (demure)

2 years

Think inflation is bad now? Wait until the “blue collar” labor of today ages out and retires then the void hits. We need to solve the skilled trades talent shortage.

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@MattLasky

Matt Lasky (demure)

1 year

The concept of paying a fee to wire your own money will aggravate me my entire life.

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@MattLasky

Matt Lasky (demure)

3 years

As someone who sits as both a GP/LP in a number of real estate investments, below are some questions that I ask in lieu of their common counter parts. We'll have fun and do broke (b) versus woke (w) in homage to the internet meme gods. Time for a short🧵:

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@MattLasky

Matt Lasky (demure)

8 months

Still wild to me student loans aren’t dischargeable in bankruptcy

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@MattLasky

Matt Lasky (demure)

2 years

Ever wonder about the $460 Billion industry of medical office buildings? Chances are you're going to be spending more time at them as you fight the war against time. A thread on trends in the asset class, why we're BULLISH, and how well it holds up in recessions:

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@MattLasky

Matt Lasky (demure)

3 years

Firmly believe CRE has made so many wealthy because it's a forced savings account with decent frictions to sell and no daily marking to market. Let's take an example of buying an asset for 10-years at 75% LTV. Over the first 10 years with a normal 25 year am you're averaging a

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@MattLasky

Matt Lasky (demure)

4 years

Anyone else look back on their finance education and get upset when they think about the money and time spent on learning efficient market hypothesis?

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@MattLasky

Matt Lasky (demure)

3 years

Was in a meeting w/ a developer & Costco as the anchor for a huge deal. A handful of members of costcos team were there. He walked in & said we’re going to make a deal today where everyone feels good & we’re not leaving this room until we get there. Changed the tone dramatically

@moseskagan

Moses Kagan

3 years

If you find yourself in a high-stakes negotiation with a long-term partner and you have a lot of leverage, which you know you aren’t going to use: Start by taking that gun off the table immediately. Dramatically reduces tension and increases odds of finding a fair way forward.

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@MattLasky

Matt Lasky (demure)

2 years

If there’s anything REtwit has taught us, there’s many different ways to make money as an investor. People are on here &building in public. What follows is a list of investors, grouped together by how I’d categorize their investment strategy. What follows is a substantial list:

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@MattLasky

Matt Lasky (demure)

2 years

It will never cease to amaze me that you’re one great real estate deal away from life changing money

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@MattLasky

Matt Lasky (demure)

2 years

Anyone ever see a big meeting, mentally try to guesstimate the cost, and just think people are lighting money on fire

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@MattLasky

Matt Lasky (demure)

3 years

A number of people have asked @realEstateTrent or I where to get information. I've mentioned I love reading REIT reports for trends and sometimes micro level information. I mentioned to @moseskagan this is part of our edge (can work smarter, not harder). A thread on $BRX most

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@MattLasky

Matt Lasky (demure)

2 years

@volvoshine It’s not petty… pretty standard big city developer move to do that or buy air rights in cities that have them

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@MattLasky

Matt Lasky (demure)

5 years

1/n) Below is tweet storm of my journey into public market investing/trading, how I learned, and a thank you to those who have helped (direct & indirect) along the way: It was 3 years ago just before Easter we were on our way to Amsterdam for 10 days (it was a work trip for my

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@MattLasky

Matt Lasky (demure)

3 years

Business idea... a commercial real estate lender who does what they say they're going to do and is on time when they do it

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@MattLasky

Matt Lasky (demure)

2 months

Lender: we don’t really like cash out refis Me: if someone was buying this property from me at the basis I’m requesting, you would lend, right? Lender: yes but it’s different Me: you’re right, we’ve owned the asset for a few years, know the tenants and operational

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@MattLasky

Matt Lasky (demure)

1 year

You’ve never really cold called for CRE until you’ve asked someone’s widow for their spouse who is no longer with us.

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@MattLasky

Matt Lasky (demure)

2 years

If you aren't reading the quarterly reports / investor presentations of major REITs and occupiers in your asset class you're doing yourself a major disservice

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@MattLasky

Matt Lasky (demure)

5 years

In an effort to bring more transparency to CRE, a deal from the trenches: We bought a half leased medical office building for 55/sf (~1/4th replacement cost) in a prestigious suburb of a declining MSA. Normally we want growth tailwinds but this suburb had been growing and is a

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@MattLasky

Matt Lasky (demure)

3 years

Everyone do your own homework, but I had the fortune of seeing @realEstateTrent 's pitch deck and it's a master class in repositioning strip and stnl retail. For what it's worth, I audited 20 deals (purchase price, sales price, buyer) and they are all legit.

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@MattLasky

Matt Lasky (demure)

2 years

Friendly reminder it's very tough to blow-up if you do the following in CRE: -long duration debt (7-10 years) -fixed rate and/or rate caps -healthy in-place dscr / debt yield

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@MattLasky

Matt Lasky (demure)

1 year

RIP to one of the investment goats. Rest easy Sam Zell

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@MattLasky

Matt Lasky (demure)

2 years

Best JV I’ve done in my life. She said yes 6 years ago to the date

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@MattLasky

Matt Lasky (demure)

3 years

As I grow I'm becoming obsessed with structure and taxes. I think there's a TON to be learned from public market investors/traders when it comes to risk management and viewing the world. A 🧵 how a high income earner can create an option using commercial real estate.

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@MattLasky

Matt Lasky (demure)

2 years

Real talk- Jan 10th I had a blood pressure test that was edging up towards the low end of the high. Today, down 20 lbs from that date and did daily monitored cardio and vastly improved my conditioning. Have a bias towards action this week and take care of the one body you get.

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@MattLasky

Matt Lasky (demure)

1 year

Been a bit quiet but it’s all coming together 👀

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@MattLasky

Matt Lasky (demure)

3 months

@leah_walczak Section 721 exchange (upreit) probably, not a cost seg would likely accomplish that.

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@MattLasky

Matt Lasky (demure)

11 months

Just when I thought retwit couldn’t hit a new low the past couple weeks. Smh. Doxxing is below the belt.

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@MattLasky

Matt Lasky (demure)

4 years

Kind of a simple thought, but if you had $1 million deployed in equity in cashflowing cre at 30 at 75% LTV, and just maintained your assets (no excess cashflow or depreciation), you'd have $4 million at 55 after having tenants pay down debt for 25 years. Thats a return of 5.7%

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@MattLasky

Matt Lasky (demure)

2 years

Derby days

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@MattLasky

Matt Lasky (demure)

2 years

Government interference in the free markets usually ends well 🤦‍♂️

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@MattLasky

Matt Lasky (demure)

4 years

Good morning except to those who say "I don't care where we eat" and then deny my first two suggestions.

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@MattLasky

Matt Lasky (demure)

2 years

Real FU money and generational wealth is being able to buy whatever you want in the airport without worry

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@MattLasky

Matt Lasky (demure)

2 years

@RohunJauhar Always prided myself in game selection… no bonus points for winning harder ones

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@MattLasky

Matt Lasky (demure)

4 years

We're at the I just got a random text offering to buy my house stage in the market

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@MattLasky

Matt Lasky (demure)

3 years

#cretwit has talked ad nauseum about the beauty of CRE due to it's simplicity (we aren't that smart) relative to other assets. It's true & part of my heart goes out to that, BUT I'm a structure/finance guy by neurosis, a 🧵 on common mistakes I see that cost owners MILLIONS💰💵

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@MattLasky

Matt Lasky (demure)

2 years

@RohunJauhar I thought twitter was supposed to be broken by now 🤷‍♂️. Can’t wait to watch this team dominate.

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@MattLasky

Matt Lasky (demure)

3 months

@leah_walczak Not sure o follow the cost segregating to a reit part?

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@MattLasky

Matt Lasky (demure)

3 years

Friendly reminder that if you do what you say you’re going to do you’ll be head of 90%+ people in the CRE industry

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@MattLasky

Matt Lasky (demure)

3 years

Yeah sex is cool but have you ever hit a hole in 1 on the 16th at the waste management

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@MattLasky

Matt Lasky (demure)

1 year

Whole team has vests on today. We’re so back.

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@MattLasky

Matt Lasky (demure)

2 years

Bird app continues to impress... Earlier this week we closed a completely off market deal as a result of being on here

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@MattLasky

Matt Lasky (demure)

3 years

Good morning except to those of you who didn't enjoy the Carl Icahn documentary

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@MattLasky

Matt Lasky (demure)

3 years

My wife cannot stand the bucket hat, but today it brought me: -free beer from the cart girl -liquor store was out of angels envy and I asked if they had it and he pulled it out and gave it to me for whole sale -pars on all the par 3’s I think it’s magical

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@MattLasky

Matt Lasky (demure)

3 years

@realEstateTrent Everyone and appraisers

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@MattLasky

Matt Lasky (demure)

4 years

A thread on the journey as a CRE broker with tips/tricks & candor. First year in the business is typically a brutal whirlwind where you're absorbing everything you can and prospecting like a wild animal. With time you get better and hone in to a better approach to hopefully work

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@MattLasky

Matt Lasky (demure)

1 year

So many kind messages going around ReTwit today & for good reason, we lost a great one. Let's take this moment to all become kinder humans & practice complimenting the great people in our lives/showing gratitude, "just because." You never know who needs positivity...

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@MattLasky

Matt Lasky (demure)

4 years

California may have some fiscal/policy issues but my gosh is the lifestyle here tough to rival

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@MattLasky

Matt Lasky (demure)

1 month

Some of y’all need to learn about the difference in the fed funds rate versus treasuries, the yield curve, and how rates that affect CRE are forward looking

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@MattLasky

Matt Lasky (demure)

10 months

Last photo of 2023, let’s crush the next trip around the sun

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@MattLasky

Matt Lasky (demure)

2 years

Realized this morning that my drive as an entrepreneur was greatly influenced by a couple moments in my childhood where I had unfavorable athletic outcomes that were a result of politics (insecure parents) and not meritocracy

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@MattLasky

Matt Lasky (demure)

9 days

Special shoutout to the girl last night from the bar who asked my wife if she was being abducted.

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@MattLasky

Matt Lasky (demure)

1 year

@fed_speak On behalf of retwit (people who run commercial investment platforms), plz don’t write us off for this. …can’t imagine quoting my “gross” rental income on a typically highly leveraged asset

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@MattLasky

Matt Lasky (demure)

9 months

Everyone I know who has made substantial wealth (not inherited) worked A LOT in their 20's

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@MattLasky

Matt Lasky (demure)

4 years

Have heard from multiple bankers we're lending on anything but retail and hospitality. Now I know where to go hunting

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@MattLasky

Matt Lasky (demure)

2 years

Anyone have any idea how much additional wealth was created for founders/vc partners who banked at svb by utilizing their debt (thus retaining more equity) when virtually no other banks would extend credit to cash burning companies?

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@MattLasky

Matt Lasky (demure)

2 years

@sweatystartup lot's of large scale infrastructure neglect outside of the metaverse

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@MattLasky

Matt Lasky (demure)

4 years

Under rated in CRE is the pay down of debt. Take a 4mm investment with 25% equity, a 25 yr loan with a 3.75 int rate. By end of year 5 you’ll have paid down ~400k in debt, a return of 40% on your equity. Youve presumably had cash flow the whole time. Tax efficient gains

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@MattLasky

Matt Lasky (demure)

2 years

Avoid these two things in real estate and it’s tough to get hurt: 1) being a forced buyer 2) being a forced seller Most of that comes down to capital (debt/equity) structure

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@MattLasky

Matt Lasky (demure)

4 years

Exceptionally good day in CRE land today. Got loan committee approval on two separate acquisitions, raised a couple million from one of our favorite LP's, and got introduced to a fun and complex 1031 assignment. Off to look at a building we're under contract on in Tempe.

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@MattLasky

Matt Lasky (demure)

3 years

Playing a nice club today with some extended family (I’m their guest). Should I show up with fireball?

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@MattLasky

Matt Lasky (demure)

4 years

Getting personal here for a minute as it's my mom's birthday. She passed while I was in my 20's and was the reason I got into real estate. With no college education she grinded her way into management roles and was able to buy a prime chicago condo in foreclosure that she never

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@MattLasky

Matt Lasky (demure)

2 years

Hope you all crushed ‘22 and here’s to dominating ‘23 from our fam to y’all

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@MattLasky

Matt Lasky (demure)

4 years

Right now poses a unique & great (my opinion) time to start a career in commercial real estate brokerage industry. Let me explain: 1) Most brokerages are trying to figure out succession planning for their top producers. Per the national association of realtors in 2018 the

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@MattLasky

Matt Lasky (demure)

8 months

Celebrating my 35th trip around the sun today. A musing for each year (CRE/life/entrepreneurship): 1) Kindness is free 2) Don't let perfection be the enemy of good enough 3) Nobody has it all figured out 4) Focus on the process, not the outcomes 5) Time is the #1 resource

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@MattLasky

Matt Lasky (demure)

3 years

Friendly reminder with all the bear porn out there that if you top ticked the CRE market in 06-07 you had recovered full value by 2013 (on average). Keep cash reserves for a rainy day, don't over leverage, and manage those debt maturities.

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@MattLasky

Matt Lasky (demure)

3 years

Potentially my least favorite email in CRE from a lender: "attached is the appraisal, call me"

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@MattLasky

Matt Lasky (demure)

3 years

This may be controversial. Every now and then in CRE there is something we buy that is just wildly mispriced. We look at 1000's of deals a year & sometimes these gems pop up... it's a bit like micro/small cap investing where a cheap opportunity just hits you over the head 🧵

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@MattLasky

Matt Lasky (demure)

4 years

In CRE investing, you're constantly entering into contracts and vetting other service providers, such as: -lawyers -accountants -brokers (leasing, debt, sales, etc) -property managers Some of the best advice I received form a law firm partner. YOU HIRE THE PERSON NOT THE FIRM.

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@MattLasky

Matt Lasky (demure)

4 years

Here's the part they don't tell you and what my wife had to endure. She started out making great money out of college while I was a broker slanging deals in a town I was brand new to... dialing for dollars. Guys trying to impress her and girlfriends looking to give her "advice"

@sweatystartup

Nick Huber

4 years

A supportive spouse will 10x your success. The opposite will 1/10 your success.

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@MattLasky

Matt Lasky (demure)

3 years

People going to be thinking about that language in leases about CPI increases

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@MattLasky

Matt Lasky (demure)

2 years

We’re under contract on 3 deals, all have 250+ bps of spread from debt (fixed rate) to going in cap. It can be done folks!

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@MattLasky

Matt Lasky (demure)

2 months

Ever wonder about the $530 Billion industry of medical office buildings? Chances are you're going to be spending more time at them as you fight the war against time. A thread on trends in the asset class, why we're BULLISH, and how well it holds up in recessions:

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@MattLasky

Matt Lasky (demure)

4 years

Here we go again... another deal case study. We bought a 74% leased ~160k medical office building for 129/sf. This was well below replacement cost as 45k sf was a surgical hospital. This was in a top 25 MSA that had been growing. Why'd we buy- -advantaged below cost pricing

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@MattLasky

Matt Lasky (demure)

4 years

Celebrating a milestone of 5,000 followers today.. thanks to all as this CRE Twitter experiment has been one of the most exciting parts of COVID. Feel free to ask me anything

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@MattLasky

Matt Lasky (demure)

2 years

Twitter is a constant reminder there are very opinionated people with no skin in the game, unwilling to put skin in the game. Be skeptical of these people. I'll take someone who steps in the arena over that.

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@MattLasky

Matt Lasky (demure)

6 months

Guy I golfed with last night asked: “Do you work?” Not sure if I should be flattered or insulted

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@MattLasky

Matt Lasky (demure)

2 years

Friendly reminder that kindness is free and you never know what someone else is going through, especially this time of year.

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@MattLasky

Matt Lasky (demure)

2 years

Often times real estate asset management feels like one big game of calling your tenants bluff

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@MattLasky

Matt Lasky (demure)

2 months

@bankingslut Plz fix

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@MattLasky

Matt Lasky (demure)

5 months

@EllliotttB Lots of diversity, almost every pastel polo is covered

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@MattLasky

Matt Lasky (demure)

8 months

Stats as an adult: 1 cold plunge 0 pant shits …still managing to do fine entrepreneurially

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@MattLasky

Matt Lasky (demure)

2 years

Y’all signed a debt term sheet today… High leverage (80% ltv), 4.3 rate, 12 months I/o, 10 year All hope is not lost, don’t @ me either, it’s a 1.55 dscr

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@MattLasky

Matt Lasky (demure)

11 months

LP: is our investment going according to plan? Penn/Harvard/MIT educated GP: depends on the context

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@MattLasky

Matt Lasky (demure)

1 year

Regularly see CRE industry people comment on what brokers make (can be eye opening). I always tell them to hop in the arena with us. Few do... a lot easier to talk about it than be about it. To my fellow brokerage aficionado's, I salute you. Below is a list of some great ones:

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@MattLasky

Matt Lasky (demure)

4 years

Tales from the CRE trenches. 1)Someone asked about the worst deal I’ve been apart of. Since we just finalized what is likely the last lease, thus completing the business plan last week, here it goes: Opportunity/thesis: Bought a 26,268 sf Medical Office Building in an affluent

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@MattLasky

Matt Lasky (demure)

1 year

Commercial real estate brokerage is a beautiful cash generative entrepreneurial endeavor. I've been in the industry 12 years, it's all I've done post graduating college. Here's my path:

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@MattLasky

Matt Lasky (demure)

4 years

Me: I think I want to pay off the house Wife: This happens every time at year end Me: yeah, but I think this is the year Wife (finance major): isn't our interest rate around 3%? Me: yes and.... Wife: What have you compounded capital at? Me: touche

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@MattLasky

Matt Lasky (demure)

2 years

Sunday driving thoughts: You can likely always earn more money but you can’t earn more time. Careful balance between saving for the future and enjoying the present

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@MattLasky

Matt Lasky (demure)

6 months

Southwest flight attendant liked my pocket square and told me “it looks like I fly delta” this am. I’m dying.

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@MattLasky

Matt Lasky (demure)

4 years

The latest to my collection and what a tasty gem this is

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@MattLasky

Matt Lasky (demure)

2 years

If you’re a part of the whole “never sell” cre group that seems to be around here, what’s the case for doing that in private cre instead of a reit that has a cheaper cost of capital, lower fees, and thus access to better quality cre

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@MattLasky

Matt Lasky (demure)

4 years

$13.95 for two Valentine’s Day cards and people out there questioning if inflation is real

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@MattLasky

Matt Lasky (demure)

3 years

Advisory numbers are in for the year and the team rocked this year. -deals in 23 states -110+ transactions -over 400k of medical/retail space leased -over $100mm in lease consideration Substantial growth through the last 2 years & the biggest pipeline we’ve had. Cheers to 22

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@MattLasky

Matt Lasky (demure)

3 years

More than half or real estate is just managing emotional sellers & buyers

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@MattLasky

Matt Lasky (demure)

3 years

Good morning to everyone except those who let facts hurt their feelings

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@MattLasky

Matt Lasky (demure)

8 months

Are you investing in real estate or making an implicit bet on interest rates? Know the difference.

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