Alexander is joining us today to share his background, how he got into real estate investing and built a large company focused on investing and managing real estate. We’ll hear a couple of case studies from some of his deals, how he found them, financed them, and what he’s done with the deals since acquiring. If you enjoyed today’s episode remember to subscribe in iTunes and leave us a review!
Best Ever Tweet:
“There are so many career opportunities in real estate” – Alexander Radosevic
Alexander Radosevic Real Estate Background:
- Launched his real estate company, Canon Business Properties, in 2001
- His company now owns or manages over $2 Billion of retail, hotel, industrial, and residential properties
- Based in Beverly Hills, CA
- Say hi to him at https://www.canonproperties.com/
- Best Ever Book: Great by Choice
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TRANSCRIPTION
Joe Fairless: Best Ever listeners, how are you doing? Welcome to the best real estate investing advice ever show. I’m Joe Fairless, and this is the world’s longest-running daily real estate investing podcast, where we only talk about the best advice ever, we don’t get into any of that fluffy stuff. With us today, Alexander Radosevic. How are you doing, Alexander?
Alexander Radosevic: Doing great!
Joe Fairless: I’m glad to hear that, and looking forward to our conversation. A little bit about Alexander – he launched his real estate company Canon Business Properties in 2001. His company now owns or manages over two billion dollars of retail, hotel, industrial and residential properties. Based in Beverly Hills, California.
With that being said, do you wanna give the Best Ever listeners a little bit more about your background and your current business focus?
Alexander Radosevic: Sure. Initially, I was an investment banker with Lehman Brothers, from ’84 to ’87. That collapsed, and I got involved with real estate through a client, and have consistently stayed in that marketplace, from the acquisition side, into management and construction… And the focus of our company is in those areas today. We focus on retail investment, commercial/industrial investments, we also then take care of construction and construction management, and we’re also advisors in other genres for debt financing and things along that nature.
Joe Fairless: So when you were an investment banker and you transitioned into real estate full-time, what were a couple of your first projects that you worked on?
Alexander Radosevic: Interestingly enough, I was involved with debt financing first. Numbers is something that comes very good to me… So I analyzed a lot of properties first, before we started making acquisitions. So it gave me a lot of understanding really how properties operate. And I looked at industrial, office, retail – all different types of investments, from the analytics side, and see how profitable they were for our investment purposes. That was my first role in real estate mentor.
Joe Fairless: So you were a W-2 employee, assessing opportunities that you all wanted to finance?
Alexander Radosevic: Yes.
Joe Fairless: Okay. And then how long did you have that role?
Alexander Radosevic: To give you an idea, after about two years of doing this, one of the brokers I did a transaction with – I asked “How did everything go? Were you happy with the funding?” [unintelligible [00:03:36].20] “What are you gonna do with your $10,000?” and I was like “Excuse me?” He said “Yeah, isn’t that what you made on this?” And I was thinking like “Wow, this is interesting. What did you get out of the deal?” and he said “Well, I made $50,000 out of it.” So I had immediately said selling is a much better opportunity from the side of the financing for me at that time, I thought, and I enjoyed getting out of the office and working on properties. So that sort of conversation got me to get out of an office, go entrepreneurial, and begin to search for investments on my own, and that’s how I started my company. I was driven by the commission dollars earned from the sale and acquisition side, other than the financing side.
Joe Fairless: So you had that background both from Lehman Brothers as an investment banker, and then also looking at debt financing… And what was the first couple projects as an entrepreneur?
Alexander Radosevic: Well, probably the one that I’d say to me was the best one for me long-term – in 1994 we had the L.A. riots here, and South Central L.A. was the area which was hurt the most. At that time I was looking at properties there and found an abandoned bakery, about a 40,000-foot single-tenant building. It had been burnt. I took a risk, which we all know risks can have great rewards… I acquired the property, I went in, I had some construction background already through my family, and my father was in the construction business… I went through, cleaned the property up, and converted it into a nine-unit multi-tenant manufacturing/warehousing building.
What that became was my first value-add project, really without even knowing it. And it sort of set a template for me going forward, and it’s something I still do today.
Joe Fairless: How did you get the funds to purchase that?
Alexander Radosevic: My very first real estate transaction of my life – I bought land at Laughlin before Laughlin was ever developed. I was reading something called The Penny Saver; it was a throw-away paper here in L.A. while I worked at Lehman Brothers…
Joe Fairless: Sure.
Alexander Radosevic: …in my twenties. I think I was 22 at the time when I bought it… And I bought 2,5 acres on the river, which as we know Laughlin, Nevada has now turned into quite a profitable sort of marketplace. There’s hotels, some 60,000 people there living, and so forth. So that was my first opportunity in real estate, and I used those funds from the monies I made there and continued to invest those monies when I sold out of that property and invested into other real estate opportunities.
Joe Fairless: And that abandoned bakery – did you get financing on it?
Alexander Radosevic: Yeah, we did. At the time it was tough to get…
Joe Fairless: I bet.
Alexander Radosevic: [unintelligible [00:06:25].04] you’re talking double-digit rates… But I think I probably leveraged somewhere around 40% debt. It was all I could get out of it… So I had to raise 60% capital. but once I got the capital, the profit — not even the profit, really. The building was bought at such a good price, obviously, like anything in that time. It was worth it. I took a little risk, and the rewards were there.
Joe Fairless: So it’s been a little while since that property that we’re referring to, and I respect your memory. I appreciate you going back in time with us on this… You’ve clearly grown your company to a great degree since then… So along the way, my assumption is that you’ve optimized certain things that you do now on deals, compared to when you were doing your first handful of deals as an entrepreneur. What are some things that you’ve now optimized, knowing what you know now?
Alexander Radosevic: Well, from a standpoint of acquisition, due diligence has become to me the key to all the opportunities I find for myself personally, and those that I represent on transactions. I’d say the ability to gather and review information today, in comparison to what I did 20 years ago, is really one of the key elements to what we do for not only myself, but for my clients. We’ve got a very vast portfolio of property. We look at tons of deals all the time, and our ability to thoroughly examine cashflow, marketplaces, management, financing, all within a concise period of time, so that we’re performing and not losing opportunities, like we had at times – I’d say that’s been probably the key growth for me personally, is to have the ability to analyze the information quickly, and that the information is accurate and thorough. It’s been a great change for us.
Joe Fairless: Would those be the four buckets that you do due diligence in? On a high-level… Cashflow, marketplaces, management and financing?
Alexander Radosevic: Well, those four are critical. Look, first of all, you have to know what you want to achieve. Are you looking value-add, are you long-term hold, are you short-term? Are you gonna tear down, develop? You have to know what you’re shooting for, but first and foremost, like they say, “location, location, location”, and then of course, pricing and financing, because you’ve got debt… And for me, since we have a lot of properties under management, we’re real strong on who will be the team that’s gonna be responsible for that asset as it’s being repositioned or acquired. So those are four strong buckets, but there are other criteria in which we may look at something for a specific client… Especially if we’re looking for trophy/legacy properties. There are other very serious factors to look at, and those become a little bit more detailed… Without getting into that; I’ll just leave it at that. But there’s other criteria for different acquisitions, but those would be the four primary.
Joe Fairless: Let’s go with any of them, whichever one you wanna go with. Cashflow… When you say marketplaces, just so I’m tracking what you’re talking about, what are you referring to?
Alexander Radosevic: Okay, so for us it was some corporate offices here in Beverly Hills. We consider L.A. our home base… Outside of Beverly Hills, a province within L.A, right? So we look at the marketplace here as a focus — if we’re looking at retail, we might be looking in Beverly Hills specifically; we might be looking at a trophy sort of property on Rodeo Drive. And then within that area it’s just gonna be a long-term hold for the family, are we looking to perhaps take out a quality tenant, bring in a new tenant that the family has a relationship with? It’s that sort of criteria.
If we’re looking at industrial properties, which I’m a big fan of, to be honest with you, we’re looking for properties that are located near international airports in major cities like LAX, Denver, Cincinnati. We’re looking for major distribution centers, let’s say within a mile or two-mile radius, that we’re looking to acquire to develop… So that marketplace already has a built-in need, or a built-in opportunity, if you will. That’s the criteria in which we’re investing for that particular purpose. And again, we’re in different areas, but let’s just hone in on the idea of industrial, for instance.
Joe Fairless: Sure.
Alexander Radosevic: We’ve looked at stuff in Houston, George Bush Airport, LAX airport… We wanna stay, as I said, within a mile to two-mile radius. We know that these are key opportunities for distribution, and distribution now is becoming quite a big topic with what Amazon has done recently to the marketplace. We’ve been probably doing that for almost 15 years consistently, and that actually has been one of the best returns we’ve seen; industrial real estate has become a very hot topic, whereas 15 years ago there were very few really dedicated to that market space.
So that’s what I’m referring to. If it’s in industrial, we’re very specific on the criteria we’re gonna acquire. We have a base of who we’re probably gonna be looking for for tenants. We’re doing build to suits, if you will, along the way… And that’s how we evaluate the real estate; if it’s gonna be an office building, again, whether it’s in South Beach Miami, in a marketplace right now where we’re looking at some opportunities, there has to be for us to evaluate an end game [unintelligible [00:12:08].19] for us in that marketplace. We’re not just going in blindly, and I think that’s where we really capitalize, again, on the information that we’re ascertaining on these deals. Because when you’re not in a city itself, you’ve gotta rely on foot soldiers’ information. So this is critical to us.
Joe Fairless: Let’s talk about a recent transaction… Just real quick, what’s a recent transaction, and then I’ve got a couple questions; I just wanna learn more about it.
Alexander Radosevic: Sure. Recently, we’re looking at – to be honest with you – land acquisition, that we’re gonna go into for the development of a boutique-style hotel. That’s hotness marketplace, as you know; I know you’ve had some of your speakers speak about this… The small boutique hotel is a very hot market. We’re looking now for something on the coast here in California. California has a lot of restrictions, [unintelligible [00:13:03].03] but we’ve found a land, we do have entitlements in place, and it was a process that was started by the previous owner some nine years ago…
Joe Fairless: Wow…
Alexander Radosevic: And it will take us about another four more years of entitlement work to get what we need out of it. To give you an idea, that’s a very, very marketplace-specific opportunity. And once it is entitled, of course, like anything else, it will give us a tremendous amount of opportunity and profitability, that’s for sure.
Joe Fairless: I was gonna ask some questions, but you took it in a direction that’s much more interesting than what I was thinking, so let’s talk about it… Nine years that they started on it, and then four additional years; what is transpiring over the four years?
Alexander Radosevic: Sure. Coastline development, which is similar to (let’s say) inner-city development, if it’s got too many apartment buildings, there’s more restrictions placed on it. But coastline here in California in particular is difficult. So the nine-year process was converting what was originally a residential/commercial use into what will be a hotel use. So the zoning process itself, with the prior ownership, and the city, combined with the Coastal Commission, all have to come to an agreement on the conversion from its initial approved use into a hotel base use.
So you’ve got three different governmental agencies working at the same time, and not all of them want the same result. Then you have to have some legal power come in, you have to have some meetings with city officials… There’s just so many things that take place that many people give up.
Joe Fairless: Oh, yeah.
Alexander Radosevic: This family persevered, but they owned quite a bit of real estate, knew or were properly advised by a third-party that said “This is gonna be your highest and best use”, but the issue was they couldn’t take it to the end because they lacked what the city really wanted, which was where we come in – hotel-experienced operator/developer that could show the finish line to them. And that’s where some people get stuck and repurposing a property. You have the great idea and you have the right intention, but you don’t have the expertise. Without the expertise sometimes you just have to sell it and allow someone else with more expertise to take over.
So we’re looking at that opportunity now, and we’re gonna get the feedback we believe that we should get, which is an approval. The issues now we’re battling with is how many keys are we gonna get out of the property. We would like to get 131 keys, but we may only get 101. Well, if you only get 101 keys versus 131, you’ve lost almost 25%, right? So now the dollars and cents become more critical. The construction costs may come down, but then your cashflow NOI on the back-end are also coming down. These are really critical issues when you’re developing any sort of project roundup that’s relying on cashflow, not the single-tenant use.
So this is part of what any development — this is gonna be the same with an industrial building. If you only get a 500,000-foot structure down to 300,000 feet, it’s the same sort of an issue. But in this particular matter we’re fighting to get as many keys as we can, obliging the city with communal parking for the [unintelligible [00:16:29].09] providing some retail opportunity, a quality restaurant, and all those factors come into painting this beautiful picture, so that someone sitting behind an office the day that it goes to a Council meeting can now look at this visually and say “Okay, I get it. Let’s go with 131 rooms” or “Let’s split the difference at 117, but you’ve gotta give us an extra 100-car parking on the weekends for the beach, and we would like two restaurants instead of one”, and some other criteria. So it’s a give and take, and it’s a process, but it’s one that — in this particular case I can’t share with you the exact location, but it’s gonna be very well received and a very well-used hotel.
Joe Fairless: So you’re estimating four years from now that process will be completed…
Alexander Radosevic: Yeah, yeah.
Joe Fairless: What about the project makes it worth four years of your life to focus on?
Alexander Radosevic: In that particular market space it would be the only class A opportunity there. So number one, the destination is very well known, however there just has not been a new development there in over 20 years. To give you an idea – number one, we’ve capitalized on the most important part… Quality AA, plus location, the most newest development, highly-trafficked, perfect opportunity for us to capitalize on what will be a new destination. High dollar rent per door, and in a marketplace that, as I said, is very desirable. It’s a very well-known area. If I said it, you’d be like “Oh my god, I can’t believe this is gonna be the first one in 20 years”, but that’s the way it is; it’s been that way. So that’s the answer for that.
Now, why is it worth the four years? Well, the back-end value of it – it’s construction costs after we’re done and into this project, and depending on what flag we decide to put there, it will be more than 4x return on your money after it’s all said and done. So you’re looking for that sort of opportunity. It doesn’t come that often, so you have to be patient; it’s just part of real estate, you have to be patient at times… And this is one of those you’re gonna have to jump through not one hoop, not two hoops, but probably like 50 more hoops. It’s gonna be that sort of process.
Joe Fairless: If you were the original owner, so nine years ago you owned that land, and for whatever reason it also would have taken you 13 years from the start to finish to get it done, would you have chosen to do this, versus just — you said it was zoned for residential, so I assume you could do some sort of multifamily use there…?
Alexander Radosevic: Yes… No. Because multifamily — well, actually let’s take that back. The answer is I would have chosen it, knowing what I know now. But nine years ago you don’t know. So if you take a risk like when I bought that 1994 property – they took a risk and carried that torch a long way, but only lacked one component: they don’t have the expertise in this marketplace to develop this property. They had to have a third-party come in or flip it. So had they had the experience, then they would have taken this all the way to the end and really benefitted. They took it as far as they could.
One lesson I learned from one of my original clients was I bought some land — I bought land a lot, and I had asked one of my clients to help me build it. He was a builder. He was actually an industrial real estate builder and a mentor of mine, and one of the guys I first started managing with. I bought some land down in San Diego, and I said “Look, I got this from a guy, he went belly up, out of New York, doing a subdivision funding up in San Diego. And it was about 32 acres. We can get 16 homes out of it. Each parcel had to be a minimum of two acres, and I was gonna put a park in the middle of it, and it would be a communal park for families.
Joe Fairless: It sounds like a nice place.
Alexander Radosevic: So I laid it all out and I called my client up and I said “Would you help me with this?” His answer was “Alex, you’re a great guy…” I was maybe 29 at the time. Not even 30 yet. And he says “…but here’s what I’m gonna tell you. If you can just get some utilities there and get some streets paved, let someone else carry that torch and build the houses. You did your part and make a profit.”
To give you an idea – I ended up buying all those pieces at about $70,000 for a two plus acre parcel was my total all-in cost in the end, and I sold them off for over $200,000 a piece without putting up a structure.
Joe Fairless: Beautiful.
Alexander Radosevic: Just assembling land and getting utilities, and basically doing a subdivision, getting things lined up and handing it to somebody else can also be a very profitable business in real estate. Real estate is great for that reason, because you can be a land guy, you can be a land parcel guy, you can be the guy who puts utilities in and flips it to the developer, you can be a finance guy… There’s so many [unintelligible [00:21:07].08] opportunities in real estate, and I’ve had the good fortune of touching a few, and really becoming an expert in some others.
The land thing happened through a client who said “I won’t help you, but here’s what I would do if I were you, and this is how I got started.”
Joe Fairless: With this transaction, the one with the boutique hotel, did you just outright purchase that land from them? Or is there a joint venture?
Alexander Radosevic: We will do a joint venture…
Joe Fairless: Okay, cool.
Alexander Radosevic: …and they will participate, as some do, not on a 50/50 basis, but we’re giving a sort of back-end deal, and then at the time of the sale, if we decide to sell out, there will also be a piece for them on the back-end.
Joe Fairless: Cool. So their contribution was the land, plus getting it to wherever point they had gotten it, and then you’re taking it–
Alexander Radosevic: Correct.
Joe Fairless: Got it. Okay. And if they had sold it to you outright, I was gonna ask you why they didn’t just do a joint venture, but never mind. Okay.
Alexander Radosevic: [unintelligible [00:22:02].07] he would love that. Any guy like me would love to have been able to acquire it all out, but you know what – they’re not fools either. They did have [unintelligible [00:22:09].18] They just didn’t have the expertise to take it to the next level… As I didn’t when I bought that land in San Diego. I knew the client, it was a client of mine. He says “Look, Alex, I don’t wanna build with you right now, my friend. I’m building other things. But here’s what I would do… Take it from there.” So they did what they could do, and I think they’re very happy. We came in strong, and — don’t get me wrong, this isn’t something that happens in a day. It took quite a bit of time to build a relationship. It’s not just coming in and knocking on someone’s door and saying “Hey, we’re the best deal in town.” It’s building a relationship with someone, the family, and creating some faith and trust, and having some sort of proven track record to do something.
Joe Fairless: Taking a giant step back, based on your experience, what’s your best real estate investing advice ever?
Alexander Radosevic: Best ever advice – if you can, try to hold the properties that you buy, allow them to appreciate, and leverage against them, as opposed to selling them and trying to trade up. We all need to sell and trade up to buy bigger and better things, but there comes a point in which if I just had held on a little bit longer to some investments, I could have easily leveraged out now two or threefold what I got out of it selling it. It’s just the way it is. And I have tried to buy in areas — because I understood how to underwrite property, so I’m always trying to buy in areas where I know that are strong, that are growing.
As a cheat sheet answer – and sorry to divert, but you’ll have the chance to do what you want with the information I’m providing – I would track the top five best places to live and work in in the United States when we’re looking and analyzing properties. So that’s one of the criteria I look for. I look at consensus information throughout the country, and tracking the top five places to live and work. What does that tell me right away? There’s expansion, there’s stability, there’s financing…
I’ve tried to invest that way not just in California, but throughout the United States, where I’d put my money and my clients’ money to work. In those marketplaces you know that push comes to shove, you can always get rid of a property. In all those marketplaces that we’ve held on to, refinancing out, cashing out, holding the asset is a better position to take.
Joe Fairless: What source do you use for best places to live and work? Or sources. Because there’s all sorts of stuff [unintelligible [00:24:28].16]
Alexander Radosevic: Yeah, unfortunately that’s changed a lot, too. You bring up a great point without really saying it… There’s too much information available for a lot of us, and knowing when information has value is what you’re kind of alluding to; which one of this many sources is there.
So there are government consensus in every state, that I’m more a fan of than just a third-party periodical published by a company saying “These are the spaces.” So I’m looking at cities, I’m looking at their information provided, because theirs is the most accurate in terms of income, revenue, traffic, tax bills, all that information. Now, there are companies now that are coming out, and I’ve had a chance to speak on some panels that are out there, but I won’t say one is favored to the other. I would have to say if you go online and you’re looking for that specific information – growth, tax bill, tax benefits, utility bill opportunities…
You must understand, if you’re building an industrial building, I’d rather build it in an industrial marketplace right now that the city is giving tax benefits for the next ten years for developers coming in that are building in this marketplace, and I know that’s gonna be attractive for the buyer coming in, and the manufacturer coming in, because they’re also getting tax benefits. So if I’m looking at an industrial building, I’m looking for those specific marketplaces, with those key information, if you understand what I’m saying.
So I’m picking the five best places to live and work, and then I’m saying “Okay, I wanna build an industrial park near an airport. Where am I getting the best tax benefits from?” That area is gonna be growing. This is gonna be a multi-tenant park, there’ll be a lot of small mom-and-pops wanting to develop in that area and service the community… So I’m looking at true city factual statistics; I’m not really going to third-party emailing sort of collaborated surveys done by third-parties. I’m actually going to those cities and getting as much information as I can from them directly.
Joe Fairless: And then your team has to aggregate that, and then make it apples to apples comparison, because I’m sure you’re getting it in all sorts of different formats from each of the different cities, right?
Alexander Radosevic: Right. And there are, as I said, without giving a lot of secrets out, there are ways to get that information a little bit easier… But you’re right. We will look at the information aggregated, and I’m looking for specific factors that are attractive to me in that marketplace. As I said, housing, if you’re doing an apartment structure, how many have to be in a community that’s really thriving? How many of those have to be units that are dedicated to housing for X, Y and Z? Is it 10% of those properties? Is it gonna have to be subsidized housing? Is it 18% of that property that has to be subsidized housing? That element to me right away is important, because that’s gonna change my cashflow out of that property by x%. Is it worth it for us? So we’re looking at certain criteria within that marketplace specific to our needs.
Joe Fairless: It makes sense. We’re gonna do a lightning round. Are you ready for the Best Ever Lightning Round?
Alexander Radosevic: I hope so. Let’s do it.
Joe Fairless: Alright, let’s do it. First, a quick word from our Best Ever partners.
Break: [00:27:39].25] to [00:28:18].18]
Joe Fairless: Best ever book you’ve recently read?
Alexander Radosevic: Wow… That’s a tough one. I’d have to say probably a book — Great by Choice, let’s go with that one. Jim Collins is a pretty well-respected author, and he’s got some good books out. I don’t know how many bestsellers — he’s got quite a few. The most recent one is why do some companies thrive, let’s say in uncertainty and in chaos, and others not? It’s a great read; it’s something that anybody in business can use.
Joe Fairless: What’s a mistake you’ve made on a transaction that we haven’t talked about?
Alexander Radosevic: Wow. A mistake… You know what – as always, lack of due diligence.
Joe Fairless: What about a best ever deal you’ve done?
Alexander Radosevic: I alluded to the first one, the bakery, but probably the best I ever did was buying that land in Laughlin, Nevada. It was my first, and it had an amazing return.
Joe Fairless: What did you buy it and what did you sell it for?
Alexander Radosevic: I bought those parcels of land for $2,500, with $500 down. 2,5 acres on the Colorado River. I am embarrassed to say that we’re talking well over hundreds of percent return on my money.
Joe Fairless: [laughs] Embarrassed/you’d do it again.
Alexander Radosevic: Oh, my god… Let’s say 1,000% return on my money, right? Yes, of course. It’s just luck. Sometimes we need to be lucky in life, right? But I was reading a paper — and I’ll tell you why I read the paper; can I get a minute?
Joe Fairless: Yeah, of course.
Alexander Radosevic: I know it’s the lightning round, but I’ll just tell you – true story. At the time I was working at Lehman Brothers, and a couple guys had brand new Porsches. And I wanted a Porsche. I had heard a story that a woman sold her husband’s Porsche for $100, angry because she had cheated on him. And that’s why I started reading that Penny Saver. Because I really was — I was reading the Wall Street Journal, what you normally do as an investment banker; you’re in a different realm. But that story got me so convinced, so I started reading it all the time, and coincidentally I found this guy selling this land in the Penny Saver. I contacted him, and he goes “If you buy this, you’re gonna be rich, kid.” I was like 22 at the time, the guy was like 45 years old. He was an airline pilot, of all things, who was friends with the developer.
Joe Fairless: Oh, wow…
Alexander Radosevic: And he goes “Trust me, you’re gonna be lucky.”
Joe Fairless: [laughs]
Alexander Radosevic: So I bought as much as I could, with $500 each time, and that’s how it worked out.
Joe Fairless: Oh, good for you. Best ever way you like to give back to the community?
Alexander Radosevic: Okay, so I didn’t come from any family with money, to be honest with you. I alluded my dad was in construction… My mom and dad divorced when I was six months old, and my mom remarried a clothing guy; I worked after school every day as a kid, since I was eight years old, buttoning blouses, and sweeping the floor, and doing things like that with my stepdad. So I didn’t come from many money… And what I do or what I like to do is help young entrepreneurs that lack education or funding, if you will, that have the strive and desire to be successful – I like to help in that matter one-on-one, if I can. So I always focus on trying to help young people, or young men or women, whether they come to my office and they leave to go on to another career, or they come to my office and start their own construction company… Whatever it is that I can do. But I like the idea of working with someone one-on-one and helping them grow.
Joe Fairless: How can the Best Ever listeners learn more about your company?
Alexander Radosevic: The company is Canon Properties. I’m at my office here. My website – you gave it – is canonproperties.com, and I’m happy to take any email. I try my best to respond, I’m at alex@canonproperties.com.
Joe Fairless: Alex, thank you so much for being on the show. I loved hearing about the boutique hotel land acquisition joint venture that you’re doing, and just talking us through the four-year process (knock on wood) that you’re about to undertake, you and your partners, as well as the previous nine years that your joint venture partner undertook with what they did.
Then also the deals that you did previously, and then talking a little industrial, too. We don’t talk enough about industrial on this show, so again, thank you so much for being on the show. I’m really grateful for our conversation. I hope you have a best ever day, and we’ll talk to you again soon.
Alexander Radosevic: Thank you so much for your time, and I really appreciate the opportunity to speak with you as well.
