Nadlan Expo 2023 - Gabriel & David Amiel - US Multi-family developers of projects in Florida & Texas

Welcome to our podcast about NADLAND Expo 2023. We're going to have more than 60 lectures from top experts in the real estate industry in the US. And today we have Gabriel Amiel.

Hello

Gabriel.

Hi, how are you?

I'm

great.

I'm great to have you here.

And

your

company is doing amazing. Tell us about yourself.

Yeah,

so Invest Capital Group, we are

a

real estate investment management company. And we are also doing development in multifamily. So I think you know what is multifamily. It's a complex of apartments that we build for rent. And it's approximately between 200 to 350 units.

So

as of today, we have assembled over 7 million square feet and which represent more than 2 billion of dollars.

Wow.

So we are doing that since 20 years here in the US. We are originally from France and we came here 20 years ago in the US.

And

we are doing this kind of business and we are focused

in

Texas and Florida. So we know very well these, those two markets. And we are doing that since 20 years.

Wow. That's

amazing.

Back from. Back from. In there with my friend.

Went

to see

the.

The

French. The French.

Really

liked

it. Just got back.

Just got back like.

I studied French.

I studied French

for high school.

I

know a bit. I

know a bit.

And it's really amazing.

It's

great to

have you here. It's great to have

you here. October 17th.

October

17th. Flying. Flying. Florida. To Israel. So why

don't you tell us. So why don't you tell us. About what.

You have here.

The main. I

can read it.

You

can read it. First of all the

title. The

title of.

You're a small.

Multifamily. With 20 plus.

20 plus

years.

Track

record.

Track

record. The family.

Project

in. Project in flow. As you mentioned. The

first. The first. The first.

Why

do you.

Not invest. So maybe. Maybe you can. Say one. One. Of what. You're going to. In the convention. Each one. Each one of those.

Is. I

cannot hear you. Very well. I don't. Your questions.

All right. All right.

Let me. Let

me. Can

you. Him

better. Yeah.

All right. All

right.

All

right.

So. Let's. Let's. Let's. Let's. Let's. Let's. First.

One.

First. One.

Yeah.

The first. Point. Is. Why. The US. Market. Is. Smart. Business. Investment. Choice. It's. That. Today. The US. Market. One. The only. Market. That. Can. Offer. Good. Returns. To the investors. Because. That is. The first thing. The. Other. Points. Is. That. The. US. Economy. Today. It's. Very. Strong. Either. We have.

High.

Interest. Rate. Regarding. The loans. But.

The

inflation. We went. From six. From nine. To six. Now. We are. Around. Three percent. So.

We

have. Good. Returns. The investments.

Nice.

Nice.

So.

So.

If you send. The. Benefits.

Especially. I

cannot

hear you.

What. The. Family. Florida.

And

Texas.

Yes. Florida.

And

Texas. Are. We started. Those two states. But. It was. A. Good. Good. Move. Because. Today. Florida. A lot. Of. People. New York. Boston. Since. COVID. They. Move. To Florida. To

Florida.

You have. A lot. Of. Companies. That. Their. Headquarter. In Florida. So. Florida. Is. Booming. In terms. of. Demographics. And. People. Looking. For. For. Apartments. To rent. Because. Due to the interest rates. That they are high. Today. People prefer. To rent. Instead. Of. Buying. And people. Who have. Today. Apartments. They don't sell. Because. They have. A loan. A very cheap loan. So. That is. Why. Today. The market. For rent. It's. Very interesting. In Florida. And it's. The same. In Texas. Because. A lot. Of. People. From. California. And. Also. A lot. Of. Companies. And. Are.

That's. Great. That's. Great. So.

We will. Go over it. In

detail. In. Venture. Now.

Third. Step. Step. Step. Step. Step. Step. Step.

Step. Step. Step. Step.

multi

-family to buy at a very good price and to create value so we have decided to buy the land and to make all the entitlement from the acquisition of the land so we we identify the sites so where we make a very thorough due diligence in order to see the demographics the location where it is at the job creation etc the type of population and then after when we are

we

have done our underwriting on the site then after we put it under contract and we go to due diligence when you start a due diligence so you start to spend money you hire architect engineers etc to in order to have the site plan approved and the permit and then to start the construction so we have all this process before to get the permit and then to go to construction to get the financing and to build and to deliver the so we have a full process that we have a team with a full process that we apply and that we develop from project to projects

this is an exciting approach because most most companies are looking for value and

properties and

changing the tenants doing minor renovation

but but

as you mentioned as you mentioned very very hard

to find these people that make sense your company

your company

i tried to find them round

up

round up great great exciting exciting

yeah

nice yeah

yeah

we uh we we do all we create all the value

from

uh we buy a land at a very good price and we make all the entitlement the construction we got the bidding and we have all the process to choose the general contractor and to uh then the financing and then the construction when it's finished so to lease it

and

to get to the rents and the returns that we give to the investors

yeah we definitely

yeah

we also we are building

single families and we see

we see that

a lot of the

time

we want to build these days to build

these days buy

off market

market the

mls you can

get better value and better

numbers so

so it's exciting exciting to see that so let's go let's go to the fourth

point insights

from experience developers on successful project

so so

i guess during the

the

expo you're going to tell us some um um

um insights that you

guys you guys from long term long term investors have

seen in the industry the

industry

avoid what things things should people do right right

yes

uh we have a track record so we have been during those 20 years a track record so where we have done a lot of project where we uh then after we have exit on some project so we sold them after when you have created all the value so then after what you can expect only the cpi the increase of the life to 2.5 so we know then after we sell it

and

we know what so we return the money to the investors

with

all the profit and then continue the investors they continue to invest with us on other projects and the to to develop that so it's clear that today the track record is important so our investors they trust us that is the most important is to trust

the

people that are doing that

and

we have uh that we we gave to our investors good returns

yeah

all

right

all right great

and the last point we're going to discuss about the latest

trend in in

uh real

estate

so

basically basically like uh

like uh

everything everything that yeah

so

we will explain all the strengths uh of the residential assets multifamily assets compare other class of assets like retail office building etc where today it's uh

one

of the strongest

assets

that the everybody it's easy to find financing because today the banks are willing to give loans to the multi-family and today if you are trying for office building or shopping centers etc it's very difficult to find financing so it's a type of asset that uh investors banks everybody is looking to invest in those kinds of assets

all

right

all

right so that's great that's great

so can you

please tell us what we

what

project you are what sorry i can

um um

on the

screen on the screen and share with your brochure with your project project

if you cannot if you cannot tell us a

bit about

them

oh

yes you saw on the top on the top

on the left

top so it's a project in daytona daytona beach in florida

that

we started two months ago

and

it's a project where we are doing 300 and uh around train more than 350 units uh so the project is uh

it's

around uh

yeah

it's around more than 100 million and uh we we started the construction after doing all the process that i explained to you

so

that is in daytona beach daytona beach it's a growing area because daytona is on the space six

and

space six it's where you have a lot of companies from california electric electronic companies that they produce to this area and we have a big demand of apartments and the fact also that today

you

have not a lot of developers that they can find financing

you

don't have a lot of projects coming because the developers that they are not known in the market and in the financing area so they have difficulties to finance their deal so when we will have our project

uh

ready so it's clear uh we we the market will grow when we have a lot of demand

so

the other project that you have on the screen is uh in orlando

so

this project we are starting this construction next month

is

352 apartments

we

have done the first phase this first phase is finalized and now we are starting the second phase and we bought this land it was in 2019 a very good price and uh so the investors are taking advantage of the land that we bought at a good price and we are developing these uh 352 units

the

other one on the on the left it's in san antonio

texas uh

in alamo where we are building uh 375 units we start the construction it was last august

and

uh in 10 months it will be ready the completely ready and the other one on the right it's in cape coral and we will start this project uh by the end of uh of the year beginning of next year

yeah that's amazing

amazing all right

all right so here

we have a bit of information about company

um

everyone read it read

it

online what you want to focus everything that you explained

the

process

process overview you're

going to

have you're going

to have

a

full lecture lecture abriel

abriel

this is

and you have a lot

of information either either in physical

event online

online

so

so

thank you very

much for joining us

and

we

will see

you on 2017 in

israel israel excited excited to see you

thank you

thank you thank you so much for joining

thank

you thank you bye

bye bye bye