Tue, 5 January 2021
Joe Muratore is the co-CEO of Grace-ada Partners. Grace-ada is a commercial real estate investment firm that specializes in Large-Scale Value-Add Commercial Real Estate in California’s Central Valley. More specifically, Grace-ada focuses on Central Valley office buildings and shopping centers and currently has over $150 million in assets under ownership and $300 million under 3rd party management. Quotes: “It’s a negotiation, but our job is to start, like with any negotiation, with letting our tenants feel heard. We can’t force them into a box and if we do, it will backfire.” “Success favors the bold. There is a lot of value in just taking that next step. There is a great book called The Hard Thing About Hard Things and the core value there is if it were easy to get from A to B, that’s a commoditized thing and it’s going to pay very poorly. In this business, there is very rarely a clear path from A to B, but after a while, you develop 4 or 5 different bread crumbs that you’re able to spot, and you’re able to make a path from A to B that others can’t see.” Highlights: 4:04- Joe tells us about his background and how he found himself in real estate 14:50- Joe tells us if he thinks that COVID is the nail in the coffin for traditional retail and why 23:56- Joe shares how he approaches his tenant’s intentions to continue working and innovate through COVID 27:44- Joe explains what things look like from the lending side of things 35:39- Joe shares and direct impacts that correlate to his investors
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