Data Driven Development in Boston, Eric Doroski @ Zanzibar Capital

2024-05-28

Summary In this conversation, Joshua Kahr speaks with Eric Doroski, Managing Partner at Zanzibar Capital, about their focus on the Boston market and their investment and development pipeline. They discuss the challenges in the current market, including the lack of debt and equity, and the impact of interest rates. Eric shares insights into their current project, a 32-unit condo development, and the importance of understanding the retail condo market. They also discuss their data-driven approach and how they convey this to their...

Summary

In this conversation, Joshua Kahr speaks with Eric Doroski, Managing Partner at Zanzibar Capital, about their focus on the Boston market and their investment and development pipeline. They discuss the challenges in the current market, including the lack of debt and equity, and the impact of interest rates. Eric shares insights into their current project, a 32-unit condo development, and the importance of understanding the retail condo market. They also discuss their data-driven approach and how they convey this to their investors. Eric highlights the trend of affordable housing projects and their equity sources, including working with family offices.

Takeaways

Zanzibar Capital focuses on the Boston market, particularly in the greater Boston area, with a focus on multifamily and mixed-use properties.
They are currently working on a 32-unit condo development project in South Boston, which includes ground-floor retail and affordable units.
Eric Doroski emphasizes the importance of a data-driven approach and the ability to provide quantitative answers to investors' questions.
They discuss the challenges in the current market, including the disconnect between buyers and sellers, and the impact of interest rates. However, there are still opportunities for investment and development.

Chapters

00:00 Introduction and Background

01:02 Zanzibar Capital and Focus on Boston Market

03:18 Investment vs. Development Pipeline

04:27 Challenges in the Current Market

05:12 Current Project: 32-Unit Condo Development

07:14 Retail Condos and Specialized Investments

08:06 Focus on Core Competencies

09:08 Cashless Society and Amenities

09:54 EV Charging and Future-Proofing

11:56 Interest Rates and Future Opportunities

13:13 Data-Driven Approach and Investor Communication

15:22 Unique Value Proposition and Gut Feelings

19:49 Trends in the Market: Affordable Housing Projects

23:04 Equity Sources and Working with Family Offices

26:41 Interesting Market Trends and Opportunities

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