Investment Matters: Taking the Long View

Andrew Joblon, Founder & Managing Principal, Turnbridge Equities. Image courtesy of Turnbridge Equities

Andrew Joblon, founder & managing partner of Turnbridge Equities, makes it a goal to look ahead of the competition. Among his company’s signature development projects is New York City’s largest current logistics developments, which features a multilevel design that is still uncommon in the sector.

In this podcast episode, he comments on a key market whose potential he compares to that demonstrated by Austin a decade ago. Joblon offers insights into the competitive value of building during a slowdown with the next cycle’s demand in view.

Since starting Turnbridge in 2014, Joblon has pursued a strategy that is eclectic by asset category and varied by location. Geographically, the company’s investments focus on carefully selected markets that range from coast to coast. In this conversation, Joblon discusses the value of combining an opportunistic outlook with cautious execution.

Joblon suggests that his perspective was influenced by an early job in structured finance. That experience, he says, “(helps) you understand everything from a risk perspective.” However, this month’s guest is himself no stranger to taking calculated risks; he calls leaving a secure position to start his own company both “an incredibly scary moment” and “probably the best decision I ever made.”

Episode highlights:

• Turning point: launching Turnbridge (1:16)
• Finding opportunity while proceeding with caution (3:59)
• Taking the long view in supply-constrained markets (6:16)
• Perspectives on the office sector (8:10)
• Why industrial is really two asset classes (10:55)
• Lasting lessons from an early job (14:12)
• Giving credit to mentors (16:20)
• Inside a massive NYC logistics project with an unusual twist (17:42)
• An East Coast market with Austin-caliber potential (23:01)
• Off the clock: playing the world’s fastest-growing sport (27:02)

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