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Bio
Prior to his retirement at the end of 2021, Brad Olsen had been active in the area of international real estate investment for more than 40 years. During that time, he has represented investors, investment managers and developers from the U.S., Germany, The Netherlands, the U.K., Canada and Japan on transactions valued in excess of $10 billion.
In 1995, he established Atlantic Partners, Ltd., an independent advisory firm, and he served as President of the company until his retirement.
Before forming Atlantic Partners, Mr. Olsen was a principal of Richard Ellis, Inc., the US affiliate of a major international real estate advisory firm, and a shareholder of the international holding company. At Richard Ellis, he served as the director of the firm’s investment advisory group which advised domestic and international investors.
Mr. Olsen was a founder and principal of The Lexington Company, a Chicago‐based independent real estate investment advisory and consulting firm. His responsibilities included acquisitions and dispositions, asset management and property finance. Richard Ellis acquired the company in 1989.
From 1980 through 1983, Mr. Olsen served as senior vice president and regional manager of the Chicago office of Richard Ellis, Inc. He supervised real estate acquisitions, dispositions and management in the Midwest and was responsible for the firm’s business development efforts nationwide.
Before joining Richard Ellis, Mr. Olsen was a practicing real estate lawyer. He served as general counsel of a real estate development and construction company and was in private practice. His assignments involved various aspects of real estate development, financing and property management.
Mr. Olsen is a graduate of Princeton University and Harvard Law School. He was the author of numerous articles on international real estate investment and a frequent lecturer at leading universities and professional conferences, including Expo Real, the USA Conference in Frankfurt and the Global Property Market conference in Toronto. Mr. Olsen was a longtime member of the Association of Foreign Investors in Real Estate (“AFIRE”) and a member of the European Association for Investors in Non-Listed Real Estate Vehicles (“INREV”).
Show Notes
Quasi- Retirement
- Life Lessons from My Father (00:07:32)
- Brad discusses two life lessons from his father and their relevance to his current work and career: 1. Pebble making ripples and 2. Don’t burn bridges
- Retirement Announcement and Postponement (00:12:15)
- Brad explains the circumstances and reasons behind his retirement announcement and its subsequent postponement.
- Continued Involvement in Real Estate Advisory Work (00:14:10)
- Brad talks about his ongoing advisory work with two clients, Gordon Grubb and a German family office, in his retirement.
- Networking and Relationship Building (00:16:30)
- Brad emphasizes the importance of networking and building relationships in his career, including his current connections and advisory work.
- Client Relationships and Future Exits (00:18:15)
- Brad discusses the longevity and potential exit strategies for his relationships with his two clients and his approach to new client requests.
Origin Story and Education
- Childhood and Career Aspirations (00:22:10)
- Brad reflects on his unremarkable childhood in the 1950s in suburban Chicago and the influence of his family and early aspirations, including his decision to pursue law.
- Favorite Childhood Books (00:25:20)
- Brad shares his favorite childhood book series, “Chip Hilton” and a series of biographies, and his current reading habits in retirement.
- Growing Up (00:27:30)
- Brad discusses his childhood, involvement in scouting, and family connections, including his father’s work at Wrigley.
- Childhood Heroes and Attitude (00:31:00)
- Brad talks about his childhood hero, Ernie Banks, and his positive outlook on life.
- No Real Estate Connection (00:32:30)
- Brad shares that he had no family connections to real estate and discusses his high school experiences.
- Limited Travel and Exposure (00:33:45)
- Brad talks about his limited travel experiences and his exposure to international cultures through his father’s work at Wrigley.
- Princeton University Experience (00:39:00)
- Brad discusses his time at Princeton University, including the personal education and the impact of historical events.
- Transition to Harvard Law School (00:44:45)
- Brad shares his transition to Harvard Law School, including a year off and work experience at an oil company.
- Brad’s Experience at Harvard Law School (46:00)
- Brad shares his experience of feeling intimidated by the intelligence of his peers at Harvard Law School.
- Interaction with Mitt Romney and Chuck Schumer (48:40)
- Brad recalls interactions with Mitt Romney and Chuck Schumer during his time at Harvard Law School.
- Pressure and Challenges of Law School Exams (49:50)
- Brad shares the intense pressure and challenges he faced during law school exams, including a moment of uncertainty during an exam.
Legal Career- Law Firm and In House Counsel
- Decision to Pursue Law Profession (51:50)
- Brad discusses his decision to pursue a career in law and advises young people to only go to law school if they plan to practice law.
- Introduction to Real Estate Law (53:00)
- Brad recounts his introduction to real estate law and his growing interest in the field during his time at law school.
- Transition to Real Estate Development Company (56:30)
- Brad describes how he transitioned to becoming the general counsel of a real estate development, architectural, and construction company, J. Emil Anderson Company
- Involvement in Zoning and Planning (58:00)
- Brad explains his involvement in zoning and planning issues, drawing on his father’s experience in local government.
Transition to Real Estate Marketing and Acquisitions at Richard Ellis
- Mentorship and Education in Real Estate Investment (1:00:30)
- Brad reflects on the mentorship and education he received in real estate investment and development from his employer, J. Emil Anderson.
- Transition to Marketing Role at Richard Ellis (1:03:00)
- Brad discusses his transition to a marketing role at Richard Ellis and his responsibilities in representing the company to US institutions.
- Experience Traveling and Landing a Client (1:04:15)
- Brad shares his experiences traveling around the US and the success of landing a client, the Saint Paul Companies.
- The early 1980s real estate market (01:05:45)
- Brad discusses his role in real estate acquisitions and transactions in the Midwest, Washington DC and New York.
- Syndication market and the sale of 208 South LaSalle (01:07:20)
- Brad explains the impact of syndication and the sale of a building in Chicago.
- Richard Ellis Approach (1:12:30)
- Richard Ellis would only accept compensation from its clients on the “buy” side
- The accidental meeting with John Miles (01:17:25)
- Brad shares how an accidental encounter with John Miles (Reading University, UK) led to a long-lasting partnership and friendship.
Formation of Lexington Company
- Leaving Richard Ellis and starting the Lexington Company (01:20:20)
- Brad explains the events that led to his departure from Richard Ellis and the founding of the Lexington Company.
- Arthur Rubloff’s involvement in starting the Lexington Company (01:24:10)
- Brad discusses the crucial role played by Arthur Rubloff in providing startup capital for the Lexington Company.
- The Hilton VIP Card (01:27:00)
- Brad Olsen shares a story about receiving a Hilton VIP card from Barron Hilton and the benefits it provided. Ed Homer provided it.
- Work Background (01:27:55)
- John provides background on Ed Homer and his work at Homart Development Company.
- Founding of Lexington Company (01:28:30)
- Brad Olsen discusses how the name “Lexington” was chosen for the company and its growth from 1984 to 1989.
- Growth of Lexington Company (01:29:30)
- Brad Olsen describes the company’s expansion to 60 employees and the acquisition of major clients.
- Real Estate Transactions (01:31:00)
- Brad Olsen talks about the company’s involvement in real estate transactions with the Farr Jewett Company, including the Lafayette Center and 625 Indiana Avenue Northwest.
- Equity Investment (01:32:00)
- Brad Olsen discusses the need for equity investment and the role of Larry Nussdorf from Clark Enterprises.
- Cultural Experience in Business (01:34:00)
- Brad Olsen shares experiences of cultural differences and business dealings, including a story about dining at a Japanese restaurant.
- Acquisition of Downtown Office Building (01:38:30)
- Brad Olsen discusses the acquisition of a downtown office building in Chicago by a Dutch investor and his involvement as an asset manager.
- Relationships with Dutch Investors (01:40:50)
- Brad Olsen explains how he built relationships with Dutch investors, leading to representing various Dutch pension funds in the US market.
- Pension Fund Investments (01:41:15)
- Brad Olsen discusses the growth of his business with Dutch clients and the interconnected nature of the Dutch business community.
- Real Estate Deals (01:46:15)
- Brad Olsen talks about the involvement of Dutch investors in real estate deals, including the joint venture in Market Square with Trammell Crow.
- Recent Property Transaction (01:47:00)
- John mentions a recent property transaction involving Market Square, leading to further discussion about the property’s history and current ownership.
- The 500 Boylston Street Deal (01:47:45)
- Brad discusses the negotiation and success of the 500 Boylston Street deal in Boston.
- Decision on Phase Two (01:48:30)
- Brad explains the decision-making process regarding whether to participate in Phase Two of the deal.
- Meeting with Joop Hiddink (01:50:00)
- Brad recounts a meeting with Joop Hiddink regarding a bad decision and the responsibility taken for it.
- Impact of the Tax Treaty (01:51:30)
- Brad discusses the significant impact of the tax treaty between the Netherlands and the US on Dutch investment in US real estate.
- Dutch Investment Strategy Changes (01:53:30)
- Brad explains how the tax treaty and roll-up limited partnerships changed the strategy of Dutch investment in US real estate.
- Ripple Effects of Assignments (01:54:30)
- Brad reflects on the ripple effects of his assignments and accidental involvement in various business relationships.
- Introduction to GVA Network (01:56:30)
- Brad talks about how a chance assignment led to introductions to key figures in the GVA network including Rand Diamond, Steve Collins, Dave Fitzgerald and Blair Booth
- Attempted Property Purchase (01:59:00)
- Brad’s attempt to purchase the White Oak shopping center and interaction with Phil Caraci of B.F. Saul Company..
- Sale of Lexington Company (02:05:30)
- Brad discusses the sale of the Lexington company to Richard Ellis International and the subsequent growth of the business.
- Impact of the 1992-1994 Crash (02:06:20)
- Brad reflects on the significant impact of the crash on the real estate industry and the subsequent loss of mid-level executives.
- Comparison to Transcontinental Railroad (02:08:40)
- Brad discusses the commentary comparing the excess office space to the building of the transcontinental railroad.
- The grave dancer reputation (02:09:30)
- Brad discusses the impact of the 1990-1994 crash on his real estate portfolio and the loss of investments.
- Financial setbacks and job cuts (02:10:00)
- Brad explains the financial impact of stock value decline and the necessity of letting go of employees.
- Struggles and personal challenges (02:11:06)
- Brad discusses the difficulties faced during a challenging period, including the departure of business partners and friends.
Transition
- Transition to a new phase (02:12:15)
- Brad describes the decision to take a sabbatical leave from Richard Ellis and the subsequent lifestyle changes.
- Relocation and lifestyle change (02:15:50)
- Brad and his wife move to North Carolina, sell their condo, and start a new chapter in their lives.
- Choosing Raleigh, NC (02:16:30)
- Brad explains the decision to settle in Raleigh, including factors such as family ties and lifestyle preferences.
- Starting Atlantic Partners (02:21:00)
- Brad details the creation of Atlantic Partners Limited and the decision-making process behind the company’s name.
Testimonials
- Esko Korhonen, Founder and CEO, FCP
- ” I have known Brad for many years. He is brilliant at connecting people, connecting the dots between people and always bringing a personal touch to his relationships. While we are ostensibly in the “deal business”, it is those personal ties that cement long term relationships and leads to fruitful business relationships. It helps that he has a quick wit and is fun to be with. Although he presents a rather buttoned up exterior, he has an interior wild streak. I recall when I first met Brad, we went to a baseball game (he in his bespoke suit), unexpectedly he turned into a wild and very vocal fan. That was an eye opener for me. Brad has been a friend and mentor over the years. I wish him the best.”
- Lilli Dunn, CEO, Bell Partners
- “It’s tough to just pick out one story about Brad and briefly summarize the impact he has had on so many people. In short, Brad has been my lifelong personal and professional mentor. Brad hired me out of University of MI in 1990, just before the market went into a big downturn. At the time, Brad was one of the partners at Richard Ellis and unfortunately, he needed to shut down most of the offices across the U.S. It was an extraordinary difficult time for us all. However, unlike most leaders, Brad went to incredible lengths to make introductions, provide career advice, and lend support. Now almost 35 years later, Brad is still a very close friend and continues to be a great advisor and mentor to me. He develops deep personal relationships and enjoys connecting people without asking anything in return. Simply put, Brad is an exceptional human being – a true inspiration to all those who are fortunate to be around him. I am grateful to have him in my life and will always be appreciate his kindness and guidance.“
