Brad Olsen- “Ripples and Bridges” (Part 3) (#115)

Icons of DC Area Real Estate
Icons of DC Area Real Estate
Brad Olsen- "Ripples and Bridges" (Part 3) (#115)
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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

Associations and Trade Shows

  • Introduction of Brad Olsen (00:02:30)
    • John welcomes Brad Olsen, his mentor, for the final episode of their series.
  • Building a Network (00:04:39)
    • Brad shares insights on networking through associations, specifically AFIRE.
  • History of AFIRE (00:05:58)
    • Brad discusses the establishment of AFIRE and its significance for foreign investors.
  • Membership Qualifying Criteria (00:09:02)
    • Brad explains how individuals qualify for membership in AFIRE.
  • Advice for Young Professionals (00:10:11)
    • Brad advises young professionals to commit to an association for success.
  • MIPIM Conference Overview (00:11:27)
    • Brad describes MIPIM as a major European real estate conference.
  • Evolution of MIPIM (00:12:54)
    • Discussion on the growth and globalization of MIPIM over the years.
  • Impact of Global Investors (00:13:25)
    • Brad explains how global investors have influenced MIPIM’s international reach.
  • Changing Investment Landscape (00:14:27)
    • Discussion on the emergence of institutional investment in real estate.
  • MIPIM’s Reputation Shift (00:18:13)
    • Brad reflects on MIPIM’s evolving reputation as a party destination.
  • Comparison with Expo Real (00:19:19)
    • Brad compares MIPIM with Expo Real in terms of business focus.
  • Establishing a Presence at Expo Real (00:20:23)
    • Brad shares his experience of creating a stand at Expo Real.
  • Unique Dining Experience (00:21:23)
    • Description of hosting private dinners at Expo Real for networking.
  • The Importance of Branding (00:22:38)
    • Brad emphasizes the branding opportunities gained from Expo Real participation.
  • Innovative Dinner Concept (00:23:35)
    • Brad discusses his idea of hosting unique, non-marketing-focused dinners at events.
  • Introduction to the Dinner Concept (00:24:47)
    • Brad discusses the origins of his dinner events, starting with eight attendees at Expo in 2001.
  • Growth of the Dinner Events (00:25:35)
    • The evolution of the dinner events from small gatherings to large social occasions, culminating in 152 attendees by 2019.
  • Unique Dinner Dynamics (00:26:05)
    • No marketing was involved; invitations were based on friendship rather than status, fostering a relaxed atmosphere.
  • Seating Arrangement Philosophy (00:27:17)
    • Brad explains his meticulous seating arrangements aimed at promoting interesting conversations among guests.
  • Building Relationships Through Dinners (00:29:17)
    • The dinners created genuine relationships, leading to business opportunities without the pressure of marketing.
  • Introduction of Games at Dinners (00:30:30)
    • Brad shares the idea of incorporating games to enhance interaction and enjoyment during the dinner events.
  • Trivia Contest Tradition (00:31:27)
    • The introduction of a trivia contest at the Expo dinner, designed to foster teamwork and engagement among guests.
  • Thematic Trivia Contests (00:33:32)
    • Brad discusses the themes of trivia contests and how they engaged both American and non-American guests.
  • Sophie and the MIPIM Dinners (00:36:06)
    • Sophie Mason’s role as a key figure in the success of the MIPIM dinners, enhancing the overall experience.
  • Client Relationships and Dinner Success (00:38:22)
    • The importance of client relationships in the success of the dinners, emphasizing a collaborative approach.
  • Transactional vs. Relationship-Oriented Business (00:41:02)
    • Brad contrasts American transactional business models with European relationship-driven practices, highlighting his preference.
  • The Challenge of Guest Invitations (00:42:38)
    • Brad shares humorous anecdotes about guests trying to crash his dinners and the exclusivity of invitations.
  • Establishing Brand Through Dinners (00:46:55)
    • The dinners served as a branding opportunity for both Brad and his clients, fostering lasting industry relationships.
  • Toronto Real Estate Forum Introduction (00:47:32)
    • Brad briefly mentions the Toronto Real Estate Forum as a significant event for Canadian and global real estate professionals.
  • Global Property Conference Introduction (00:48:04)
    • Discussion on the formation of the Global Property Conference to cater to Canadian investors seeking opportunities outside Canada.
  • Canadian Investment Trends (00:49:36)
    • Overview of the rise of Canadian investments in U.S. and European real estate markets during the early 2000s.
  • Networking and Visibility (00:50:25)
    • Brad shares his experience in gaining visibility and building relationships through the Global Property Conference.
  • Toronto Dinner Addition (00:51:51)
    • Brad discusses adding a Toronto dinner to his networking calendar and its collaborative nature with Gordon Vollmer.
  • COVID Impact on Events (00:53:07)
    • Transition to virtual events during COVID, including the creation of Global Connect for international advisors.
  • Canadian Real Estate Investment Growth (00:54:23)
    • Discussion on the evolution of Canadian real estate investments, particularly in the U.S. market.
  • Canadian Developer Involvement (00:55:15)
    • Insights on Canadian developers’ active roles in U.S. markets, contrasting with institutional investors.
  • German Investment Conference (00:57:30)
    • Introduction of the German version of the Global Property Market Conference called FondsForum, focusing on German investments.
  • Collaboration with German Institutions (00:59:40)
    • Brad explains his collaboration with Oliver Stumpf to create a U.S. investment platform for German investors.
  • Building Personal Brand (01:02:58)
    • Brad reflects on developing his personal brand among German institutional investors through consistent participation.

Mentorship and the University of Wisconsin

  • Mentorship Discussion (01:07:51)
    • Conversation about the importance of mentorship, including Brad’s early experiences with the University of Wisconsin.
  • Global Real Estate Insights (01:10:20)
    • Brad discusses the flow of international capital in real estate markets to students.
  • Educational Initiatives in Real Estate (01:11:18)
    • Rod Matthews proposes teaching global real estate at the university level after Brad’s presentation.
  • Establishing International Programs (01:12:26)
  • Wisconsin becomes the first U.S. real estate program to teach international real estate.
  • Global Real Estate Conferences (01:13:25)
    • Brad helps organize student trips to major real estate conferences like MIPIM and Expo Real.
  • Networking Opportunities for Students (01:14:44)
    • Wisconsin students gain access to influential figures and experiences at international events.
  • Creating a Global Real Estate Master’s Degree (01:15:27)
  • New York Stock Exchange Conference (01:16:06)
    • Students participate in a global real estate conference hosted at the NYSE.
  • Recognizing Contributions to Education (01:17:28)
    • Brad receives an award for his long-term contributions to the university’s real estate program.
  • Mentorship Impact on Students (01:18:41)
    • Brad reflects on mentoring over a thousand real estate students throughout his career.
  • Networking Philosophy (01:19:38)
    • Brad emphasizes the importance of being a net giver in networking relationships.
  • Role of Women in Brad’s Career (01:23:33)
    • Brad shares a tribute to several women who played key roles in his career both among clients and conference representatives.

Relationships

  • Listening as a Key Skill (01:27:06)
    • Brad discusses the significance of listening in building and fostering relationships.
  • Commitment to Relationship Building (01:29:01)
    • He stresses the need for dedication and effort in maintaining professional relationships.
  • The Role of Candor in Relationships (01:30:18)
    • Brad highlights the importance of honesty and candor in sustaining long-lasting relationships.
  • Open-Mindedness and Learning (01:32:23)
    • Discussion on the importance of being open-minded and willing to learn from others.

Life Lessons

  • Life Lessons from Experience (01:34:02)
    • Brad shares major life lessons learned over his 50 years in law and business.
  • Advice for Young Real Estate Professionals (01:36:20)
    • Brad offers insights on where young professionals should focus in the real estate industry.
  • Evolving Definition of Investable Real Estate (01:37:08)
    • Exploration of how the definition of investable real estate has changed over the years.
  • Future Opportunities in Real Estate (01:39:16)
    • Brad discusses emerging opportunities in Africa and other global markets.
  • Importance of Global Awareness (01:40:29)
    • The significance of understanding global trends and perspectives in real estate.
  • Engagement in Professional Associations (01:41:57)
    • Brad emphasizes the value of participating in professional organizations for career development.
  • The Data Center Industry (01:42:29)
    • Discussion on the growth potential and challenges facing the data center industry.
  • Life Priorities: Family, Fun, and Giving Back (01:45:07)
    • Brad outlines his priorities in life, emphasizing family and contributions to society.
  • Advice to His 25-Year-Old Self (01:45:59)
    • Reflections on the importance of maintaining life priorities and integrity.
  • Billboard Message for the Future (01:47:46)
    • Brad shares a powerful message about being prepared for future changes.

Postscript

  • Introduction and Mentorship (01:54:21)
    • Discussion on Brad Olsen’s impact as a mentor and his influence on others’ careers with Colin Madden and Sam Glass
  • Podcast as a Touchstone (01:55:30)
    • The podcast series serves as a foundational resource for inspiration and guidance in real estate.
  • Brad’s Career Insights (01:57:06)
    • Exploration of Brad’s philosophy on creating positive impacts in business relationships.
  • Lessons from Challenges (01:58:28)
    • Reflections on overcoming obstacles and maintaining integrity in difficult business situations.
  • Brad’s Integrity and Business Decisions (02:01:30)
    • Discussion on the importance of moral decisions and integrity during challenging times.
  • Building a Simple Business Model (02:02:20)
    • Brad’s approach to simplifying business structures for better management and success.
  • Mentorship and Relationships (02:03:35)
    • The significance of mentorship and maintaining relationships even during tough times.
  • Capital Raising Intuition (02:05:08)
    • Brad’s strategic insights on capital raising and investment opportunities in real estate.
  • Networking and Client Relationships (02:06:18)
    • Brad’s unique approach to networking and developing meaningful client relationships.
  • Long-Term Business Perspective (02:09:36)
    • Discussion on the importance of strategic decision-making and maintaining focus in business.
  • Brad’s Legacy and Relationships (02:12:08)
    • Reflection on Brad’s career legacy and the lasting friendships formed in the industry.
  • Final Thoughts on Brad’s Career (02:14:05)
    • Discussion of the overall impact of Brad’s career and his unique approach to business.
  • Building Relationships in Real Estate (02:19:19)
    • Discussion on the importance of building relationships with trustworthy people in business.
  • Career Path and Mentorship (02:20:23)
    • Exploration of Brad’s non-traditional career choices and his relationship with his mentor.
  • Adventure and Integrity in Business (02:21:34)
    • Brad’s journey emphasizes adventure, integrity, and the willingness to challenge oneself.
  • Inspiration from a Long-Term Relationship (02:22:59)
    • John reflects on the inspiration and humility he feels from his long friendship with Brad.
  • Ethical Business Practices (02:24:16)
    • Brad’s approach to business emphasizes fairness, ethics, and problem-solving without pretense.
  • Mentorship and Education Impact (02:25:14)
    • Discussion on Brad’s mentorship at the University of Wisconsin and its significance for students.

Testimonials

  • Oliver Strumpf (Funds Forum):
    • We got in touch when Brad promoted Principal Partners (Global Investors) (Des Moines) to enter the German real estate market in 2002. I worked at a fund management company. Since this time, we are having a great relationship. In 2012, I started to run the FundForum platform in Germany (www.FondsForum.de) that brings together real estate investment opportunities with institutional investors. In 2015, I had the idea to connect German institutional investors with real estate investment opportunities in the US. And who else can do this better than Brad. So, I called him and we met a couple of times and decided to start the USA Conference (www.USA-Conference.com) in 2017. And Brad took over the role as conference chairman, program organizer and manager of all the interested companies. And as you can image, it was perfect. Therefore, we called Brad, “Mister Transatlantic”, because he did so much for the transatlantic real estate investment connection. In 2021, he decided to retire and withdraw from the conference. Fortunately, we found a great successor that was able to continue the conference and, therefore, Brad’s commitment. On the one hand, we have been missing Brad very much. On the other hand, we are grateful that he built up this great transatlantic event format in Germany with us and wish him all the best, especially a lot of peace and quiet in his retirement.
  • Lee Gottschalk (University of Wisconsin)
    • “Brad has made so many positive contributions to the Graaskamp Center and the Wisconsin Real Estate Program.  He has been incredibly generous with sharing his time and expertise with our students.  Here are just a few activities he’s been involved in: 
      • In 2015, Brad received the Wisconsin School of Business “Shape the Future Award,”  — the highest honor for volunteer support of the WSB and the Wisconsin Real Estate Program. It was well-deserved and long overdue recognition for all his generous contributions to the Wisconsin Real Estate Program.
      • Brad forged a connection with the organizers of MIPIM in France so Wisconsin real estate students could be the first students group to be invited to attend the conference. Many groups of students attended MIPIM over the years and it was an amazing experience for them to receive an introduction to global real estate first-hand via Brad.  He had so many international connections and generously shared with our students during these trips.
      • Brad was a founding committee member for the Global Real Estate Markets Conference, which the Graaskamp Center hosted at the New York Stock Exchange for 10 years.  He had so many excellent ideas for conference themes, topics and issues for the agenda.  He  moderated and organized countless panels and they were always top-notch.  His panels always consisted of the top industry leaders who were genuinely happy to participate on Brad’s panels.
      • Brad visited Madison many times to meet with our students to share his wisdom and expertise about international business, real estate, networking, etc. at the Real Estate Club meetings and in the classroom.
      • Brad always made time to connect with our Global Real Estate Master’s program students.  The GREM students are from top international business schools around the globe and they come to Madison to get an immersive semester in real estate.  Brad is/was the perfect person to teach them about global real estate, forging job connections, communication skills, etc.  This is just the tip of the iceberg of all the many contributions Brad has made to the program.  He’s truly one of a kind and it’s because of people like him that our program is ranked #1 by US News and World Report.”

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