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Bio
P. David Bramble
Managing Partner, Co-founder
P. David (Dave) Bramble has been working in real estate investment for over 20 years. He dedicates his time to sourcing & capitalizing transactions and overseeing project underwriting and execution. As a corporate and real estate attorney by training, David brings a deep knowledge of all aspects of the real estate cycle. Prior to MCB, David served as the director of commercial lending for a regionally based full-service lending firm –Madison Funding – which he co- founded in 2000. Prior to devoting all his time to commercial real estate investment, David practiced law in the transactions group of Steptoe & Johnson LLP where he provided corporate and real estate advisory services. His practice focused on complex workouts, primarily in the real estate and financial products space.
David serves as the Chairman of the Board of Lendistry, a fintech enabled CDFI focused on providing small business capital to underserved communities nationwide. He serves on the investment committee and board of the Robert W. Deutsch Foundation which invests in innovative people, projects, and ideas that improve the quality of life in Baltimore and beyond. He also serves on the boards of Johns Hopkins Bayview Hospital, Ronald McDonald House, UPENN Institute for Urban Research, The Abel Foundation, and Baltimore Tree Trust.
David received his J.D. from the University of Pennsylvania, and A.B. from Princeton University.
Show Notes
- Dave Bramble’s role at MCB Real Estate (00:05:20)
- Dave shares his primary roles at MCB, including finding new transactions and raising capital.
- Dave Bramble’s family and influences (00:06:15)
- Dave discusses his upbringing in Baltimore and the entrepreneurial influences of his immigrant parents from the West Indies.
- Dave Bramble’s education and experiences at Princeton (00:08:30)
- Dave talks about his experiences at Princeton University and his major in politics with a minor in Russian studies.
- Practiced law with Steptoe (00:14:30)
- Business and corporate law
- Dave Bramble’s entry into real estate (00:15:30)
- Bramble explains how he initially had a negative view of real estate but eventually ventured into the business during his time in law school.
- Experience during the financial crisis (00:16:45)
- Dave Bramble recounts the challenges and opportunities he faced during the financial crisis, including the sale of his mortgage business and the start of his real estate company.
- Dave Bramble’s partnership with Peter Pinkard (00:21:15)
- Dave discusses how he and Peter Pinkard started their company in 2007, just before the global financial crisis.
- Geographical Strategy (00:23:30)
- Discussion on the geographical diversity of retail properties and the strategy behind investing in multiple markets.
- Asset Management Challenges (00:25:00)
- Challenges and strategies related to asset management, including the need for precision and sophisticated execution.
- Deal Sourcing (00:26:00)
- The importance of broker relationships and other key players in sourcing deals, particularly in the retail space.
- Evolution of Equity Sources (00:29:45)
- The evolution of equity sources from friends and family to institutional investors, including private equity firms and public REITs.
- Investment Strategy Complexity (00:33:15)
- The institutional mindset and the evolution of a complex mix of investment strategies and property types.
- Diversified Investment Platforms (00:34:30)
- Discussion on the company’s five big platforms: multifamily, retail, industrial, and healthcare, showcasing a broad mix of investment strategies.
- Project: The Rotunda (00:35:15)
- Acquisition and redevelopment of the Rotunda, a mixed-use project in Baltimore, Maryland, including its history and current redevelopment plans.
- Project: Currwood Industrial Logistics Park (00:38:20)
- Development and leasing of a large industrial logistics park in Hagerstown, Maryland, including the partnership with Invesco and the leasing process.
- Amazon’s Technology (00:42:00)
- Discussion about the cutting-edge technology used by Amazon and its impact.
- Yard 56 Redevelopment (00:42:15)
- The extensive process and challenges in redeveloping a former porcelain and enamel manufacturing facility near Johns Hopkins Bayview Hospital.
- Financing Yard 56 (00:44:15)
- The complex financing structure involving new markets tax credits, brownfields, enterprise zones, and opportunity zones for the Yard 56 project.
- Challenges in Redevelopment (00:46:00)
- The lengthy entitlement fight and the involvement of various stakeholders in the cleanup and redevelopment.
- Reservoir Square Redevelopment (00:48:00)
- The history and challenges in redeveloping a housing project known as “murder mall” into a mixed-use development.
- Baltimore’s Growth Potential (00:51:15)
- Discussion on Baltimore’s growth potential, real estate opportunities, and economic prospects.
- Downtown Core Project (00:54:45)
- The ambitious vision for redeveloping the downtown core project Harbor Place and the importance of the project for Baltimore’s downtown.
- Gensler’s Involvement (00:59:00)
- Reasons for choosing Gensler and the collaborative team assembled for the project’s master plan.
- Financing and Zoning (01:00:25)
- The current stage of zoning and planning, the need for voter approval, and the subsequent steps in the project’s development.
- The zoning amendment and city charter (01:01:00)
- Discussion about the need for zoning changes and the requirement for a city charter amendment.
- Excitement about the Sail Building (01:02:10)
- Excitement and details about the international design competition and the selected design for the Sail Building.
- Financial aspects of the project (01:03:00)
- Estimation of the project cost, including the breakdown of public space infrastructure and the need for funding.
- Funding and approval process (01:04:15)
- Discussion about the funding sources, including state and federal government involvement, and the approval process timeline.
- Baltimore’s potential and connectivity to DC (01:05:30)
- Comparison of Baltimore’s real estate opportunities with other cities and the potential impact of improved connectivity to Washington DC.
- Expansion and project management (01:08:50)
- Discussion about the expansion of projects into different areas and the reliance on a strong team for project management.
- Artemis Investment (01:10:00)
- Gina Baker Chambers is new President and she worked at Artemis
- Sustainability and ESG commitment (01:13:40)
- Commitment to sustainability and environmental, social, and governance (ESG) factors in the firm’s projects.
- Business focus and industry changes (01:16:00)
- Insights on the focus areas in the real estate industry, including the impact of changing trends and opportunities in different sectors.
- Life priorities and giving back (01:17:30)
- Discussion about the importance of family, work, and giving back, influenced by personal values and upbringing.
- Advice to the younger self (01:18:50)
- Encouragement to recognize and seize opportunities, emphasizing the value of hard work and readiness for potential opportunities.
- Preparation and Opportunity (01:20:00)
- Encouraging preparedness for unexpected opportunities and driving through them with dedication and hard work.
- Billboard Statement (01:21:00)
- Discussion about a statement to be posted on the Baltimore Beltway, emphasizing Baltimore’s growth and potential.
- Baltimore’s Opportunities (01:21:20)
- Encouraging investments and visits to Baltimore, highlighting the city’s potential and economic opportunities.
- Regional Economic Growth (01:22:30)
- Discussion on the shift in economic focus and the potential for growth in Baltimore and the surrounding region.
