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Bio
John L. Ziegenhein is President and Chief Executive Officer of The Chevy Chase Land Company, overseeing the company’s new development and two-million square feet of commercial and residential properties. John has over 20 years of experience in real estate development and management, most recently as Chief Operating Officer at McCaffery, Inc. He is a member of the International Council of Shopping Centers, Inc., Urban Land Institute, and National Multifamily Housing Council. John currently serves on the Land Company’s Executive Committee, and is active locally serving on the Board of the Arlington Food Assistance Center and Arlington Partnership for Affordable Housing.
Show Notes
- Role at Chevy Chase Land Company (00:06:55)
- John Ziegenhein describes his role as president and CEO, focusing on the company’s strategy and day-to-day activities.
- Upbringing and Parental Influences (00:08:15)
- John Ziegenhein talks about his ordinary upbringing in Baltimore, the influence of his working-class family, and the values instilled by his parents.
- Turning Point in High School (00:14:45)
- Ziegenhein reflects on a pivotal moment in high school that led to a change in his mindset and ambition for the future.
- College Experience (00:15:00)
- Ziegenhein discusses his decision to attend college, the influence of a teacher, and his experience at Randolph-Macon College.
- Career Aspirations Post-College (00:19:30)
- Ziegenhein shares his initial career aspirations in law and his first job in credit card collections.
- Transition to Real Estate Career (00:24:30)
- Ziegenhein explains how he transitioned to a real estate career, pivoting from a finance-related role to working at RER Resources.
- Real Estate Recovery and CMBS Market (00:25:00)
- Discusses the formation of Real Estate Recovery during the RTC days and the infancy of the CMBS market.
- Underwriting C-Plus Properties (00:25:45)
- Describes the underwriting process for rundown properties in various markets and property types.
- Meeting with Property Owner (00:28:00)
- Recounts a memorable meeting with a property owner and the insights gained from the experience.
- Transition to ASB Capital (00:30:50)
- Explains the transition to ASB Capital and the shift from debt to equity investments in union markets.
- Union Investing and Challenges (00:35:30)
- Details the challenges and dynamics of investing in union markets, including the pressure to support union jobs.
- Pursuing an MBA (00:39:20)
- Discusses the decision to pursue an MBA and its benefits in enhancing financial knowledge and broadening business perspectives.
- Transition to The Bear Companies (00:41:55)
- Describes the decision to join a startup and venture into a new market for real estate financing, involving trust preferred securities and collateralized debt obligations.
- The new instrument (00:42:45)
- Discussion about the creation and selling of a new financial instrument in the market, originating $2 billion of product.
- Investments and structures (00:44:00)
- Exploration of investments in residential real estate, mall REITs, private REITs, and complex structuring challenges.
- Market collapse (00:46:15)
- Description of the financial crisis, including the impact on investments, ratings, and the sudden shutdown of credit lines.
- Transition and exploration (00:47:30)
- The abrupt shutdown of operations and the exploration of new opportunities and relationships, including international investor discussions.
- Learning development at McCaffrey (00:48:30)
- John’s experience and learning process in real estate development at McCaffrey, including the value of sweat equity.
- Working with Dan McCaffrey (00:54:00)
- Discussion about the visionary and risk-taking approach of Dan McCaffrey in real estate development, as well as John’s role in finding and structuring opportunities.
- Joining Chevy Chase Land Company (00:59:30)
- John’s transition to a family business, understanding the family dynamics, and becoming a steward of family assets.
- Corporate structure and role at Chevy Chase Land (01:02:20)
- The process of joining Chevy Chase Land Company, including meetings with the board and the transition to the role of CEO.
- The role transition (01:04:00)
- Discussion of leadership transition, pandemic impact, and team integration.
- Getting to know the team (01:05:30)
- The importance of building relationships with the internal team and board members.
- Learning about the company (01:07:10)
- The interview process, knowledge about the company, and decision-making before joining.
- Company history and founder (01:09:40)
- Francis Newlands’ background, land acquisition, and early development of Chevy Chase.
- Company’s evolution (01:18:15)
- The transition from land selling to development, community focus, and future plans.
- Board structure (01:20:20)
- Evolution from family-oriented to independent governing board, stability, and guidance.
- Community development and diversity (01:22:30)
- Formation of municipalities, deed restrictions, and the company’s evolving views and philosophy.
- Newlands Legacy (01:23:45)
- Discussion of the Newlands legacy and its impact on the community, including deed restrictions and zoning regulations.
- Company’s Response (01:25:20)
- The company’s acknowledgment of the historical issues and its actions to address and remove the Newlands name from properties.
- Company’s Values (01:27:30)
- Emphasis on the company’s commitment to diversity, inclusion, and building welcoming communities.
- Legacy Assets (01:28:50)
- Discussion of legacy assets, their value to the company’s portfolio, and plans for diversification and growth.
- Bethesda Metro Renovation (01:30:10)
- Details of the ongoing major renovation of the Bethesda Metro property, including the transformation of the building and the addition of new amenities.
- Leasing and Portfolio Management (01:31:30)
- Discussion about leasing activities, portfolio management, and the company’s approach to harvesting investments.
- Asset Diversification (01:33:30)
- The strategic shift towards acquiring assets rather than developing, focusing on stable, cash-flowing properties.
- Future Investments (01:35:00)
- Plans to diversify investments, leverage capital markets, and explore opportunities for portfolio growth.
- Chevy Chase Lake Development (01:40:15)
- Pride in the transformation of the Chevy Chase Lake development, including the relationship with Bozzuto and plans for future phases.
- 8401 Connecticut Avenue (01:41:50)
- Shift of the property to a medical use, considerations for parking solutions, and potential retail concepts for the area.
- Crafting a Vision and Building Culture (01:43:50)
- Discussing the introduction of the Entrepreneurial Operating System (EOS) and its impact on the company’s culture and structure.
- Community Involvement and Giving Back (01:51:00)
- Exploring the company’s tradition of generosity, involvement with local charities, and initiatives to support the community.
- Sustainability and Environmental Impact (01:53:30)
- Examining the company’s sustainable practices, LEED certification efforts, and adjustments in energy usage due to the pandemic.
- ESG Policy and Governance (01:55:00)
- Detailing the company’s environmental, social, and governance (ESG) policies, community engagement, and governance structure.
- Mitigating Risks and Building Partnerships (01:56:45)
- Discussing the importance of strong partnerships, risk mitigation strategies, and the collaborative approach with various stakeholders.
- Life Priorities and Work-Life Balance (02:01:45)
- Exploring personal life priorities, family, self-care, and maintaining a balance between personal and professional life.
- Balancing priorities and time management (02:04:10)
- Discussion about the challenge of balancing involvement in the community and work responsibilities.
- Reflecting on career wins and losses (02:04:45)
- John Zeigenhein reflects on the biggest wins, losses, and surprising events in his career, emphasizing the importance of teamwork and passion.
- Importance of networking and learning from others (02:08:30)
- Advice given to the 25-year-old self about the value of networking, listening to others’ experiences, and gaining insights for personal and professional growth.
- Message of hope and letting go of trivial worries (02:10:55)
- John shares a message for a billboard, emphasizing the importance of letting go of trivial worries and having faith that everything will be alright.
