Pathfinder Report – January 2016
The Secret of Life – Just One Thing
By Mitch Siegler, Senior Managing Director
Curly: “Do you know what the secret of life is?” [holds up one finger] “This.”
Mitch: “Your finger?”
Curly: “One thing. Just one thing. You stick to that and the rest don’t mean shit.”
Mitch: “But, what is the ‘one thing?’”
Curly: “That’s what you have to find out.”
2015’s Top 10 Songs Provide Key Economic and Investing Guidance for 2016
By Brent Rivard, Managing Director
Happy New Year! As a dad with three kids, 6-11, our family spends a lot of time listening to popular music (Radio Disney, Hits One on Sirius, etc.). But let’s face it, I can’t blame my love for pop music on my kids…I was more excited for the Taylor Swift concert this summer than anybody else in my family!
With the successful closing last month of Pathfinder Partners’ fifth opportunity fund, 2016 will be a strong year for acquisitions and I just knew that 2015’s 10 Biggest Songs, according to Instagram (http://usat.ly/1XH1udw), would provide some key guidance for the year ahead.
Pearls of Wisdom
By Matt Quinn and Briana Wright
Over the past decade, we have learned plenty from our operating partners, property managers and market experts about the intricacies of their cities and preferences of their residents. We’ve picked the brains of some of our business partners and summarized their views below.
Top-Performing Cities of 2015
The Milken Institute recently released its 2015 annual report identifying the nation’s top-performing cities based on factors like job creation, wage gains and tech growth. Overall, 2015’s macroeconomic story featured strong consumer spending, increased real estate development and an economic softening for cities whose economies are highly dependent on energy. We’ve included the list of the top 10 cities and highlighted some of the interesting results below:
Urban Adaptive Reuse in Gentrifying RiNo District of Downtown Denver
Urban adaptive reuse is a redevelopment process that involves converting an existing, typically older and economically obsolete building into a new, repurposed establishment while retaining some of the original structural elements and features. Investors are increasingly attracted to adaptive reuse opportunities because of a growing preference for urban live/work environments, an increase in incentives from City governments and an increase in demand by tenants for historic buildings with unique architectural elements. So, when Pathfinder learned of the opportunity to acquire 2800 Walnut St.– a 47,000 square foot building in Denver’s River North (“RiNo”) district (and the former home of the Gold Meat production facility) – we were very interested.
“You are never too old to set another goal or dream another dream.”
– C.S. Lewis, British Novelist
“We keep moving forward, opening new doors and doing new things, because we’re curious and curiosity keeps leading us down new paths.”
– Walt Disney
“I am the master of my fate and the captain of my destiny.”
– Nelson Mandela