Learning moment for Founders/CEO's of real estate operating companies. Compelling milestone for Industrious. I remember the BOD meeting in 2017 when Jamie (founder/CEO) said we were testing management deals (think revenue share similar to hotel flags). Jamie/team were in growth mode and recognized two major constraints a. capital intensive business model b. longterm lease liabilities lead to high fixed charges during a recession. Initially the goal was 15%+ of future deals via mgmt deals and by the following year it was 80%+ of new deals. No one saw the COVID office recession coming... Jamie's conviction/leadership saved the business. @WeWork was grabbing all the headlines and raising billions at 80%+ higher investment metrics... Fast forward, Industrious is owned 40% by CBRE and continues to be in growth mode. Methodical growth in 65+ cities globally. Let's see how many more WeWork locations they take over. Key takeaways: 1. Validate unit economics, KPIs, and brand value propositions. 2. Embrace a capital-light model (when possible) through management deals, licensing, or franchising 3. Enhance ROE, strengthen balance sheets, and boost free cash flow with a strategic approach.
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Enclosed is LCP’s perspective on the evolution of “Era 2.0” of Location Based Entertainment. In the words of Bill Gurley “hone your craft constantly. Study the history, know the pioneers.” We’re studying those that came before us and are applying the attached framework to guide our investment principles, and allocation of time, resources & capital. Key players in this evolution include Topgolf, Home Run Dugout, Goodsurf, citywave® usa, Puttshack, F1® Arcade, Chicken N Pickle. #LocationBasedEntertainment #InvestmentPrinciples #Era2.0 #LCP
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Special thanks to the Colorado Real Estate Journal for featuring LOT 28's opening in their July issue. It was a team effort bringing this asset to life over the last 2+ years. Huge thank you to everyone who helped perfect this adaptive re-use development. Platform Ventures, Enterprise Bank & Trust, SullivanHayes, ARCO/Murray, Puttshack, Yardbird Group, Rivian, Lagniappe Capital Partners Joe Rzewnicki, MBA, PMP job well done in executing our vision!
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Brian McGuire reposted this
Goodsurf is a never-ending continuous surfable wave, powered by citywave®. It’s a chill beer garden. It’s delicious dining inside and out. It’s like nothing you’ve ever seen – or surfed – in Texas. www.goodsurf.co
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Brian McGuire reposted this
https://lnkd.in/gTzf4JZb The start of something big. More to come! Andrew Limbocker Joe Pomerenke Brian McGuire
Goodsurf Acquires Citywave North America
prnewswire.com
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Two words define the best entrepreneurs — “Relentlessly Resourceful.” – Paul Graham Relentless in pursuit of creating their product or service. Resourceful in navigating all the surprises, curveballs and even pandemics along the way. Last night’s Grand Opening party for Home Run Dugout was truly special. It was a celebration of Nick, Tyler and the entire HRD team’s relentless pursuit of building their dream over the last 7 years! It was especially inspiring to watch the HRD team enjoy this milestone with all their friends, family and strategic partners who helped them get here. Huge congrats to the entire team! Thrilled to be along for the ride. Home Run Dugout, Ryan Sanders Baseball, Inc., HFA, Ring on Hook, ARCO/Murray, BCS Capital Group, City Bank, Lagniappe Capital Partners #comeandhitit
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Thrilled to see Home Run Dugout's vision come to life! Huge congrats to Home Run Dugout, HFA, ARCO/Murray, Ring on Hook, BCS Capital Group, City Bank and Lagniappe Capital Partners
Our team really knocked it out of the park!⚾ In our blog, Nicole Poole, Hospitality + Entertainment Lead at HFA, discusses the importance of building trust with clients and letting their passion for the project become ours. We’re proud of the partnership we’ve cultivated with the team at Home Run Dugout and can’t wait to see their dream become a reality. Read all about it here ➡ https://lnkd.in/gerKVHy5
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