Jan 21 2024 91 mins
Bio
Louis Dubin, Managing Partner, Redbrick LMD, merged his firm, LMD Worldwide, with Redbrick in 2013. Over his career, Louis has invested over $2 billion of equity in U.S.-based real estate assets, and over $1 billion internationally, with a gross value of approximately $4-5 billion. He has completed over 30 real estate developments and investments, including land development, resort, residential for sale and rental, office, self-storage, and master planned communities.
Louis completed his undergraduate work at Washington & Lee University, and his law degree at The Washington College of Law, American University. He was appointed Chair of the NY State Common Retirement Fund Real Estate Committee in 2023 after serving on the Committee for 20 years. Louis also served as Chair of the Governor’s Workforce Board of the state of Maryland for 5 years and as a board member of the Patton Veteran’s Project for over 5 years.
Show Notes
- Role at Redbrick and LMD (00:05:15)
- Louis Dubin discusses his role at Redbrick LMD and the growth of the company since 2013.
- Equity Capital Formation and Development Strategy (00:06:00)
- Louis explains his role in overseeing equity capital formation and development strategy at Redbrick LMD.
- Family History in Real Estate Development (00:08:30)
- Louis shares his family's history in real estate development dating back to the late 1800s in Baltimore.
- Influence of Father and Grandfather (00:10:00)
- Louis discusses the influence of his father and grandfather on his career and work ethic.
- Education and Early Career (00:14:30)
- Louis talks about his education, including attending law school, and his early career in real estate development.
- Learning at Washington and Lee University (00:17:45)
- Louis reflects on his time at Washington and Lee University and the values he learned there.
- Studying Law and Chinese Economic Contract Law (00:18:50)
- Louis discusses his decision to study law and his interest in Chinese economic contract law during his time at law school.
- First Project and Financing Challenges (00:22:20)
- Louis shares his experience with his first real estate project and the challenges he faced in securing financing.
- Early Real Estate Deals (00:24:00)
- Louis talks about his early real estate deals and the challenges of securing financing in the late 1980s.
- Teaming up with Dad (00:25:30)
- Louis discusses teaming up with his dad, building projects, and the SNL crisis.
- Joining the Resolution Trust Corporation (00:26:10)
- Louis talks about joining the Resolution Trust Corporation and his role as a consultant.
- Starting Athena in New York (00:25:59)
- Louis discusses starting his own firm, Athena, in New York and his initial deals.
- Growing Athena's Business Strategy (00:29:10)
- Louis describes the growth of Athena's business strategy from 1994 to 2008. Partnered with JP Morgan on its early transactions. About 25 acquisitions.
- Starting Redbrick LMD (00:41:00)
- Louis shares his decision to start Redbrick LMD after parting ways with his previous partners.
- Identifying Opportunity in DC (00:43:45)
- Louis discusses identifying opportunities in DC, particularly in the southeast area and his decision to move back to DC.
- Acquiring UBS Land (00:46:30)
- Louis talks about the opportunity and urgency in acquiring UBS-owned land in Washington, D.C.
- Land acquisition and development (00:48:32)
- Discussion on the process of acquiring land and developing it, emphasizing the use of equity and low leverage.
- Opportunity zone legislation (00:49:15)
- Explaining the impact of opportunity zone legislation on the development of low-income areas and the influx of capital into projects.
- Saint Elizabeth's East project (00:50:00)
- Details about the successful development of the Saint Elizabeth's project, including workforce housing and adaptive reuse of hospital buildings.
- Community impact and affordable housing (00:51:30)
- Proudly discussing the impact of projects on community healthcare, workforce housing, and homeownership initiatives.
- Sustainability and net zero projects (00:57:30)
- Explanation of the focus on net zero sustainability in current projects, including the construction of the largest net zero apartment building in the Bridge District project.
- Future projects and initiatives (01:04:15)
- Revealing plans for future projects, including the acquisition of 15 acres at the Navy Yard for rental apartments, hospitality, and food and beverage establishments.
- Opportunity zone financing (01:06:10)
- In-depth discussion on the utilization and engineering of opportunity zone financing, highlighting the tax advantages and the involvement in opportunity zone funds.
- Wealth Management Sources (01:09:15)
- Discussion about raising capital and the unique platform for development.
- Building a Team (01:10:50)
- Recruitment of top development professionals and engineers, and the strategy for assembling the team.
- Long-term Strategy (01:13:30)
- Discussion about holding real estate long-term, exit strategies, and future-proofing the investments.
- Community Impact (01:16:15)
- Emphasis on the positive societal impact, local contractor engagement, and community involvement.
- Diversity and Inclusion (01:19:45)
- Hiring practices, diversity in the workplace, and internship programs for women and minorities.
- Recruitment and Company Culture (01:21:30)
- Focus on critical thinking, unconventional approaches, and the company's unique culture.
- Investment Focus (01:23:30)
- Shift towards data centers, technology, and resilience in the real estate industry.
- Life Priorities (01:27:20)
- Family and community as top priorities, work-life balance, and community involvement.
- Life Experiences (01:29:30)
- Reflection on past experiences, struggles, and the value of diverse life experiences.
- Building a New Place (01:30:50)
- Louis Dubin discusses the excitement of building a new part of town in his backyard.
- Billboard Statement (01:31:00)
- Louis Dubin is asked what statement he would post on a billboard on the capital beltway. He says: "Go For It"