The FORT Podcast: Chris Powers & Jason Baxter talk Fort’s 2021 Year in Review

On this episode, Jason Baxter and Chris Powers take a look at the last year for Fort and discuss how their team evolved and prepared for scale, Jason’s transition to CEO, company highlights, and thoughts on their strategy, and why 2021 was a record year for Fort.

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(03:09) – Reflecting on Previous Reviews

2018 Year in Review

2019 Year in Review

2020 Year in Review

(05:28) –  Transitioning Jason into CEO & Learning from Lex Sisney

(11:36) – Jason’s Growth in 2021

(15:53) – Leadership Communication and Structuring Executive Meetings

Good 2 Great by Jim Collins

(23:54) – Getting Deliberate With How Actions Impact Fort’s Flywheel

(30:01) – Fort’s Purchases in 2021 & Improving the Acquisition Process

(42:16) – 2022 Deal pipeline

(46:57) – Identifying the Need for a Director of Leasing

(51:51) – Aligning Incentives Across Departments

(56:05) – The Importance of Bringing Fresh Eyes to Look at the Business

(1:00:15) – COR’s Impact in 2021 

(1:14:03) – Thoughts on Growing Investor Pool

(1:18:07) – Growing the Property Management Side of the Business

(1:24:26) – Where We are Heading into 2022


Episode Summary

In a profound discussion with Chris Powers, Jason Baxter, known for his extensive experience and acumen in real estate, offered a wealth of insights, providing listeners with a comprehensive understanding of strategic real estate management and operational excellence. The conversation initiated with a detailed exploration into the strategic approach to real estate deals, emphasizing the long-term potential and alignment with investor returns. Baxter’s insights into asset performance, marked by an impressive occupancy rate of 91.6%, underscored the effectiveness of our strategic planning and decision-making, setting a positive tone for the insightful discussion that followed.

Navigating through the intricacies of asset performance, Baxter shed light on Fort’s significant revenue generation in 2021, amounting to $12.123 million, showcasing robust growth and profitability. The dialogue accentuated our successful leasing strategies, contributing to this financial upswing. Despite the increased deal velocity, operational expenses were meticulously managed, reflecting the financial prudence ingrained in our operational framework.

The conversation further delved into the operational strategies leading to portfolio outperformance. Despite the expansion in product and deal numbers, the team maintained high occupancy and met revenue goals for each asset, ensuring sustained financial health and growth. This operational excellence, as highlighted in the discussion, stands as a testament to our commitment and strategic approach to real estate management.

In the realm of financial management, Baxter’s dialogue underscored the importance of strategic planning in ensuring the success and profitability of our real estate ventures. The under-budget operational expenses and in-line revenue targets reinforced the financial stability and strategic management characterizing our real estate operations, providing listeners with a model for financial management in real estate.

The podcast further highlighted the team’s preparedness for the upcoming year, with more transactions lined up for closure, reflecting our strategic foresight and planning. This readiness, coupled with a focus on opportunities in Texas and other key markets, emphasized our commitment to continuous growth and success in the real estate sector.

Baxter and Powers’ discussion also illuminated the human element behind the company’s success, expressing gratitude for our exceptional team. The dialogue underscored the pivotal role of teamwork, synchronization, and continual improvement in propelling the company’s growth, offering listeners insights into the significance of human resources in real estate success.

Heading into the new year, the conversation emphasized the company’s strong positioning and momentum, bolstered by a robust and skilled team. This strong foundation, particularly in Texas, enhances our readiness to capitalize on upcoming opportunities in the real estate sector, providing listeners with a blueprint for strategic positioning and growth.

The podcast also underscored our gratitude for the support and collaboration of various stakeholders, reflecting an optimistic outlook grounded in achievements and support. The discussion illuminated the importance of partnerships and collaborations in navigating the real estate industry’s complexities, offering listeners valuable insights into the significance of networking and collaboration in real estate success.

The Fort is produced by Johnny Peterson & Straight Up Podcasts

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