The FORT Podcast: Chuck Anderson – Co-Founder @ Bandera Ventures
Charles Anderson founded Bandera Ventures with Pryor Blackwell and Thomas Leiser in May 2003. The Partners have over 140 years’ of experience in commercial real estate development, encompassing more than 62 million square feet of development and acquisitions throughout the United States and Canada. Bandera’s real estate development expertise includes office, industrial, retail, medical, data centers, and build-to-suit projects.
We discuss:
- How Trammell Crow was able to produce so many successful RE operators
- Building Bandera Ventures
- Why DFW is the best real estate market in America
Listen on:
Spotify
Apple Podcasts
YouTube
Topics
(00:00:00) – Intro
(00:03:06) – Chuck’s background
(00:07:39) – Experiences working at Trammell Crow
(00:10:39) – Thoughts on the current market
(00:15:20) – How Trammell Crow was able to have so many All-stars under one roof
(00:17:58) – Chuck’s role at Trammell Crow
(00:19:57) – Ideating Bandera
(00:22:35) – Battling cancer & the power of Bible study
(00:32:32) – Advice for young folks
(00:34:58) – Inside Bandera
(00:40:50) – Data centers
(00:47:08) – Bandera’s org structure
(00:50:13) – Recourse Debt
(00:52:54) – What would it take for you to do an office deal?
(00:53:59) – TI
(00:57:22) – Super luxury markets
(01:00:27) – Capitalizing deals
(01:05:42) – Development
(01:07:08) – Why DFW is the best market in the country
(01:15:43) – Permitting and Zoning
(01:18:50) – Market predictions
Episode Summary:
Born and raised in a small town in Nebraska, Anderson’s journey to becoming a real estate mogul began with his collegiate basketball career, which took him from Nebraska to SMU in Dallas, Texas.
Anderson’s first professional foray was with City Corp in the Investment Banking Group, but it wasn’t long before the allure of commercial real estate captured his interest, leading him to roles at Criswell Development Company and ultimately Trammell Crow. At Trammell Crow, Anderson honed his skills and solidified his reputation in the industry. He recounts the culture of trust and autonomy at Trammell Crow, emphasizing how it fostered an environment where young professionals could thrive and navigate through the tumultuous 1980s real estate market.
The discussion shifts to Anderson’s transition to Bandera Ventures, where he sought to apply his extensive experience in a more hands-on capacity. He reflects on the significance of partnership and trust, principles that have guided Bandera Ventures to success. Anderson candidly discusses his investment philosophy, underscoring the avoidance of recourse debt as a strategic move to mitigate risk and ensure the sustainability of investments.
Anderson’s insights extend beyond business strategies to include personal growth and development. He shares a moving account of his battle with cancer, a turning point that reshaped his outlook on life and work. This experience deepened his commitment to mentorship, highlighting the impact of personal challenges on professional paths.
The conversation covers market trends, particularly the effects of COVID-19 on office spaces and the burgeoning industrial real estate market. Anderson observes the pandemic-induced acceleration of certain trends, such as the rise of industrial spaces and data centers, and offers his perspective on the future of office real estate. He notes the resilience and adaptability required to navigate the current landscape, advocating for ethical practices and the importance of building a positive legacy through business and personal actions.
In closing, Anderson offers sage advice: embrace ethical practices, remain open to continuous learning, and adapt to market changes. He emphasizes the value of relationships and due diligence in decision-making, advocating for a cautious approach to financial leveraging to avoid the pitfalls of recourse debt.
The FORT is produced by Johnny Podcasts