NNN Development, Programmatic Equity, and Yield on Cost w/ Andrew Dunn, VAC Development

This episode takes you inside the deal-making process of commercial real estate investor Andrew Dunn. Andrew is the managing partner at VAC Development, an asset-class agnostic real estate investment group focusing on yield and asset allocation. 

Andrew primarily runs the acquisitions, capitalization, and business plan execution for the firm.
 
In this episode, Andrew reveals his approach to scaling a real estate business through a programmatic model. He details how he sources deals that fit the criteria of large institutional investors and secures large equity checks through relationships. Andrew also provides insights into evaluating retail, office, and mixed-use deals through an analysis of yield on cost and development spread.
 
Timestamps:

00:00 Intro
01:09 Andrew’s Dunn background
04:20 Getting into commercial real estate
06:42 The importance of operator selection for hotel deals
09:56 Setting yourself apart from the competition
12:14 Chasing equity vs. chasing deals
16:30 The director of investor - requirements and commissions
18:57 Investor relations strategies for finding capital
23:51 The Starbucks lease strategy
32:19 The importance of lease in terms of cap rate
40:05 Yield of cost metrics and risk evaluation
49:33 The influence of demographics on property value
53:33 Retail vacancy rates and office space trends
56:00 Shift in consumer behavior towards outdoor malls
59:56 Sublease and healthy market
 
Interested in chatting with Andrew?

Connect with him on LinkedIn:
https://www.linkedin.com/in/andrewmdunn41/

X/Twitter:
https://twitter.com/andrewmdunn_

tiktok: 
andrewmdunn_

Or through his company site:
https://www.vacdevelopment.com/

--
Breneman Capital: https://www.breneman.com
 
Investor List: https://www.breneman.com/invest
 
Passive RE Investor Guidebook: https://www.breneman.com/downloads
 
Connect with Drew: https://linktr.ee/drewbreneman

What is Breneman Blueprint: Real Estate and Entrepreneurship Podcast?

Real estate is the most proven way to build wealth. But learning how to invest in real estate is not easy. You need a blueprint from other successful investors. That is what this podcast is all about.

In each episode, join Drew Breneman, a real estate investor who owns more than $200M in property, as he and his guests teach you what you actually need to know to be a successful investor. Whether you are a full-time active investor, a passive investor, close to retiring, just starting out, or simply looking for an alternative to the stock market, this podcast is for you.