Eastdil Secured CEO on Collaborative Firm Culture
Roy March, CEO of real estate investment bank Eastdil Secured, described his firm’s “strong partnership culture” on a recent podcast. He noted that compensation is based on salary and bonus, not individual profit centers, to foster collaboration over internal competition. March also emphasized the importance of empathy and crisis navigation skills, drawing inspiration from military leadership.
- In the third quarter of 2025, Chicago's multifamily market saw a 43% annual jump in trailing 12-month sales volume to $4.6 billion, with an average cap rate of 6.7%. Neighborhoods such as Logan Square, Avondale, and Pilsen are considered emerging markets with moderate cap rates in the 5-7% range. - The Chicago apartment market is projected to experience a 3.9% rent increase by the end of 2024, with all submarkets expecting growth between 3.2% and 4.5%. The downtown area, in particular, is forecasted to see a 3.8% rent increase. - For those aspiring to work at a real estate investment firm, proficiency in financial modeling software like Excel and ARGUS, along with a strong understanding of valuation methods such as Discounted Cash Flow (DCF) and Capital Asset Pricing Model (CAPM), are highly sought-after hard skills. Soft skills like networking, adaptability, and effective communication are also crucial. - To build capital for real estate investing, common strategies include securing funds from private lenders, utilizing hard money loans for short-term projects, and refinancing existing properties to extract equity. It's also possible to partner with others in a joint venture to pool funds for a purchase. - A significant tax strategy for real estate investors is the 1031 exchange, which allows for the deferral of capital gains taxes by reinvesting the proceeds from a sale into a similar property. Additionally, investors can utilize depreciation to deduct a portion of a property's value from their taxable income over time. - Investment opportunities in Chicago are present in neighborhoods like Bronzeville, which is undergoing revitalization efforts and is near the future Obama Presidential Center, and Humboldt Park, which offers more affordable entry points compared to nearby Wicker Park. - The industrial real estate market in the Midwest is experiencing significant growth due to the expansion of e-commerce, leading to increased demand for warehouses and distribution centers and, consequently, higher rental rates and property values. - To stay current with market trends and investment opportunities, professionals in the Midwest real estate sector often follow publications such as *Connect CRE*, *Bisnow*, and *RE Journals* for news and analysis on the commercial real estate landscape.
