Christian Gore On 5 Things You Need to Create a Highly Successful Career in the Commercial Real Estate Industry Today

The commercial real estate industry is a dynamic and challenging landscape that offers enormous potential for success. However, it requires a unique blend of skills, knowledge, and aptitude to truly excel. How does one establish themselves in such a competitive field? What does it take to consistently rise to the top in commercial real estate? How does one rise above the headwinds that are challenging the commercial real estate industry today? In this interview series, we are talking to commercial real estate professionals, brokers, investors, leaders of Real Estate Firms and Real Estate Investment Trusts (REITs), as well as anyone who’s found significant success in this industry. As part of this series, we had the pleasure of interviewing Christian Gore.

Christian Gore , founder and Managing Partner of G1 Capital , specializes in multifamily and industrial real estate, leveraging a data-driven approach with AI and machine learning. This tech-forward strategy ensures well-informed investment decisions. Christian has overseen US transactions totaling approximately $9.5 billion.

Thank you so much for joining us in this interview series! Before we dive in, our readers would like to learn a bit about your origin story. Can you share with us a bit about your childhood and how you grew up?

I was born in a small west Texas town and worked in the restaurant business while growing up. I spent a lot of my time playing sports at a highly competitive level. I learned people skills working in restaurants, and the sports, well that’s where I got the competitive bug. What makes Real Estate exciting is both facets, relationships, and sheer competition in the marketplace.

Can you share with us the ‘backstory’ of how you got into the real estate business?

It is interesting, I originally was concentrated in Computer Science at Brown University and ended up ultimately going to the finance route once realizing my lack of coding skills. I enjoyed the relationship side of the business and also the art of the deal. My initial gig out of university was led by Andrew Farkas in NY and I worked under a few former Leehman partners which was an incredible experience and fed my hunger for the industry.

Can you tell us about your company and what makes it stand out?

At the heart of G1 Capital Partners, is our mission to provide affordable housing. Our commitment isn’t just to invest and ensure that housing remains within reach for everyone. We harness the power of AI and machine learning for data aggregation, allowing us to make more informed decisions and target opportunities that align with our goal of affordability. This combination of cutting-edge technology and a deep-rooted commitment to the community is what truly sets G1 Capital Partners apart.

Can you tell our readers about the most exciting new projects you are working on now?

We are working on an exciting hotel repositioning play in Texas that has been a unique and exciting experience. Furthermore, we are focused on expanding our portfolio and targeting unique investment opportunities across the US. Our technology infrastructure allows us to identify and act on these opportunities swiftly. We’re also actively working towards our goal of deploying $200 million in equity by the end of 2024.

As with any career path, the commercial real estate industry comes with its own set of challenges. Could you elaborate on some of the significant challenges you faced in your career and how you managed to overcome them?

The most primary one recently is the state of the market which is a complete mess. One of my first finance opportunities I had out of NY was following the 2008 Great Financial Crisis and it was like drinking from a firehose. This came with very long hours but gained valuable experience and perfected my work ethic.

The current market and economy are a mess making it difficult to transact. On the positive side, we are currently asset-light and expect to capitalize on many opportunities to appear in the near future. The ability to be nimble and proactive in our business is crucial with the capital markets volatility in this day and age.

Ok, let’s now move to the main part of our interview about commercial real estate. What are the 3 things that most excite you about the industry now? Why?

First, the rapid integration of technology in commercial real estate. The industry is experiencing a digital transformation that’s reshaping how we do business, making operations faster, smarter, and more efficient. Secondly, a growing emphasis on inclusive real estate practices. This not only benefits people but also creates long-term value for investors.

Secondly, the younger generation of leaders. The industry is significantly overweight to long time industry veterans and there is significant value to be had with experienced younger talent. The views from a 20 year old versus a 60 year old person are vastly different and can be valuable on both ends. We are excited to continue to selectively add talent to our roster.

Lastly, the competition in our industry. Competition is healthy for the marketplace and it has never been more competitive. Our primary focus is to be an active manager of capital and it is imperative to have a strong team. There are always ups and downs and being able to navigate through those is what separates the best folks in our business.

What are the 3 things that concern you about it? Why? What should be done to address and alleviate those concerns?

First, the escalating affordability crisis, especially in urban areas. It’s alarming to see so many individuals priced out of homeownership, further widening the wealth gap. A solution is a better plan at the federal and state levels.

Second, over-reliance on outdated industry standards and sources of information. The industry must pivot towards more technology-driven, real-time data solutions to make informed decisions.

Lastly, the regulatory uncertainties. The current regulatory environment at all levels of government — federal, state, and local — throughout the U.S increasingly lacks the desired clarity, stability, durability, and predictability that is important to us operators and investors. Thankfully, I am not a politician but those folks need to figure it out. It stems from leadership at the highest level, or lack thereof.

If you had the power to put in place 3 changes to improve or reform the industry, what would you suggest? Please share stories or examples, if possible.

Affordable housing needs to be addressed immediately. The ability to create more residential communities is the pressure relief valve to prices or rents escalating. There are multiple ways to ‘skin the cat’ but ultimately there needs to be incentives in some form to fund the issue because in Texas for example there is no budget allocated towards it. We are actively working to solve this problem with public/private partnerships.

How has technology changed the commercial real estate industry, and how do you foresee it shaping the future of the sector?”

Technology has revolutionized how we access, process, and use data. From AI-driven market analysis to virtual property tours, it’s made the industry more efficient and customer-centric. Moving forward, I anticipate more nuanced data analytics, predicting market trends, and the emergence of smart buildings that self-regulate utilities to optimize for efficiency and sustainability.

I am hearing the phrase “Stay alive until 2025” a lot. What is your plan to survive in the current market?

Technology has revolutionized how we access, process, and use data. From AI-driven market analysis to virtual property tours, it’s made the industry more efficient and customer-centric. Moving forward, I anticipate more nuanced data analytics, predicting market trends, and the emergence of smart buildings that self-regulate utilities to optimize for efficiency and sustainability.

For a young person who would like to eventually make a career in commercial real estate, which skills and subjects do they need to learn?

Apart from the foundational knowledge in real estate finance and development, I’d recommend diving into data analytics, machine learning, and AI. Soft skills like relationship-building, negotiation, and critical thinking are equally important.

When evaluating deals or opportunities in real estate, what are the most important factors you look for and why? Can you provide some examples?

Location remains paramount. Beyond that, we also prioritize scalability, potential for community impact, and sustainable returns. For instance, when we considered a multi-family housing project in Dallas, we closely evaluated the community’s demographics, future growth potential, and how our project would benefit the local populace in terms of affordability and quality of life.

Can you share a story with us about the hardest deal you made, that ended successfully for you?

At a prior firm, we did the Google HQ 2 office development in ATL which was the longest deal I worked on (2 years) to get closed. It also happened to be my largest single asset transaction to be a part of which is a fun stat.

Ok, here is the main question of our interview. Based on your personal experience and success, can you please share “Five Things You Need To Create A Highly Successful Career In The Commercial Real Estate Industry”?

1. Integrity — Numbers don’t lie. Transparency is key.
2. Focus — This is a core value that you must have in your goals, work, life etc.
3. Drive — Nothing worth anything comes easy.
4. Adaptable — Paramount to be successful in an ever changing environment.
5. Forward Thinking — Always continue to strive for improvement in everything you do.

Do you have three things you would advise a new real estate professional to avoid?

Absolutely. First, avoid making decisions solely based on short-term gains; real estate is a long game, and patient strategy often pays off. Second, steer clear of becoming complacent with your knowledge. The industry, especially with the integration of technology, is always evolving. Staying updated is crucial. Lastly, don’t forget the human element of our business. While transactions are essential, building trustworthy relationships with clients and partners will always be foundational in this industry.

What advice would you give to another real estate professional about improving the work culture, building team morale, and helping each employee thrive?

Fostering a positive work culture starts with open communication. Encourage transparency and ensure every team member feels their voice is heard. Celebrate small victories, not just the big ones. Recognizing individual efforts builds self-worth and boosts morale. Lastly, invest in continuous learning. When employees grow their skill sets, they not only contribute more effectively but also feel a sense of achievement and direction in their roles.

What is your favorite “Life Lesson Quote”? Can you share a story of how that had relevance to your own life?

“There is no substitute for hard work.” — John Wooden. Life is a journey. It has been a lot of work to accomplish things we have done, but I couldn’t be more excited for the future!

You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. :-)

If I could start a movement, it would center on the “Homes for All Initiative.” This movement would advocate for public-private partnerships to create a seamless blend of affordable housing solutions. Combining innovation in sustainable construction with technological tools to assess local housing needs, we could empower communities to design and create homes that are both eco-friendly and financially attainable. Everyone deserves a place to call home, and with collective effort, we can address the housing disparity that many face today.

How can our readers further follow your work online?

I’d be happy for more people to engage with the work we’re doing at G1 Capital Partners. Readers can follow us on our official website.

This was very inspiring. Thank you so much for joining us!