Interview With Pearlstone Partners CEO And Principal Robert Lee

In this week’s blog we had the pleasure of interviewing a great friend of Capstone Title, Pearlstone Partners CEO and Principal Robert Lee.

Robert Lee is an entrepreneur and CEO with a proven track record of successful real estate projects in the Central Austin area. With more than 35 years of commercial real estate experience, Robert has been responsible for over $500 million in transactions overseeing the development, construction, and sale of product types ranging from single-family, multi-family, condo, office, and light industrial. An active member of both the Austin Chamber of Commerce and the Greater Austin Asian Chamber of Commerce, Robert is heavily involved in civic and philanthropic causes that better his community. Recently, Robert’s business expanded to markets outside the Austin area and he looks forward to conquering future challenges as his business continues to grow.

We are grateful Robert took a moment to share the latest regarding Pearlstone Partners and some insight to their company! 

1. Tell us about Pearlstone Partners and what projects you are currently working on.

Pearlstone Partners is a full-service real estate development firm that specializes in infill condominium projects in some of Austin's most desirable neighborhoods. We've been responsible for more than $300 million in locally developed real estate and manage every stage of the property development life cycle, from initial building concepts to sales and investments strategies for the final product.

Currently, we're in the construction phase for our EastGate condominium project in East Austin. EastGate embodies our philosophy of providing a quality product in a desirable area for a price that allows more people to enjoy living in Austin's established and burgeoning central neighborhoods. The convenience of the lock and leave lifestyle and attainable pricing make condominiums a great alternative to single-family homes for many Austinites.

EastGate will be completed by summer of 2019, but we also have several projects set up for delivery in 2020 that we're excited about. We have several mid-rise condominiums being developed in prime locations off of Webberville Road, Govalle, and 25th & Lamar and 48 East will be a high-rise residential tower constructed in the popular Rainey Street district. We're also currently in the process of filling our pipeline for 2021.

2. What commercial real estate trends are you currently seeing in Austin?

Right now the Austin real estate market is thriving, but affordability continues to be a concern. There is a population of interested home buyers that aren't being served by the market because of the high-cost of living in Austin and we are continually trying to find ways to provide a product that better serves them. Overall, there seems to be a decreasing interest in multi-family while office and commercial property interest remains high. 

3. What role does community service play in your company?

I believe it's important to give back to the community that has helped to push us forward. Especially as an Asian owned company, giving back to the Asian community at large is very important. I have a family history of service. My grandfather was the secretary general of Taiwan and had a history of impacting his community at a national level and I want to make at least a minor impact in Austin where I've lived for the last 40-50 years. We try to listen to the community and participate in the programs and initiatives put forth by the city to try to better it. 

4. If you could give one piece of advice to someone looking to invest or purchase a commercial property in Austin, what would it be?

Find someone competent and educated for representation. A lot of people like to think they can go out and do things on their own, but you have to think about it like you're participating in legal proceedings. Not many people would want to represent themselves in a legal case, you'd want to get proper legal representation and an expert in their field to guide you through the process and fight for your best interests. It's the same with real estate - there is no substitute for an experienced team that are there to help you through the process and ultimately reach your financial goals. 

5. Where do you see Austin’s commercial development heading in the next five years? 

Commercial development is going to increase and become more dense. As more people move here and space is limited, density will be the key to increasing housing availability and improving affordability. 

6. What empowered you to develop some of Austin’s most impressive projects?

It all starts with one thing: seeing a need and filling that need. We saw a need for attainable housing in Austin, especially in the center of the city. We wanted to try to open that market up to more people. 

7. What is your favorite summer activity in Austin?

Work, because real estate is like the temperature of Texas. When the temperature rises, so does the market. 

?This post originally appeared on Capstone Title.