Part 1: Josh Volen: Replace Yourself a Little Bit More Every Day

Welcome everyone to episode 25 of Offshoot. Today, my guest is Josh Volen the Principal and Co-founder of CIRE Equity, an $890MM NAVREIT.

Josh graduated from Cal Berkeley then spent 6 years at Marcus and Millichap where he became one of their top brokers. In 2010 he started CIRE. From 2010 to 2019 their acquisition were funded entirely through high net worth syndications. In 2019 they combined 13 of those assets into this NAVREIT, which functions just like the Blackstone BREIT, in that it is not on the public markets but does offer market-to-market transparency and limited redemption. In forming the NAVREIT they also partnered with a broker dealer to really boost their growth

Josh is unique, as he got deep expertise in the hard science of finance and real estate as well as a rich understanding of people and culture. Weaving these two strengths together has created a really powerful platform that I honestly suspect is just getting started.

Because it didn’t come out in the pod, for those interested in investing with CIRE its C I R E and you can find the group at CIREequity.com. 

Listen in as we cover topics that include:

How six years in the boiler room of a Marcus and Millichap brokerage shop really added to Josh’s skill set.

How CIRE view themselves as operators, not capital allocators.

Why Josh’s primary job is replacing himself a little bit more every day.

How successful remote work requires being intentional with accountability, solid meeting rhythms, and robust meeting structures.

How their underwriting process is first: what they could lose, second: base case, and third: upside.

How CIRE Equity is really just a professionally managed family office that’s nimble enough to beat other institutional capital allocators.

The fee structure in their deal offering

The compensation offered to CIRE’s employees and how that drives alignment.

How health, wealth, and security are core components of what’s being offered to the CIRE team.

How core values inform the day-to-day operations of the company, and how those core values are the north star of what they do and how they function.

The distinction between transaction shops (most real estate businesses) and a sustainable business.

Why hiring better than yourself is critical.

And finally, the importance of showing up for yourself, first, being present and clear, setting intentions, reminding yourself of important affirmations and continually learning.

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CONTACT US

FIDENT CAPITAL, INC.
600 W BROADWAY, SUITE 700
SAN DIEGO, CA 92101


P: 858.357.9611
F: 858.357.8670

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