
Perry Solem
@PerrySolem
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Eli Gemstone Family Office. Done over $70mn of storage acq & dev deals as a gp. Worked for a couple REITs in the past. DMs open / [email protected]
Atlanta, GA
Joined July 2016
Land: $500k for 2.2 acres Logo drawn by a guy who was living in a van: $500 Construction contract: $4.7mn (way more than expected) for 76k gross sf Building, leasing up (mostly), then selling this thing and seeing the current owner get $169 for a 10x10: priceless
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Beginner-level real estate developer: range rover Level 2 real estate developer: your own plane Level 3: your name on a big building Ultimate final boss: conducting middle eastern wartime negotiations
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(i make no claims as to the truthfulness of this story,... all hearsay)
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Ethereum is achieving ultimate neutrality by evolving into a universal and mathematically verifiable settlement layer, proven by the Cambrian explosion of independent execution environments that have chosen it as their common anchor for security and truth.
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the story of the initial creation of a company can be a total shitshow the first deal that made Cortland Partners into what they are today occurred because: a friend of the founder's was being pursued for money owed, and wanted to dump a bunch of cash somewhere illiquid.
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i saw the founder of a shop that has done over half a billion $ of storage deals talk at a panel in ny last year - he made storage sound invincible, and mostly unaffected by housing market changes bullshit! to hear a more honest take on ups and downs:
perrys-newsletter.beehiiv.com
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but dont get me wrong. the light gray and the white ones are not going anywhere.
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I’m going to @ajnafi’s upcoming Space. Will you join too? https://t.co/GVtFfNezWG
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friend of mine has looked at ~22 storage facilities in recent months that are officially in the distressed category some never should have been built the excesses of 2021 are taking YEARS to play out
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"This one definition says 'characterized by an emphasis on specific sexual activities or anatomical areas' This sounds like something from 1970s Times Square that hasn’t existed since You’d like pay a quarter to hear some girl talk dirty behind a curtain"
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1/ WalletConnect is set to surpass $400B in annual Total Network Volume. The connectivity layer of the financial internet. Here's the breakdown ↓
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new Permitted Use just dropped
@chriswhatch this is 100% true permitted uses include: clock repair store, haberdashery, etc
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and i continue to be impressed by a facade that is hundreds of ft back off the road. cant wait to see the majestic orange of the Public Storage logo beaming from atop the hill
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they're "shooting for the end of the month" and this is the current state of the leasing office/countertop area, ok sure
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the "drive-up climate controlled" units are not done. when Shelton asked if there's a chase in every unit, i thought he was asking about a return in every unit. and the answer is no, there doesn't need to be. but i was wrong in this case, there will be: every single drive up
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Many people struggle to swallow large pills because they trigger the gag reflex, feel uncomfortable and cause throat tension.
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the absolute greatest thing to see at a property that practically touches your under-construction storage facility: under-construction market rate apartments
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forgot to add a few others. why does every project i build have guardrails? does it have to do with a spreadsheet geek selecting sites instead of a construction expert?
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turns out low 200s psf is the answer to the cost question (no parking!)
at the neighborhood coffeeshop just ran into the developer of this postage stamp-sized site. god knows what he's ballparking for the psf cost of this thing. looks awesome though. 1976 Hosea L Williams Dr NE, Atlanta, GA 30317 -- in the heart of 'downtown kirkwood'
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cost of a business trip if it's just me (or even me and a colleague): cost of a business trip if i try to combine it w a "wife and kids" trip:
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