This episode breaks down the hidden costs of closing a commercial real estate deal, showing investors exactly what to budget beyond the down payment to avoid surprises and protect their capital.

TIme Stamps: 0:00 – Introduction 0:11 – Podcast energy & banter 0:21 – Sponsor pitch / OSU joke 1:06 – Criterion updates & distributions 1:51 – Closing sale & project recap 3:16 – IRR, returns, risk in development 4:01 – Newsletter & investor communications 5:15 – Gateway acquisition update 7:29 – Cost items: loan charges, appraisal 9:53 – Title & escrow charges 13:04 – Title endorsements, easements 15:19 – Survey, property condition, closing summary 16:33 – Second deal cost comparison 18:21 – Using “points” and closing cost buckets 20:54 – Operating capital, over‑raising 22:06 – Final advice & wrap

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Criterion breaks down how interest rate cuts, upcoming debt maturities, and real-time deal closings are shaping its commercial real estate investment strategy right now — and what that means for you as an investor.

Time Stamps: 0:00 - Introduction
1:04 - Crypto Prediction & $100 Bet
2:19 - Real Estate Market Update: Rate Cuts & Treasuries
4:14 - H-1B Visa Fee Controversy & Economic Impacts
4:43 - Criterion Deal Update: Smith Farm One Closing
5:38 - Lessons Learned From a Challenging Deal
6:38 - Aspen Dental: Construction Wrap-Up & Buyer Interest
7:25 - Grand Prairie & Burleson TLEs on the Market
8:03 - New Development: Granbury & Hudson Oaks Retail Projects
9:31 - Improved Development Timeline & Cost Planning
10:29 - How Each Deal Sharpens Our Strategy
11:18 - Midwest City Shopping Center Opportunity
11:44 - Core Strategy: Community & Neighborhood Centers
12:30 - Why We Prefer Buying Over Developing Right Now
13:09 - Market Recap: COVID to Inflation to Today
13:46 - Q2 2025 CRE Stats: Retail Up 10%
14:28 - $1.8 Trillion in Debt Maturities Ahead
15:20 - Grocery-Anchored Retail Dominance
16:48 - Walgreens Decline & Risk in Pharmacy Retail
18:03 - Fast Food, Service, & Automotive Retail Resilience
19:17 - Power Centers With Strong Inlines Performing Well
20:13 - Office: Dead or Just Dormant?
20:37 - Top CRE Markets Right Now (TX, FL, NC)
21:15 - Why We Focus on Tax-Free States
21:59 - Sports Talk Closer & Final Thoughts
22:47 - Outro

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In this episode, we sit down with Alec McElhaney to break down his FlexSpace development strategy in Texas, covering land costs, phasing, leasing, and how he’s structuring deals to hit a 22% IRR.

Time Stamps: 0:00 ‑ Introduction 2:23 ‑ Who’s Alec & What He’s Building
4:00 ‑ What Is FlexSpace & How It Differs
6:00 ‑ Splitting Bays / Site Layout Details
7:01 ‑ Debt Structure & Equity Raising (506(c))
9:05 ‑ Projected Returns & Phasing Strategy
10:25 ‑ Land Price + All‑In Cost Per Square Foot
12:11 ‑ Rent Projections & Triple Nets
14:27 ‑ How Alec Got Started in CRE
17:28 ‑ Where to Find More (Website + LinkedIn)

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Connect with Alec & his team at https://land-play.com/

Retail real estate is heating up in 2025 as Criterion breaks down interest rate cuts, market trends, and the biggest store expansion moves from Dollar General, Target, Costco, and more.

Time Stamps: 0:00 - Introduction
0:37 - College Football Banter & Market Vibes
1:45 - Fed Update: Jerome Powell & Quantitative Easing
3:15 - Interest Rate Forecasts for End of Year
5:05 - Market Correction Talk & COVID Flashbacks
7:22 - Bailouts, NVIDIA, and Government Investments
9:10 - Main Topic: Future of Retail Real Estate in 2025
10:45 - National Retail Occupancy Numbers
11:25 - Retail Openings vs Closures: Surprising Stats
12:45 - Big Box Winners: Dollar General’s Massive Expansion
14:50 - Dollar Tree’s Comeback and 5,000 Projects
16:20 - Five Below’s Expansion & Lease Strategy
18:05 - Lease Breaks & Negotiating Better Deals
19:45 - Average Retail Releasing Time Revealed
20:40 - Trader Joe’s, Target, Costco & Expansion Giants
22:30 - Sam’s Club, Home Depot & New CRE Demand
23:50 - Murphy USA, Apple, and the Factory Question
25:30 - Google, Oklahoma Projects, and Bedlam Banter
26:45 - Retail Investment: Up 23% Year-over-Year
28:00 - Final Thoughts: Retail’s Strong Future & Lower Rates
29:05 - Outro & Weekly Wrap-Up

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In this high‑voltage episode, Criterion breaks down why 2025 is the sweet spot for commercial real estate—rising cap rates, rent growth, nimble deals, and fair‑play equity raises that move wicked fast.

Time Stamps: 0:00 - Introduction 0:20 - Equity Raise Sold Out!
1:35 - Empowering Fair Launch Approaches
2:19 - CRE Strategy: Applebee’s Outparcel Flip
2:45 - Upcoming Deals: Atlanta Medical + OK Shopping Center
3:21 - Main Topic: Is 2025 THE Best Time to Invest?
4:14 -Tackling Interest Rates & Rent Growth
7:39 - Inflation & Value‑Add Rent Upside
11:00 - Small Operator Advantages
14:35 - The Cost of Waiting vs. the Cost of Courage
16:41 - Bold Call to Action: Buy, Learn, Grow

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Criterion dives into the top five rookie mistakes in commercial real estate investing—from emotional overpaying to shaky financing structures—so new investors can learn the plays and thrive with confidence.

0:00 – Introduction 3:30 – Mistake #1: Don’t Overpay Out of Emotion
7:31 – Mistake #2: Underestimating Expenses
11:16 – Mistake #3: Relying on Projections Instead of Actuals
13:19 – Mistake #4: Weak Financing Structure
14:29 – Mistake #5: Ignoring Exit Strategy
18:20 – WRAP-UP & What’s Next

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This episode is a rapid-fire masterclass on essential commercial real estate terms—from NOI to CapEx—designed to help investors speak the language of CRE with total confidence.

Time Stamps: 0:00 - Introduction 3:30 - Intro to Commercial Real Estate Terminology
3:45 - NOI
4:40 - Cap Rate
6:10 - IRR
7:20 - Cash on Cash Return
8:30 - Equity Multiple
9:05 - Gross Potential Rent
10:00 - Effective Gross Income
10:25 - DSCR
12:30 - Operating Expense Ratio
12:40 - Break-Even Occupancy
13:10 - Debt Yield
13:30 - Appraisal
14:00 - Replacement Cost
15:15 - Basis
15:32 - Underwriting
15:56 - Pro Forma
16:07 - Rent Roll
16:18 - LOI
16:24 - PSA
16:42 - LTV & Leverage
17:14 - Amortization
17:45 - Balloon Payments
18:08 - Bridge Loans
18:52 - Recourse vs Non-Recourse
19:15 - Lease Types (Triple Net, Gross, Modified Gross)
20:00 - Anchor & Shadow Anchor
20:50 - TI (Tenant Improvements)
21:40 - CAM
22:09 - Rent Escalations
22:15 - Option to Renew
22:30 - GP / LP / Syndication
23:10 - Preferred Return
24:00 - Promote, Hurdle, Waterfall
25:10 - 1031 Exchange
25:45 - REIT
26:30 - CapEx / OpEx
26:45 - Stabilized Property
27:18 - Disposition

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Learn how Criterion evaluates commercial real estate deals in under 15 minutes, sets new acquisition records, and shares insider strategies to spot profitable investments fast.

Time Stamps: 0:00 - Introduction and Market Update
0:50 - $20M in Texas Acquisitions
1:54 - Distributions and Performance Check
3:00 - Diversification Strategy in CRE
5:00 - Evaluating a Deal in 15 Minutes
6:00 - Know Your Strike Zone
7:27 - Red Flags That Kill Deals Fast
10:44 - Finding the Spread: Rent vs Market
12:16 - Beating the Cost of Capital
14:40 - Instinct Through Repetition
18:47 - Renovating Out-of-State Properties
20:37 - Why Out-of-Market Wins
21:41 - Final Thoughts and Getting Started

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