46 min

Real Estate Financing, Development and Student Housing, with Andrew Drexler | EP76 Working Capital The Real Estate Podcast

    • Investeren

Andrew Drexler has been a Part of the First National Financial Commercial Team for over 15 years, and has Originated more than $4 billion in Commercial Financing. In 2020 alone, his team funded over $1 billion in Commercial Mortgages, of which $822 million represented transactions in Ontario and $236 million Represented Transactions in Quebec

In this episode we talked about:

Andrew’s Bio & Background
The Real Estate Market Liquidity
Debt Markets and Financing of Projects
The Retail Real Estate Outlook
Remote VS Onsite Work
Real Estate Risks and Opportunities
Underwriting Apartment Buildings
Condo Development
The Student Rental Market
Canadian and US Real Estate
Mentorship, Resources and Lessons Learned
Useful links:
https://www.linkedin.com/in/andrewdrexler/?originalSubdomain=ca
https://www.firstnational.ca/contact-us

Transcription:
Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time, or at least an in gentlemen, my name Jessica galley, and you're listening to working capital the real estate podcast. Our special guest today is Andrew Drexler. Andrew has been part of the first national financial commercial team for over 20 years.
 
Now, for those of you that don't know first national is one of Canada's largest non-bank mortgage lenders offering both commercial mortgages and resident residential mortgage solutions. And correct me if I'm wrong, Andrew, I believe you said that we're over 10 billion in, in mortgage originations.
 
Andrew (50s): It's going to be pretty close to 10 billion for this year. Yes, we're on the commercial side. It's going to be a very exciting year.
 
Jesse (56s): Well, first of all, thank you so much for coming on. It's it's great that you're being generous with your time. How you doing today?
 
Andrew (1m 2s): My pleasure. Good. Thank you. It's a beautiful fall day in Toronto right now. I love fall. It's my favorite season. So it's a beautiful day
 
Jesse (1m 9s): Transience of that fall season. We get it for such a small amount of time. That makes it so good. Well, it is a, it is false. Yeah, no, absolutely. I appreciate that. It is fall. It's a leaves home opener today. So at least versus Canadians for the hockey fans out there. What we do with, with guests that we have on first and foremost, Andrews, we like listeners to get a little bit of a background into, you know, how you got into the, the real estate space, maybe a little bit of, of your background and how you ended up where you are today.
 
Andrew (1m 44s): Sure. So, you know, I first got introduced to real estate actually, when I came as a 14 year old immigrant to Canada for Romania, with my family. And it was the first time it occurred to me that you have to pay rent to live somewhere. And I thought that was quite interesting. So I guess I went to school at the university of Toronto and upon graduating, I was very fortunate to meet more the co-founder of first national and, you know, he's a legendary figure in our industry.
 
He's been a great mentor for me now for 20 years. And so early on in my career Morty and I were looking after one of our largest clients from Israel who came into Canada and bought a lot of real estate in a very short period of time. And so early on, I was exposed to all the different asset classes and because they were short-staffed here, we did a lot for them, not just the financing, but a lot of the acquisition work and due diligence work, you know, and that gave me a really good understanding of both the equity and the debt side. So it's been, it's been a really amazing ride really for the last 20 years, we've worked on some really exciting deals, mixed use deals

Andrew Drexler has been a Part of the First National Financial Commercial Team for over 15 years, and has Originated more than $4 billion in Commercial Financing. In 2020 alone, his team funded over $1 billion in Commercial Mortgages, of which $822 million represented transactions in Ontario and $236 million Represented Transactions in Quebec

In this episode we talked about:

Andrew’s Bio & Background
The Real Estate Market Liquidity
Debt Markets and Financing of Projects
The Retail Real Estate Outlook
Remote VS Onsite Work
Real Estate Risks and Opportunities
Underwriting Apartment Buildings
Condo Development
The Student Rental Market
Canadian and US Real Estate
Mentorship, Resources and Lessons Learned
Useful links:
https://www.linkedin.com/in/andrewdrexler/?originalSubdomain=ca
https://www.firstnational.ca/contact-us

Transcription:
Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time, or at least an in gentlemen, my name Jessica galley, and you're listening to working capital the real estate podcast. Our special guest today is Andrew Drexler. Andrew has been part of the first national financial commercial team for over 20 years.
 
Now, for those of you that don't know first national is one of Canada's largest non-bank mortgage lenders offering both commercial mortgages and resident residential mortgage solutions. And correct me if I'm wrong, Andrew, I believe you said that we're over 10 billion in, in mortgage originations.
 
Andrew (50s): It's going to be pretty close to 10 billion for this year. Yes, we're on the commercial side. It's going to be a very exciting year.
 
Jesse (56s): Well, first of all, thank you so much for coming on. It's it's great that you're being generous with your time. How you doing today?
 
Andrew (1m 2s): My pleasure. Good. Thank you. It's a beautiful fall day in Toronto right now. I love fall. It's my favorite season. So it's a beautiful day
 
Jesse (1m 9s): Transience of that fall season. We get it for such a small amount of time. That makes it so good. Well, it is a, it is false. Yeah, no, absolutely. I appreciate that. It is fall. It's a leaves home opener today. So at least versus Canadians for the hockey fans out there. What we do with, with guests that we have on first and foremost, Andrews, we like listeners to get a little bit of a background into, you know, how you got into the, the real estate space, maybe a little bit of, of your background and how you ended up where you are today.
 
Andrew (1m 44s): Sure. So, you know, I first got introduced to real estate actually, when I came as a 14 year old immigrant to Canada for Romania, with my family. And it was the first time it occurred to me that you have to pay rent to live somewhere. And I thought that was quite interesting. So I guess I went to school at the university of Toronto and upon graduating, I was very fortunate to meet more the co-founder of first national and, you know, he's a legendary figure in our industry.
 
He's been a great mentor for me now for 20 years. And so early on in my career Morty and I were looking after one of our largest clients from Israel who came into Canada and bought a lot of real estate in a very short period of time. And so early on, I was exposed to all the different asset classes and because they were short-staffed here, we did a lot for them, not just the financing, but a lot of the acquisition work and due diligence work, you know, and that gave me a really good understanding of both the equity and the debt side. So it's been, it's been a really amazing ride really for the last 20 years, we've worked on some really exciting deals, mixed use deals

46 min