Alec serves as the Head of Acquisitions and Asset Management at Gindi Equities, where he leads the sourcing, closing, and execution of new acquisition opportunities while also driving the success of existing assets through well-planned business strategies. Boasting over a decade of direct multifamily experience, Alec has worked with 8,500 apartment units throughout his tenure at Ashcroft Capital, where he served as a crucial member of the acquisitions team. Prior to joining Gindi Equities, Alec held distinguished acquisitions and asset management positions at Azure Partners and Kushner Companies. He received his Bachelor of Arts degree in Political Science from Gettysburg College.
Q&A
How did you end up working with Gindi Equities and what do you enjoy most?
I ended up working at Gindi Equities because I had a lot of faith in Al and Raymond’s vision to organically grow this business from a startup to significant player in the multifamily space. I appreciate the level of autonomy my team and I have to create value for our partnerships and investors.
Alec, tell us about any key items on your desk and any acquisitions matters that are on your watchlist?
The key items on my desk are pictures of my family, they keep me grounded and are a constant reminder of what is most important. Acquisitions these days difficult to pin down; we’re in a constant state of price discovery as there is volatility in the capital markets. I’m a firm believer that in these environments, it is pivotal to create your own opportunities instead of waiting for the market to present them to you. At the end of the day, we’re dogs on a hunt and every team member needs to embody that mentality.
Are there any key changes to note in 2024 or things on the horizon for the second half of the year?
I think deal flow will pick up for the rest of 2024 and into 2025 based on the Fed’s signaling of rate cuts ahead. Additionally, the oversupply in many markets should be mostly worked out by the end of 2025 which should give investors confidence to jump back in. The new supply landscape post 2025 is very light so I generally think multifamily will be an attractive space for compelling risk-adjusted returns on a go-forward basis.
Final question: what can you tell us about you personally, for instance, what do you enjoy doing with your free time?
In my free time I enjoy spending quality time with my family, reading, traveling, skiing, complaining about something frivolous, and not taking myself too seriously.
