1 rich Libsyn https://www.libsyn.com 90 600 I sit down with Frank Forte, Partner at Lucern Capital Partners, for a masterclass in consolidating the fragmented small bay industrial market . Frank has spent the last decade moving from high-level institutional banking to active ownership, raising over $100 million in equity and delivering project IRRs that most pro-formas wouldn't dare to show . We discuss the stark reality of the 2026 real estate market—what Frank calls a &quot;long winter&quot; for multifamily and storage—and why he believes the &quot;middle 80%&quot; of a deal (the operations) is where true wealth is created . From towing 85 cars off a distressed Charlotte site to helping small business owners find stability through five-year leases, Frank’s approach is a blend of hard-nosed Jersey grit and sophisticated financial underwriting . Key Takeaways from this Episode: Contenders vs. Pretenders: Why you need to peel back the onion on who is actually owning and operating assets versus just posting on LinkedIn . The Insulation of NNN: How small bay industrial protects landlords from the &quot;pound of flesh&quot; tax assessors are taking from residential and multifamily owners . Unlocking &quot;Tetris&quot; Value: Creative ways to move tenants within a park to mark rents to market without losing occupancy . The &quot;Humble Rebel&quot; Mindset: Why hungry entrepreneurs and small business owners make the best tenants . Global Economics: What a 90% tax rate in France can teach U.S. business owners about corporate structure and the ability to exit . If you are a real estate professional looking for the &quot;storm clouds to clear,&quot; Frank’s insights on finding and fixing distressed industrial assets are essential listening . Connect with Thaddeus Campbell (S3 Partners):
 Email: thaddeus@s3.partners
 LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ 
 Connect with Frank Forte (Lucern Capital Partners) Email:
frank.forte@lucerncapital.com LinkedIn:
https://www.linkedin.com/in/frankfortelucern/ This Episode was brought to you by:
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