{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"How to Build a $1.2B REIT from Scratch \u2014 Lessons from BTB\u2019s Founder","description":"How do you go from being a tax lawyer to building a $1.2 billion commercial real estate portfolio? In this episode of the Espace Montr\u00e9al Podcast, Axel Monsaingeon sits down with Michel L\u00e9onard, President &amp;amp; CEO of BTB REIT, to unpack the real story behind one of Qu\u00e9bec\u2019s most successful publicly traded real estate investment trusts. Michel shares the risks, doubts, and hard lessons behind launching a REIT before most people even knew what one was \u2014 including capital raising, surviving the 2008 financial crisis, navigating COVID, and maintaining discipline in volatile markets. This conversation is a masterclass in long-term thinking, capital structure, portfolio management, and real-world REIT economics \u2014 essential listening for investors, developers, brokers, and anyone serious about commercial real estate. &amp;nbsp; Topics &amp;amp; Timestamps \ud83d\udc4b Introduction &amp;amp; guest overview (00:01:03) \u2696\ufe0f From lawyer to real estate (00:01:49) \ud83c\udfd7\ufe0f Launching one of Qu\u00e9bec\u2019s first REITs (00:06:07) \ud83d\udcb0 Raising capital &amp;amp; first acquisitions (00:09:58) \ud83d\udcc9 Surviving the 2008 financial crisis (00:14:19) \ud83d\udcca How REIT distributions really work (00:19:22) \ud83c\udfe2 Building a $1.2B diversified portfolio (00:21:54) \ud83d\udcd0 Discipline, cap rates &amp;amp; strategy (00:23:36) \ud83d\udd04 Selling assets &amp;amp; portfolio focus (00:27:50) \ud83d\udd2e The future of office, retail &amp;amp; industrial (00:29:39) \ud83d\udc4f Final lessons &amp;amp; closing thoughts (00:32:08) &amp;nbsp; \ud83d\udd17 Connect with Michel L\u00e9onard \ud83d\udcbc LinkedIn:https:\/\/www.linkedin.com\/in\/michel-l%C3%A9onard-40926532\/  \ud83c\udfe2 BTB REIT: https:\/\/www.btbreit.com\/&amp;nbsp; &amp;nbsp; \ud83d\udc64 Follow Axel Monsaingeon \ud83d\udcbc LinkedIn: https:\/\/www.linkedin.com\/in\/axel-monsaingeon-42577b28\/ \ud83d\udcf8 Instagram: https:\/\/www.instagram.com\/axelmonsaingeon &amp;nbsp; \ud83c\udf10 Explore more resources \ud83d\udcca Market guides, data, and advertising opportunities: https:\/\/www.e5pace.com\/ ","author_name":"Espace Montr\u00e9al Podcast","author_url":"https:\/\/www.e5pace.com\/","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/39849440\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/395868\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/item\/39849440"}