Season 7, Episode 1: Season 7 of the No Cap Podcast kicks off with a masterclass in global real estate investment and management. Jack and Alex sit down with Richard Litton, President of Harbor Group International, to explore how the firm scaled from a $1 billion management-focused company to a $21 billion powerhouse.

Richard breaks down the creative evolution of Harbor’s strategy, detailing how they pivoted from secondary office markets to becoming the world's most active Freddie Mac buyers. From navigating the current wave of CRE debt maturities to exploring opportunistic plays in markets like Detroit and Cleveland, learn how these experts deploy capital at scale in a reset market.

Whether you're looking at workforce housing or the resilience of Manhattan office credit, this episode is a must-listen for understanding today’s complex financing environment. Join us as we dive into the power of vertical integration and strategic risk-reward underwriting in the new era of real estate.

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TOPICS

00:00 – Introduction
01:54 – From Corporate Law to Building a $21B Powerhouse
07:15 – Exiting Secondary Office Markets Before the GFC
10:55 – Launching the Credit Platform and Partnering with Freddie Mac
14:15 – Assessing Risk in a Saturated Private Credit Market
18:27 – Workforce Housing vs. Class A: Finding Value in Market Resets
23:14 – Navigating Sunbelt Supply and the Realities of Negative Leverage
28:37 – Manhattan Resilience and D.C. Credit Plays
34:58 – Betting on Detroit, Cleveland, and Norfolk
40:59 – Sourcing Deals in a Reset Environment

For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/

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About No Cap Podcast

Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.

About CRE Daily

CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

How Harbor Group International Manages $21 Billion Across Multifamily, Office & Credit