“When we started in Deep Ellum, no one wanted to invest. We could not get money from banks or institutions. So basically, I convinced some of my personal friends and private investors to take a risk. The goal was always to get it up and going, and then go out and get more traditional financing, so we did that. [We wanted] to get someone to invest in our partnership, but Asana rose to the top with their expertise, their personnel, their desire to keep the community and to focus on the community, and they’re just really good people. So we chose them, but they had a requirement from their fund that they had to own the property versus being in a partnership. So that was sad for us. We wanted to stay involved and see the next stage of the vision put in place. We kept some properties, and we’ll still be committed to the community. Asana has a lot of really good ideas for Deep Ellum—to put in better sidewalks, better lighting, parking lots, landscaping—all of the things I’ve been wanting to do but needed someone to come alongside [to] do it.” — Scott Rohrman, founder and CEO of 42 Real Estate, on his sale of Deep Ellum property to Charlotte, N.C.-based real estate investment firm Asana Partners.
Robert Kaplan, CEO of the Federal Reserve Bank of Dallas, discussed rising home prices, falling oil prices, retail spending, and how all of it impacts the Dallas economy. “One of the significant [challenges] is home prices … and it’ll continue to be because I think this migration will continue.”
Kay Bailey Hutchison, former U.S. senator, talked about her nomination by President Trump to be ambassador to the North Atlantic Treaty Organization. “I’d love to get over there and get started representing America—our issues as well as our responsibilities.”
Larry Hamilton, founder and CEO of Hamilton Properties, told what to expect from the new Lorenzo Hotel next to the convention center in downtown Dallas. “It’s kind of in an unconventional area that’s on the south side of the convention center instead of the north side, so it’s sort of a gateway to southern Dallas.”