David Evemy, Sarofim Realty Advisors
2017 Programs chair
What excites you most about the programs and events TREC is offering for 2018?
The short answer is quality over quantity. In a marketplace that often seems saturated with similar type events, TREC has made the decision to reduce its number of 2018 programs while simultaneously maintaining its commitment to offer the highest possible level of content. This will be immediately apparent in January, when the TREC Speaker Series kicks off the year with Jim Clifton (Global CEO of Gallup) as its keynote speaker. Jim Clifton is truly a unique presenter. His most recent innovation, the Gallup World Poll, is designed to give the world’s seven billion citizens a voice on critical global issues. I would encourage everyone, members and guests alike, to circle January 11, 2018 on your calendars.
You’ve also been very supportive of our upcoming podcast series. What kind of benefit do you think the medium will bring TREC and its members?
TREC is continually working to upgrade the way in which information is delivered. The new emphasis on TRECcast will provide a totally mobile platform that is custom designed around the interests of our members. We envision a topically categorized library of useful knowledge segments that cover a wide range of cutting-edge real estate topics. Real-time, highly relevant material that will be easily accessible from anywhere at any time. Subjects that we expect to feature early in 2018 include a new definition of networking in the digital/social age, Shark Tank finalist project progress spotlights, and real-time commentary on the changing yield environment in a maturing real estate cycle.
You’ve had the unique perspective of working within commercial real estate both in the United States and United Kingdom. How do the industries compare?
As a chartered surveyor in London, I acted on behalf of large institutional clients, and my role with Sarofim has many of the same fiduciary responsibilities. In a global business environment, the objectives of the money manager are similar: Recognize opportunity, design appropriate investment strategy, mitigate risk, execute and harvest return, etc. There is not enough time to detail out the many practical differences, but suffice it to say there are significant philosophical contrasts between the two industries. Risk tolerance and length of typical hold period are examples. The sheer scale of US real estate is often a challenge for the UK investor to underwrite.
If you could have dinner with any three people, from history or your personal life, living or deceased, with whom would you dine and why?
Dinner with my wife and two children gets more special as I get older, especially as we are “empty-nesters” and so it doesn’t happen that often. But immediate family aside, I would invite the Apostle Paul because I simply can’t imagine anyone better to say grace and he would undoubtedly keep the worldly commentary in its proper eternal context. I’m a Brit, and so I would have to invite Winston Churchill. We might not be able to get a word in edge-wise, but we would never, ever, ever give up (on anything)! Since I am a sportsman, well actually now a sports fan, I would have to invite Sir Bobby Charlton. For those people who don’t follow the icons of Manchester United, Sir “Bobby” is the greatest English footballer of all time, survivor of the Munich air disaster, World Cup winner (a game that I witnessed live at Wembley Stadium in 1966!) and most importantly, the greatest ever off-the-field representative of the privilege it is to be a professional athlete.
One of TREC’s foundational statements is a challenge to our members to “Build the city you imagine.” What kind of city do you imagine Dallas ultimately becoming?
Dallas is already a great city, but we need to maintain strong public and private cooperation designed to enhance its balanced growth. Why are many millennials choosing to live in Dallas rather than in lifestyle cities like Denver? I think that the answer lies in the FOMO (fear of missing out) concept. Dallas is the very definition of opportunity. This is its attraction and this is its greatness. There is simply no other place quite like it. Looking forward, Dallas will continue to build upon its growing global stature so long as it remains inclusionary and protects and invests in the potential for everyone to seek and fulfil their own unique objectives.
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