Page 11 - Venture - State of the Market 2019

INTERVIEW WITH Can you tell us about some of your
experience in real estate investment/
development?
BRIAN SCALABRINE From the time I was a kid moving around

Southern California and Washington State,
Former Boston Celtics my parents have always bought
NBA champ fixer-uppers. We always put in the elbow
grease to increase the value of the
property. That is where I got my start and
that is how the interest and love in real
estate began. As a real estate developer
I always look for undervalued properties.
Things that you can put a little bit of work
into and they will come across as a cool
hip urban office or retail space. With the
Adriana that was more of a long-term play
because I really believed in the city of
Des Moines. The buildings I usually buy
would be so hard to replicate nowadays. I
like big timber beams and the wide open
spaces and it’s just not feasible. But I want
to give the small-ish company a place that
they really love, a place that all their
workers really enjoy going to. That has
always been my investment strategy when
it comes to commercial real estate. Now
that I am in affordable senior housing I still
want people to enjoy where they are at, I
want people to feel proud of where they
live. It is a very different building but with
the same fundamental beliefs.

What did you learn from owning &
In the middle of basketball season and traveling from city to city across developing the Adriana?
the country, Former NBA star Brian Scalabrine took the time to take
an interview with Venture Real Estate Group founder and principal, I learned that developing from the ground
Andy Langsford. Seattle native Scalabrine (Enumclaw more specifical- up is a lot of work. You have to be flexible,
ly), started his career playing for the New Jersey Nets in 2001. Later you have to curb expectations that not
played for The Boston Celtics where he helped them win the Champion- everything is going to go right and you
ship in 2008. He turned in the jersey for a sport coat and mic and now have to be prepared for things when they
announces Celtics games as well as an XM Radio show, “The Starting go wrong.
Lineup”. A few years ago, Scalabrine expanded his influence and
decided to take on Real Estate. In 2018, with the help of VREG, Scal-
abrine partnered with Andy to completed his largest project to date, How did you come up with the name of the
The Adriana. A 119 unit senior living apartment building in downtown project?
Des Moines.
For the Adriana, we chose to name it after
our two daughters, Adria and Elliana.
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