<p><iframe loading="lazy" title="Half a Century of Brokerage – Carl Muhlstein on the Evolution of Los Angeles Real Estate" width="500" height="281" src="https://www.youtube.com/embed/yHAALcK3y0o?start=8&amp;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<p>After nearly 50 years in commercial real estate, Carl Muhlstein has seen Los Angeles transform—and the brokerage business transform with it.</p>
<p>Carl joins The Kirsh Connection to discuss why he still loves the real estate business after five decades, whether technology is helping or hurting the development of the next generation of brokers, and the dramatic decline of Downtown Los Angeles from the city’s longtime business center. We also discuss the changing entertainment industry, the consolidation of major studios, and what the Paramount/Warner Bros. combination could mean for Los Angeles real estate. It’s a conversation about what has changed, what hasn’t, and what five decades in the business can teach the next generation of real estate professionals.</p>
<p>We discuss:</p>
<ul>
<li>50 Years Later, He Still Loves the Real Estate Business &#8212; After nearly half a century in brokerage, Carl Muhlstein explains what keeps him excited about real estate.</li>
<li>Is Technology Making Young Brokers Better—or Holding Them Back? &#8212; Carl discusses whether technology is accelerating young brokers’ careers—or preventing them from developing the skills that made earlier generations successful.</li>
<li>What Happened to Downtown Los Angeles? &#8212; Downtown LA was once the undisputed power center of the city. Carl explains how it got there—and what the exodus of major global companies means for its future.</li>
<li>Hollywood Consolidation Is a Real Estate Story &#8212; Carl discusses the transformation of the entertainment industry and what the Paramount/Warner Bros. combination could mean for Los Angeles real estate.</li>
</ul>


Half a Century of Brokerage – Carl Muhlstein on the Evolution of Los Angeles Real Estate

<p><iframe loading="lazy" title="Finding Opportunity in Niche Real Estate with Amachie Ackah of Clay Cove Capital" width="500" height="281" src="https://www.youtube.com/embed/83RxwBE-AOE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<p>On this episode of The Kirsh Connection, I sit down with Amachie Ackah, Co-Founder of Clay Cove Capital, to discuss how his firm identifies investment opportunities at the intersection of private equity, operating businesses and real estate. We discuss why Clay Cove focuses on growing niche sectors such as art storage, early childhood education and alternative hospitality; why they prefer building platforms rather than making one-off investments; how they encourage operating partners to own their real estate and turn a liability into an asset; and how they identify operating leverage that can drive value across a platform.</p>
<p>A great conversation about looking beyond traditional real estate asset classes to find opportunities others may be overlooking.</p>
<p>We discuss:</p>
<ul>
<li>Finding Growth in Overlooked Real Estate Niches &#8212; Where are the next interesting real estate opportunities? Amachie explains why Clay Cove is following the growth of businesses like art storage, early childhood education and alternative hospitality—and the real estate opportunities that come with them.</li>
<li>Why Invest in Platforms, Not Just Properties? &#8212; Clay Cove isn&#8217;t simply looking for individual real estate investments. Amachie explains why they prefer investing behind operating platforms and how that approach can create opportunities to scale.</li>
<li>Turn Your Rent Into an Asset &#8212; If an operating business is going to occupy real estate for years, why keep paying someone else rent? Amachie explains why Clay Cove encourages its operating partners to purchase their real estate—turning a long-term liability into an asset.</li>
<li>Finding Operating Leverage &#8212; Buying assets is only part of the equation. Amachie discusses how Clay Cove looks for operating leverage within its investments and how improvements at the platform level can drive value across the business.</li>
</ul>


Finding Opportunity in Niche Real Estate with Amachie Ackah of Clay Cove Capital

<p><iframe loading="lazy" title="From $200/SF to $800/SF: How Jofa Capital Finds Value Where Others Aren’t Looking" width="500" height="281" src="https://www.youtube.com/embed/Gl8vt4c4OwQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<p>Jackson Brissette and Brian Novak join The Kirsh Connection to break down Jofa Capital’s investment strategy through the lens of their Hawthorne airplane hangar deal. We discuss why they pursue complicated transactions, the importance of maintaining optionality, and how they turned a purchase at under $200 per square foot into a sale at more than $800 per square foot just three years later. We also discuss why finding great deals is harder than finding capital, the advantage of “fishing” where others aren’t, and why mission-critical real estate in the South Bay is benefiting from the growth of advanced manufacturing.</p>


From $200/SF to $800/SF: How Jofa Capital Finds Value Where Others Aren’t Looking

<p><iframe loading="lazy" title="Contrarian Apartment Investing: Why Advanced Real Estate Is Betting Big on Southern California" width="500" height="281" src="https://www.youtube.com/embed/rGgYkzA9cN4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<p>In this episode, Paul Julian shares why Advanced Real Estate has built one of Southern California&#8217;s premier multifamily platforms by taking a long-term, often contrarian approach to investing.</p>
<p>We discuss:</p>
<ul>
<li>Why Advanced Real Estate built its own 50,000-square-foot manufacturing facility to produce HVAC systems, cabinetry, plumbing components, carpentry, and other materials—and how that vertical integration creates a competitive advantage.</li>
<li>Why Advanced invests exclusively in Southern California, and why Paul believes the region continues to offer the best long-term fundamentals.</li>
<li>Why Paul made a bold $200 million bet on a Class A Hollywood apartment community at a time when many institutional investors were pulling back from Los Angeles.</li>
<li>Why higher interest rates create buying opportunities for disciplined, never sell apartment investors rather than reasons to sit on the sidelines.</li>
<li>How Advanced&#8217;s X Fund allows owners of land, single-family homes, smaller apartment buildings and other assets to contribute their properties and ultimately exchange into a diversified institutional-quality multifamily fund.</li>
</ul>


Contrarian Apartment Investing: Why Advanced Real Estate Is Betting Big on Southern California

<p><iframe loading="lazy" title="Building a National Affordable Housing Platform w/Jeffrey Jaeger, Co-Founder of Standard Communities" width="500" height="281" src="https://www.youtube.com/embed/AxMcmIZUJBI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<p>Building a National Affordable Housing Platform with Jeffrey Jaeger, Co-Founder of Standard Communities. We discuss: • Why affordable housing is the best form of public/private partnership.</p>
<ul>
<li>How Jeff and his partner recognized that, after TARP, the federal government can become their largest customer—and built their business accordingly.</li>
<li>Jeff&#8217;s perspective on Los Angeles&#8217; biggest housing challenges, including stagnant wage growth, lack of new housing, and the intersection of homelessness, mental health, and substance abuse.</li>
<li>How affordable housing construction costs can exceed market rate costs.</li>
</ul>


Building a National Affordable Housing Platform w/Jeffrey Jaeger, Co-Founder of Standard Communities

<p><iframe loading="lazy" title="White-Hot Leasing Market for Advanced Manufacturing w/Jacob Bobeck, Executive Vice President at CBRE" width="500" height="281" src="https://www.youtube.com/embed/BT2D_owJ3nA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<p>Advanced manufacturing is reshaping Southern California&#8217;s industrial real estate market—and few people have a better view of that transformation than Jacob Bobeck, Executive Vice President at CBRE.</p>
<p>In this episode of The Kirsh Connection, Jacob and I discuss why the South Bay has emerged as one of the nation&#8217;s premier hubs for advanced manufacturing, home to nearly 200 innovative companies. We explore the unprecedented demand for industrial space, with some companies seeking facilities exceeding one million square feet, what makes Los Angeles uniquely positioned to lead the next generation of manufacturing, and what must change for the region to reclaim its position as America&#8217;s premier place to do business. Jacob also shares how he developed the expertise to advise tenants across a broad range of industries in one of the country&#8217;s most competitive commercial real estate markets.</p>


White-Hot Leasing Market for Advanced Manufacturing w/Jacob Bobeck, Executive Vice President at CBRE

<p><iframe loading="lazy" title="Buying Distressed Loans: Finding Opportunity Where Others See Risk with Michael Moreno" width="500" height="281" src="https://www.youtube.com/embed/uk5cfdOxOWg?start=108&amp;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<p>Buying Distressed Loans: Finding Opportunity Where Others See Risk with Michael Moreno, Partner at Safe Harbor Capital Partners.</p>
<p>We discuss:</p>
<ul>
<li>How Safe Harbor acquires non-performing loans from banks and works to transform them into performing assets, creating value for both investors and borrowers.</li>
<li>How today&#8217;s distressed debt market compares to the Global Financial Crisis—and why this cycle looks fundamentally different.</li>
<li>One of the most important underwriting metrics when evaluating a loan acquisition: the relationship between the purchase price of the loan and the underlying property&#8217;s value.</li>
<li>Why double-digit year-over-year increases in loan defaults are creating new investment opportunities and what they signal for commercial real estate going forward.</li>
</ul>


Buying Distressed Loans: Finding Opportunity Where Others See Risk with Michael Moreno

<p><iframe loading="lazy" title="Fred Leeds: Building Generational Wealth Through Timeless Real Estate Investing" width="500" height="281" src="https://www.youtube.com/embed/YYBkp-FK0U8?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<p>How can someone evaluate a real estate deal in less than five minutes without using Excel? Fred Leeds, a Los Angeles real estate icon, has spent decades proving that great investing is often about judgment, discipline, and patience—not complex models.</p>
<p>We discuss:</p>
<ul>
<li>Why he purchased the Jaguar Repair Center in Santa Monica and why “high barriers to entry” are one of the most valuable characteristics in real estate</li>
<li>How he can evaluate a real estate investment in less than five minutes—without ever opening Excel</li>
<li>The lesson from his first mentor that changed his life forever: the power of passive income and financial freedom</li>
<li>His non-negotiable investment criteria—and why he’ll never cut a broker’s commission</li>
<li>Why his first home purchase in Santa Monica became the foundation for building generational wealth</li>
<li>Why he believes debt can become addictive, and why controlling leverage is the key to surviving every real estate cycle</li>
</ul>


Fred Leeds: Building Generational Wealth Through Timeless Real Estate Investing

<p><iframe loading="lazy" title="From Waiting Tables to Building a Global Media Empire to Re-Investing  in the Travel Industry" width="500" height="281" src="https://www.youtube.com/embed/tUtVV8VypPs?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<p>In this episode of The Kirsh Connection, Andrew Kirsh sits down with Jon Skogmo, CEO of Way Capital and founder of Jukin Media, to discuss his journey from waiting tables in Hollywood to building Jukin Media into a global company and achieving a nine-figure exit. Jon also shares why he started over with Lost In, a travel media company focused on inspiring travelers through authentic storytelling—not telling you where to go, but why to go.</p>
<p>Episode Highlights:</p>
<ul>
<li>Jon&#8217;s Hollywood story: moving to LA from Chicago and needing a headshot just to get a waiter job.</li>
<li>Building Jukin Media from his apartment into a 300-person global company.</li>
<li>The current state of the travel industry.</li>
<li>Why Jon launched Lost In and the growing demand for premium, experience-driven travel content.</li>
</ul>


From Waiting Tables to Building a Global Media Empire to Re-Investing in the Travel Industry

<p><iframe loading="lazy" title="Betting on Yourself: Benji Miller&amp;apos;s Journey from Institutional Real Estate to Entrepreneurship" width="500" height="281" src="https://www.youtube.com/embed/A0G_TltV6hc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<p>On this episode of The Kirsh Connection, I sit down with Benji Miller, Founder of Negresco Property Group, to discuss the realities of making that leap while still in your 30s. Benji shares the lessons he learned transitioning from the institutional real estate world at Hackman Capital to entrepreneurship—what gave him the confidence to take the risk, the challenges of building a company from the ground up, and the advice he would give to others considering the same path.</p>
<p>We also dive into the industrial outdoor storage (IOS) sector, why Negresco has focused exclusively on IOS opportunities throughout Southern California, and how the market has evolved since the frenzied investment environment of 2021–2023. Benji explains why transaction activity has slowed, where he sees opportunities today, and what investors should be watching as the market continues to mature.</p>
<p>Finally, Benji shares an incredible personal story about how he played a role in helping launch the college coaching career of Dan Hurley, who would go on to become a two-time NCAA Men&#8217;s Basketball National Champion at University of Connecticut.</p>
<p>Whether you&#8217;re an aspiring entrepreneur, an institutional real estate professional contemplating your next move, or simply interested in the evolution of today&#8217;s commercial real estate market, this episode offers practical insights from someone who recently made the leap—and hasn&#8217;t looked back.</p>


Betting on Yourself: Benji Miller’s Journey from Institutional Real Estate to Entrepreneurship

<p><iframe loading="lazy" title="The Walking Dead Blueprint: How Skybound Rewrote the Rules of Hollywood w/David Alpert" width="500" height="281" src="https://www.youtube.com/embed/FQs_D9KWsTw?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<p>The Walking Dead Blueprint: How Skybound Rewrote the Rules of Hollywood, My Conversation with David Alpert, CEO and Co-Founder of Skybound Entertainment.</p>
<p>We discuss:</p>
<ul>
<li>From comic book startup to worldwide phenomenon: the inside story of The Walking Dead.</li>
<li>How Skybound built a global entertainment empire while rewriting the rules of Hollywood.</li>
<li>Why Hollywood&#8217;s old business model is broken—and what comes next.</li>
<li>The shocking lack of government support for one of Los Angeles’ signature industries.</li>
</ul>


The Walking Dead Blueprint: How Skybound Rewrote the Rules of Hollywood w/David Alpert

<p><iframe loading="lazy" title="Building a National Branded Condo Platform with Meg Epstein, Founder of CA South Development" width="500" height="281" src="https://www.youtube.com/embed/lb8XQfM_J0A?start=121&amp;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<p>Building a National Branded Condo Platform with Meg Epstein, Founder of CA South Development.</p>
<p>We discuss:</p>
<ul>
<li>The Airbnb side hustle that helped Meg pay her rent and ultimately sparked the vision for CA South.</li>
<li>The unique condo model that allows owners to live in their unit or monetize it through short-term rentals.</li>
<li>Why condo development is attracting more capital than multifamily in today&#8217;s market.</li>
</ul>


Building a National Branded Condo Platform with Meg Epstein, Founder of CA South Development

<p>&#8220;As someone making some of our first key hires, having attorneys who are responsive, thorough, and proactive has given me a lot of confidence. Sklar Kirsh have been great partners throughout the process and an integral part of our growth.&#8221;</p>


Kevin Langue, CEO of Sugar K LLC

<p>&#8220;The Sklar Kirsh team was a truly magnificent legal and commercial resource to have on our side for our fast paced journey.  It wasn’t easy and it was certainly a rollercoaster.  They were smart as a whip, crisp and to the point and always had our back.  You guys are rock stars!&#8221;</p>


Michael Anderson, President of InnovateMR

<p>“My partners and I have worked with Sklar Kirsh from the founding of our firm in 2013 to our successful recapitalization in August of 2021 and I recommend them without reservation. Practical, insightful, business minded, responsive…and able to create collaborative relationships with other parties in the transaction. Excellent Corporate law <em>and</em> M&amp;A counsel without excessive drama or ego.”</p>


David Lewis, CEO of 8020 Consulting

<p>&#8220;Sklar Kirsh was an invaluable guide through the acquisition of my company. They not only valiantly represented my interests, but also internalized my values and always made sure I fully understood each step in the process. When the deal was done, I actually missed talking with them every day. I recommend them to everyone.&#8221;</p>


Roman Mars, Creator and Host of 99% Invisible

<p class="p1" style="margin: 0in; margin-bottom: .0001pt;"><span class="s1"><span style="font-size: 13.0pt; color: black;">“When I started Pacific Intelligence I wanted it all &#8211; concierge service you can only get from a boutique, big firm attention to detail, and a relationship constantly adapted to my stage of the growth cycle. Sklar Kirsh is the ideal law firm for LA’s entrepreneurs.”</span></span></p>


Jack Weiss, Principal, Pacific Intelligence & Cyber and former Los Angeles City Councilman

<p>“Sklar Kirsh helped us achieve the impossible.  The SK team is incredibly strategic, accommodating, and downright brilliant.  They guided us deftly through a maze of complex decisions that would have otherwise been bewildering.  Every member of the SK team has been a true partner for us since day one, and they’ve worked around the clock to get us to our stated goal – to build an even stronger company that can do more good for its customers and staff.&#8221;</p>


Jack Li, CEO of Datassential

<p>&#8220;We&#8217;ve built our agency in part by being faster, more attentive, and smarter than the competition. We can&#8217;t do that unless our partners are of the same caliber. The team at Sklar Kirsh has proven time and again that they are as hungry and committed as we are. The relationship with our agency and Sklar Kirsh could not be more cohesive. They have an expert understanding of our business and provide trustworthy advice &#8211; especially in difficult situations.&#8221;</p>


Marc Simons, Manager of Giant Spoon LLC

<p>“For several years, I have worked with Sklar Kirsh for my M&amp;A and other corporate law needs.  They are practical and creative lawyers and have guided me through several major transactions with a steady hand and clear focus on my goals.”</p>


Mark Mickelson, Managing Partner of Next Point Capital, Chairman of Art Brand Studios & Chairman of Next Point Bearing Group

<p>“Closing real estate deals takes an enormous amount of focus on the operators&#8217; part. We rely heavily on the expertise of the Sklar Kirsh team and are confident that our best interests are being met 100% of the time.”</p>


Eddie Ring, New Standard Equities, Inc.

<p>“Sklar Kirsh’s attentiveness to detail, breadth and depth of legal knowledge, uniquely combined with good business judgment, have made them terrific thought partners. Their approach to problem solving and ability to be collaborative, have made them a pleasure to work with. We are delighted to have their counsel.”</p>


Yaniv Tepper, Manager of Kinematics, LLC, and Managing Partner and co-Founder, Angeleno Group, LLC

<p>“After vetting out numerous M&amp;A firms, picking Sklar Kirsh proved to be the best business decision I have made in my career. Their attention to detail, focus on my personal needs and the friendship I built through the process made the overall experience world class.”</p>


Jarrod Dogan, CEO of Hybrid Promotions, LLC

<p>&#8220;Sklar Kirsh provides top notch service to their clients. Black Equities Group has been working with Sklar Kirsh lawyers for years and we hope it continues from many years to come. The lawyers at Sklar Kirsh are professional, timely and they always put their clients first.&#8221;</p>


Zach Zalben, Black Equities Group

<p>&#8220;I have had the pleasure of working with and relying on the lawyers from Sklar Kirsh for many transactions. Sklar Kirsh has an aptitude for understanding the big picture of their clients&#8217; objectives, which helps them bring additional value in assisting their clients to make better business decisions. Their attention to detail, thoughtfulness, and integrity make them a pleasure to work with.&#8221;</p>


Noah Hochman, Senior Managing Director, TruAmerica Multifamily

<p>&#8220;I have worked with Sklar Kirsh on more than 20 transactions and they always provide outstanding service, are consistently responsive, and possess strong legal and business knowledge. Protecting the client is their top priority, while they simultaneously appreciate the need to be flexible and fluid in a transaction. Sklar Kirsh brings a deep network of relationships and wealth of experience to each transaction. I especially appreciate their ability to look at a deal from both a legal perspective as well as an investor&#8217;s.&#8221;</p>


Jonathan Barach, President, Vista Investment Group

<p>“Over the course of more than a decade working together, Jeff Sklar has proven to be the most trusted legal advisor I have had the privilege of working with. In that time, I have engaged numerous attorneys across a wide range of firms and practice areas, and no one has come close to the level of counsel Jeff consistently delivers. His breadth of knowledge across complex and varied legal matters is exceptional, but what truly sets him apart is the quality of his judgment. Jeff does not simply advise on the law. He thinks alongside you, helping you navigate toward the best possible outcome with clarity, precision, and a strategic depth that goes well beyond what most attorneys bring to the table.”</p>


The Kirsh Connection w/ Andrew Kirsh