TPG NEXT will seek to reshape and expand the alternatives marketplace, introducing new and flexible avenues to strategic capital to develop, launch, and propel the next generation of diverse investors and entrepreneurs. Aug 2022 - Present6 months. Childress, 38, believes more athletes should venture into commercial real estate, which provides the chance to create generational wealth if done properly. Since then, TPGs portfolio companies have added more than 100 women directors. Josh, turning back to you now, how does your work with Landspire and RevOZ, those two firms, how does that connect to the broader portfolio of projects that youre working on? ), Get our latest stories in the feed of your favorite networks. And, you know, obviously, we both have backgrounds in sports but also, you know, see the impact that sports had on our lives. And I think when you kind of identified that, or that part and to identify that, and hopefully it's more on the understanding of what can we do long term in terms of transformational change. The hard work of making sure that the small businesses that we want to be present have their accounting together. Justiin Davis has been described by The Huffington Post as "One to watch out for!" So we don't just look at it like, Hey, here's this apartment, move in there, you're good to go. 219 Irvine, CA, 92612 Phone: 949-316-1230 . really key thing for us. Josh, how should we think about these issues, not just within the Opportunities Zones landscape, but with investing in real estate more broadly? Before joining BRIDGE, Alexis was a project manager for Thomas Safran and Associates where she managed the development and refinancing of affordable housing projects in LA County. Justin Davis is a Portfolio Manager at Roberts Enterprise Development Fund based in Los Angeles, California. So I passed by that corner, I don't know, three, four times a week for 10 years, 15 years. What is the best way to promote resilience in our communities right now? And we'll be building a transit Plaza and redeveloping a site that's been underutilized and kind of a blight on the community in the meantime. The family business expanded to Coca-Cola bottling in 2017 and then to media in 2020. We were joined today by three professionals, one in the private sector focused on making sure that affordable housing not only provides a valuable return, but it's also something that provides a valuable return to community and to individuals, and to circulate and make sure that resources stay in community. So it's not just us coming into the community and saying like, this is how it needs to be. Jarett, we're gonna start with you. Empowering a more diverse group to become capital allocators will help to increase investment into diverse-led businesses, creating a positive ripple effect across the industry. And we've got some special guests with us today. Vermont is the second busiest line for the metro system. But it was our intent to be a part of those opportunities to make sure that theres an impact and a responsibility component to all the dollars invested in these areas. How is Landspire group working to make this happen, creating equitable growth and community? For the non-Durants of the NBA, well, its Deborah Murmans job to make sure they have the tools they need to do what they want off the court, now or when they retire. Jimmy: Absolutely, Josh. Or LeBron. What was it like growing up in Compton and, you know, how did you stay off the street when you were growing up? Childress said he hasnt had the chance to meet the TPG chairman (Bonderman) yet but is interested in learning more about the business of sports and admires how former NBA stars like Dwyane Wade and Hill have successfully transitioned to team governorship. As you said, its not the end all be all. I like that for opportunity, Jarett, anything we want to share with people in terms of best practices. And I feel very blessed to have gone through my my financial training. And finally, I'm thrilled to present Justin Davis, C0O of Landspire group. For today, let's discuss what can be done to make affordable housing more available and creative ways professionals in the field are approaching this subject and this complex issue in a holistic way. Jimmy: Can you tell me a little bit more about your investment thesis, your investment strategy? The WealthChannel Network:OpportunityDb | WealthChannel, Tax Planning With Opportunity Zones, With John Berlet, The Forthcoming Distressed Debt Opportunity For Investors, With Nathan Whigham, Live At OZ Pitch Day Spring 2023, With Ashley Tison, The 2023 Opportunity Zone Impact Survey, With Reid Thomas, Why We Started WealthChannel, With Andy Hagans, Alex Bhathal on the Opportunity Zones Podcast, The Opportunity Zones & Private Equity Show. We even have a financial coaching, supported by LISC, where we also work on income and stability as well. Firm announces investments in LandSpire Group and VamosVentures, as well as a partnership with the NAIC; together with Harlem Capital, these companies form the inaugural TPG NEXT portfolio. I think there's been a deepening and enriching to the understanding that when we're housing people that have housing instability, it has to be a complete and comprehensive process, because you have to work on the person as well as the process. These structural dynamics will continue unless we push ourselves to step outside of our traditional circles and invest behind people, ideas, and networks that are different, said Jon Winkelried, Co-CEO of TPG. And and I think, understanding this sector, you have to be mindful of all the different players that are involved, right? It's about bringing up and empowering young people and obviously the real estate business apartment where we actually do the nuts and bolts of creating buildings. I think specifically at the Vermont Manchester site, you're gonna have a vocal community of people who want to be involved. Previously, Justin was a Principal In vestor In President at Kapor Center. Its not a perfect tool, its not gonna solve all of our nations problem but its a great tool Opportunity Zones are. Log In. The former NBA guard-forward is probably best known for leaving the league after four successful seasons in Atlanta to play in Greece in an uncommon move that made him the highest-paid player overseas. That's right. Last year, equity giant TPG agreed to incubate LandSpire with seed money, expertise and assistance in raising funds and targeting investments. Justin Davis. Josh Childress and his former Stanford teammate, Justin Davis, started their real estate fund LandSpire Group in 2018. And there are players who can do that. Jarett, you agree with that? So always interested in meeting quality people and learning from individuals and finding ways to create, you know, impact in any way I can. The changemakers podcast is a tribute to the people and places that work to make Los Angeles neighborhoods good places to live, work and play. You mentioned equitable change, you mentioned creating economic mobility in these Opportunity Zone communities. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. LandSpire Groups investment thesis, goals, and why its important to do good deals with good people. Alexis, you and Jarett have had a chance to work on, you know, really advancing economic opportunity there at the Vermont Manchester of development, might you share any best practices or things that you learned along the way? And so that's great to hear. Don't be afraid to take the time to educate people about the hard work of you know, finding people that are actually going to show up to the jobs that we make available. Find your friends on Facebook. #DevelopmentWithoutDisplacement, Founder & CEO - NALA | Y-Combinator '19 | Stanford MBA | Harvard Kennedy School of Government, Feeling grateful to be here in #Mozambique. So, you know, it was our intent to create Landspire Group, which is, you know, to inspire change to land development. Excited to see my brother, Josh Childress, represent #LandSpire at Walkers Legacys The Men Who Enterprise Digital Summit. Justin Davis on LinkedIn Alex Bhathal on the Opportunity Zones Podcast Industry Spotlight: LandSpire Group LandSpire Group is a Los Angeles-based real So it was intriguing to me from a young age and I continue to be even more intrigued as I got older. 219. TPG has partnered with LandSpire Group, a 100 percent Black-owned real estate firm focused on investment and development in secondary markets across the U.S. As part of the partnership, LandSpire co-founders Josh Childress and Justin Davis and internal legal counsel Treana Allen have formally joined TPGs real estate team for the next year as TPG NEXTs first Investors-in-Residence. They are nonprofit, affordable housing developers and holistic community developers. Josh, thanks for taking the time to join me today. Although the median incomes of both Black and White households grew in the last decade, Black household incomes rose much more slowly. Its a real-estate development firm that targets underserved communities. You know, very few for profit developers get on a call with me and start talking about how can we change generational wealth opportunities? Compton has quiet areas, it that has really, really rough areas. Justin received a B. See Photos. The impact that sports had on Josh from a young age. Justin Davis. He is one of the best, most-known players in the sport. 2023 Tarrant Capital IP, LLC, All Rights Reserved. First up, I'd like to introduce Alexis Lang. The Compton, Calif., native looks to expand his companys portfolio of multimillion-dollar projects, ranging from apartments in Las Vegas to movie studios in Chicago, thanks to some added horsepower and the expansive network at private equity firm TPG. In the meantime, he looks to leverage his TPG relationships to bolster his companys overall commitment. Today, TPG NEXT received a $500M anchor commitment from CalPERS to supercharge its efforts to change the diverse-led fund manager landscape. And I think, you know, this program, is that. VamosVentures was founded in 2016 by investor and entrepreneur Marcos Gonzalez. WebJustin Davis; Firm: Address: 2082 Michelson Dr Ste 219 Irvine, CA 92612: Source The partnership will build on the organizations shared commitment to addressing the industrys pipeline challenges through curated events, training, and other engagement opportunities. Josh was a standout college basketball player at Stanford and played for several years in the NBA with the Atlanta Hawks, Phoenix Suns, Brooklyn Nets, and New Orleans Pelicans. TPG has made a strategic minority investment in VamosVentures, an early-stage venture firm that invests in companies led by diverse teams, with a special focus on the Latinx community. (Kevin Winter / Getty Images). WebJustin D. Expand search. But, you know, where we really provided value in that deal was, you know, having a deep understanding of the community needs and really addressing those in the development. No, we work on career stability, income stability, and mental stability as well. I saw my peers doing some cool things, and after that, I told them I wanted to be on stage. Industry: Other Real Estate (See others in industry) Address: 2082 Michelson Dr. Ste. I left that career summit feeling like I had to make some things happen, Childress said. The emphasis in the household Junior grew up in was not on basketball or on making big bucks but on education, which Junior received by attending the University of Louisville. While he was playing and starring for the Bulls, he amassed a cavalcade of endorsements that stretched way beyond Nike, to include such iconic brands as Gatorade and McDonalds. LandSpire Newport, LLC. LandSpire Gramercy Fund I, LLC. How are you all looking at holistically focusing on a housing instability to make sure we create more stable options for people in South Los Angeles? TPG is a leading global alternative asset firm founded in 1992 with more than $91 billion of assets under management and offices in Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Mumbai, New York, San Francisco, Seoul, Singapore, and Washington, DC. Contact. Right? If we can create better living conditions, create more job opportunities, allow for participation in some of the growth in these areas, then you start to see real change happening where, you know, everybody isnt in need of the $600 stimulus. It's great we've got nonprofits, people know that I'm definitely behind that. A lot of people in a lot of families are living check to check and, you know, below that poverty line. TPG has partnered with LandSpire Group, a 100 percent Black-owned real estate firm focused on investment and development in secondary markets across the U.S. As part of the partnership, LandSpire co-founders Josh Childress and Justin Davis and internal legal counsel Treana Allen have formally joined TPGs real estate team for the next year as TPG NEXTs first Investors-in-Residence. But from an investment perspective, our investment thesis really is, you know, first and foremost, do good deals with good people. Josh: Yeah, so Landspire Group was founded by my partner, Justin Davis, and I. Justin was my teammate and roommate at Stanford, and so we have a long-standing history together. #SSWAfrica17, National Basketball Players Association (NBPA). If you search for Josh Childress, youll find me there with some glasses smiling away. It was a golf course redevelopment. And I also grew up with my father on Vermont, and in the city of gardena. Because, you know, Alexis, this whole question was about how do you preserve communities, and a critical piece of that includes having the community be part of determining what goes on the site? Since then, TPGs portfolio companies have added more than 100 women directors. WebLA Downtown Share Currently, LandSpire serves as Investors-in-Residence at TPG through TPG Next, an initiative designed to back diverse emerging talent by providing And, you know, we met with the city, we did all these things and did them in what we thought was the right way. I think that's where you're gonna see more for profit developers getting in to the space, and some simply are just gonna want to get into it because of the opportunity to make money. 5.0 13 Reviews. I really appreciate it. At the end of 2019, TPG expanded the effort to focus on race and ethnicity and sexual orientation. WebLANDSPIRE GROUP, LLC in Irvine, CA | Company Info & Reviews Company Information Sponsored Links Company Contacts JOSH CHILDRESS Chief Executive Officer 2082 Michelson Dr. Suite 219 Irvine, CA 92612 JOSH CHILDRESS Manager 2082 Michelson Dr. Suite 219 Irvine, CA 92612 Reviews Write Review There are no reviews yet for this Justin Nunez, a Business Unit Partner in TPG Public Equity Partners, and Liz Stiverson, a Principal and Chief of Staff in TPGs Executive Office, will oversee the day-to-day management of the initiative in partnership with a group of executive sponsors, including Winkelried, Jim Coulter, Kelvin Davis, and Anilu Vazquez-Ubarri. Are you in it to change lives, you're in it to transform communities? Alexis, the work that you're doing over at BRIDGE is all about preserving historic communities. We are proud to be a part of TPG NEXT, a new initiative providing growth capital and operating resources to seed, support, and scale the next generation of diverse investors and entrepreneurs. And, you know, RevOZ is committed to that, Landspire is committed to that, so, by and large, the two groups and our synergies and our overall outlook on this program create, I think, some great opportunities to invest in drive in areas that really need it. This event is the inaugural event for future initiatives supporting Black men in business and is designed to provide men with the resources and networks needed to be successful in business and beyond. Great to dive in today. And I wanted to have something tangible that I can pass down to my children, and creating businesses, investing in real estate, things of that sort are those types of assets. Subscribe to our Opportunity Zone newsletter. And then now all of a sudden values are going up. 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