About this episode
John Azar breaks down today’s capital markets, why deals are failing, and how to raise money, communicate with investors, and scale a commercial real estate fund.In this episode of RealDealChat, Jack Hoss sits down with John Azar, founder of Peak 15 Capital, to discuss the real state of capital markets, the rise of distressed commercial assets, and what operators must do to survive today’s environment.John shares his origin story—from structured finance at Morgan Stanley to launching multiple companies, navigating the 2008 crisis, and ultimately raising and managing large funds. He explains the differences between today’s market and 2008, why liquidity isn’t the problem this time, and why underwriting is causing widespread defaults across multifamily and commercial assets.John also breaks down how to start raising capital, the difference between syndications and funds, where he’s seeing the best opportunities (including flex industrial and ground-up development), and why transparent communication is the #1 rule of investor relations.He also covers how he uses AI and automation to save time while still keeping the personal touch required in private equity.What You’ll LearnWhy defaults are rising in CRE (and why it’s NOT the properties)The biggest difference between 2008 and todayHow to start raising money the right waySyndication vs. fund structures—and when to use eachWhy flex industrial and development deals are trendingHow to spot distressed opportunities in today’s marketHow to scale from being the operator to being a fund managerThe crucial role of communication in investor trustHow AI tools save time but can’t replace relationshipsWhat Peak 15 Capital is investing in next📍 Learn more: Peak15Cap.com💡 Scale your REI business with AI: RealDealCrew.comTIMESTAMPS00:00 – Defaults rising: bad financing, not bad properties01:00 – John’s origin story in structured finance02:00 – Starting his first company & surviving 200803:00 – Launching syndications in the Southeast04:00 – Peak 15 Capital & becoming a fund manager05:00 – Today vs 2008: liquidity & debt differences06:30 – Where the real debt problems are now08:00 – How new investors should start raising capital09:30 – When to move from syndications to a fund10:30 – Best opportunities: development & flex industrial12:00 – Why multifamily underwriting is failing13:00 – Why flex industrial is outperforming14:00 – Scaling pains: teams, roles & internal change15:30 – The #
