David Adelman — CEO of Campus Apartments and Vice Chairman of FS Investments
Release Date: 09/04/2019
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info_outlineDavid Adelman is the CEO of Campus Apartments, and Vice Chairman of FS Investments. David’s family friend, Alan Horowitz, founded Campus Apartments in the 1960s, and when David graduated from Ohio State University, he joined Alan and quickly became the CEO at only 25. David formed the first public-private partnership in the country with the University of Pennsylvania, a model replicated by many other schools nationwide. Mr. Adelman has parlayed his success into Darco Capital, his family office that invests in early stage companies.
Key Takeaways:
[1:19] Kevin introduces his guest for this episode — David Adelman.
[4:07] Kevin does a speed round with David.
[7:05] Kevin and David discuss the inception of Campus Apartments. What did it look like when Alan first started it, and then when David took the helm?
[12:45] How did David pioneer the establishment of the country's first public-private partnership with the University of Pennsylvania in the 1990s?
[14:24] David shares more about his relationship with Alan and how that benefited him in his entrepreneurial journey.
[17:37] In 2006, things started heating up in the real estate space, yet David did not want to take his company public. What was his mindset in that decision-making process?
[19:24] Why did Singapore have an interest in student housing that led them to invest in Campus Apartments? Kevin and David discuss some of the other investors in this space.
[21:37] One of the people on David's leadership team for a long time is Dan Bernstein. What are his strengths and how do Dan and David complement one another?
[23:05] David dives into CCHP and how he raised $400 million, and how he's continuing to raise capital in this space.
[26:29] What are some of David's favorite projects that he's working on right now?
[29:17] What does David see as the greatest opportunities and challenges in the student housing industry?
[30:28] What is the culture at Campus Apartments and how has David been able to keep that culture as he's grown?
[31:42] What was the background story of how David got started with Franklin Square Investments?
[33:46] What was David's first offering, and why?
[35:51] What was growth like for FS in the past ten years?
[39:27] Michael Forman is a crucial part of David's team at FS. What does David admire about Michael, and how has he been influential in growing the business?
[42:13] What advice does David have now for his younger self?
[42:26] David's entrepreneurial journey seems very easy from the outside. He reveals some of the challenges he has encountered.
[45:24] When you deal with business in an industry that is highly regulated, you always have to see how regulation can affect your business.
[46:20] Darco Capital is the family office investment vehicle for David. What are some of the companies he is investing in? How did this come about and where does David see it going?
[51:58] How does the pre-revenue vs post-revenue status of a company factor in David's decision process to invest?
[54:49] David and Kevin discuss some of his investments different companies.
[59:00] Which of David's investments does he feel the most excited by?
[1:00:45] David's latest venture is a fintech company. He explains more about what it is.
[1:03:10] What does David love about the Philadelphia region, and what would he change if he were mayor?
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