On this episode of Real Estate for Breakfast, host Phil Coover and his co-host Jay Augustyn chat with Brett Holmes and Andrew Dealy, co-founders and managing partners of Steel City Management (SCM), a Chicago-based boutique investment company that develops and manages real estate projects for high net worth individuals and institutional investors. Founded in 2015, SCM identifies innovate investment opportunities that generate sustainable, risk-adjusted return for its investors.

On the podcast, Brett and Andrew discuss their backgrounds and initial forays into real estate investment, sharing lessons learned from hands-on ownership and management of multi-family assets in Chicago. Brett and Andrew then describe the evolution of SCM’s capital deployment strategy, focusing on investments in single-family residential rental community development. The single-family residential rental product is increasingly popular with individuals and families across generations who increasingly value flexibility but demand high-quality living spaces and amenities typically associated with home ownership. Brett and Andrew describe in detail the successes earned and challenges overcome with their most recent single-family residential rental investments in the suburbs of Minneapolis, MN and Nashville, TN. They also share their outlook for the future of single-family residential rental development and those markets that are ripe for that product.

Brett Holmes has more than 13 years of real estate investment experience. His investment experience includes luxury rehab, value-add multifamily, ground-up single family rental and multifamily development. Brett’s skills include real estate financial modeling, deal structuring, equity syndications, investor relations and capital raising. Brett also has a decade of interest rate futures trading experience at the Chicago Mercantile Exchange and Board of Trade, where he specialized in financial modeling, trade execution, and portfolio risk management.

Brett volunteers as a Board Member of Autism Speaks to Young Professionals in Chicago. He earned a B.S. in Business Administration from Carnegie Mellon University where he played varsity soccer. He also completed the Commercial Real Estate Investment Course at MIT’s School of Architecture & Planning.

Andrew Dealy has more than 12 years of real estate investment experience. This experience includes value-add multifamily contracting, single family rental development, deal initiation, property management, investor relations and capital raising. Andrew has nine years of securities trading experience on trading desks and in the open outcry markets at the Chicago Board of Trade (CBOT) and Chicago Board Options Exchange (CBOE), specializing in trade execution, deal flow, and portfolio risk management.

Andrew holds a B.A. in Political Science from Yale University where he played varsity soccer.

Learn more about Steel City Management: www.steelcitymgmt.com/.