Real estate capital raising and syndication
Fireside Chat: $11B in Deals and Senior Housing With the Church
🔥 Fireside Chat | $11B in Deals | Family Office Insights & Housing Innovation
Family office principals, real estate sponsors and next generation members who want a practical look at one senior housing structure and one family's deal filters.
The short version
Patrick, a family office founder with about $11 billion in career transactions, describes a senior housing program built with the Catholic Church. Patrick describes a long-term ground lease arrangement with the church as part of the approach. Patrick says yield on cost is 13, compared with six or seven for typical apartments.
The fireside chat also covers how the family filters deals, why experience and integrity matter to partners, and tiny home manufacturing for affordable housing in Hawaii. Patrick closes with advice on talking to children about money early, before they are old enough to inherit it. Richard C. Wilson hosts the conversation at a Family Office Club event.
The 5 big lessons
- Judge people, process and product. Patrick looks at people first, then process and product. He says a deal fails without the right person, shared values, market understanding and a never die attitude.
- Stay on the original plan. Some junior entrepreneurs get distracted when things get tough and chase a shiny object in another vertical. Patrick says that is where investors get hurt and that founders should stay the course if they believe in the product.
- Land structure can lift yield. Patrick describes the senior housing project as built on a long-term ground lease with the church. He cites a 13% yield on cost against six or seven percent for typical apartments, and results will vary by deal.
- Use clear criteria to say no. After early years of chasing every deal, the family narrowed to real estate, finance and tech. Deals must be organized, proprietary, protective, scalable, uncommon and a fit with the family's ecosystem.
- Show experience, integrity and humility. Patrick wants partners with 10 or 20 years in their business. He says a plan built only around a quick exit is a terrible business plan.
Quotes from the session
"Integrity is number one. I mean, you've got to have experience to know what you're doing."
"You've got to stay focused and stay grinding. If you believe in the product and believe in what you're trying to invest in and what you're trying to do, stay the course."
"Talk to your kids early about financial matters."
Facts from this talk
- Patrick reports about $11 billion in transactions across almost 25 years in commercial real estate and finance.
- The family has made about 40 commercial real estate investments and about 20 PE and VC opportunities.
- The Phoenix senior housing waiting list reached 2,000 people for five planned facilities, from 2.1 million Catholics in the diocese.
Sources
From Richard C. Wilson's Centimillionaire Strategies YouTube channel: 🔥 Fireside Chat | $11B in Deals | Family Office Insights & Housing Innovation. Quotes come from the video captions, lightly edited for readability. Figures are the speakers' own estimates and experience.
General education only. Not legal, tax or investment advice.
Talk to a securities attorney to explore options around ground lease structuring, fund formation and offering documents. Do not use AI to write your own legal agreements.
Related questions
- How do I raise capital for a hotel purchase?Many hotel buyers fund the equity through joint ventures with family offices and wealthy individuals, then add debt on top.
- How do I find passive investors for syndication deals?Start by putting out useful content so passive investors come to you, then double down on what gets the strongest response.
- How can I raise capital for land development?To raise capital for land development, I start with the structure.
Questions about this video
How is the senior housing project structured?
Patrick describes it as built on Catholic Church land under a long-term ground lease. Patrick says 10% of NOI goes to the parish.
What does Patrick look for in a deal?
He looks at people, process and product, with people first. He also wants proprietary, protective, scalable opportunities that fit the family's real estate, finance and tech ecosystem.
When should parents talk to their children about money?
Patrick says to start early. He disagrees with advice to wait until children are 21 or 22 and says financial acumen should be taught young so they understand the value of money.
Put this into practice with the family office fit check. See all real estate capital raising and syndication resources.
