Ian Ross, Founder & Managing Principal of SomeraRoad

Ian Ross, founder of SomeraRoad, discusses the firm's entrepreneurial grit and opportunistic investment philosophy. Ross traces his early exposure to privilege and the values his parents instilled, which fueled his entrepreneurial drive, from selling lemonade to syndicating limos. He highlights SomeraRoad's beginnings in distressed CMBS and its evolution into development, net-leased industrial, and aviation infrastructure. Ross emphasizes the importance of finding arbitrage, dislocation, and asymmetric risk profiles, exemplified by the firm's first deal in Kansas City and its expansion into Nashville. He also details SomeraRoad's strategic approach to aviation real estate, focusing on private jet hangers and the tax benefits of accelerated depreciation, and the partnership with Declaration around credit leased gas station properties.

Outlines

Part 1: Background, Early Career

Part 2: Founding SomeraRoad, Investment Philosophy

Part 3: Growth, Development, Regional Expansion

Part 4: Specialized Verticals, Aviation, Tax Strategy

Part 5: Future Outlook, Personal Reflections

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Declaration Partners

Part 1: Background, Early Career

SomeraRoad's Declaration: Entrepreneurial Grit, Hard Work, and Constant Learning

From Lemonade Stands to Real Estate: Ian Ross's Early Entrepreneurial Spirit

Navigating the 2008 Financial Crisis: CMBS, Jefferies, and Restructuring

Triangle Capital: Exploiting Arbitrage in Distressed CMBS Post-GFC

Part 2: Founding SomeraRoad, Investment Philosophy

From Tranche Warfare to SomeraRoad: The Drive to Lead and Raise Capital

SomeraRoad's First Deal: Kansas City Office Building Acquisition and Turnaround

SomeraRoad's Investment Philosophy: Arbitrage, Asymmetric Risk, and an Edge

Part 3: Growth, Development, Regional Expansion

Combining Debt Discipline with Development: SomeraRoad's Opportunistic Growth

Nashville as a Second Headquarters: Seizing Opportunities in a Growing Market

Redeveloping the Bossert Hotel: Adaptive Reuse in Brooklyn Heights

Part 4: Specialized Verticals, Aviation, Tax Strategy

SomeraRoad's Verticals: Opportunistic Investing, Development, and Aviation Infrastructure

Aviation Real Estate: Private Jet Hangers, FBOs, and Supply-Demand Fundamentals

Accelerated Depreciation in Aviation Real Estate: Land Improvements and Ground Leases

Credit Leased Gas Stations: Leveraging Bonus Depreciation for Long-Term Growth

Part 5: Future Outlook, Personal Reflections

SomeraRoad's Future: Continued Learning, Talent, and Opportunistic Investing

Family Life, Influential Books, and the Pursuit of Happiness

Closing Remarks and Gratitude

Ian Ross, Founder & Managing Principal of SomeraRoad

Declaration Partners

Part 1: Background, Early Career

00:00SomeraRoad's Declaration: Entrepreneurial Grit, Hard Work, and Constant Learning

SomeraRoad's Declaration: Entrepreneurial Grit, Hard Work, and Constant Learning

03:31From Lemonade Stands to Real Estate: Ian Ross's Early Entrepreneurial Spirit

From Lemonade Stands to Real Estate: Ian Ross's Early Entrepreneurial Spirit

07:12Navigating the 2008 Financial Crisis: CMBS, Jefferies, and Restructuring

Navigating the 2008 Financial Crisis: CMBS, Jefferies, and Restructuring

10:10Triangle Capital: Exploiting Arbitrage in Distressed CMBS Post-GFC

Triangle Capital: Exploiting Arbitrage in Distressed CMBS Post-GFC

Part 2: Founding SomeraRoad, Investment Philosophy

13:40From Tranche Warfare to SomeraRoad: The Drive to Lead and Raise Capital

From Tranche Warfare to SomeraRoad: The Drive to Lead and Raise Capital

16:34SomeraRoad's First Deal: Kansas City Office Building Acquisition and Turnaround

SomeraRoad's First Deal: Kansas City Office Building Acquisition and Turnaround

19:44SomeraRoad's Investment Philosophy: Arbitrage, Asymmetric Risk, and an Edge

SomeraRoad's Investment Philosophy: Arbitrage, Asymmetric Risk, and an Edge

Part 3: Growth, Development, Regional Expansion

23:05Combining Debt Discipline with Development: SomeraRoad's Opportunistic Growth

Combining Debt Discipline with Development: SomeraRoad's Opportunistic Growth

25:31Nashville as a Second Headquarters: Seizing Opportunities in a Growing Market

Nashville as a Second Headquarters: Seizing Opportunities in a Growing Market

27:50Redeveloping the Bossert Hotel: Adaptive Reuse in Brooklyn Heights

Redeveloping the Bossert Hotel: Adaptive Reuse in Brooklyn Heights

Part 4: Specialized Verticals, Aviation, Tax Strategy

29:40SomeraRoad's Verticals: Opportunistic Investing, Development, and Aviation Infrastructure

SomeraRoad's Verticals: Opportunistic Investing, Development, and Aviation Infrastructure

32:27Aviation Real Estate: Private Jet Hangers, FBOs, and Supply-Demand Fundamentals

Aviation Real Estate: Private Jet Hangers, FBOs, and Supply-Demand Fundamentals

35:11Accelerated Depreciation in Aviation Real Estate: Land Improvements and Ground Leases

Accelerated Depreciation in Aviation Real Estate: Land Improvements and Ground Leases

38:08Credit Leased Gas Stations: Leveraging Bonus Depreciation for Long-Term Growth

Credit Leased Gas Stations: Leveraging Bonus Depreciation for Long-Term Growth

Part 5: Future Outlook, Personal Reflections

42:06SomeraRoad's Future: Continued Learning, Talent, and Opportunistic Investing

SomeraRoad's Future: Continued Learning, Talent, and Opportunistic Investing

44:28Family Life, Influential Books, and the Pursuit of Happiness

Family Life, Influential Books, and the Pursuit of Happiness

47:33Closing Remarks and Gratitude

Closing Remarks and Gratitude