Global Real Estate Dealmakers
Global Real Estate Dealmakers
Ep. 18 Firuz Soyuer - Istanbul, Turkey
Few people are as well versed in Turkish real estate as Firuz Soyuer. Having spent nearly three decades growing his Istanbul-based commercial and residential real estate advisory firm, he joins Global Real Estate Dealmakers to elaborate on the extent to which institutional and private real estate investors have proliferated in the country. Firuz also provides insightful commentary on the economy’s reaction to COVID-19 and the domestic challenges that lie ahead.
Not only did Firuz earn his bachelor’s degree in engineering from Istanbul Technical University, but he also completed his MBA in finance at Southern Illinois University. He is a Capital Markets Board Certified Appraiser, MRICS and MAI certified professional, and member of the Urban Land Institute Board of Advisors.
Pamir & Soyuer was established in 1993 by Ali Pamir and Firuz Soyuer to provide real estate advisory services to corporate clients and high net worth individuals. Expertise includes investment advisory and sales, development advisory, project marketing, tenant representation, agency representation, marketing/feasibility studies, and valuation.
00:45- Firuz Soyuer Introduction
04:18 – CAREER FOUNDATIONS: The Ascent of a Dealmaker
07:45 – Engineering to Banking to Real Estate
09:28 – Entry into Real Estate Advisory Services
12:40 – Turkish Commercial Real Estate in the 1990s
14:50 – Institutionalization of Commercial Market
16:29 – MAKING THE MARKET: A Research Perspective
17:55 – Real Estate Market in Turkey and Istanbul
20:00 – Shopping Centers vs. Office & Industrial
21:42 – Real Estate Finance in Turkey
24:32 – Spec Development
26:36 – Real Estate Landscape in Early 2020
29:34 – COVID Restrictions in Istanbul
30:19 – Switch to Remote Work
31:17 – Government Support During Pandemic
32:52 – Landlord vs. Tenant Dynamic
34:00 – Current Transactional Volume
35:10 – Active Market Participants
35:57 – Existence of Multifamily Product
37:37 – POLITICIANS AND ATTORNEYS – Red Tape and Bureaucracy
38:00 – Transparency of Legal Structure
39:40 – Importance of Local Investment Partner
40:44 – Title Insurance
41:42 – Underwriting Standards
42:41 – Turkish Property Taxes
43:55 – Entitlement & Permitting Process
47:33 – FINANCE AND FORMULAS: The Economics Behind the Deal
48:47 – Institutional vs. Private Investors
51:45 – Determination of Offer Price
55:42 – Importance of Knowing the Buyer Profile
57:05 –INVESTMENT COMMITTEE Q&A: Real Estate Entrepreneurship
57:46 – Young Turkish Entrepreneurs
1:01:07 – Funding for New Real Estate Ventures
1:02:38 – 15-Minute City
1:05:15 – TOURIST IN YOUR OWN TOWN
1:05:30 – How to Spend 3 Days As a Tourist
1:07:59 – European vs. Asian Side of Istanbul
1:10:48 – Advice for First Time Visitor
Additional Links
Email: fs@pamirsoyuer.com.tr
Linkedin: https://www.linkedin.com/in/firuzsoyuer/
Pamir & Soyuer Website: https://pamirsoyuer.com.tr/en/