“I’m a big believer of the long-term growth of Silicon Valley.” ~ Tom Tognoli
In our latest webinar, Urban Catalyst Founder Erik Hayden sat down with co-founder of Intero Real Estate and Partner at 1Flourish, Tom Tognoli, to discuss why Silicon Valley – and the Urban Catalyst Fund in particular – is a smart investment regardless of today’s uncertain economy.
After more than 30 years in the industry, Tom has invaluable insight into the market. With Intero, he built the largest residential real estate sales company in Silicon Valley, which he sold to Berkshire Hathaway 2014. Tom is now a partner with the venture capital firm 1Flourish Capital. He also was an early investor in the Urban Catalyst Fund.
Watch our webinar here if you missed it live, or read the key takeaways below:
- Real estate is a solid, long-term investment. Tom explained that real estate assets are less likely to be negatively impacted by short-term economic ups and downs like we are experiencing today.
- The future of Silicon Valley office space: It’s not dead. Companies might need more space to provide more distance between desks and people. “It’s still about culture, about people, about relationships. And you can't create (that) remotely,” Tom noted.
- San Jose will recover quickly when the pandemic fades. San Jose is the linchpin that pulls together companies, workers, and resources from the East and South Bay. It’s a vital hub served by light rail, train, and other forms of mass transit. In fact, we recently shared the findings by Bloomberg and Moody’s that stated San Jose is one of the top cities in the country to bounce back quickly.
“I can’t think of a better place to put your capital,” Tom said about the region and the Urban Catalyst Fund in particular. He explained that he invested in the Urban Catalyst Opportunity Zone Fund not only for the federal capital gains tax benefits but also because he believes in Urban Catalyst’s ground-up projects and how they could appreciate and provide returns over the next 10 years. Tom described the experienced Urban Catalyst team as “second to none in the industry.”
Read more from Tom in his guest blog post, “Why I’m (Still) a Big Believer in Silicon Valley Real Estate.”
Did you know all our Opportunity Zone webinars are available on demand? Be sure to check them out, and as always, contact us if you’d like to learn more.
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