Benchmarking Against The Best In Class
Welcome to the world of real estate investing. I’m your host, Victor Menasce. The team at FeedSpot just published their list of 100 Best Real Estate Podcasts for 2025. I’m honoured to be ranked number 13 on that list of the 100 best podcasts in real estate. If you appreciate what you’re hearing on the podcast, then tell two friends today. Show them how easy it is to subscribe to the show. It amazes me that some very sophisticated investors still don’t know how to find a podcast on Apple podcasts, Spotify, or any other of the 20 platforms out there that carry the show. Share the knowledge, spread the love, and tell two friends today.
On today’s show, we’re talking about benchmarking your organization against the best in class in your industry. When you’re looking to grow and mature as a company, it’s often helpful to examine how the industry’s best companies conduct their operations and benchmark against them. If you’re a specialist in value-add apartments, you might use Greystar or MC Companies as the benchmark. If you operate in the world of residential assisted living, you might consider the Sage Oak as your benchmark. If you’re in construction, specifically single-family homes, you could adopt Polte Homes or Lenar as benchmarks. And if you’re in storage, then examining businesses like Public Storage would be helpful.
We are a development company with multiple projects involving land development. So who would we look up to as an example of a company that does it well? A few names come to mind. The Irvine Corporation, which transformed Irvine Ranch into the modern-day city of Irvine, is a great example. However, that was a singular, colossal 90,000-acre project that became adept at manoeuvring in a single regulatory environment.
Our company operates in nine states across the US and two provinces in Canada. We would want to look at companies that are proficient in multiple jurisdictions. Howard Hughes Holdings fits this bill. They are very active in master planned communities and develop large-scale communities in strategic locations near major economic hubs. The communities are designed to be desirable places to live, with a focus on creating vibrant residential, commercial, and retail environments. They manage and operate commercial properties within these communities, including offices, retail, and multifamily units, an approach that helps them boost the land’s value, attract businesses, and enhance community appeal. They concentrate on growing their asset value over time using strategies like debt management and strategic asset sales for optimal returns.
Howard Hughes operates in several states, including Texas, Arizona, Hawaii, Nevada, and Maryland. Their long-term strategy involves continually developing and managing their properties to maximize their value. Their best-known projects include the Woodlands in Texas, where their headquarters are, covering a lush 28,000 acres and housing about 120,000 residents. This community prides itself on its sustainable practices, high quality of life, and has seen several major companies, including Exxon Mobil, move in.
Another example is Summerlin, Nevada. This vibrant community, spread across 22,500 acres and hosts around 123,000 residents. Known for its views of Red Rock Canyon and a wide variety of amenities, it consistently ranks among the nation’s top-selling master planned communities.
Unfortunately, many suburban projects focus solely on residential units, leading to bedroom communities lacking in employment opportunities except for a few retail stores, compelling everyone to commute long distances to work. Recognizing this flaw, Howard Hughes Corporation partnered with Discovery Land Company for the development of the Summerlin Project in 2014, a long-term project that has shown significant progress in a relatively short period of time. It is indeed a benchmark that we consider when identifying companies performing well in this field. As you think about that, have an awesome rest of your day. Accomplish great things, and we’ll talk to you again tomorrow.
Stay connected and discover more about my work in real estate by visiting and following me on various platforms:
Real Estate Espresso Podcast:
- 🎧 Spotify: The Real Estate Espresso Podcast
- 🌐 Website: www.victorjm.com
- 💼 LinkedIn: Victor Menasce
- 📺 YouTube: The Real Estate Espresso Podcast
- 📘 Facebook: www.facebook.com/realestateespresso
- 📧 Email: [email protected]
Y Street Capital:
- 🌐 Website: www.ystreetcapital.com
- 📘 Facebook: www.facebook.com/YStreetCapital
- 📸 Instagram: @ystreetcapital
