David Ebrahimzadeh, President of Corniche Capital, is a private equity and real estate investor. His company is involved with taking controlling stakes in struggling companies and helping new companies grow.
Corniche’s real estate holdings are primarily in the multifamily and office sectors. The company is also focused on investing in properties in foreign countries.
Through its international real estate portfolio, Corniche Capital is able to create profits through in-depth knowledge of the market. Ebrahimzadeh has a great many contacts around the world who can vet investments for him and let him know which ones would be worth the effort.
Private equity firms often have to be ready to take a floundering company and turn it around. They provide an injection of cash into the business while at the same time taking some control of the company. Ideally, the process works out for both parties, with both making a profit. Sometimes an underperforming investment needs to be sold.
David Ebrahimzadeh is a prominent figure in the real estate and private equity fields. Combining these two types of expertise, he is able to run Corniche Capital as a profitable business.
What was your best/favorite subject in school?
My best subject in school was math, but my favorite subject was art. I also did very well in history and science. Initially, I thought of going to architecture school and using both of my top focus areas, but I decided to become a real estate investor instead. My parents were not necessarily happy that I chose this career, believing that I would lose my money. Eventually I proved to them that I knew what I was doing and could handle myself in the investment world.
What was your first job?
My first job was in a real estate finance company. It was a good place to work and get exposed to the key players in commercial real estate finance from debt to equity players, institutional and private.. I learned a lot about different deal structures and creative financing.
Where and how did you first get into the industry you currently work in?
I first got into the real estate industry twenty years ago. I was still in college and began looking at properties that I could get on the cheap and flip. I took the plunge and purchased a few pieces of real estate. Some I rented out, some I flipped. Once I made a successful sale, I had the bug and wanted to continue to invest in real estate.
How have those jobs prepared you for what you do now?
My first real estate job gave me a basic grounding in the business area and taught me some of the ins and outs of real estate investment and finance.
Describe the best day of work you’ve ever had.
The best day of work I have ever had would probably be when I stumbled upon a large development site that a bank was selling, which they foreclosed on. I agreed on a price and signed a contract within 30 minutes of finding the deal. I was able to purchase the site for less than 10 cents on the dollar, from what the bank has lent on it. But the true value was far greater than that even. I was able to secure a deal to sell 90% of the site to a public company right after signing the contract for 20 times what I paid while still keeping 10% of the site, which I ultimately got a NNN ground lease for, increasing my return even further.
How do you keep yourself motivated?
You might think that making money is my sole motivation, but I am also interested in beating my own personal best. I am curious and adventurous and always looking for new experiences. That is one of the reasons why I invest in foreign markets.
What kind of business ideas excite you most?
I am excited by new and varied business ideas. I think that companies have to set themselves apart from the crowd in some way, whether with excellent customer care or daring moves. I know that many people are averse to taking risks, but a business needs to take some risks in order to grow.
Have you ever tried any unorthodox techniques to attract attention to your business?
Not really, though I have been tempted in Europe. It took me a while to get used to the way that business is done abroad. It runs at a glacial pace compared to the United States or Canada. Companies that need my help are often mired in a complicated investment situation.
What personal achievement are you most proud of?
I am incredibly proud of my work with Corniche Capital. I have made a difference in the fortunes of many companies, and I have been able to grow my investment in real estate a great deal. I believe that my personal qualities of risk-taking and determination have encouraged my company to succeed.
What wisdom would you have liked to share with yourself when you first started out?
I would tell myself to be patient and not move forward quite so fast with my first few investments. I believe risk-taking is necessary, but I nearly lost all of my money. I had to learn how to make smart investments. Gradually, I was able to understand how investing works, and I was more successful when I took the time to do my research.