'There's unbelievable demand for medical space'
Q: Describe your company.
A: Alliance is a privately held real estate investment firm that I founded in 1995. We specialize in medical properties - specifically, those with a net lease structure where the tenant pays most or all of the taxes, fees and maintenance costs on the property, in addition to rent. Our portfolio of assets ranges all over the United States, including Illinois, Florida, Texas and elsewhere, all of which are operated by our in-house management team.
Q: Do you plan to hire any additional staff or make any significant capital investments in your company in the next year?
A: Absolutely. We recently hired a few people and are looking to fill roles in acquisitions, asset management, property management and other areas as we continue to expand.
Q: What will your company's main challenges be in the next year?
A: I think it's going to be the economy. If inflation keeps rising, the Fed is going to have to raise interest rates. This will effectively reduce the value of different commercial real estate asset classes.
Q: What's the hottest trend in your industry?
A: The hottest sector in commercial real estate is health care. Think about it: The human body is not going out of style. People everywhere will always need medical services, even more so as more boomers enter their senior years. It really is a recession-proof industry, as we've seen over the course of the pandemic. With so much competition out there among health care providers, there's unbelievable demand for medical space - especially off-campus, single-tenant properties located close to where people live and work.
Q: If you had one tip to give to a rookie executive, what would it be?
A: Be persistent and work on yourself. Become the best version of yourself that you can.
Q: Do you have a business mantra?
A: Tough times don't last - tough people do.
Q: From a business outlook, whom do you look up to?
A: Elon Musk. I admire his ingenuity, but I'm mostly drawn to his work ethic.
Q: What is one interesting fact about you or your company that most people may not know?
A: We always try to be one step ahead of trends. When we decided to focus on net-leased health care, people thought we were a little nuts to go in that direction. But 15 years later, it's evident that we made the right call.
Q: Was there a moment in your career that didn't go as you had planned? What lesson did you learn from it?
A: I had a business partner that wasn't on the same page as me and I realized it was going to be tough to succeed if those I work closely with don't share my values or work ethic. The lesson I learned from that is that no one in life will take you to where you want to be; only you can through your own perseverance.
Q: What do you like to do in your free time?
A: I like to work out, go on hikes and try out new restaurants.
Q: What book is on your nightstand?
A: The QRP Book: How to Get Checkbook Control of Your 401(k) Money Now by Damion Lupo. I think there are some great employee retention ideas in there that I plan to implement within our company.
Q: What keeps you up at night?
A: Over the last year the pandemic did because of all the uncertainty it caused. Before that it was closing deals, securing financing or wondering if people will do what they say they are going to do.
Q: If you were not doing this job, what do you think you would be doing?
A: I would be in mergers and acquisitions, acquiring companies.
Q: What was your first paying job?
A: Cigarette runner. When I was a kid, I used to buy cigarettes by the carton. I would break that up into individual packs and sell them at a nearby bar.
Q: If you could put your company name on a sports venue, which one would you choose?
A: The L.A. Coliseum. I have two boys who go to USC, and we do a lot of business in Los Angeles.
Q: Two people to follow on Twitter and why.
A: Elon Musk and Ed Mylett.
Ben Reinberg
Founder and CEO
Alliance Consolidated Group of Companies
2201 Waukegan Rd. Suite 120 Bannockburn, Illinois 60015
(847) 317-0800
Website: www.alliancecgc.com
Industry: Real estate investment
Number of employees: More than 10
Age: 51
Hometown: Highland Park