Wayne Courreges III, Managing Principal at CREI Partners, shares a wealth of knowledge on mastering risk and maximizing returns in commercial real estate development. From leveraging seller financing to building relationships with municipalities, Wayne reveals how to navigate zoning challenges, evaluate investment risks, and structure deals that attract and retain investors. With $50 million in assets under management and a portfolio spanning multifamily, self-storage, and build-to-rent communities, Wayne’s insights offer a roadmap for success in real estate development.

Guest Bio

Wayne Courreges III is the Managing Principal of CREI Partners, a firm dedicated to helping investors diversify into commercial real estate. Specializing in multifamily, self-storage, and build-to-rent developments, Wayne brings over 16 years of experience at CBRE to his leadership role. Based in Bryan-College Station, Texas, Wayne is known for his strategic approach to real estate investment, with $50 million in assets under management and a hands-on commitment to every project.

Episode Highlights and Chapters

[00:02:00] From CBRE to CREI Partners

Wayne discusses his career journey, including his transition from 16 years at CBRE to managing CREI Partners and overseeing $50 million in assets.

[00:04:00] Understanding Risk and Investor Profiles

Wayne delves into the risk factors of new developments versus existing properties and how he aligns opportunities with investor preferences for cash flow or equity growth.

[00:09:00] Deal Structures and Target Returns

Explore CREI’s approach to structuring investments, offering 7–10% cash-on-cash returns and targeting 15% IRR for existing properties and 20–25% IRR for developments.

[00:14:00] Reducing Risk Through Zoning Expertise

Wayne explains how he mitigates risk by handling zoning and entitlement work before raising equity, leveraging seller financing, and focusing on local markets like Bryan-College Station.

[00:23:00] The Power of Relationships

From working with city councils to engaging with HOAs and community members, Wayne highlights the importance of building trust and addressing concerns to ensure project success.

[00:27:00] Leadership in Development

Wayne emphasizes the role of developers as leaders, balancing delegation with hands-on involvement in critical aspects of a project, such as stakeholder engagement and team coordination.

[00:30:00] Advice for Investors and Developers

Wayne offers actionable advice for passive investors and active developers, stressing the value of education, showing up, and fostering meaningful connections.

Contact Information

To learn more about Wayne Courreges III and CREI Partners:

• Visit CREI Partners

• Connect with Wayne on LinkedIn: Wayne Courreges III

• Explore free educational resources at Passive Investor Coaching

For more expert insights into real estate development, visit https://giscompanies.co/podcast/.