12C — August 28 - September 10, 2020 — 40 Under 40 — M id A tlantic Real Estate Journal


40 U nder 40 Jared Cobert, Diligence Capital Advisors

“Success is never owned, it is rented, and the rent is due every single day”


reasons: 1. My tics are less distracting to people once they know why they are oc- curring and, 2. Most people tend to be more willing to engage with someone who is willing to admit something personal at the onset of a meeting. What was themost defin - ing moment for you? When our deal tracker had to grow to two pages because we had too many deals to fit on one page. I look back to this moment as a point in time when I became con- vinced of the long-term viabil- ity of our company. We had arrived. There was no turning back at this point. The busi- ness plan had worked and it was now time to dive further in and work harder than ever before to keep it moving in the right direction. Who do you feel was most influential in your life when choosing this profession? My partner, Joseph D. Rocco. He forced me to start this com- pany, because he believed in my ability, in my drive and in my unyielding hunger to be successful. What is the funniest, most unique situation you have faced/conquered during your career? Or in your life? – Again, dealing with To- urette’s Syndrome. Everyone has something they need to overcome, whether it be a physical ailment, trying life circumstances or both. We have two choices: 1. We can let these sources of adversity weigh us down and blame them and other people for our misfortunes or, 2. We can put in the work and figure out ways to succeed in spite of these issues. I chose the latter. What outside activities do you enjoy during you free time? I love cycling and playing paddleball on the beach/ocean in Ventnor, Margate and Longport, NJ. What inspiring word of advice would you give to a young executive gradu- ating from college today? Give 100% all the time. 80% is not enough. Neither is 90%. It takes 100% effort to get ahead and achieve sustain- able and everlasting success. Success is never owned, it is rented, and the rent is due every single day. MAREJ

you are constantly figuring out where all the different slices of money fit to make the deal work. Except the pieces need to fall into place MUCH FASTER than they actually fall down your screen in the game. What were some of your early goals and did any- thing happen to change them? I wanted to keep the com- pany as boutique as possible, just a two person shop for as long as possible. But as we grew and our client-base multiplied, it became impos- sible to keep the company at only two people. So, in 2019, we started making hires, from interns to middle manage- ment and, most recently, at the senior/partner level, but we will always be a boutique shop. Initially, I thought that making hiring decisions would be the most stressful part of running a business. And I was right, until it be- came time to manage those people. For me, nothing is more difficult than that. What unique qualities and or personality do you feel makes you most suc- cessful in your profession? I am a relentless warrior. I wake up every morning and put my shield on, grab my sword and go to battle. Every single morning, including weekends. I have no “off” button. Check my references on that. What challenges and or obstacles do you feel you needed to overcome to be- come as successful as you are today? I have Tourettes Syndrome. I have had it for as long as I can remember. In my early years, I viewed it as a road- block, an almost insurmount- able obstacle. Even during college, I remember prepar- ing for internship interviews and wondering how anyone would get past my disorder and see the “real me.” But as I became more secure in my own skin, I started to think of my Tourettes Syndrome as a positive, almost as a reason to learn more about me. I began to embrace it. Today, instead of hiding behind it and hoping people don’t notice, I start every single in-person meeting by divulging it, almost proudly at this point. I do this for two

hat is your great- est profession- al accomplish-

Jared Cobert Partner Years with company/firm: 2 Years in field: 10 Years in real estate industry: 10 Real estate organizations/ affiliations: Jewish Federation of Real Estate, DCBIA

ment? Starting Diligence Capital Advisors, building it from complete scratch into a com- pany helping some of the region’s prolific investors and developers raise capital for their real estate projects. When we started the com- pany, there was one deal in the pipeline: a small, devel- opment deal that our client wasn’t even sure we could successfully raise debt for. I worked that deal like it would be the last transaction I would ever be a part of. In the end, we closed with fa- vorable terms and our client was thrilled with the level of service we provided. We used this small but success- ful project to gain the trust of what would become one of our largest clients. Moreover, this client spoke to its positive ex- perience with us and referred many more clients to us. We have continued to depend on this business model: Work tirelessly for the client, earn the opportunities to work for people in that client’s net- work, rinse and repeat and ALWAYS PERFORM. What is your most nota- ble project, deal or trans- action? I worked on a 2-year long, $50 million debt raise for multiple assets along the Schuylkill Riverfront in Con- shohocken, PA. The location of the assets were great, but the deal itself was incredibly challenging for many [confi - dential] reasons. In the end, this deal proved to me that you can never give up and you must ALWAYS persevere through deal fatigue. We worked with over 28 lenders before finally finding someone who would do this deal when mostly every lender was a hard NO. This may not be the biggest sized deal (in terms of dollars) that I ever worked on, but it remains a deal I look back on for inspiration when dealing with trying circum- stances in the present day. How do you contribute to your company and / or the industry? I wake up every day and I strategize. I look at our list of projects, and the sub-lists of deliverables within each project. I think about what

is working and what needs improvement and I shape my day around ways to improve. I am also a huge proponent of sharing market information, to the extent appropriate. I constantly interact with professionals in many seg- ments of the industry, even, at times, with competitors. The end-goal is to have as many friends in the industry as possible and to never ever burn any bridges. Who or what has been the strongest influence in your career? Joseph D. Rocco, my part- ner and mentor. Joe Rocco is a seasoned, battled tested and well–respected commer- cial real estate attorney who has been through it all. He is also a master mind strategist who sees seven chess moves ahead. Joe trained me and constantly challenges me to think differently and strategi- cally. When I told him that I was considering going to work for a large brokerage in late 2018, Joe quickly shot that idea down and said, “you are starting your own business, and I will help you”. We had worked together in various capacities for many years so it was a natural fit. In the end it proved to be the right decision. What impact has social media/networking had on your career? Linkedin is the greatest free social media/networking tool on the planet. I almost feel like I am stealing when I profit from it. We have all sorts of expenses each month: rent, proprietary software, employees and office supplies but we pay NOTHING for a tool that drives countless deals our way. Many people only post content on Linkedin and other social media plat- forms when something good

happens or when they are in good spirits. The best way to use these platforms is to post frequently, no matter what might be going on. People are engaged and inspired by brutal honesty, by the good, the bad and the ugly. After all, the end goal of these platforms, within a business context, is to connect with as many people as possible and drive business. Tell us how and when you began your career in the profession you are in, about your current posi- tion and why you choose the field/profession you are in today? Sometime during 2017, I realized I had a pretty firm grasp on the main ingredi- ents of a real estate deal; you need sound deal economics, reliable sources of capital and proper management/spon- sors. I knew enough people who could assess the econom- ics of a deal and could execute. I just needed to bridge the gap by being able to bring the right capital to the right types of deals. I had done it countless times over the years while working for various in- vestors and developers, just never under my own flag. So in 2018 we launched Diligence Capital Advisors. I love working in the capital placement field because, to do it successfully, you have to understand every single element of the deal: the lo- cation/submarket, the deal economics, the sponsorship and macroeconomic climate. This is true when it comes to placing debt and, arguably, even more true when placing equity, which is typically the most difficult portion of the capital stack. Successfully raising capital for commercial real estate is sort of like play- ing an intense game of Tetris;

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