OwlTail

Cover image of Bob Murphy

Bob Murphy

44 Podcast Episodes

Latest 17 Sep 2021 | Updated Daily

Weekly hand curated podcast episodes for learning

Episode artwork

Bob Murphy- Energetic Leader (#50)

Icons of DC Area Real Estate

BioBob Murphy, Managing Principal of MRP Realty, has over 33 years of experience in commercial real estate operations, ownership and investment. He joined Trammell Crow Company (TCC) in 1987, managing the firm’s regional operations for many years as Principal. Bob’s last role with TCC was area president of the development and investment group in the Mid-Atlantic where Bob and his team completed $1.8B of investments totaling over 10 million square feet. He co-founded MRP Realty (MRP) in 2005, capitalizing on his in-depth knowledge of Mid-Atlantic real estate markets, extensive network of capital relationships, and his reputation as a collaborative and creative partner to drive the firm. Under Bob’s leadership, MRP has deployed nearly $6B of office, residential/mixed-use and industrial developments and acquisition investments with a current portfolio of 15 million square feet and an active pipeline totaling over 10 million square feet. He has actively participated in leadership roles at NAIOP and ULI and at various charitable activities during his career; currently serving on the board of Habitat for Humanity of Washington D.C. Bob received his B.S. in Civil Engineering from the University of Notre Dame; his M.B.A. in Finance at Columbia Business School; and was an officer in the United States Army.Show NotesRole today- Problems and Opportunity person. Working with partners on business strategy. Deal structuring is shared. (3:45)OriginsBorn in NYC (4:15)Moved to Wayne, PA at 6 yrs. oldDad big influence- Went to Fordham U. and worked at IBM subsequently (5:15)Did presentations for IBM and was one of top salespeople thereLeft in 1969 and went with a power plant company selling to the military and took the company public and became a CEO of a public company (6:00)Traveled considerablyMom went to college with young children at home over time (6:45)Dad advised him to be an engineering to have a quantitative understanding (7:45)EducationSmall town- Catholic grade school (9:00)HS- Archbishop Carroll in suburban Philadelphia (10:00)Attended Notre Dame and his Dad became a fan and several relatives have now attended (10:30)Picked Civil Engineering as a major (12:15)Army ROTC- helped pay for school ( 12:40)Commissioned in Army in 1982 in Europe (West Germany) (14:00)Honoring AmericaLearned about mutual respect in the military (15:45)Treat everyone respectfully- lesson learned (16:45)Offered a command to stay in Germany (17:15)Columbia MBA– Went there due to a referral from his rugby buddy (17:45)Did well on GMATs (21:15)Mature to go there (21:30)Another of his classmates (Chris Hoover) sent him a book about Trammell Crow Company (19:30)Career ArcTrammell Crow CompanyJoined Trammell Crow Company- Kevin Dougherty hired him (19:45)Chris Roth of Trammell Crow inspiring (22:45)Started in development and quickly was involved in transactions (23:30)Bob ran Mid-Atlantic for TCC (24:45)Joe Stettinius– Talented with people, wisdom for young guy (25:15)Good at picking peopleGood manager and broker (27:00)Projects (27:50)Mid 1990s very active-8-9 buildings in NOVA (28:00)Centennial ProjectsPrincipal was main partner in that era (29:00)Institutional partners and pension fund investments increased dramatically in late 80’s and surged again in the mid 1990s (29:20)TCC became more centralized when they went publicCrow Family stayed involved in partnerships (32:00)MRP RealtyFormation of MRP Realty (34:00)Ryan Wade came on as analyst to him at Crow (Co- Founding Partner)Fred Rothmeijer (Co- Founding Partner)Rick Sass joined (Co- Founding Partner)Zach WadeFocused on office originally (38:30)Did mixed use as well (39:00) Diversification of risk was done by product diversification (39:30)2012- first multifamily project (40:00)Matt RobinsonBuilt a team (John Begert, Kevin Schaar)Industrial entity- Dan Hudson who followed Bob at TCC then came on to run new industrial entity- MRP Industrial (41:00)Reid Townsend8M s.f. underwayStarted buying properties after 2008 crisis (44:15)Studied deliveries over supply (45:00)Angelo Gordon became a partner (46:00)Reid Liffman Washington Harbour– April 2010 with Rockpoint (47:00)Ice Rink added (48:15)Majority of office tenants stay there (49:00)Flood right after purchasing caused closing of much of retail (50:00)Renegotiated retail spacesRestaurant business challenges (51:15)When flood happened in 2011 half of company focused on WH to bring it back (53:00)50M gallons of water in the parking garage (54:00)Fixed flood gates with a fork lift (55:00)Rockpoint stayed at the table to help (56:45)Generators needed to bring tenants back inOne year to renovate the project (58:00)Sold the property with a $100M profit to a Korean Pension Funds through Principal (58:45)JIm HalliwellAlways in the buying market from the initial time (1:00:00)Office market has gotten more challenging in the DC market (1:00:30)Operator has to work hard to keep and attract tenants (1:01:20)MRP started Heyday– a special formatted office layout (1:01:45)Passport– a conference room business format (1:02:30)MakeOffices- They closed during the pandemic (1:03:45)Flexibility now offered allowing for higher rents (1:04:00)Co-working business they want to keep in house (1:05:00)Spontaneity is important for office users (1:07:30)Perfect office building- 50% long term leases with flexible space beyond this (1:08:45)Industrial is a separate entity (1:10:30)Dan Hudson and he were partners and so he gave them the latitude to run the business (1:11:15)Liberty Park at Dulles Tech and sold demolished buildings to residential projects (1:13:30)Residential (1:15:00)Believer in urban residential real estate (1:15:30)Affordability- Working on several affordable projects (1:16:00)Subsidized financing (1:17:00)Government programs limit potential (1:18:00)20% of portfolio is affordableMostly “mixed income” developmentThe Wren (1:19:30)Bryant Street project had 70 community meetings for support (1:22:30)Two Clients (1:23:00)TenantsCapital Partners- Institutional capitalUnderstand the property and the business planDecided not to go into the “fund business” to compete with institutional partners (1:25:00)Expansion geographically due to relationships (1:27:00)PhiladelphiaNew York- Found most deals off market (1:28:30)North Carolina MRP Realty corporate structure (1:29:00)No in house brokerage or constructionNot in apartment managementMerchant building in industrialGood internal conversation (1:31:00)Over $2B in projects underway now (1:32:00)Product type and geographical diversityComplete reliability on partners to manage their respective businesses- Office, Residential and Industrial (1:33:00)Pandemic (1:34:00)Good management team on officeResidential properties have performed well and especially recentlyCDC announcement triggered leasing activityRates have dropped thoughESG (1:38:00)Contribution in affordable housingLEED and air handling systemsFairly diverseTrends (1:40:30)Affordable housing trends continue- Timing slows it thoughFilter for new business (1:43:00)Good at balancing the risk return balanceStopped buying in 2006 through 2009Selective in DC for office nowApartment and Industrial returns low for new constructionLooking to longer term investments$900B looking at real estate investments (1:46:00)Risk mitigation (1:46:45)Pre-development management- construction documents and negotiationsTight numbersFlexible debtGood contingenciesAvoid going to documents to negotiate Dispute resolution (1:50:15)CollaborationNever get a deal done with “everything he wants” (1:50:45)Personal and Lessons LearnedPersonal (1:52:00)Family firstGiving back- Affordable housingWins- Washington Harbour the biggest (1:53:30) Sold “Mill Road” project in 2008 prior to crisis (1:55:30)Losses- No losses during the recession, but needed to renegotiate a few loans Got ahead of themselves on valuations and the MakeOffice business (1:54:00)Surprises- MRP Industrial investment (1:55:00)Advice for 25 yr. old self- Learn your craft and read international news to its local impact (1:56:00)What did I want?- A place to go to work and wants opportunityKeep learning and keeps company valuesTed Lasso sign- “Believe” (1:57:30)PostscriptColin MaddenTed Lasso show- Yogi Berra like characterMeridian Company sign“The Team, The Team, The Team”Iconic Journey community referenceEmployment cultureMaslow Needs- Hiring has reached the top of the Hierarchy of NeedsHow to give back to employees is the right question today to hireLandlord more involved with tenants’ workersLearn your craft and understand the root of a problemFlexibility is critical today due to continual disruption More diverse uses of office space and adapting businessesIconic Journey of CRE– Mid September rolloutContact John Coe at john@coeenterprises.comMultidisciplinary Approach to IndustrySimilar EpisodesRay RitcheyOliver CarrDoug Firstenberg

2hr 17mins

31 Aug 2021

Episode artwork

Bob Murphy

Messy Christianity

35mins

19 Aug 2021

Similar People

Episode artwork

WiM037 – The Power of Choice with Bob Murphy

The "What is Money?" Show

Boby Murphy joins me for a deep conversation about the principles of economics.Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/GUESTBob’s twitter: https://twitter.com/BobMurphyEconBob’s show: https://www.bobmurphyshow.com/Bob’s book “Choice”: https://www.amazon.com/Choice-Cooperation-Enterprise-Human-Action/dp/1598132180 CHANNELPodcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1RSS Feed: https://feeds.simplecast.com/MLdpYXYITranscript:EPISODE00:00:00 “What is Money?” Intro00:00:05 NYDIG00:01:22 “Choice”: A Complement to “Human Action”00:06:55 How Economics differs from Natural Sciences00:13:14 Economics vs. Economic History00:16:04 Empiricism vs. Rationalism00:24:19 Praxeology: The Science of Human Action00:35:30 Teleology: The Study of Purpose00:41:07 Actor Preferences and Value00:48:22 The Inequality of Exchange00:53:48 The ‘Water and Diamonds Paradox’01:02:06 “On the Origin of Money”01:09:42 Apriori, Aposteriori, Apodictic01:17:51 Ideologies and Public Opinion01:23:06 Dispelling False Doctrines01:30:44 Political Polarization and Fiat Currency01:34:19 “The End of Western Civilization”01:36:39 Bitcoin and the Restoration of Civilization01:43:47 Economics that Makes SenseSOCIALBreedlove Twitter: https://twitter.com/Breedlove22WiM? Twitter: https://twitter.com/WhatisMoneyShowLinkedIn: https://www.linkedin.com/in/breedlove22/Instagram: https://www.instagram.com/breedlove_22/TikTok: https://www.tiktok.com/@breedlove22?lang=enAll My Current Work: https://linktr.ee/breedlove22​WRITTEN WORKMedium: https://breedlove22.medium.com/Substack: https://breedlove22.substack.com/WAYS TO CONTRIBUTEBitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Sats via Strike: https://strike.me/breedlove22Sats via Tippin.me: https://tippin.me/@Breedlove22Dollars via Paypal: https://www.paypal.com/paypalme/RBreedloveDollars via Venmo: https://venmo.com/code?user_id=1784359925317632528The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=trueBUSINESSES I LIKE:Automatic Recurring Bitcoin Buying: https://www.swanbitcoin.com/breedlove/Use Discount Code "Breedlove" for Bitcoin Custody w/ Casa: https://keys.casa/#plansBuy Bitcoin in a Retirement Account w/ DAIM: https://daimio.typeform.com/to/oU5OHXMZWorldclass Bitcoin Financial Services: https://nydig.com/

1hr 52mins

17 Aug 2021

Episode artwork

Jeff Herbener and Bob Murphy Discuss the Pure Time Preference Theory of Interest

Interviews

Jeff Herbener is a Senior Fellow with the Mises Institute and an economics professor at Grove City College. At the 2021 Austrian Economics Research Conference, Jeff presented a defense of the pure time preference theory of interest, and mentioned Bob’s critique of it. This episode is a very informative discussion of their views.Mentioned in the Episode and Other Links of Interest:The YouTube version of this lecture (which has the PowerPoint slides)Jeff Herbener lecture on interest at Mises UniversityBMS ep. 198 (which provides context for this discussion)BMS ep. 119 with Guido Hulsmann (who also tries to replace the Pure Time Preference Theory)Bob’s dissertation (which is technical) on Austrian capital theoryBob’s article (for the lay person) explaining BB’s critique of the naïve productivity theoryAn intermediate difficulty paper, in which Bob explains problems with viewing interest as “present goods are more valuable than future goods”Bob’s 3-part series (one, two, three) on Capital and Interest in the Austrian tradition​For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on Apple Podcasts, Stitcher, Spotify, and via RSS.

11 May 2021

Most Popular

Episode artwork

Bob Murphy (Freedom Principles, MMT, Free Banking, Inflation Prediction, Future Social Unrest)

The Rebel Capitalist Show

✅ LYN ALDEN and I discuss portfolio that will HELP YOU profit from DOLLAR losing reserve currency status, click this link to check it out!! 🔥 https://www.georgegammon.com/portfolio  ✅ Get your tickets to Rebel Capitalist Live before they're sold out! I'll see YOU in Miami!! ;) https://www.rebelcapitalistlive.com

1hr 10mins

10 May 2021

Episode artwork

Bob Murphy on Rothbard's <em>What Has Government Done to Our Money?</em>

The Human Action Podcast

Rothbard called Mises's The Theory of Money and Credit "the best book on money ever written." But Rothbard himself may have written the best money book for lay readers, namely What Has Government Done to Our Money?  Bob Murphy joins the show to discuss this superb and eminently readable tract: a mini-course on money itself, from its origins and uses to its degradation by kings, politicians, and central bankers. In only 119 short pages, Rothbard gives us everything we need to know about this most critical commodity in society—along with the ruinous development of fully fiat (unbacked) state money. Readers also enjoy a brilliant history of money regimes, from early barter to the classical gold standard and the ultimate collapse of the Bretton Woods agreement. Read this fantastic book for free in HTML format: Mises.org/WHGD Bob Murphy's series, "Understanding Money Mechanics": Mises.org/MM Bob Murphy interviews Fed economist David Andolfatto on the devaluation of money, among other topics: Mises.org/BMS175 Hans-Hermann Hoppe reconsiders Hutt's seminal article, "The Yield from Money Held": Mises.org/HoppeHutt

30 Apr 2021

Episode artwork

Bob Murphy on Rothbard's <em>What Has Government Done to Our Money?</em>

Interviews

Rothbard called Mises's The Theory of Money and Credit "the best book on money ever written." But Rothbard himself may have written the best money book for lay readers, namely What Has Government Done to Our Money?  Bob Murphy joins the show to discuss this superb and eminently readable tract: a mini-course on money itself, from its origins and uses to its degradation by kings, politicians, and central bankers. In only 119 short pages, Rothbard gives us everything we need to know about this most critical commodity in society—along with the ruinous development of fully fiat (unbacked) state money. Readers also enjoy a brilliant history of money regimes, from early barter to the classical gold standard and the ultimate collapse of the Bretton Woods agreement. Read this fantastic book for free in HTML format: Mises.org/WHGD Bob Murphy's series, "Understanding Money Mechanics": Mises.org/MM Bob Murphy interviews Fed economist David Andolfatto on the devaluation of money, among other topics: Mises.org/BMS175 Hans-Hermann Hoppe reconsiders Hutt's seminal article, "The Yield from Money Held": Mises.org/HoppeHutt

30 Apr 2021

Episode artwork

SLP270 Bob Murphy What Does A Hard Money Bitcoin World Look Like?

Stephan Livera Podcast

Bob Murphy, Austrian economist and libertarian theorist joins me on the show to talk about his views on Bitcoin and Austrian economics. We chat: Bitcoin’s evolution in stages Bitcoin and non monetary use What bitcoiners are getting wrong about Austrian economics Money is not a measuring rod What it would look like under a Bitcoin world Bob Murphy links: Twitter: @BobMurphyEcon Site: BobMurphyShow.com Sponsors: Swan Bitcoin Hodl Hodl Lend Compass Mining Unchained Capital (code LIVERA) CypherSafe (code LIVERA) CoinKite.com (code LIVERA) Stephan Livera links: Show notes and website Follow me on twitter @stephanlivera Subscribe to the podcast Patreon @stephanlivera

1hr 7mins

21 Apr 2021

Episode artwork

Bob Murphy Dissects the “Shopping Cart Theory” Allegedly Blowing Up the Case for Self-Governance

Interviews

Recently Tim Poole alluded to the so-called “shopping cart theory” of why self-governance is impossible. Specifically, because people can’t even bother to take back the shopping cart when this is clearly the socially right thing to do, we can’t hope to have a system relying on everyone’s good nature. Bob explains what’s wrong with this argument.Mentioned in the Episode and Other Links of Interest:The blog post for the “Adventures in Pacifism: Louis CK edition” contest.Ben Powell on SomaliaBob’s book Chaos Theory, his article on libertarian law and military defense, his lecture on the market for security, and his lecture on military defenseThe Federalist No. 51For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.

24 Dec 2020

Episode artwork

Interview with Bob Murphy

Crisp Cuts from the C-Suite

In our final interview of Season 1, I sat down with Bob Murphy. Bob is the Chief Revenue Officer of Patra and leads all customer acquisition, marketing, product management and corporate strategy initiatives to scale Patra’s revenue and profitability growth.  Patra is a leading provider of technology-enabled solutions for the insurance industry. Bob has over 35+ years of professional experience, primarily in the financial technology industry, and has functional skills in: general management, sales, business development, strategic planning, product development, M&amp;A, restructuring, marketing and corporate governance. Bob has conducted business in over 40 countries around the world, and currently resides in the Bay Area with his family.--- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

28mins

15 Dec 2020

Loading