Doug Firstenberg – Partnering to Success (#18)

“Get a Mentor-The most important thing a young person can do,” Doug Firstenberg Bio A founding principal of Stonebridge, Doug Firstenberg directs firmwide strategic planning, oversees landmark development projects, and plays a key role in major transaction negotiations. Under his leadership, Stonebridge has developed several of the region’s most innovative and successful urban mixed-use properties, including breakthrough transit-oriented developments and public/private initiatives. Doug Firstenberg has more than thirty-five years of real estate industry experience, leading complex development projects totaling more than 10 million square feet and $4 billion in value. Doug Firstenberg started his career with K.S. Sweet Associates, a Philadelphia-based real estate and investment firm where he was named partner. In 1993, he co-founded Stonebridge Associates in Washington, D.C., and led the transformation of the firm into an urban infill mixed-use developer. Doug Firstenberg graduated from Duke University with a Bachelor of Arts and currently serves in leadership roles of several industry and charitable organizations. Show Notes Role Guide overall direction of firm (3:05)Help in creation of projects and enjoys conceptualization (3:35) Pandemic Crisis Elderly at 60 (4:55)1982 closed a loan at 12 3/4% a 5 yr. deal (5:07) 2008-09- Undertaking largest deal- Constitution Square spent 13 months cobbling together debt (5:40)Today- 3 different projects underway and capital does come in on large development projects (6:30)System is functioning yet the economy is fundamentally frozen nowWe will get through it and hard to understand where we will be- we will all learn howOut of crisis will bring opportunity (8:25) Origins & Education NY native- Doug Firstenberg grew up in suburbs and grandparents lived in Midtown Manhattan (101 Central Park West) (9:20)Story about Macys Parade as a kid (10:00)Moved to Princeton, NJ while in Middle School (10:40)Dad became CFO of Princeton UniversityHis Mentor and first employer transformed Princeton (Forrestal Center)Grateful that he was not accepted at Princeton Univ. and was accepted at Duke Univ. (12:05)Played lacrosse at Duke. Princeton and Duke look similar architecturally. (12:30)Important to have changes in life was good for himFoundations at Duke (14:00)Lacrosse team influenced his passion toward teamworkPublic Policy major (14:45)Faculty was young and engagedRemoved business programArticulating policy presentations were great experiences  (16:08)Sr. Yr. he was introduced to Ken Sweet, his eventual first employer- Offers him a summer internship (17:30)Internship at K.S. Sweet evolved into his eventual career (19:00) Career Arc Doug Firstenberg plans for post undergraduate work fell through and Sweet offered him a full time job that has evolved to his job now at Stonebridge (20:15)He...