There will be many wonderful things the Preiss Company will remember about 2019. But one big reason that will stand out is the record year our company has had in transactions. For the first time in our company’s history, we’ve crossed over the $1 billion threshold in total transaction volume! A huge part of this success is due to the hard work our New Business Development team does on a daily basis.
We recently sat down to chat with Susan Folckemer, TPCO’s Chief Acquisition and Development Officer, to discuss several things including her role in the company, overcoming challenges within the industry, and her personal journey that led her to working for the Preiss Company.
Q: Hey Susan! Tell us about your position in the company. What is your role, what do you oversee, etc.?
A: My role at TPCO is to work along side John Preiss to guide our NBD team to identify investment opportunities; to build, to buy, and to ensure that we have both equity and debt in place for both. Once we acquire a site or existing project, my role is to oversee the fulfillment of our business plan to build a new development or execute value-added capital.
Q: That’s awesome! So, before you took on this role for our company, what did you do before you came to Preiss? What does your professional background look like?
A: Well, I started working for a developer when I graduated from high school so that I could pay for college. Like a lot of our co-workers at TPCO, I fell in love with real estate, and upon graduation from NC Wesleyan, I decided to stay in the field. I had the privilege of working on large commercial developments throughout the mid-Atlantic region, from which I then moved into property management and asset management roles. From there, I went to the oversight of property management and investment sales in the mid-Atlantic region for one of the largest international commercial firms in the world, and with that came the longing for home (Raleigh) and my family. When I met Donna in 2002, it seemed like a perfect fit to get back to the beginning of what I loved most about real estate, which was development. I had NO experience in residential real estate sales, however immediately saw the energy and opportunities that TPCO had in store for the future. I will have been here for seventeen years this January. It continues to be a blast!
Q: Seems like you really hold a real passion for what you do. What made you want to choose this career path?
A: I just felt everything I did [in this industry] was fun. At one point, I was head of the Retail Merchants Association for five different shopping centers. I stuttered through every meeting (I was 23 and they were all old like I am now), but I got to coordinate festivals, create and place advertising, contract for Christmas Decorations… and it was just fun. I found myself participating in meetings with the company owners, fund managers, banks, etc. I had no idea what I was doing most of the time but it was such a great learning experience. I met good people along the way that helped me navigate life as a working mother, and along with that, real estate allowed for work flexibility, despite the fact that I traveled extensively during different times in my career. It was something I wanted to introduce my daughter to when she was choosing a career path.
Q: Great, and with that being said, what is the hardest part about your job? And the easiest?
A: I love the art of the deal, so what is hardest can also be the easiest and vice versa. Finding a good deal can be challenging or easygoing; equity is the same. Navigating through due diligence can be tricky, but we are really good at what we do. I am probably more impacted by the anxiety of it all, but that also personally drives me to move through the hard conversations and decisions.
Q: I completely understand. Speaking of some of the challenges and easier parts of your job, describe what it’s like to be a woman in a primarily male department. Are there any adjustments you’ve had to make being a strong female leader? What are some of the hurdles you’ve faced? And your greatest lessons/suggestions?
A: I’ve worked primarily with men my entire career. With experience and age comes a level of confidence that I continue to work on every day. I think diversity in any group is a good thing: it holds us all accountable and forces us to be respectful. It also brings diverse concepts and ideas to the table, and as long as everyone on the team comes to work each day with all they have, I don’t think about the male/female differences. However, I do think women are often evaluated differently, held to a higher standard, and sometimes overlooked. This dichotomy actually motivates me. As a women in a male dominated industry, I feel like I can actually stand out. I would say use that opportunity to do good things and to be your best. Others will notice and if not, you definitely will.
Q: This is great advice, Susan. So enough with the serious questions! Let’s get into some fun ones. What is one fun fact about yourself that no one knows about?
A: I am pretty sure there are no fun facts that I’ve kept a secret; I am an open book. I am a grandmother of three, I married the love of my life 26 years ago, and have the pleasure of working with him at TPCO. I love sunshine, bright colors and abstract art.
Q: Good to know! And last question, if you could have lunch with anyone on earth, dead/alive, who would it be?
A: Jesus. I want to tell him thank you in person.
Q: Awesome. Well thank you Susan for sharing more information about yourself!
Thank you to Susan and the New Business Development Department for all they do! Susan, you were a pleasure to talk to and to get to know!