#348 - Smart Investing with Jody Chapnick

Jody Chapnick has had a 25 year career in commercial real estate and finance that has focused on lending, asset acquisitions and raising equity capital for various real estate projects. These transactions have included assets in both the public and private real estate sector. Investments in these sectors focused on distressed opportunities in both the equity and debt investment arena.

Jody Chapnick is the managing General Partner of Thaynes Capital LLC. Thaynes Capital LLC is a real estate development, investment and building company located in Park City, Utah. Thaynes' focus is the purchase and development of residential lots in Park City, Utah.

Prior to the formation of Thaynes Capital LLC, Jody Chapnick was the director of Capital development and Asset Acquisition for Grove Property Fund and its predecessor, public company Grove Property Trust. Grove Property Trust was an American Stock Exchange Company which merged with Equity Residential Properties, a publicly traded NY Stock Exchange REIT during calendar year 2002. Mr. Chapnick's responsibilities included the placement of common shares in both the initial and secondary offerings of Grove Property Trust common stock. In addition, Mr. Chapnick's duties included the sourcing of property portfolios through banks, pension funds, property owners and insurance companies. Grove Property Trust returned investors approximately a 25 percent, per year internal rate of return on their investment.

Jody Chapnick has made several acquisitions outside of the real estate sector. In 1999, Jody Chapnick recapitalized Spray-Tek Inc. located in Middlesex, New Jersey. Spray-Tek is a contract manufacturer that focuses on the pharmaceutical, flavor and food industries. Spray-Tek has formed a joint venture with Proctor & Gamble to spray dry their tide detergent in Mexico. Spray Tek's valuation in 1999 was $17 million. The company was just recently sold for $250 million in December 2021. During the holding period of 1999-2021 the investors received 6 times their investment in dividends and an enormous return on the sale of the company.

During 2012, Jody Chapnick negotiated and purchased Fidelity Property & Casualty Insurance company for $ 140 million in an all-cash purchase from Fidelity National a $ 5 billion New York Stock Exchange Company. Subsequently, Fidelity Property & Casualty purchased Evergreen Indemnity an insurance company that writes bonds for the Landfill Sector. The holding period for the insurance companies were five years. The companies were purchased at a book value of 80 percent of book value and sold at a premium of 155 percent of book value on improved earnings. This transaction resulted in a huge windfall for my investment group.

Currently, Mr. Chapnick is a General Partner for Thaynes Capital Real Estate Partners which is a Private REIT purchasing Industrial Assets in Charleston, SC. Mr. Chapnick also consults for a major Public Insurance Company and several Real Estate Companies.