Andrew Wright, CEO and managing partner of Franklin Street

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ATLANTA—Franklin Street celebrated its 10th anniversaryon December 6. Since its launch in 2006, the company has grown to include five business lines—real estate,capital, insurance, management and valuation—more than 250employees and more than $3 billion in current transaction valueAndrew Wright and two other partners launched the company asa multifaceted real estate business from the birth of thebusiness in 2006, with vertically-integrated business linesencompassing the entire life cycle of an investment.

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GlobeSt.com caught up with Wright, CEO and managing partner ofFranklin Street, to discuss the challenges of starting a company inthe worst of times. He also shares how he targeted a niche atlaunch in part one of this exclusive interview.

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GlobeSt.com: How challenging was it to start a companyright before one of the worst recessions our country has everexperienced?

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Wright: If I had to look back on it, it was the perfecttime to be starting a company. When you're nimble and adaptive,you're in a much better position to deal with that downturn. Youdon't have the large overhead expenses and the shareholderexpectations to deal with. However, you still have the pressure offeeding your family and ensuring that the people you employ keeptheir jobs, but it played out well for us.

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We managed to adapt to the downturn and engage the market in ameaningful way. It was a great way to sharpen our skills during themost stressful situation possible. If you've been working for 10 or15 years in an easy environment, then you're going to be less readyfor something like that. In hindsight, it was the perfect time forus to launch because we could capture a large market share anddifferentiate ourselves from the competition too.

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GlobeSt.com: What niche did you intend to fill when youstarted Franklin Street?

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Wright: The forward strategy was more about creatingoffensive and defensive businesses: insurance, property management,mortgage servicing and appraisals are all defensive businesses.Those services are still needed whether the market goes up or down.There was not one integrated model that serviced the market well.There were other businesses that did many of the same things wedid, but they segmented their people in silos.

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In order to have an effective real estate business with manydifferent components, it needs to be born out of integration andcollaboration. It's hard to force that on a company that's beenaround a long time. We've literally been born working together andinteracting with our different departments. Personal relationshipshave developed from being together and learning together. From aniche perspective, the integrated delivery of collaboration is whatseparates us because it's not something we talk about, it's beenembedded in us from our very beginning.

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Andrew Wright, CEO and managing partner of Franklin Street

|

ATLANTA—Franklin Street celebrated its 10th anniversaryon December 6. Since its launch in 2006, the company has grown to include five business lines—real estate,capital, insurance, management and valuation—more than 250employees and more than $3 billion in current transaction valueAndrew Wright and two other partners launched the company asa multifaceted real estate business from the birth of thebusiness in 2006, with vertically-integrated business linesencompassing the entire life cycle of an investment.

|

GlobeSt.com caught up with Wright, CEO and managing partner ofFranklin Street, to discuss the challenges of starting a company inthe worst of times. He also shares how he targeted a niche atlaunch in part one of this exclusive interview.

|

GlobeSt.com: How challenging was it to start a companyright before one of the worst recessions our country has everexperienced?

|

Wright: If I had to look back on it, it was the perfecttime to be starting a company. When you're nimble and adaptive,you're in a much better position to deal with that downturn. Youdon't have the large overhead expenses and the shareholderexpectations to deal with. However, you still have the pressure offeeding your family and ensuring that the people you employ keeptheir jobs, but it played out well for us.

|

We managed to adapt to the downturn and engage the market in ameaningful way. It was a great way to sharpen our skills during themost stressful situation possible. If you've been working for 10 or15 years in an easy environment, then you're going to be less readyfor something like that. In hindsight, it was the perfect time forus to launch because we could capture a large market share anddifferentiate ourselves from the competition too.

|

GlobeSt.com: What niche did you intend to fill when youstarted Franklin Street?

|

Wright: The forward strategy was more about creatingoffensive and defensive businesses: insurance, property management,mortgage servicing and appraisals are all defensive businesses.Those services are still needed whether the market goes up or down.There was not one integrated model that serviced the market well.There were other businesses that did many of the same things wedid, but they segmented their people in silos.

|

In order to have an effective real estate business with manydifferent components, it needs to be born out of integration andcollaboration. It's hard to force that on a company that's beenaround a long time. We've literally been born working together andinteracting with our different departments. Personal relationshipshave developed from being together and learning together. From aniche perspective, the integrated delivery of collaboration is whatseparates us because it's not something we talk about, it's beenembedded in us from our very beginning.

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