Florida Business Forum Podcast

Gilbert Benhamou CEO of Immocorp Capital Part One

February 23, 2023 Sam Yates, Yates & Associates, Public Relations & Marketing
Florida Business Forum Podcast
Gilbert Benhamou CEO of Immocorp Capital Part One
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Show Notes Transcript

One of South Florida's best kept secrets is the CEO of Immocorp Capital, Gilbert Benhamou. His numerous projects are testimonials to his innovation, resilience, hard work, and a belief that when two parties partner on a project the sum total of their efforts is not a simple one plus one.

Mr. Benhamou took time from a hectic developer's schedule to sit down with the Florida Business Forum Podcast host Sam Yates to delve into his success, his passion for art, and a forecast for the South Florida economy in part one of a series of reports.

The Florida Business Forum, part of the Pod National News Network is pleased to share this informative episode with you. If you wish to share news from our interview, please credit the Florida Business Forum Podcast. 

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The Florida Business Forum Podcast is produced by Yates & Associates, Public Relations & Marketing, and hosted by Emmy Award winning reporter and television anchor Sam Yates. If you or your business or not-for-profit organization would like to share your news with our Florida, national, and international audience please contact Sam Yates, Sam@YatesPRO.com.

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Sam Yates:

Hello, everyone and welcome to another informative episode of the Florida Business Forum Podcast. Let's open the Florida Business Forum floodgates and let the information begin to flow. Here's your Florida Business Forum information guru and Anchorman Sam Yates. Hello, everyone, and welcome to another exciting edition of the Florida Business Forum Podcast. And I'm proud to be bringing you business news and sometimes some breaking news from around the state of Florida and the nation in our series of podcasts. And today, my guest is someone very, very special, widely known in many business and economic circles for his vision, his investment, dedication to community and family that seems in many cases, to be some of those things that are vanishing from our business communities. So I'm very, very proud to welcome Jubeir that Benhamou, the CEO of ImmoCorp Capital, visionary for numerous business projects, past, present, and future, Gilbert, welcome to the program.

Gilbert Benhamou:

Good afternoon.

Sam Yates:

It is something that when I looked into your ventures and things that you have done, I was just fascinated, who is this man, what has brought him here to South Florida. And ladies and gentlemen, I always since this is audio, I always have to sometimes give a little play by play, you've got a great big smile on your face, because I know what I'm saying is true. So everyone wants to know a little bit about you. We're going to do hopefully more than one episode. And in our second episode, we'll get more into the business side of it. But let's let's start by talking a bit about you. Tell us about your background and who you are.

Gilbert Benhamou:

Born in Morocco. We were a part of my childhood in Morocco, then moved to France, and came here in Miami and vacation when I was 26-27. And by 28 years old, I decided to move here definitely. I sold my business which was successful business as a great life in Paris. No reason to move here. But I liked not only Miami, you know, as a kid, you always have the the American dream. It came to America at the right time. And I fulfill my dream.

Sam Yates:

I love that story. As a former television anchor, investigative reporter, you know that I looked into a little bit about your background. And you don't do a lot of interviews. But one of the things that popped out in the many things that I was able to find out is you love art, why the love of art,

Gilbert Benhamou:

love art goods back to I'm 59 years old, I think I was 18 years old. So it's something that I have inside it's have a passion for it. Passion for the artists. And I try to enjoy that as much as I can incorporate into my business. Something that I have around me in my office at home.

Sam Yates:

Looking around your office right now. Give us a word I view of some of the art that's here in your office.

Gilbert Benhamou:

Just behind you you have a beautiful piece of art. From Roberto Matta. This is artist from South American artist with the artist here something completely different from an artist named brainwash street art. People like it don't like it, but I think it looks it looks to me dogs to my kids, which is more important so I can communicate art with my kids. They may not understand this, but they may understand this. So

Sam Yates:

my graphic artist, Jennifer Chaparro, she is an outstanding artist before she was a graphic designer. And she's in the process of taking an art program live in Colorado even as we speak today. And she is someone that when you look at art, you see the look on her face, just as I'm saying in yours right now that there is an appreciation of art that people either have or some people will never get it.

Gilbert Benhamou:

Well, you know what, I think that everybody is an artist in this manner. You are an artist in what you're doing. I'm an artist what I'm doing. Everybody is an art in this manner is just the expression that an artist is going to give you of the wases life and what he has inside and either you can get it and get it and it just when you have the passion is not only about a piece of decoration is a piece of an artist we express himself. So I just don't buy a piece of art, because I like it that way to see with the artist, where he's coming from, what the background was behind it, because this is how I learned, you know, I learned from a younger age to, to appreciate art,

Sam Yates:

and quite a collector understand, you have collections in warehouse that are being shifted from one location to another, you also have a lot of art in your home and a little birdie told me, Marilyn Monroe

Gilbert Benhamou:

It used to because I was, you know, very serious in your life, whether you like it or not, then an evolution. And maybe what you have seen was about about 1518 years ago? And yes, very similar it is, but took Marilyn Monroe and express the attitudes of Marilyn different aspects. So yes, and there are various, add some pieces for marine Monroe pictures in it pictures, but over the last moment. So

Sam Yates:

when you have that passion for art, does that transfer over into your business? And if so how

Gilbert Benhamou:

differently? Differently, because what you do, you have to do it with appreciation and with love. Because it's going to be, you're going to do it right? Don't do anything that you don't like, and this is always what I told my kids, make sure that whatever you do in life, you love it, because you're going to do it right. So don't necessarily look at the aspect of money financial that will come after.

Sam Yates:

And usually it does if you do what you love, and you follow in those steps. So, you know, that's words of wisdom for many of our listeners here in Florida and around the world that tune in to the Florida Business Forum Podcast, if you're doing something you don't like to do, and you hate every day of doing it. Maybe it's time that you stopped and said, What is my passion in life fair statement.

Gilbert Benhamou:

For I did a couple of times in my life. I was in business where but were successful. But when I didn't have the passion for it anymore, I just sold it and move on.

Sam Yates:

Tell me about your team.

Gilbert Benhamou:

My team is people that have been working for close to two decades, and now my kids, they join me. So it's such a pleasure now to have the advantage of having your own kids working with you. You know, as I told them, they are smarter than me. Because we live in a different world today where they're smarter than me, I just have more experienced than them. So if we can mix both of them together. And as father and son and friends and colleagues, we can achieve big things together.

Sam Yates:

I have found that when you meet the right people, and I say that I get goose bumps because there are certain people when you meet and you collaborate with them, the sum of yourself and those people is so much greater than you could ever ever do alone. And I take it that you have met those people

Gilbert Benhamou:

is it. And same thing in partnership, but many partners in my business. And today my partners are my kids and of partners that they do business with and we have for us is a synergy. And I will receive it whenever partner but one plus one has to make five

Sam Yates:

absolutely true. I agree with that. Two part question. And this one is probably one that you've thought about yourself many, many times. What is your most successful project to date? And why?

Gilbert Benhamou:

Very interesting question. So it depends on you can see it. So I did a successful project. When you get the building where the heart the architect, piece of art. But unfortunately, the the economy was not there was late 2008 was a crash. So my kids always tell me that you pass by this building and all your life, you're gonna say I build it. It's your building. And this is a piece of what you accomplish. And I tell my kids Yes, except but when I pass by in front of this building, I remember that they lost money. Okay was a bad time in the economy and I lost money. So I rather have built something different. That produces money that give you success than somebody that was beautiful, but in a certain way was a failure. Even so I don't take it as a failure. I take it as experience and experience space because It is the time of life where I learned the most was at that point of time in 2000, late 2008 2009, when the world economy collapse,

Sam Yates:

that was a period of time, that was horrible for everyone. I look back on that period of time and sometimes wonder, how did we get through it? But we did by persevering?

Gilbert Benhamou:

We did because we have the ability to forget.

Sam Yates:

Thanks, God. Absolutely,

Gilbert Benhamou:

absolutely. If not, we could not continue. Look, it was an interesting time, because it was challenging. And you have to be creative. And you have to think out of the box. And by figuring out of the box, this is where you have more experience, and get better in what you're doing.

Sam Yates:

Experience is a key part of everything. Before I forget. I know that if we were to stop and talk about all of your projects, and I want to talk about some of the projects, we would sit here for hours, especially with me because I tend to just talk and talk and talk. And that's what I love doing. Can you come back for another episode?

Gilbert Benhamou:

I will.

Sam Yates:

Now before we wrap up, if someone wants to reach out and contact you either for advice, or your capital investment company or whatever they might like to do? Are you accepting people to come forward and say generic? I've got a thought I've got an idea, or is it something that is a little bit more structured?

Gilbert Benhamou:

Now I'm always open, natural and open. You know, I put myself where I was years ago, and would have loved to ask people, are you good? Successful? Are you decent that, you know, to learn? Even so, you know, I still learn today. And I'm happy to learn from other people. South Florida.

Sam Yates:

We have had our ups and downs in South Florida. Where do you see South Florida going right now as far as our business economy in particular,

Gilbert Benhamou:

I think that finally, people realize what Florida is about. People, I thought that Florida was only a place where you can vacation, and come just to go to the beach. When I had friends or family coming over to visit us, they did not understand that we could be busy from 8am to 8pm. We working okay, we active. And finally, it is unfortunate. But it took until the COVID happened for people to discover what South Florida was about. And finally people understood I mean, H found, but we'll have never thought of leaving Manhattan, they came to Florida, they were able to earn their business, all of a sudden, that also quality time, quality family time, but they don't have over there. And they move there. So even so when you hear the news, when you read your newspaper, the only thing can hear is inflation recession is going to be a collapse of economy. In Europe, we printed too much money in America. All of that is right. And so, but I don't think that South Florida has any concern about it. And we are not going to go through what the rest of the world is going to go through, which doesn't sound very promising. And I don't have any worries. And I will even say that it is time to continue to invest because very soon, prices will go up again in South Florida. So everybody's expecting everybody sitting right now waiting to see pricing going down and it's not happening. We may see just because of financing purposes that people finance property when the interest rates were in the i two twos no three and today we I mean we get into much higher numbers so they may have some problems refinancing so you're going to hear varies a deal here and deal there but except that I don't I don't see it. Construction didn't go down. Price of construction is still up, which is a sign and against Selsey a lot of activities in our business. On the multifamily visa. I can see still a lot of activities. People are still moving here. And what's amazing is for the past two years, three years, we didn't see South American market, which we were totally depending on essentially in Dade County. And it's an American market the strong American market. We have no real brand new South American and when the market suffered market and European market will come back then it's gonna go it's gonna blow up.

Unknown:

Many people I speak with say that Dade County, South Florida day In Korea particular is just about built out but I think they sometimes forget there is the option of building up.

Gilbert Benhamou:

up very is, you know, very is a new trend when in Fortunately, that building collapsed in Surfside. So now you see the, you see a lot of the trend is to some developer trying to acquire oldest condominium one by one demolition and leaving a place to a new to a new building and that's going to continue to happen. You know, various new standard for construction. We're very keen within, that's going to happen. So I think that we still have a lot of land available. You can go west life is different west but it's still a great life. For his ranches. People want space. We can go to St. Lucie County, it's absolutely beautiful. The beaches are as nice as they are over here. So I don't think it's a matter of

Sam Yates:

you're absolutely right. Some of those areas of Florida like St. Lucie County are undiscovered.

Gilbert Benhamou:

Yeah. Okay. You can take Jensen beach. Absolutely beautiful, beautiful home. You can a few years old grab the home in the ocean over for just below $2 million, the same house today. The multiples are three, four or five. So

Sam Yates:

I lament the days of selling our house on Hutchinson Island, but my wife does not miss the hurricanes. And and you know, that is something that we all have to deal with. We're on a peninsula. So here in Florida, we have to deal with that.

Johnette Gindling:

Revenue of hurricane that have quake. Absolutely okay. At least I know where he's coming. At what base he's coming. Oh, strong he's going to be. So I've been here since 1991. And get add to I was welcomed by Hurricane Andrew. So when you went to a Hurricane Andrew since then we didn't really get something as strong and that was already almost it was over 30 years ago. So

Sam Yates:

yes, that was something you look back on. And you wonder at the time, how are we going to get through it? But we did.

Gilbert Benhamou:

And the economy was booming just after? Absolutely. It was a booster to the economies of Florida was Hurricane Andrew.

Sam Yates:

Indeed it was. Now I asked earlier about coming back. You said you would be able to come back still hold to that? Definitely. All right. Ladies and gentlemen, we're going to wrap up this episode of the Florida Business Forum Podcast. And Gilbert is going to come back we heard it from him just now. So we look forward to that in our next episode. We're going to get into some of the projects and I love to hear the details from the wisdom that you carry with you. So we're going to take a look at some of those projects. Thank you for being here today.

Gilbert Benhamou:

Very welcome was a pleasure to be with you.

Sam Yates:

I'm Sam Yates. Thanks everybody for joining us have a great day. The Florida Business Forum is dedicated to showcasing Florida businesses and CEOs of all sorts to promote their business or not for profit in the only business forum of its type in Florida. Thanks for tuning in. And remember, the Florida Business Forum is now accepting guest applications. Have a great day everyone and stay tuned for more business