Inspiring Leaders in Our Changing Industry: Cappy Daume, The Davis Companies

This summer, Connect CRE is producing a series titled, “Inspiring Leaders in Our Changing Industry” as a follow-up to last summer’s “Leading in Tough Times” series. We’ve selected leaders around the U.S. and across the commercial real estate spectrum to discuss significant changes in the industry and their organizations. In this installment, you’ll hear from Cappy Daume, chief portfolio management officer, The Davis Companies.

A Triumph to Celebrate: What recent organizational accomplishment brings you the most satisfaction? What specific challenges did it overcome, and what key factors led to its success?

Working through the acquisition of the 100-acre Exxon land purchase in Everett, MA was a career highlight. The project is a case study with layers of complex considerations, like figuring out how to safely decommission over 24-year-old petroleum tanks to meet environmental remediation standards. We worked closely with a Fortune 100 seller to reach an agreement and then had to develop a large-scale urban plan. Given the generational impact of this project, it was all-hands-on-deck for Davis, and personally very inspiring.

This accomplishment is particularly satisfying because it represents the growth of the Davis team. When I joined Davis 15 years ago at the inception of its fund business, we did not have the capacity for a project like what we are doing in Everett. Today, however, we have the top tier talent that possess the skills necessary to undertake projects of significant scale in science and technology, residential and mixed-use, and industrial. I am deeply proud of my team, their ability to problem solve and what we have been able to accomplish to date, I look forward to what is to come for Davis and am confident this team will continue to exceed expectations.

Catalysts for Change: What are the essential elements for achieving significant progress within your organization and the industry as a whole?

At Davis, it starts with our assembled team of smart, determined and trustworthy people who know how to see around corners, who can assess risk and opportunity at the same time, and who are hyper-vigilant and communicative in their execution. Opportunity depends on the circumstances and the market. We are constantly keeping long term trends at the forefront of our thinking, such as evolution of technology; where people want to live; what people want from their communities and their workspaces; and especially climate resiliency. We answer for these considerations with durable real estate solutions.

In terms of the industry, I think we need to keep pushing the advancement of women and diverse candidates to higher ranks and positions of influence. While we have made progress since I joined the industry, there is still room for improvement at the top of most organizations. The commercial real estate industry can be challenging, and I encourage every CEO to internally audit and find opportunities to broaden the identity of their leadership team. The identity of your leadership team is increasingly important for attracting the next generation of leaders, who value representation in their organization more and more.

Guiding the Next Generation: As we acknowledge the industry’s rising stars, what guidance can you offer them to become catalysts for positive change?

As time has gone on, I have realized that no one transaction defines you. First, they are fleeting, and secondly, there will always be another one. Internalizing this thinking creates space to have compassion for yourself and for people on the other side of the table. I’ve seen this through the work of Davis’ CEO, Jon Davis, who has been one of the greatest influences on me during my time at the firm. I have observed how Jon prioritizes giving back to his community in time and money, just as much as real estate transactions.

Our world is growing ever more complex, and I believe it requires diverse thinking and deliberate effort to be successful. It is important to intentionally invite more people from different backgrounds, race and gender into your circle. Then focus on how to not only invite them, but to also listen to them. I have two young environmentalists in my family; at every turn I am reminded by their vision for the future and how interconnected our ecosystem is. I am hopeful the next generation of real estate executives can prioritize sustainability even more. Finally, the next generation finds themselves with tremendously powerful technology at their fingertips. They should embrace it and use it to everyone’s benefit.

Click here to see the full Inspiring Leaders in Our Changing Industry series.