Lesson #4: Everything Works… Until It Doesn’t
Long track records create confidence. Sometimes too much of it. Markets don’t care how long something has worked. They don’t care about your experience, your reputation, or your past success. There are moments when what worked yesterday simply stops working tomorrow. There was a time when payphones were everywhere. Long-distance calling cards were a real […]
Lesson #2: Floating-Rate Debt and High LTVs Run Out of Options Fast
In a near zero interest rate environment, floating-rate debt and higher leverage can feel like a good choice. When debt is virtually free and you’re focused on maximizing returns, leverage is the way to do it. But the risk is always there, even when it doesn’t feel like it. When rates rise quickly, debt service […]
Don’t Fight the Fed
Lesson #1: Don’t Fight the Fed One of the most important investing lessons I’ve learned came in the spring of 2022. We had just closed our first deal with a new institutional equity partner, the first of what was supposed to be multiple deals. Shortly after, the Fed began one of the fastest and most […]
In the Arena: Real Estate Investing Lessons Learned Through the Ups and Downs of the Market Cycle
It’s been quite a cycle, and I’ve had a front-row seat to both the upswing and the downswing. Now that things have settled a bit, I wanted to share a series of lessons learned from this period. This season required a lot of hard decisions. Looking back, I’ve had time to reflect on what worked, […]
Are the Headlines True? – Additional Details
Thank you all for the support following the recent “Are the Headlines True?” Update. We received a lot of questions and input, and wanted to circle back with a clear update on where things stand regarding the two sour grape lawsuits. Many of you have asked for additional details, so I wanted to provide a […]
Addressing Recent Headlines, Allegations, and Resolved Matters
January 19, 2026 In my last update, I noted that several negative headlines and lawsuits have circulated regarding GVA and me personally. This update is intended to address those matters directly and provide clarity around what is fact, what is allegation, and what has already been resolved. Are the headlines true? Over the past year, […]
How Leadership Decisions Helped Reduce Losses and Protect Investor Value
After outlining what happened and why the market turned so quickly, this update focuses on the leadership decisions and operational actions taken to reduce losses and protect investor value during one of the most challenging real estate cycles in decades. Context Matters: Timing and Market Reality Approximately 80% of the portfolio was acquired in 2021 […]
Open Letter to GVA Investors
Dear Fellow Investors, I’m writing to you today with a sense of both responsibility and gratitude. Over the past year, you’ve watched as our company has faced legal challenges the media have chronicled extensively. While these stories have captured attention, they haven’t told the complete story, and you deserve to hear directly from me. I […]
Alan Stalcup: Championing Smart, Community-Centered Real Estate for Long-Term Value
In today’s evolving real estate landscape, traditional investment models are shifting. No longer is success measured purely by numbers on a balance sheet. Instead, the most forward-thinking real estate leaders are blending financial performance with community impact—and Alan Stalcup is at the forefront of this movement. Alan Stalcup, Founder and Principal of GVA Real Estate Group, has […]
A Higher Standard of Leadership: Building Trust Through Accountability, Transparency, and Long-Term Vision
Leadership in real estate is often measured by growth, scale, or short-term performance. I believe it should be measured by something more enduring: the systems we build, the accountability we uphold, and the trust we earn over time. Throughout my career, my focus has remained consistent—build organizations that operate with integrity, serve residents responsibly, protect […]