BEYOND THE BIO: 16 QUESTIONS WITH ROSEWOOD PROPERTY CO. PRESIDENT RICK PERDUE
Apr 22, 2019 | Kerri Panchuk, Bisnow Dallas-Fort Worth
As president of Rosewood Property Co., Rick Perdue spends each day at the helm of a 30-year-old organization handling CRE development, investment and brokerage across the U.S.
Rosewood is based in Dallas and targets investments in every aspect of CRE from self-storage to office, industrial, multifamily and land and development. Among its successes, the company led the transformation of Uptown Dallas, turning it into a vibrant center for professionals who want to live and work in the area.
From Providence to Los Angeles, Seattle to Oklahoma and throughout Texas, Rosewood has been transforming lives through massive commercial real estate deals.
Rosewood Property is a real estate investment vehicle for The Rosewood Corp., which is wholly owned by the Caroline Hunt Trust Estate.
Perdue, who has an MBA from Tulane University, spent 17 years at Dallas-based Tonti Properties, leading development and acquisitions. He also served as senior managing director at multifamily-focused development and investment firm Mill Creek Residential; through Perdue's career he has handled over $1B in multifamily development and investment sales.
Perdue is a board member for The Real Estate Council and chaired its Associate Leadership Council.
Outside of work, Perdue puts his passion for transportation and movement to work as a founding board member of the Circuit Trail Conservancy, which aims to connect the trail system in Dallas.
He enjoys time with his family in the great outdoors.
Bisnow: How do you describe your job to people who are not in the industry?
Rick Perdue: We buy or build quality real estate with the intent of holding it for a long time.
Bisnow: If you weren’t in commercial real estate, what would you do?
Perdue: A bush pilot in Alaska. I am not sure my wife would go for this, but it is my fantasy job. I received my pilot’s license in college and have always dreamed of piloting small aircraft in remote areas.
Bisnow: What is the worst job you ever had?
Perdue: My least favorite job was as part of [a] surveying crew during a very hot and humid summer in Alabama, cutting line with a machete in ankle-deep water full of mosquitoes. Let’s just say it heightened my focus on college.
Bisnow: What was your first big deal?
Perdue: I built an apartment community in Plano, Texas, right out of college. I spent most of my time in a job trailer, but it was my first “big deal” and certainly the one where I learned the most.
Bisnow: What deal do you consider to be your biggest failure?
Perdue: It would have to be the deals not done during the last downturn. There was an incredibly short window of great opportunity, and I wish I had done more.
Bisnow: If you could change one thing about the commercial real estate industry, what would it be?
Perdue: The occasional irrational exuberance.
Bisnow: What is your biggest pet peeve?
Perdue: Couples staring at their phones while dining out.
Bisnow: Who is your greatest mentor?
Perdue: Steve Cawood. I started working for him when I was 15, and he guided me throughout high school and college. I advise everyone to have a good mentor.
Bisnow: What is the best and worst professional advice you've ever gotten?
Perdue: The best professional advice I have ever received: Get out of debt as soon as possible. The worst professional advice I have ever received: Follow your dreams when picking a college degree. Fortunately, I didn’t take this advice to heart, and I earned an engineering degree instead, which has helped me get to where I am today.
Bisnow: What is your greatest extravagance?
Perdue: Our family Shorkie.
Bisnow: What is your favorite restaurant in the world?
Perdue: Keese’s in Lauderdale-by-the-Sea, Florida. It is a mom-and-pop hole-in-the wall that serves the best Mediterranean food I have ever eaten. My favorite dining experience was probably in Tokyo at Gonpachi, which is referred to as the Kill Bill restaurant because a well-known scene of the movie was filmed there.
Bisnow: If you could sit down with President Donald Trump, what would you say?
Perdue: No comment.
Bisnow: What's the biggest risk you have ever taken?
Perdue: Riding a road bike in the city of Dallas.
Bisnow: What is your favorite place to visit in your hometown?
Perdue: My grandmother’s farm in the small town of Eclectic, Alabama. It holds a lot of great memories.
Bisnow: What keeps you up at night?
Perdue: Not too much. If you work hard, don’t overextend and don’t over-leverage, most things will work out just fine.
Bisnow: Outside of your work, what are you most passionate about?
Perdue: My family. I am the luckiest guy in the world, blessed with an amazing wife and two great kids. My greatest nonprofit passion right now is the Circuit Trail Conservancy, a group tasked with connecting the Dallas trails together. When complete, it will be a game-changer for the region.