'Worth Its Weight In Gold': Bisnow's Ascent Retreat Spurs $1B Development, Enduring Connections

When Southern Waters Capital was just 2 years old in 2021, the real estate developer, owner and operator's founder and managing partner, Ray Mazzie, was introduced to Ascent, Bisnow’s two-day, invitation-only executive retreat, through a trusted friend in the industry. 

Since then, Mazzie has attended the retreat five years in a row, inspired by the connections he has made and the business it has driven that has lasted well beyond those two days. Through those connections, the Fort Lauderdale-based firm, which specializes in ground-up development of all residential housing products, secured seven of its joint venture partners, resulting in over $1B worth of development. 

Mazzie was able to partner with prominent commercial real estate firms such as Merrimac Ventures, PCD Development and The Procopio Cos. as well as expand his business throughout the eastern U.S., focusing on the Carolinas, Tennessee, Georgia and Florida with selective adaptive-reuse projects in Massachusetts and New York.

Mazzie said the relationships he’s fostered at Ascent are invaluable and the opportunities arising out of them have been critical to SWC’s ability to pursue institutional-size developments from its inception. 

“Branding is foundational in CRE, but it only matters if it converts into trusted relationships,” he said. “Ascent has helped me do both. The platform has amplified my credibility and connected me with high-quality counterparties, many of whom have turned into partners and most importantly real friends. Every dime I spent on Bisnow has been worth its weight in gold.”

The annual retreat gathers experienced CRE owners, founders, managing directors, senior investment executives, developers, and equity capital and debt providers from around the U.S. in all asset classes and across the capital stack for networking and dealmaking. This year’s retreat will be held on Nov. 9-11 at Miami’s 1 Hotel South Beach.

Attendees have myriad opportunities for capital partners to build partnerships with operators and developers through activities and shared experiences. One is speed dealmaking, where owners and capital providers are paired for four minutes to talk about deals before time runs out and they have to switch partners.

Another involves bringing together attendees in small, curated groups called "tribes" to share ideas, experiences, challenges and current business needs. The organizers work with each individual attendee to determine investment criteria and business synergies. As a tribe leader, Mazzie said he enjoys being a resource to the people invited to be part of the Ascent community.

Mazzie said Ascent stands out for its curated and thoughtful list of capital providers who are looking to meet active owners, developers and operators. He credited Bisnow CEO Gregg Mayer and Bisnow Principal of Executive Retreats Sean Donahue for helping to facilitate these relationships. They both speak with attendees beforehand and learn about the types of people they are hoping to talk to. If they don’t get a chance to meet someone they wanted to at the retreat, the organizers will always help facilitate the connection afterward.

“The care and curation that goes on behind the scenes, combined with the cohort of people, always results in a memorable and valuable experience,” Mazzie said. 

He said it’s about giving attendees the time to build relationships with people and determine if they are a good fit from a strategic perspective and on a personal level. It’s not like other events where people are constantly getting roped into random vendor sales pitches, he added. 

“At Ascent, I don’t feel like a french fry on the beach surrounded by a bunch of seagulls,” he said. “I’m getting the opportunity to go to a great place where I can make new connections and reunite with my friends in the industry. It’s the single most impactful CRE event year in and year out.”

Currently, a majority of the deals in the firm’s pipeline can be traced back to Mazzie’s time at Ascent, he said. For example, SWC is breaking ground with Merrimac Ventures on a 360-unit multifamily development. With PCD Development, SWC is breaking ground on the first phase of a 672-unit build-to-rent and multifamily development, in addition to several other projects up and down the Eastern Seaboard. With The Procopio Cos., SWC is breaking ground this year on a 370-unit multifamily development.

Mazzie shared that, beyond active transactions, these connections have grown into ongoing dialogue around new opportunities, a reliable exchange of recommendations and genuine friendships he maintains, particularly when he’s in their respective markets.

“Everyone at the event is someone you want to grab a coffee or a beer with, which makes it more natural to stay in touch,” he said. “If I really need something, I know I could always look at the list of people who attended and find someone who can either help with what I’m looking for or knows someone who can help.”

Don’t miss out on the opportunity to enhance your business and close deals at Ascent. Apply to join the select group of CRE professionals.