IBJNews

2013 Forty Under 40: Andrew Held

Back to TopCommentsE-mailPrintBookmark and Share

 

“It’ll be in the arts, from continuing involvement with Penrod to, hopefully down the road, getting involved with another arts organization.”

Age: 36

President, PCD Capital Group LLC


Andrew Held had an impressive law career going—as an Indiana University-Bloomington law student, he clerked for federal Judge Sarah Evans Barker and Indiana Court of Appeals Judge Margret Robb before joining Hackman Hulett & Cracraft LLP and then Bose McKinney & Evans LLP in its Real Estate Group.

“I practiced almost five years,” the Indianapolis native and North Central High School graduate said, “and it almost seemed like it was a better fit to be on the business side. Law is a great career, and it’s a tremendous background, particularly on the real estate business side of things.”

So he went to work for School Craft Development LLC developing shopping centers and, to learn more about finance, went back to school at Butler University for his MBA.

In August 2008, Held and several partners started Pedcor Commercial Development LLC. With the economy tanking, the timing, seemingly, couldn’t have been worse. But PCD hadn’t established a niche, so rather than development, it decided to buy assets to seed the company. Most of that occurred in Southern California, where Held spent a lot of time picking up five projects from people or banks looking to unload their holdings. (He still managed to continue his longtime work with the Penrod Arts Fair and be home with his wife and their three children.)

PCD was able to buy around $100 million of assets by the end of 2011, Held said. And as the real estate market normalized, Held and company have shifted their focus back to Indiana. They’re buying the Echo Ridge Apartments on the east side of Indianapolis and have two projects in Muncie.

“To me,” Held said, “it’s all about shifting your focus and recognizing opportunities as they present themselves. We were able to do that. We’re a small group, so we’re able to be pretty nimble.”•

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. How much you wanna bet, that 70% of the jobs created there (after construction) are minimum wage? And Harvey is correct, the vast majority of residents in this project will drive to their jobs, and to think otherwise, is like Harvey says, a pipe dream. Someone working at a restaurant or retail store will not be able to afford living there. What ever happened to people who wanted to build buildings, paying for it themselves? Not a fan of these tax deals.

  2. Uh, no GeorgeP. The project is supposed to bring on 1,000 jobs and those people along with the people that will be living in the new residential will be driving to their jobs. The walkable stuff is a pipe dream. Besides, walkable is defined as having all daily necessities within 1/2 mile. That's not the case here. Never will be.

  3. Brad is on to something there. The merger of the Formula E and IndyCar Series would give IndyCar access to International markets and Formula E access the Indianapolis 500, not to mention some other events in the USA. Maybe after 2016 but before the new Dallara is rolled out for 2018. This give IndyCar two more seasons to run the DW12 and Formula E to get charged up, pun intended. Then shock the racing world, pun intended, but making the 101st Indianapolis 500 a stellar, groundbreaking event: The first all-electric Indy 500, and use that platform to promote the future of the sport.

  4. No, HarveyF, the exact opposite. Greater density and closeness to retail and everyday necessities reduces traffic. When one has to drive miles for necessities, all those cars are on the roads for many miles. When reasonable density is built, low rise in this case, in the middle of a thriving retail area, one has to drive far less, actually reducing the number of cars on the road.

  5. The Indy Star announced today the appointment of a new Beverage Reporter! So instead of insightful reports on Indy pro sports and Indiana college teams, you now get to read stories about the 432nd new brewery open or some obscure Hoosier winery winning a county fair blue ribbon. Yep, that's the coverage we Star readers crave. Not.

ADVERTISEMENT