Boyle Talks: Boyle Announces Matt Hayden as President & CEO

Gary: I’m Gary Thompson and welcome to another edition of Boyle Talks. Today, we’ll be talking with Matt Hayden who is currently our CFO, but this is going to be a very special episode of Boyle Talks. We’re here to announce today that Matt is not our CFO, now he is our president and CEO of Boyle Investment Company. Congratulations, Matt!

Matt: Thank you Gary. I’m just humbled and honored for this promotion. I’ve been at the company for a little over eight years, and it’s just been a great company to work for and I’m super excited…and like I said, humbled and honored to be here.

Gary: You’re the first non-family member to be the president of Boyle in our, almost, 90-year history. So this is a big deal!

Matt: I’m very honored to be here and in my career I started out at Ernst & Young here in Memphis, now known as EY. I started that in 2000 and worked on audits and in a number of industries–primarily financial institutions and banks — and actually worked on the Boyle audit at the time. I spent three years there and had a really good experience, but left the public accounting world and went into investment banking with Morgan Keegan. Morgan Keegan was a great experience. I spent nine years there. In the investment banking world I was doing merger and acquisition advisory, primarily in financial services, transportation logistics, and a little bit of real estate. I gained a lot of experience in different companies. But after nine years there, I left and went to Wunderlich Securities, another Memphis firm, spent two years there until 2014 when I joined Boyle.

Gary: It has sort of been a whirlwind since you got here. You replaced our old CFO, who was legendary. Big shoes to fill, but you just came in and fit right in. Tell us about what all has happened since you got here and the things that you’ve done.

Matt: Charles Claiborne, who was our CFO for 35+ years, was looking to retire, so he set out to find a replacement and luckily I happened to be at the right place at the right time and had the opportunity to join Boyle. I joined as deputy treasurer. We had a couple of major projects to undertake at the time, one being putting in a new accounting and financial system and a property management system. At the time, we had two different systems. One was for our accounting and one was for property management. So we switched to what is known as Yardi Systems and are still with that today.

Gary: You came in and made a big difference in our accounting department and our sales and leasing department. You work not only with our Memphis office, but also our Nashville office–which has grown precipitously in 20 years.

Matt: Absolutely!

Gary: You’ve been a part of that almost for half that.

Matt: Charles was extremely gracious in that he stayed here for over five years. This was not a short term transition. We called it long-term transition. He basically, over time, transitioned a lot of the CFO duties to me. But one of the things I learned in investment banking was that I love deals and transactions. So, getting back into that world was exciting, and I started helping our Memphis and Nashville teams on development projects and major leasing transactions. We also have a Midsouth Capital Fund, and I started analyzing things on that. We made five property acquisitions, two dispositions and one spin out. Actually three dispositions. Just getting back in the deal world was interesting to me. It was something I thought I would miss, but it happened to be that we have a lot going on here… as you know.

Gary: You mentioned that you’re hiring in your position here at Boyle was part of a succession plan. And that’s been going on the entire time you’ve been with the company. Your promotion is also part of the continuing succession plan as the family members get older, as the company presidents and senior vice president executives… all of that group is getting older. Tell us, you know, the company is now moving into almost its 90th anniversary next year. Where do you see the company going? What are your plans for the future? Give us your vision as the new CEO and president.

Matt: It’s very important, this is a huge milestone…90 years. I kind of set sites to 100 years in 2030. As part of this transition, our accounting team is in great hands. We have a nearly 40 year employee, Debbie Shelton, and a new hire that we hired last year, Bo Lessley, who has been here approximately a year. It’s in great hands in our accounting group. So, I think my future role will be to work with the Boyle and Morgan families to analyze how we allocate capital, the markets that we’re in in Memphis and Nashville, new property acquisitions, property dispositions, loan refinancing, and just really setting part of the strategic vision for the future–which I don’t think is a huge change from what we’ve been doing for 90 years.

Gary: Right!

Matt: It’s just about keeping up with the current times, the changes in the real estate markets. One of the things we’ve seen in Nashville is that most of these projects are large, mixed-use, very complex projects. They’re not as simple as they’ve been in the past, so it’s just about analyzing this and determining where we want to invest dollars in the future and how to grow stronger over the next ten years as we reach 100 years old.

Gary: The Boyle family and the Morgan family have been around for a long time. Their roots go all the way back to the formation of Memphis and Overton. They’ve been a great corporate citizen. Sounds like the future is really bright for us to continue to be a great business here in Memphis and our expansion in Nashville. We just want to be community players. Can you speak to that issue a little bit?

Matt: Absolutely! What I would say is, the Memphis history goes back over 90 years, but in Nashville we’ve had an office for a little over 20 years and they’ve carefully selected the markets they’ve gone into. We’ve got an excellent team there and they’ve had a major, positive impact on that community–just as Boyle has over the last 90 years and into the future. So it’s very important for us to maintain that. We’re not passive real estate investors. We like to touch and feel and know the communities and properties that we’re investing in, and that’s an important part of the culture here. I think that’s why we have such long-term employees and people that really like being here.

Gary: Right, because we own properties. We invest and then own them and maintain them and lease them and rent them for long periods of time. Which is a little different than traditional, particularly more in the Nashville market, than Memphis. But, ownership mentality is something that we bring to every project that we work on.

Matt: That is correct. Whether we’re a third-party manager or we own one hundred percent of a particular building or asset, we take pride in knowing and treating it like it’s ours. We don’t want to impact communities in a negative way at all. We always want to have a positive impact and that’s something that has been done here in Memphis for 90+ years and has been done in Nashville for over 20. We want to continue to do that going forward.

Gary: I know one of the reasons why I like working here and why I have been here as long as I have is because the family has such integrity. They want to do the right thing. They always want their employees to do the right thing. Just to treat people nice and properly. That’s going to continue.

Matt: It absolutely will. One of the things I’ll be doing is working closely with Paul, Henry Morgan Jr., Bayard Morgan, and their fathers, of course. This culture has been something that withstood a long period of time. That’s why we have such longtime employees, and that’s something we definitely want to continue. This is a great honor for me. I want to continue to do what I’m doing. I don’t see the culture of the company changing at all. I see us just trying to continue that in the future the best way we can.

Gary: Matt, thank you for joining me today on Boyle Talks. This is exciting news, and congratulations on your new promotion. I can’t wait to see where you take the company, and I think it’s only bright days ahead.

Matt: Thanks so much, Gary! I really appreciate it.

Gary: You bet, and thank you for joining us today on another episode of Boyle Talks.

 

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The event will be hosted by Redo Home & Design, on the Franklin Square, on May 3rd from 6 to 9 p.m.

The book signing will take place during the Franklin Art Scene, a monthly “art crawl” event that event that includes tours of more than 30 galleries and working studios throughout downtown Franklin. Redo Home & Design is located at 300 Public Square adjacent to various participating art galleries.

Kevin Clark, from Historical Concepts, will answer attendee questions about how to continue Tennessee architectural traditions, while simultaneously designing and building homes that accommodate the needs of today’s 21st-century homeowners in communities such as Berry Farms. Attendance will be free for the public, and books may be purchased on site to be signed and personalized.

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Nashville In The News

Who wouldn’t want their city to be referred to in The New York Times like this?

“Portland knows the feeling. Austin had it once, too. So did Dallas. Even Las Vegas enjoyed a brief moment as the nation’s “it” city.

Now, it’s Nashville’s turn.”
Apparently, Nashville is the new “it” city. To read more of The New York Times article, click here: http://www.nytimes.com/2013/01/09/us/nashville-takes-its-turn-in-the-spotlight.html?smid=tw-share&_r=0
And, as if that weren’t enough, Nashville is the new food capital too? It appears so according to this article: http://www.bizjournals.com/nashville/blog/2012/12/nashville-may-steal-food-capital-title.html?ana=twt
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What’s New at Berry Farms (besides streets, entry signage, and 5 homes sold!)

Phase I of Berry Farms, Boyle’s new 604-acre mixed-use community in Franklin, Tennessee, is well underway and includes 70,000 square feet of retail space, 11 commercial lots, and Hughes Mill at Berry Farms, the community’s first residential neighborhood.

Hughes Mill includes 53 residential lots and offers a broad range of opportunities. There is truly something for everyone at Berry Farms. Home options include townhomes, cottage homes (perfect for first time home buyers and empty nesters), village homes (larger, more traditional 1 and 2 story homes), and custom homes on the largest lots available. Amenities include parks and community green space with walking trails, a community garden, and a neighborhood pool and pool house called The Plunge.

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All are local Middle Tennessee builders who are producing high-quality homes for Berry Farms in keeping with our historical Franklin look and feel, but with modern amenities. The builders are also selling the homes themselves, so please contact them with any questions, or to see floorplans.

Construction on the homes is starting within the next few weeks, and they are scheduled for completion in January 2013. We are also excited to announce that 5 homes have already been sold!

The commercial portion of Phase I will include retail shops, restaurants, banks, and services to meet the needs of the community in a vibrant, unique setting. Commercial lots are now available for sale or lease. Completed commercial space will be delivered in January 2013 so that new residents will have plenty of amenities upon moving into Berry Farms!

Berry Farms resources: Vision Book and Website

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At first, I was thrilled because this type of exposure has been something these hardworking, local restaurants have probably dreamed about. For one little neighborhood, we have some very special things going on, from homemade, slow roasted Southern artisan Olive & Sinclair chocolate, to the one and only Mas Tacos, which makes authentic Mexican street food such as fried avocado tacos and fish tacos with shaved red cabbage, spicy dill yogurt, and fresh lime. Not to mention the best part, which is that Mas Tacos is tucked away in a small, nondescript storefront with a killer jukebox and an eclectic mix of tables and chairs from the attics of friends and family members. Then, there’s The Pharmacy Burger & Beer Garden, which uses local beef and bakes fresh, homemade buns. The beer garden is covered with picnic tables and lights and is the perfect place to be with family and friends on a nice afternoon or evening.

The article goes on to mention several other local haunts and favorite restaurants that I’ve come to love over the years and describes Nashville as a place that is “enjoying the attention of a nation that sure likes the South these days. But, even if you set all of the Southern infatuations aside, Nashville is one of several midsize cities whose food sensibilities are growing as people leave the dog-eat-dog cities on the coasts in search of more affordable, pleasant places to live and eat.”

Excitement aside (yes, my city was written about in The New York Times, so take that all of my friends who live in Portland, New York City, San Francisco, and etc.), my mind immediately moved toward “wait, now everyone knows” and then toward “I won’t even be able to get into my favorite restaurants and places anymore.” Shock and horror arose as I pictured busloads of travelers standing in front of Mas Tacos on a Friday night, or lining up for Sunday brunch in front of my beloved Marche. But, it couldn’t always be a local secret, so I will decidedly share all that Nashville has to offer. First and foremost, it makes me proud, and besides, what would the South be without “the more the merrier” attitude followed by a “come on over for a visit”? The best part is that we mean it sincerely.

Other recent articles that put Nashville in the national spotlight include GQ Magazine’s July article entitled “Nowville,” which covers where to stay, shop, hear music, and eat when in our great city. It includes profiles of local architects, retailers, novelists, restaurant owners, and our very own pioneering speakeasy, The Patterson House, which serves up a bacon old fashioned. Yes, you read that correctly…….and it’s delicious. The author writes that “Nashville, Tennessee used to be just a city of ten-gallon hats and the Grand Ole Opry. Now it’s the most electric spot in the South, thanks to a cast of designers, architects, chefs, and rock n’ rollers.” Food Republic also covers “21 Great Things To Eat And Drink In Nashville,” and had a hard time narrowing the list down. Hopefully, you are starting to see why now. Nashville is a special place.

Since Boyle Nashville opened our doors ten years ago, we’ve seen Nashville grow right in front of our eyes, and we feel grateful that our city has fared better than most during the economic downturn that has hit, and continues to hit, many cities very hard. Because of that, we strive to create projects and developments that will enhance this city that we love, while also continuing the Boyle legacy of creating projects that become tomorrow’s classics and stand the test of time.

So, in short, come on over y’all. There’s plenty waiting over here for you in Nashville.

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