Commercial Real Estate Summit: December 2025 Recap

Event at a glance

• Date: Thursday, December 11, 2025, 6:00 to 8:00 PM
• Location: 7401 Metro Blvd, Edina, MN 55439
• Format: moderated panel Q&A, followed by open networking
• Cost: free and open to the public

The panel

• Daniel Kurkowski, CEO of Obsidian Group and CIO of Onyx Strategic Partners, who started as a real estate broker and has acquired roughly 500,000 square feet.
• Rafik Moore, CEO of Brait Capital, a Twin Cities firm that acquires, finances and repositions commercial real estate.
• Kurt Pauley, Vice President of Multifamily and Investment Sales at NAI Legacy, representing sellers of apartment and mixed-use properties.

Read full bios on our speakers page.

What the panel covered

• How commercial real estate differs from residential investing
• Cap rates, NOI and how to underwrite a commercial deal
• Finding and financing your first commercial property
• Where the opportunities are in the Twin Cities commercial market

Photos are on the event page.

Frequently asked questions

What is a cap rate?

A cap rate is a property's net operating income (NOI) divided by its price. It shows the yearly return a property would produce if bought with cash, and it is a common way to compare commercial deals.

Who spoke at the December 2025 MNREC summit?

Daniel Kurkowski of Obsidian Group and Onyx Strategic Partners, Rafik Moore of Brait Capital, and Kurt Pauley of NAI Legacy.

Is the Minnesota Real Estate Club free to attend?

Yes. MNREC events are free and open to the public, thanks to our sponsors.

Where are MNREC events held?

Events are currently held in the evening at 7500 Flying Cloud Dr, Eden Prairie, MN. See upcoming events for the next date.

Register for the next Minnesota Real Estate Club event.