Millennial Magazine - Features - Entrepreneurs - David Adelman American Harvest Vodka toast

David Adelman has built a career most would dream of, transforming a modest start in real estate into a multi-billion-dollar empire spanning finance, student housing, fintech, private aviation, and now the spirits industry.

Known for his strategic foresight and entrepreneurial spirit, Adelman’s ventures reflect both his business acumen and a unique ability to identify untapped markets. In an in-depth conversation on my podcast Face the Future, Adelman shared insights from his journey—from becoming CEO of Campus Apartments in his twenties to leading ventures in diverse fields.

At the heart of his latest endeavor is American Harvest Vodka, a brand he’s reimagining as a premium, American-made alternative in a market dominated by mass-produced imports. For David Adelman, American Harvest isn’t just about competing in the spirits industry; it’s about crafting a new standard.

Early Lessons: Mentorship and the Foundation of Campus Apartments

David Adelman’s journey from a young entrepreneur to a high-profile CEO and investor is nothing short of inspiring. Now leading a $2 billion empire, Adelman first stepped into the business world through mentorship. “I always say in business, having a great mentor is like…starting at third base,” Adelman shared.

His mentor, Alan Horowitz, a family friend and prominent real estate entrepreneur in Philadelphia, introduced him to the world of real estate when he was just 13. “Alan taught me the business,” Adelman explained, recounting the pivotal role Horowitz played in his career.

Adelman’s foundational venture, Campus Apartments, quickly grew under his leadership, revolutionizing off-campus student housing. As CEO at only 27, Adelman saw a unique market opportunity to scale the business nationwide, creating high-end, amenity-rich housing solutions for college students.

“Think of us as an apartment developer with a really focused clientele,” Adelman said, explaining the shift from standard dormitories to student-focused complexes equipped with pools, gyms, and even rock-climbing walls. Today, Campus Apartments serves 25,000 students across 23 states, embodying a brand that stands for quality and community.

The Entrepreneurial Spirit: Expanding into New Industries

While student housing provided a stable foundation, Adelman’s curiosity led him into new industries. “I wanted to learn other businesses. I’m curious about anyone’s business,” he remarked. This curiosity drove him to create FS Investments in 2006, aiming to provide individual investors—like teachers and firefighters—access to high-performing alternative assets usually reserved for the ultra-wealthy. Today, FS Investments manages an impressive $80 billion in assets, democratizing financial opportunities for everyday investors.

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Adelman’s ambition did not stop there. He went on to create Darco Capital, his family fund, which allowed him to explore consumer-facing investments. “I’m an entrepreneur at heart. I like the startup, I like the building,” Adelman shared.

With Darco, he invested in ventures from fintech (such as Cred.ai, a debit card that helps users build credit) to private aviation (Wheels Up), and a variety of other companies where he saw potential for disruption and growth. “I enjoy helping people think about their businesses and have invested in areas I believe can make a difference,” Adelman said.

Revolutionizing American Vodka: The Story Behind American Harvest

Despite his diverse portfolio, Adelman’s most recent venture, American Harvest Vodka, signifies a bold step into an entirely new industry. Initially a passive investor in both American Harvest Vodka and Beach Whiskey, Adelman decided to buy and rebrand the company after being approached by industry veteran Rebecca Running. “I acknowledge that people in the business have forgotten more about alcohol than I know. But sometimes that gives you an advantage to ask questions,” Adelman said.

Adelman recognized an untapped market for premium, American-made vodka. “There’s virtually only one major player in American vodka, but I don’t agree that vodka should be colorless, odorless, tasteless. If it’s good, it’s smooth,” Adelman observed, taking a stand against the perception that all vodkas taste the same.

Through American Harvest, he’s bringing a new level of quality to the category, with a unique commitment to organic ingredients sourced from Idaho’s Snake River region and partnerships with farmers he personally knows.

This commitment to creating a craft spirit led to some creative decisions in branding. “I couldn’t understand why all vodka bottles on the back of the bar have a white label,” Adelman noted.

Determined to create a memorable brand, he redesigned the American Harvest bottle, embossing it and making it aesthetically pleasing enough to serve as a water bottle after use. “I just wanted to do something fun, a little more responsible, that bartenders would find comfortable and customers would notice.”

Millennial Magazine - features - entrepreneur - American Harvest Vodka

© American Harvest Vodka

Building Brand Partnerships and the Power of Presence

Adelman’s approach with American Harvest isn’t just about creating a product but building connections through personalized brand experiences.

From securing a place on cocktail menus at exclusive clubs like Zero Bond to tastings at prestigious restaurants like Mastro’s and Capital Grille, Adelman emphasizes that each relationship is critical to his brand’s growth. “These partnerships take time…we want to show our partners that we’re going to support them,” he said.

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Being a hands-on leader, Adelman actively participates in tastings and events. “This isn’t just some rich guy who got bored and wanted to get into alcohol,” he shared. For Adelman, putting a personal touch on his brand interactions helps American Harvest stand out in a crowded market.”

All I want to do is show the people that are taking a chance on us that I’m personally committed to it,” he explained. Adelman’s focus on authenticity extends to his choice not to involve celebrity endorsements, instead allowing the product’s quality and story to speak for itself.

Innovation in Mixology: Bringing Creativity to Cocktails

Adelman’s commitment to fostering creativity in the vodka space is clear, particularly through collaborations with mixologists. “When you meet different mixologists and ask them to create something unique with American Harvest, it’s incredible what they come up with,” he said.

Adelman encourages bartenders to innovate, whether it’s an American Mule or a unique twist on an espresso martini. This focus on creativity allows American Harvest to cater to discerning drinkers looking for a refined experience.

Even as the zero-proof trend grows among Gen Z, Adelman sees an opportunity. “Some people may not drink, but there’s still an appreciation for the artistry behind a well-crafted cocktail,” he explained. This mixology-driven approach helps American Harvest build a brand identity that resonates with customers and stands out from mass-market competitors.

Scaling Up: National Distribution and a Long-Term Vision

While Adelman emphasizes American Harvest’s boutique appeal, he’s not limiting its growth potential. “Distribution is really important in this business,” he explained, noting partnerships with major distributors like R & DC and retail outlets such as BevMo. Through these channels, American Harvest is positioned to reach a wider audience while maintaining its premium identity.

Rather than rapid expansion, Adelman is focusing on quality growth. “We’ve been at this about two years…Distribution was key, but now we’re rolling out city by city, building our presence in places like New York, LA, and Miami,” he said. This measured approach allows him to sustain the brand’s exclusivity while establishing a loyal customer base.

When asked about potential festival sponsorships or stadium placements, Adelman acknowledges he’s selective, opting for venues where the brand’s aesthetic aligns. “We’re in places like the Prudential Center and exclusive events like Aspen Food & Wine,” he shared, reinforcing the brand’s high-end image.

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David Adelman’s Philosophy of Learning and Resilience

With a history of growth and innovation, Adelman’s business philosophy is rooted in humility and a willingness to learn. “Failing is okay…Don’t be afraid to ask for help,” he shared.

Adelman’s approach emphasizes learning from mistakes—both his own and those of others. “I want everyone to make a mistake because if you don’t, you’re not trying hard enough…just don’t make the same one twice,” he added, underscoring his belief in calculated risk-taking.

One of Adelman’s most valuable lessons came early in his career when he allowed personal feelings to interfere with a property acquisition. “I let my emotions get in the way of my business objective, and it cost me the deal,” he recounted. This experience taught him to focus on results rather than personalities, a lesson that continues to guide his work today.

Another cornerstone of Adelman’s approach is surrounding himself with people who challenge him. “If you’re the smartest guy, you’re in the wrong room,” he remarked. By hiring individuals with complementary strengths, Adelman ensures that each venture is driven by collective expertise, not individual ego.

American Harvest and Beyond: A Legacy of Innovation

American Harvest Vodka is not just another investment for David Adelman; it’s a legacy project that reflects his dedication to quality and innovation. As he builds out American Harvest’s presence in the premium spirits industry, Adelman remains as committed to his values as he was at the start of his career: hard work, integrity, and a relentless curiosity about the world of business.

“There’s a bottle of American Harvest waiting for you on a rough day,” he said with a smile, confident that his latest venture will leave a lasting mark. With each new project, whether it’s in real estate, finance, or spirits, Adelman brings a unique vision that challenges the status quo. His advice to entrepreneurs speaks volumes: “There’s no shortcut to success. You just need a few more wins than losses.”

Through decades of growth and countless ventures, Adelman has learned that the road to success is never linear. But with the right mindset and a commitment to continuous improvement, his journey exemplifies how the entrepreneurial spirit can break boundaries and redefine industries, one business at a time.