On this episode of the Chit Chat Stocks Podcast, Ryan and Brett talk with Phil Bak on all things Real Estate funds and Blackstone's BREIT story. We discuss:

(00:00) Introduction and Background

(02:32) Misconceptions about REITs

(04:29) Armada Investors: A Quantitative Approach

(07:46) HAUS: Pure Play Exposure to Residential Real Estate

(12:10) REAL: A Multi-Factor Approach to Real Estate Investing

(15:27) The BREIT Controversy

(30:53) The Issues with BREIT: Elevated NAV, Redemptions, and Fake Dividends

(37:15) Strategies to Address the BREIT Situation: Selling Properties and Raising New Money

(40:25) The Material Impact of BREIT on Blackstone

(45:10) The Logic of the BREIT Structure: Promising Liquidity in Illiquid Assets

(47:42) The Importance of Understanding the Risks of Private Market Real Estate

FIND MORE OF PHIL's WORK

https://philbak.substack.com/

https://www.armadainvestors.com/

https://x.com/philbak1

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Disclosure: Chit Chat Stocks hosts and guests are not financial advisors, and nothing they say on this show is formal advice or a recommendation.

Fake Dividends? Finding The Truth About BREIT With Phil Bak (Ticker: BX)

Chit Chat Stocks