Bill Chen, a real estate investor and Managing Director at Rhizome Partners, returns to the podcast to discuss the performance of publicly-traded real estate market and why it's done so well since his last podcast appearance in October 2023 + pitch on Apartment Investment & Management Co. "AIMCO" (NYSE: AIV).
For more information about Rhizome Partners, please visit: http://rhizomepartners.com/
AIV pitch deck: https://docsend.com/view/4n5xq5mc58xwhx64
Chapters:
[0:00] Introduction + Episode sponsor: Ycharts
[2:18] Capital cycle for publicly traded real estate vs. privately traded
[8:53] Five cap rate: how does it interplay with the Treasury rate?
[13:02] Publicly traded real estate company performance: have these REITs done well because of management or in spite of management
[20:11] Due diligence trips for REITs
[30:06] AIMCO $AIV - what is it and why so interesting to Bill
[36:26] What is Bill seeing that the market is missing the generates alpha in $AIV
[39:38] $AIV report card / management team
[48:02] Capital allocation / corporate governance
[53:08] Valuation
[57:31] Additional $AIV assets (besides Miami assets
[1:04:15] $AIV final thoughts
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