The Distribution Edge: Education, Media, and Trust - Brad Hargreaves & Paul Stanton of Thesis Driven

Sep 26, 2025

Brad Hargreaves, a media entrepreneur and founder of General Assembly, teams up with Paul Stanton, a capital markets expert, to explore the intersection of real estate, media, and innovation. They discuss Brad's entrepreneurial evolution and how it shaped his views on real estate. Paul reveals insights on Opco-Propco structures and the common pitfalls of merging venture capital with real estate. The duo emphasizes the necessity of education and storytelling in attracting investors, while also pondering future trends like AI's impact on the industry.

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ANECDOTE

From Antique Furniture To Real Estate

Brad funded college by buying and selling antique furniture and later built General Assembly during the financial crisis.
He then started Common to solve housing needs for his students and employees, which led him into real estate and capital raising.

ANECDOTE

Pivot From Institutional To Opco Experiments

Paul described a mid-career pivot from institutional office value-add to co-working and Opco-Propco experiments inspired by WeWork.
He then founded an investment bank and began helping niche platforms raise capital before joining Thesis Driven.

INSIGHT

Why Opco-Propco Unlocks Yield

Opco-Propco models create programmatic yield by layering operating businesses on real estate to unlock 200–300 basis points.
This model favors smaller managers who can compete by embracing operational complexity rather than scale alone.

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Brad Hargreaves and Paul Stanton join Brandon Sedloff on The Distribution to explore how media, capital markets, and innovative real estate models intersect. Brad reflects on his entrepreneurial journey from General Assembly to Common and now Thesis Driven, while Paul shares his evolution from institutional real estate to coworking and investment banking. Together, they highlight why education, storytelling, and consistency are essential in building enduring businesses and attracting capital. The discussion breaks down the Opco Propco model, dives into lessons learned from venture-backed real estate, and unpacks how media and brand-building are reshaping private markets.

They discuss:

How Brad’s path from trade schools to co-living shaped his view on real estate innovation
Paul’s transition from traditional real estate to exploring Opco Propco structures and PropTech
Why venture capital is often mismatched with real estate operating companies
The role of media and education in capital raising and investor engagement
Future trends in AI, retail capital raising, and investor access

Links:

Thesis Driven - https://www.thesisdriven.com/

Brad on LinkedIn - https://www.linkedin.com/in/bharg/

Paul on LinkedIn - https://www.linkedin.com/in/pauljstanton/

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro
(01:47) - Introduction to extraordinary guests: Brad and Paul
(02:36) - Brad's journey: From antique furniture to Thesis Driven
(06:01) - Paul's traditional real estate background and pivot
(11:17) - The Opco Propco model explained
(16:41) - Challenges and lessons from venture-backed real estate
(21:09) - Building a media business: The origin of Thesis Driven
(26:27) - The importance of storytelling in real estate
(31:19) - Engaging audiences with real estate finance
(33:34) - The power of consistency in building brands
(34:50) - Leveraging social media for personal branding
(37:17) - The role of media in private real estate
(46:03) - Educational programs for real estate professionals
(49:16) - Future trends in real estate and AI
(50:56) - Effective fundraising strategies for investment managers
(57:58) - Final thoughts and contact information