Rhizome Partners' Bill Chen updates his publicly traded real estate thesis+ $AIV pitch

Yet Another Value Podcast

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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