In today’s episode, we interview Gold Investment Managements Founder and President Jonathon Gold, CFA. Our conversation covers everything you need to know about publically traded REITs, including the macro characteristics of the uncorrelated returns, the benefits of diversification within Real Estate, why publically traded real estate is in many ways superior to private markets and much more.
If you've ever been interested in Real Estate investing, this episode is a can’t miss. You don’t need millions of dollars to own a stake in the millions of square feet of Datacenters, hotels or apartment buildings across the world.
Join us to learn how this is possible.
[1:40] - What is a Real Estate Investment Trust (REIT)?
[3:20] - How does this compare with private real estate investing?
[4:15] - What forms of leverage are possible in REITs?
[6:30] - Are there obvious advantages of REITs over privately owned real estate?
[9:10] - What are the non-obvious pitfalls to watch out for with REITs?
[17:30] - What is considered the last mile of delivery?
[19:30] - What does it mean that to be marked to market?
[23:00] - Is there a price volatility myth?
[27:30] - What are the tax implications of owning REITs?
[29:30] - How can you get exposure to foreign real estate?
[30:45] - Are grocery-anchored REITs a hedge for an internet bubble?
[37:00] - Beyond Income Investors, who are REIT’s most suitable for?
“Just because something is overvalued doesn’t mean it’s going to change course.” - Jonathon Gold
Stock Names Mentioned in Podcast:
$CHP.UN - Choice Properties (Loblaws)
$EQIX - Equinex (data centers)
$DLR - Digital Realty Trust (data centers)
$SRU-UN.TO (Walmart anchored retail centers)
$DIR-UN.TO (light industrial)
$CRR-UN.TO (Grocery anchored)
$WIR-UN.TO (TSX in USD - US exposure)
Contact GIM if you’re interested in learning more here.
Joel Shackleton and Jonathon Gold work for Gold Investment Management. All opinions expressed by Joel and Broc or any podcast guests are solely their own opinions and do not reflect the opinion of Gold Investment Management. This Podcast and Substack is for informational purposes only and should not be relied upon for investment decisions. Clients of Gold Investment Management may hold positions discussed in this podcast.