Button Text
Log out
Blog Home
→
→
Podcast

[Podcast] Episode 5: The Apartment REIT Disconnect & Where the Next Housing Opportunity Lies

0:00
WRITTEN BY
PUBLISHED ON
Lightstone DIRECT Team
April 16, 2026
April 15, 2026
IN THIS ARTICLE
Text Link
Text Link
Text Link
Text Link
Text Link
TAGS
Market Perspective

In this episode, John Pawlowski joins hosts Jonathan Spitz and Storm Murphy for a deep dive into one of today's most compelling market dislocations: apartment REITs trading below their net asset value.

‍

Drawing on his experience as a Managing Director at Green Street, John explains why public and private real estate are telling contradictory stories, how government-backed financing is skewing valuations, and what the wave of REIT privatizations signals for forward-looking capital allocation. The conversation takes a closer look at how investors should be interpreting NAV discounts and where opportunity exists today.

‍

Listen to the full discussion on your preferred streaming platform:

🎧 Spotify

🎧 Apple Podcasts

🎧 YouTube

FREQUENTLY ASKED QUESTIONS
Industrial
What asset types are offered through Lightstone DIRECT?

Once you have created and verified your account, all live offerings are accessible from your investor dashboard. Each offering page includes a comprehensive set of materials to support your due diligence, including an investment summary, key financial projections, deal terms, and relevant legal documentation. You may review these materials at your own pace prior to making any investment decision. If you require additional information beyond what is provided on the offering page, you may submit an inquiry directly through the platform and a member of the Lightstone DIRECT team will respond accordingly.

What is the typical hold period of an investment?

Once you have created and verified your account, all live offerings are accessible from your investor dashboard. Each offering page includes a comprehensive set of materials to support your due diligence, including an investment summary, key financial projections, deal terms, and relevant legal documentation. You may review these materials at your own pace prior to making any investment decision. If you require additional information beyond what is provided on the offering page, you may submit an inquiry directly through the platform and a member of the Lightstone DIRECT team will respond accordingly.

Multifamily
How do I access and review the details of a live offering on Lightstone DIRECT?

Once you have created and verified your account, all live offerings are accessible from your investor dashboard. Each offering page includes a comprehensive set of materials to support your due diligence, including an investment summary, key financial projections, deal terms, and relevant legal documentation. You may review these materials at your own pace prior to making any investment decision. If you require additional information beyond what is provided on the offering page, you may submit an inquiry directly through the platform and a member of the Lightstone DIRECT team will respond accordingly.

What is the early funding incentive?

Lightstone DIRECT is a private investment platform that provides accredited investors with access to institutional-quality real estate offerings. The platform is designed to simplify the process of evaluating, committing to, and managing private real estate investments through a single, secure digital environment.

What is the minimum investment amount for deals on the platform?

Lightstone DIRECT is a private investment platform that provides accredited investors with access to institutional-quality real estate offerings. The platform is designed to simplify the process of evaluating, committing to, and managing private real estate investments through a single, secure digital environment.

Multifamily
What are the eligibility requirements to invest on Lightstone DIRECT?

Lightstone DIRECT is a private investment platform that provides accredited investors with access to institutional-quality real estate offerings. The platform is designed to simplify the process of evaluating, committing to, and managing private real estate investments through a single, secure digital environment.

How does Lightstone DIRECT differ from other private investment platforms?

Lightstone DIRECT is a private investment platform that provides accredited investors with access to institutional-quality real estate offerings. The platform is designed to simplify the process of evaluating, committing to, and managing private real estate investments through a single, secure digital environment.

Industrial
When was Lightstone founded?

Lightstone DIRECT is a private investment platform that provides accredited investors with access to institutional-quality real estate offerings. The platform is designed to simplify the process of evaluating, committing to, and managing private real estate investments through a single, secure digital environment.

Multifamily
What is Lightstone DIRECT?

Lightstone DIRECT is a private investment platform that provides accredited investors with access to institutional-quality real estate offerings. The platform is designed to simplify the process of evaluating, committing to, and managing private real estate investments through a single, secure digital environment.

Lightstone DIRECT Team
No items found.
COMPANY
How It Works
INVESTMENTS
Multifamily Investments
About Us
Industrial Investments
Contact
OPEN INVESTMENTS
Hidden Lakes Apartments
Log in
Education
All Resources
Whitepapers
© Lightstone DIRECT 2026
Privacy Policy
Terms of service
*Past performance does not guarantee future results. All investments carry riskThis material is confidential, may be subject to legal privileges. Any use, duplication, disclosure or dissemination of this material is strictly prohibited and may be in violation of law. If you have received this material in error, please notify the sender immediately and delete or destroy this communication and all copies.

This material is for informational purposes only and does not constitute: (i) an offer to sell or a solicitation of an offer to purchase any interest in any investment vehicles managed by any business unit of the Company; or (ii) an acceptance to enter into any binding contract, agreement, or understanding. The Company does not accept any responsibility or liability arising from the use of this communication.

All documents intended for execution, including contracts, must be submitted to the Company's Legal Department for review and approval and signed by an officer of the Company; or made pursuant to the Company's approved contract execution procedures. The Company DOES NOT use or accept electronic signatures. By accepting this communication, you specifically waive your right to claim any action pursuant to the Electronic Signatures in Global and National Commerce Act ("E-Sign"), 15 U.S.C. §7001 et seq., the Uniform Electronic Transactions Act ("UETA"), and any State or local law similar to E-Sign or UETA.

This material may contain highly confidential information regarding The Lightstone Group, LLC and Beacon Property Management LLC and their respective subsidiaries, affiliates, investments, strategy, and/or organization
(collectively, the "Company"). Your acceptance of this material from the Company constitutes your agreement to: (i) keep confidential all the information contained in this material, as well as any information derived by you from the information contained in this material (collectively, "Confidential Information") and not disclose any such Confidential Information to any other person; (ii) not use any of the Confidential Information for any purpose other than pursuant to your relationship with the Company; (iii) not copy any Confidential Information without the Company's prior written consent; and (iv) promptly return any Confidential Information contained in this material to the Company upon the Company's request.

No representation is being made that the Confidential Information presented is accurate, current or complete, and such Confidential Information is at all times subject to change without notice. Opinions expressed may differ or be contrary to the opinions and recommendations of a Company business unit.

The Company does not provide legal, accounting or tax advice. Any statement regarding legal, accounting or tax matters was written in connection with the explanation of the matters described herein and was not intended or written to be relied upon by any person as definitive advice. Any discussion of U.S. tax matters contained within this material is not intended to be used and cannot be used for the purpose of avoiding penalties that may be imposed under applicable federal, State or local tax law or recommending to another party any transaction or matter addressed herein. Each person should seek advice based on its particular circumstances from independent legal, accounting and tax advisors regarding the matters discussed in this material.