The REdirect Podcast

The REdirect Podcast

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Brought to you by Lightstone DIRECT, the REdirect podcast goes beyond market commentary to unpack how value is created across asset classes from the perspective of a $12B+ AUM real estate owner and operator. Through in-depth conversations with investors, founders, and industry leaders, we go behind the scenes of institutional real estate investing and discuss how individual investors can adopt an institutional real estate investing mindset.

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Episode 6

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How to Cut Through the Noise in Today's Real Estate

In this episode, Richard Barkham joins hosts Jonathan Spitz and Storm Murphy to talk through where we are in the real estate cycle, what risks investors should be paying attention to, and where the best opportunities are today.

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Richard Barkham spent over a decade as Global Chief Economist at CBRE, leading a research team of nearly 600 people. In this episode, he discusses why he is more cautious today than he was a year ago and what current pricing is actually telling investors. The conversation covers why the housing shortage makes multifamily the cleanest place to invest right now and where the long-term opportunity sits in downtown urban cores as offices convert to housing. Richard also takes on the "wall of maturities" narrative and explains why those headlines rarely play out the way people expect.

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Listen to the full discussion on your preferred streaming platform:

🎧 Spotify

🎧 Apple Podcasts

🎧 YouTube

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Episode 5

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The Apartment REIT Disconnect & Where the Next Housing Opportunity Lies

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.

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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.

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Listen to the full discussion on your preferred streaming platform:

🎧 Spotify

🎧 Apple Podcasts

🎧 YouTube

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Episode 4

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Data Centers, Logistics, and Why Office Isn't Dead

Richard Hill is back with more insights in episode four of the REdirect podcast — this time he brings more specific and actionable insights for CRE investors.

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Informed by over two decades of experience across derivatives, capital markets, and research, Richard highlights markets poised for growth, what real estate metrics investors should consider, and why tiering across property type and quality now dominates performance.

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Listen to his full discussion on your preferred streaming platform:

🎧 Spotify

🎧 Apple Podcasts

🎧 YouTube

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Episode 3

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Is the CRE Debt Maturity Wall Beginning to Break?

In this episode of the REdirect podcast, hosts Jon Spitz and Storm Murphy sit down with Richard Hill, Senior Managing Director and Global Head of Real Estate Research & Strategy at Principal Asset Management, for an in-depth conversation on the state of commercial real estate.

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Richard brings a perspective rooted in debt capital markets, CMBS trading, and nearly two decades of institutional research. He shares his insights on CRE cycles, what’s driving the current recovery, which asset classes and markets he sees opportunities in, and what risks investors should look out for.

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Listen to his full discussion on your preferred streaming platform:

🎧 Spotify

🎧 Apple Podcasts

🎧 YouTube

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Episode 2

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How Lightstone Thrives in Dislocated Markets

In this episode of REdirect, host Jonathan Spitz speaks with Sanford Blumenthal, SVP of Lightstone, to share insights on capitalizing on every phase of the market cycle, Lightstone's underwriting mindset, and where the biggest opportunities lie during moments of market volatility.

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Sanford has led more than $3 billion in acquisitions, developments, and financings across residential, hospitality, office, industrial, retail, and land assets at Lightstone. With over 15 years of experience in commercial real estate and investment finance, he specializes in sourcing and executing opportunistic deals with complex capital structures.

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Listen on your preferred streaming platform:

🎧 Spotify

🎧 Apple Podcasts

🎧 YouTube

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Episode 1

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Investing vs. Speculating: Lightstone's Real Estate Investment Strategy

In the first episode of REdirect, host Storm Murphy sits down with Greg Fink, Managing Director at Lightstone, to discuss the history of Lightstone, our investment strategy for underwriting deals, and where we see opportunity going into 2026. ‍

Listen on your preferred streaming platform:

🎧 Spotify

🎧 Apple Podcasts

🎧 YouTube