Why Realpage Bought Cherre
Realpage is betting that decades of accumulated data can become an AI-era advantage
Deal Structuring
Real estate deal structuring, where most failures actually originate. Thesis Driven examines capital stack design, OpCo-PropCo and platform structures, waterfalls promote and fee economics, governance control and approval rights, joint venture and partnership terms, capital call and removal provisions, exclusivity and ROFR mechanics, and the recurring structural mistakes that break otherwise good platforms.
21 articles
Structuring Real Estate Joint Ventures
A workshop for GPs on finding the right JV partner, structuring the deal, and negotiating operator-friendly terms
The Deals Developers Are Analyzing Today | Q2 2026 Edition
A quarterly read on early-stage feasibility activity with our friends at TestFit
The Thesis Driven Innovation 100, 2026 | #50–16
Meet the 100 people shaping the future of the built world, Part II
Upcoming Workshop: Structuring an OpCo/PropCo Business
A two-day interactive workshop designed for real estate operators and investors looking to structure or invest in OpCo/PropCo platforms.
Design Scalable OpCo-PropCo Models
A two-day interactive workshop for operators and investors structuring the next generation of real estate platforms
Q1 Classes: Underwriting, JVs, AI, and more
Announcing Thesis Driven's hour-long programs for the quarter
Solving the Challenges of OpCo-PropCo
A better blueprint for capitalizing innovative real estate businesses
The Biggest Structuring Mistakes Real Estate Entrepreneurs Make
Top real estate investors and advisors on the mistakes to avoid when putting together capitalizations and deals
Structuring Great OpCo-PropCo Partnerships
An overview of the major legal and structuring points in the real estate investing partnership
From Country Clubs to Sovereign Wealth Funds
Comparing six models to fund equity for real estate projects and platforms