Master the OpCo-PropCo Model

A 3-hour interactive workshop for operators and investors structuring the next generation of real estate platforms

Want to check out our next OpCo-PropCo workshop? Sign up here.

Some of the most innovative real estate companies of the past decade failed because they misunderstood one thing: structure.

They had visionary teams. Bold ideas. Massive capital behind them.

But they didn’t understand the relationship between real estate operations and asset ownership. They built operating companies without real estate. Or real estate companies without scalable operations. They raised the wrong kind of money from the wrong kind of investors. They negotiated terms that forced growth at all costs. And they collapsed under the weight of misaligned capital structures.

WeWork. Sonder. Lyric. Selina. The list is long.

Each had a real business hiding inside. Each could have been structured to scale sustainably. But instead of building long-term value, they built ticking clocks.

It doesn’t have to be this way.

At Thesis Driven, we believe the OpCo-PropCo model isn’t just a structure—it’s a strategy. And when done right, it creates the foundation for durable, capital-efficient, and investor-aligned real estate platforms.

Introducing the OpCo-PropCo Structuring Workshop

A 3-hour interactive workshop designed for operators, entrepreneurs, and investors who are building real estate-backed businesses—and want to get the structure right from the start.

This is not a passive lecture. It’s a hands-on session that blends real-world case studies, capital stack walkthroughs, and investor-aligned frameworks you can apply to your own company immediately. Whether you’re launching a hospitality concept, expanding a logistics platform, or investing in an emerging alternative asset class, this workshop will give you the tools to build smarter, more investable deals. Sign up here for the April 10th workshop.

In this workshop, you’ll learn:

• How and why businesses separate real estate from operations—and what investors want from each side of the deal

• How to structure capital stacks that attract both growth and real estate capital, including leasebacks, JVs, and hybrid approaches

• Common structuring mistakes that tank deals and scare off capital—so you can avoid them

• How to map your own OpCo-PropCo opportunity—defining cash flow splits, investor alignment, governance, and capital raising strategy

Plus a deep dive into case studies of iconic wins and painful failures, including:

• McDonald’s – the ultimate PropCo play and how land control built an empire

• WeWork – the $47B cautionary tale in ignoring real estate fundamentals

• Lineage Logistics – how OpCo/PropCo structuring unlocked one of private equity’s biggest cold storage plays

Who is this for?

This workshop is built for real estate entrepreneurs who want to raise capital for platforms—not just projects. For investors looking to understand the difference between a hospitality brand and a PropCo lease. And for anyone who’s building something real—and wants to build it to last.

Format & Cost

The workshop is 3 hours, delivered virtually in a live, interactive format. Students will walk away with hands-on frameworks, examples, and peer feedback on their own structuring strategy. The cost is $399.

The next session is on April 10th from 12-3pm EDT. Sign up.

Students who cannot make the live session will still have access to a recording of the course.

—Brad Hargreaves and Paul Stanton