A two-day interactive workshop exploring how we at Thesis Driven evaluate emerging real estate business models—and some of the best opportunities we see for 2026:

​📅 Wednesday, December 17: 12:00–1:30pm ET
📅 Thursday, December 18: 12:00–1:30pm ET

​Both sessions will be recorded and shared with all participants.

​About the Workshop

​Across two 90-minute live sessions, Brad Hargreaves and Paul Stanton teach the frameworks they use to evaluate new real estate categories—how to assess growth potential, understand downside risks, judge scalability, and determine which business models have a path to institutional capital.

​This is essential for both investors exploring new categories as well as operators aiming to understand how investors will hear their pitch and evaluate their asset class.

​We’ll use case studies from categories like Surf Parks, Outdoor Hospitality, Data Centers, Urban Membership Clubs, Golf Course Roll-Ups, STR / Investment Homes, Boutique Office, and additional niches we’re tracking into 2026.

​Alongside walking through these emerging asset classes, we’ll teach you how to think about and frame:

• ​Revenue drivers & margin structure
• ​Operating models & OpCo/PropCo splits
• ​Underwriting risk & sensitivity traps
• ​Barriers to institutionalization
• ​Pricing power, volatility, and scalability
• ​What makes an operator “fundable”

​You’ll learn to decode any niche by understanding the underlying business model—not just the asset class.

​Participants ongoing access to our Circle community with model templates, case studies, and all session recordings.

​You’ll Learn How To:

​Evaluate New Business Models with a Repeatable Framework
Understand how Brad & Paul break down any category: margin structure, utilization curves, OpCo/PropCo economics, return hurdles, risk premiums, and scalability constraints.

​Assess Growth Potential & Scalability​
What signals that an asset class can go institutional—versus staying a niche, local, or hobbyist category.

​Identify Downside Risks & Underwriting Traps‍
How to analyze volatility, sensitivity risks, FX exposure, membership churn, seasonality, power costs, construction risk, and operator-level fragility.

​Price the Business Model
Learn what drives yield in each category:

• ​RevPAR vs. ADR
• ​ARPU & membership economics
• ​Green fees & F&B margins
• ​Power density pricing
• ​Land cost ratios
• ​TI exposure
• ​Operating intensity scoring

​Analyze Which Opportunities Fit a Strategy
​Explore how investors match asset-class fundamentals to:

• ​Capital base
• ​Risk profile
• ​Team & ops capacity
• ​Geographic focus
• ​LP preferences

​Study Real Case Studies (Wins & Losses)
Break down why certain operators scale and others fail—and what today’s realistic pricing and returns look like.

​​Frequently Asked Questions

​Will students receive materials?
​Yes—slides, pre-reads, case studies, underwriting examples, and pricing templates.

​Will recordings be available?
​Absolutely. All registered attendees receive recordings even if you can’t attend live.

​Do I need prior background?
​No. This workshop is built to help emerging sponsors, investors, and experienced operators build fluency in evaluating new categories with sophistication and rigor.