Brad Thomas - The Intelligent REIT Investor Guide

Sam Zell Founder and Chairman of Equity Group Investments

“In just 30 years, the REIT market has grown to a diverse $2 trillion global opportunity. Yet there remain a great number of misconceptions about the nature and behavior of equity REITs. Brad Thomas’ book provides readers a wealth of tools and insights to appreciate – and potentially profit from – this asset class.”

Joseph M. HarveyPresident of Cohen & Steers

“Brad Thomas has been guiding REIT investors through many economic cycles. His common‐sense, bottom‐up approach identifies the financial, operational, and strategic characteristics that separate winners and losers over the long term. This book is an essential overview for anyone looking for the tools for success investing in REITs.”

Paul E. Adornato CFA, veteran REIT analyst

“In this book, Brad Thomas continues to display his in‐depth knowledge and expertise of the REIT industry. Through several decades of interviews and discussions with the top management of many major REITs, detailed research into the industry… and his own experience as a commercial real estate developer, Brad brings a unique insight and perspective to the world of REITs.”

Dave HenryBoard member of several large REITs, former Kimco CEO, former ICSC chairman, former vice chair of Nareit

“By publishing this book, Brad Thomas is allowing the general public to have access to his many years of successful professional expertise in listed real estate… [that] will help generations of individual investors to profit from a very attractive and diversified class of stocks.”

Eric Nemeth Private equity investor, independent board member

“The structure of a REIT is generally and essentially simple: Collect rent and distribute rent after debt service and basic corporate expenses to equity owners as dividends. But the general simplicity and similarity of the REIT structure in some ways makes it harder to distinguish a good REIT from a mediocre REIT.”

“To make those distinctions and thus to make the right investment decisions takes investigative work, historical knowledge, and actionable insight. Brad Thomas works the REIT field energetically and diligently, and anyone who follows his work acquires a big advantage in understanding America’s REITs.”

Edward B. Pitoniak CEO of VICI Properties

“Brad has been a voice of reason in the REIT space for many years. This book provides a comprehensive guide to REIT investing.”

Jonathan Litt Founder and CIO at Land & Buildings Investment Management

“Brad has been a longtime follower of REITs and a contributor to the growth of the REIT industry. He has a broad knowledge of the industry, deep connections, and an intellectual curiosity that help shine a light on this often misunderstood investment vehicle. One of Brad’s mentors, Ralph Block – to whom the book is dedicated – was not only one of the greatest gentlemen I’ve had the pleasure of knowing, but also a disciple and true visionary of the REIT industry.”

Craig Robinson CEO of GSI Capital Advisors

“The Intelligent REIT Investor Guide is the definitive and comprehensive resource for investing in real estate investment trusts. Brad uses his in‐depth knowledge from his 25 years of experience in the business to offer unique insight and provide an invaluable resource for both novices as well as sophisticated professional investors.”

Randy Blankstein President of The Boulder Group

“Brad Thomas has once again delivered a highly accessible roadmap to investing in the REIT sector. In addition to the foundational overview of REIT valuation, performance measurement, and portfolio construction, this new volume tackles current innovations, including the growth of technology and specialized REITs and the pandemic’s impact on real estate.”

Sam Chandan Silverstein chair and Dean of the NYU Schack Institute

“Brad Thomas’ book provides a comprehensive overview of REIT investment, from the basic concepts of what REITs are and why they belong in investors’ portfolios, to more advanced subjects like understanding REITs’ financial statements. It’s a highly useful source of information on REITs and the REIT marketplace for beginning and more advanced investors alike.”

Steven A. Wechsler President and CEO of Nareit

“Whether you’re an experienced investor or a novice investor, this is a MUST READ book for anyone exploring REIT investing or education. As Ben Graham is known as an icon for value investing, Brad has become an icon in REIT investing.”

Jonathan Hipp Principal of U.S. Capital Markets, head of U.S. Net Lease Group

“Brad Thomas has gained a well‐deserved reputation as the pre‐eminent REIT expert of our time and has compiled this comprehensive book on all aspects of investing in REITs. Whether you are new to REITS or well‐versed in the sector, this is a must‐read.”

Alex Bossert Founder and Portfolio Manager of Bossert Capital

“Brad is a dedicated and thorough REIT connoisseur who has been following the sector and companies [in it] for decades. His insight has helped Main Street investors navigate events.”

Floris van Dijkum Managing Director, REITs of Compass Point Research & Trading

“The world is fascinated by the opportunity to invest in real estate but is often overwhelmed by the world of REITs. Brad has been a leading resource in the REIT industry; and his The Intelligent REIT Investor Guide provides an incredibly useful roadmap for the benefits of REITs, the differences between REIT asset sectors, and the unique investment characteristics that REITs exhibit. REITs are a notable opportunity for diversified real estate investments within the stock market, and Brad’s book is a must‐read for anyone considering allocating a portion of their investment portfolio into REITs.”

Michael Riopel Assistant General Counsel at Northwestern Mutual

“ The Intelligent REIT Investor Guide is a must‐read for any investor who wants a great introduction and guide to REIT investing. A timely publication for those looking to REITs for income, an inflation hedge, and dedicated to REIT legend Ralph Block, to boot! Well done, Brad!”

Tom Lewis Former CEO of Realty Income

“Brad has produced another excellent textbook on REITs for those seeking a solid foundation. The book provides a valuable resource, giving students the definitions and descriptions they need as we build from there.”

J. Morris Professor at Georgetown University, founder of REIT Academy

“Brad Thomas has taken the mystery out of investing in REITs. The Intelligent REIT Investor Guide is a timely and useful guide to navigating this often overlooked asset class.”

Greg Morillo Managing Partner at Lionbridge Capital, L.P.

“From the basics to how to think about analyzing and investing in REITs, this book offers a valuable perspective for investors of any experience level.”

Brian Nelson CFA, President of Valuentum Securities, Inc.

“Brad’s skillful guide to the world of REIT investing is a must‐read for anyone considering sustainable liquid real estate investments. His deep knowledge of commercial real estate combined with the constant study of REITs is a combination producing rich takeaways.”

Michael Bull CEO of Bull Realty

“I worked with Brad as a development partner in my firm and have always been awestruck by his creativity and grasp of capital and markets.”

Ed Kobel President of DeBartolo

“Brad Thomas is one of the most trusted voices in real estate investing. REIT investors who follow Brad’s research and analysis have benefitted from consistent dividends and long‐term value creation.”

Brad Watt President and managing partner at Petra Capital Properties