Asset Backed

From the cockpit of a Navy jet to the helm of a $115M real estate fund — Matt Sandretto's path to becoming CIO of Prairie Hill Holdings is unlike any other in the alternatives space.

In this episode of Asset Backed, host Andres sits down with Matt to unpack one of the most misunderstood and underallocated corners of private markets: net lease real estate. If you've heard of multifamily or industrial but never really dug into net lease — this is the episode that changes that.

Matt breaks down:
✅ Why he walked away from private equity after discovering real estate inside manufacturing deals
✅ What a net lease actually is — and why it changes the entire risk profile for investors
✅ The Lululemon example: why owning the real estate beats owning the business
✅ Industrial tailwinds: onshoring, falling construction, and tight fundamentals in key markets
✅ Retail's secret: ~4% national vacancy after 20+ years of underbuilding
✅ Why informational arbitrage still exists in real estate — and how PHH exploits it
✅ Why single-asset syndications are dangerous for the wealth management channel
✅ How RIAs and family offices should think about a real estate allocation

Prairie Hill Holdings is the newest manager in the EnduranceX marketplace — an alternatives platform built to connect independent RIAs and family offices with institutional-quality managers that fly below the radar.

This is Episode 1 of a multi-part series. Episode 2 will go deeper into deal case studies, PHH's right to win, and how advisors can access the strategy.

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🔗 CONNECT WITH PRAIRIE HILL HOLDINGS
Website: www.prairie-hill.com
Email: investors@prairie-hill.com
LinkedIn: linkedin.com/in/matthewsandretto
Q2 2026 Quarterly Update: https://lnkd.in/dNEpw7fz

🔗 CONNECT WITH ENDURANCEX
Website: www.endurancex.io
Email: andres@endurancestrategies.com
LinkedIn: https://www.linkedin.com/in/sandate/
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⏱ TIMESTAMPS
00:00 — Intro & how EnduranceX found Prairie Hill Holdings
02:42 — Matt's background: Navy, Wharton, and buying manufacturing businesses
08:04 — The mindset shift: real estate vs. private equity risk
10:05 — The Lululemon example: owning the business vs. the real estate
13:59 — The 10x equity deal that started it all
16:27 — Informational arbitrage in real estate
29:39 — What is net lease real estate?
36:04 — Industrial tailwinds: onshoring & falling construction
41:17 — Retail's hidden strength: 4% national vacancy
45:46 — What RIAs get wrong about real estate allocation
56:09 — Portfolio approach vs. single-asset syndications
1:03:37 — What's coming in Episode 2

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#NetLease #RealEstateInvesting #AlternativeInvestments #PrivateMarkets #RIA #FamilyOffice #IndustrialRealEstate #AssetBacked #EnduranceX #PrairieHillHoldings
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⚠️ This content is for informational purposes only and does not constitute an offer or solicitation to purchase an interest in any fund. Past performance is not indicative of future results. Investment in private funds is speculative and subject to risk of loss.