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The Best Ever CRE Show

JF 4046: Private Credit Alpha, Cannabis Lending and Regulatory Moats ft. Peter Sack

The Best Ever CRE Show

Best Ever CRE

Business, Investing, Entrepreneurship

4.7996 Ratings

🗓️ 2 October 2025

⏱️ 55 minutes

🧾️ Download transcript

Summary

On this week’s episode of the Passive Income Playbook, Pascal Wagner interviews Peter Sack. Peter, Managing Partner at Chicago Atlantic, dives deep into how his firm has deployed over $2 billion across private credit, cannabis lending, and institutional-grade real estate through both public and private funds. He breaks down what makes cannabis lending such an attractive risk-adjusted opportunity, the mechanics of private credit versus equity, and how regulation and legalization could reshape the market. Peter SackCurrent role: Managing Partner, Chicago AtlanticBased in: Miami, FloridaSay hi to them at: https://www.chicagoatlantic.com/ | LinkedIn | investors@chicagoatlantic.com This is a limited time offer, so head over to aspenfunds.us/bestever to download the investor deck—or grab their quick-start guide if you’re brand new to oil and gas investing. Get 50% Off Monarch Money, the all-in-one financial tool at www.monarchmoney.com with code BESTEVER Join the Best Ever Community  The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It’s free to join, but you must apply and meet the criteria.  Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at ⁠www.bestevercommunity.com⁠ Podcast production done by ⁠Outlier Audio⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

You've probably noticed this. Despite all the headlines about record investment in renewables,

0:04.8

the world still runs on oil. In fact, demand keeps climbing. But here's what most investors don't

0:10.8

realize. A lot of institutional capital has actually pulled back from oil and gas because of

0:15.8

ESG mandates and political pressure. That's created a huge gap in production and a big opportunity for

0:22.1

individual investors. That's where Aspen's oil and gas fund comes in. Their last fund has

0:27.4

delivered six straight quarters of 15% annualized cash yield from producing oil wells. With their

0:33.3

current fund, they're targeting 29% cash on cash returns in over 10 years and 8.83 times equity

0:39.9

multiple. I've personally been impressed with the way Aspen approaches a space balancing the

0:45.1

stability of producing wells with the upside of carefully selected drilling projects. And here's a

0:50.7

bonus for best ever listeners. Aspen has lowered their minimum investment from $150,000

0:55.8

down to $100,000. One of their investors, Terry, put it best. We were new to oil and gas

1:02.1

investing and quickly found Aspen's approach sound. We've been very satisfied with the experience

1:07.6

and delighted with the returns. This is a limited time offer, so head over to

1:11.9

Aspenfunds.us.U.S.FestHusbord slash best ever to download the investor deck or grab their

1:17.7

quick start guide if you're brand new to oil and gas investing. Private credit is exploding,

1:24.2

and a few firms sit at the intersection of both public and private capital quite like

1:30.4

Chicago Atlantic. And in this episode of the passive income playbook on the best ever CRE show,

1:36.1

I sit down with Peter Sack managing partner of Chicago Atlantic to explore how his firm has

1:42.9

deployed over $2 billion across private credit,

1:48.5

cannabis lending, and institutional grade real estate assets through a mix of both private

1:53.4

and public funds. They've got two tickers on the NASDAQ. So in this episode, we'll break down private credit and how cannabis lending

2:03.4

is a part of that for them. Differences between investing in a private fund, a REIT and maybe a

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