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The Best Ever CRE Show

JF 4048: Capital Calls, Distressed Assets and LP Decision-Making ft. Jack Mullen

The Best Ever CRE Show

Best Ever CRE

Business, Investing, Entrepreneurship

4.7996 Ratings

🗓️ 4 October 2025

⏱️ 52 minutes

🧾️ Download transcript

Summary

On this week’s episode of Multifamily Mastery, John Casmon interviews Jack Mullen. Jack shares how his background in banking and his advisory firm, Summer Street Advisors, have positioned him to help both institutional and family office investors navigate due diligence, capital calls, and distressed real estate opportunities. They dive into how LPs should evaluate whether to reinvest in troubled deals, the pitfalls of 1980s vintage multifamily projects, and why execution—not just capital markets—separates successful operators from struggling ones. Jack also offers guidance on scaling from friends-and-family deals to institutional partnerships and emphasizes the importance of professionalism, reporting, and alignment between sponsors and LPs. Jack MullenCurrent role: Founder and Managing Director, Summer Street AdvisorsBased in: Westport, ConnecticutSay hi to them at: https://summerstreetre.com/ | LinkedIn 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 forward 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. Hey, what's going on best ever listeners?

1:23.1

I'm John Kazman and this is multifamily mastery. Listen, super excited today. We've got a great guest.

1:30.3

We are talking to Jack Mullen. Jack, how are today? Hey, John, great. Doing well. Hey, day after

1:38.1

Labor Day, trying to get everything going on a Monday. Actually, a Monday, but it's a Tuesday.

1:43.7

Yeah, man,

1:44.4

understood.

1:44.9

I got my little ones

1:45.8

running around.

...

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