This week, we look at Texas billionaire Tilman Fertitta’s $18B megadeal for the Caesars entertainment empire - this is really an excuse for us to talk Tilman, one of the industries "C"haracters. Next, we dive into CoStar’s $800M acquisition of home-data firm Zonda – part of Andy Florance’s quest to control every piece of data in the real estate universe. And finally, it might be curtains for prominent multifamily developer ZOM Living , who we’re told is prepping a bankruptcy filing. Plus, our Pu...
Jun 03, 2026•36 min•Ep. 63
This week, we talk fear and loathing in interest rates : The 10Y and 5Y are going haywire and threaten to knock CRE's recovery off-kilter. Next, we discuss nepo babies running the asylum at Newmark: Howie Lutnick’s son Kyle has decided it’s his time to shine. And finally, we have to revisit one of the strangest sagas we’ve discussed on here: Floyd Mayweather is now throwing haymakers at his former confidant Jona Rechnitz in an explosive $175M lawsuit. Plus, our Punch List rundown of the newsiest...
May 28, 2026•40 min•Ep. 62
In this special episode , we dive deep into the story of JMB Realty Corporatio n, one of the most influential firms in the modern history of CRE, with a playbook and an alumni network that continue to shape the industry today. You could argue that if JMB didn’t exist, real estate syndication would look very different today. M&A would look very different today. Hell, even the Heavenly Bed wouldn’t exist. From its humble beginnings as a glint in the eyes of Neil Bluhm, Judd Malkin and Robert J...
May 20, 2026•36 min•Ep. 61
This week, we dive into Sunbelt multifamily kingpin’s Scott Everett's ( S2 Capital ) audacious attempt to save his distressed portfolio via a private REIT – an attempt coming apart in real time. It's an opportunity for us to discuss the Sunbelt ZIRP-fueled boom/bust, the broader syndicator reckoning and how figuring out how to survive is sometimes all you can do. It’s then time to talk fathers and sons – a long-stalled FiDi site at 8 Carlisle may finally see salvation after lender Maxim Capital ...
May 13, 2026•33 min•Ep. 60
This week, we discuss multifamily’s mega-marriage of convenience : After getting no love from the Street for being merely huge, multifamily REITs Equity Residential and AvalonBay are considering a merger. Will overuses the word “tectonic,” but it really does apply here, so we’re going to dive in as deep as we can. We then leave the public markets behind for a telenovela playing out at an old-school Miami real estate family: major developer Terra Group’s David Martin is being accused of playing t...
May 06, 2026•35 min•Ep. 59
This week, we have the this-is-too-weird-to-be-real tale of Forge Atlanta , a $3.8 billion megaproject with the most bizarro development team and history we’ve ever come across for a project of this scale. We know ground-up is smoke and mirrors even on a good day, but this is NEXT LEVEL. We then slip into linen trousers and head to the embattled sun-kissed shores of hospitality giant Aman , where the involvement of a mysterious international fugitive has caused all sorts of drama between Aman an...
Apr 29, 2026•37 min•Ep. 58
This week, we finally tackle the story of Mark Nussbaum – the real estate attorney who became the nexus of the underground Orthodox CRE dealmaking world, facilitating hundreds of millions of dollars in deals and " show capital " before it all collapsed spectacularly in a wave of lawsuits, criminal fraud allegations, and even the suicide of a close collaborator, Mendy Steiner . Nussbaum's tale is a lens into the gray economy of the frum , where huge deals are often done on a handshake and under t...
Apr 22, 2026•39 min•Ep. 57
"Property management companies made my spreadsheets lie." "We're gonna move the pref to a 17. Okay, okay, Tom. You're fucking me right now. You know that, right?" This week, we break protocol to bring you a no-holds-barred interview with the poster child of the Sunbelt syndicator boom/bust , Alan Stalcup of GVA Management . Fueled by OPM, ZIRP, and an insatiable appetite for deals, Stalcup rode to the very top of the multifamily mountaintop, amassing 30,000 units in an acquisition spree for the ...
Apr 15, 2026•34 min•Ep. 56
This week, we chop it up on how God is Smiling Upon Alts : The federal govt has put forward much-anticipated regulation that creates a smorgasbord of investment options for retirees – with major implications for CRE. Next, we discuss how Manhattan office has broken the $300 a foot barrier – twice in a month! And finally, we bust out our Marley Slims and head to Brooklyn , where Orthodox dealmaker Simon Dushinsky's unorthodox playbook at the Rabsky Group is dominating the development landscape. P...
Apr 08, 2026•38 min•Ep. 55
This week, we talk some takeaways from institutional real estate’s March Madness, the PREA conference – we’ve got the latest on what the industry's biggest allocators & fund managers are thinking about. Then, we SNF around that quirky asset class’ latest megadeal - Chuny Herzka’s $1.7B acquisition of the Centers healthcare portfolio. And finally, the changing of the guard at Camden Property Trust and BGO's takeover of Bell Partners are great excuses to discuss 2 of our favorite themes – AUM ...
Apr 01, 2026•38 min•Ep. 54
This week, we dive into the life & times of two quintessential Men with Deep Pockets: Billionaire British Brothers David & Simon Reuben have become some of the most aggressive buyers of trophy hotel and retail assets across the country – many of them in various states of undress & distress. We then look at Apollo’s new NNN partnership with Realty Income - an alliance that says much about how both AUM Gobblers and vanilla REITs are saying they’ve got what the other needs. And finally,...
Mar 25, 2026•35 min•Ep. 53
This week, we dive deep into the M&A deal that's all anyone in institutional CRE can talk about. Savills – yes Savills! – is buying Eastdil Secured for $1.1B. That gives the Brits some serious capital-markets firepower stateside, but the devil lies in the details of the golden handcuffs. Next, we strap on our Lucchese boots and head to Dallas , where legendary dealmaker Ray Washburne has grand plans for a convention center. We discuss his HoF deal for Highland Park Village and how he's part ...
Mar 18, 2026•38 min•Ep. 52
This week, we have no choice but to tackle the topic of war. The conflict with Iran continues to roil markets and CRE's biggest allocators are in sixes and sevens. Fewer young people are going to college , which puts a big question mark on what's historically been one of the biggest drivers of real estate activity. And finally, with special servicers like Rialto continuing to play an outsized role in the market, some of their more exotic strategies are coming under a pretty harsh spotlight. Spon...
Mar 11, 2026•36 min•Ep. 51
In Ep. 50 (!), we trace Larry Silverstein's odyssey with the World Trade Center redevelopment, analyzing the new blockbuster Amex deal and the insurance, legal and financing battles that the developer has fought since 9/11. Next, we jump on our Zambonis and check out Jamestown’s push for a hockey team in Atlanta . And finally, Blackstone has a data center offering that it wants to share with the universe - of retail investors, that is. We also do a " Punch List " rundown of the newsiest industry...
Mar 04, 2026•36 min•Ep. 50
This week, we look at the tragicomedy that is TSX Broadway , the Maefield/L&L/Fortress Times Square megadevelopment that came undone and left hundreds of foreign investors in the lurch. We discuss how complex ground-up projects can lay waste to capital stacks, and what can happen between partners under pressure. We then look at the latest alarm bells ringing in the high-octane world of data center development – Blue Owl is staring down a multibillion-dollar void, and OpenAI’ s marquee Starga...
Feb 25, 2026•40 min•Ep. 49
This week, we dive deep into the story of Anbang Insurance , the Chinese insurer that went on an epic US trophy real estate buying spree, but flew too close to the sun. We trace the origins of Anbang's founder Wu Xiaohui , his multibillion-dollar acquisition of top US hotels include NYC's Waldorf-Astoria , and Anbang's eventual collapse and government takeover. We then talk about a rare RICO case against a notorious DC landlord, Ali "Sam" Razjooyan , and how such extreme incidents can shape land...
Feb 18, 2026•35 min•Ep. 48
This week, we discuss the House of Brookfield’s new overlord: Connor Teskey has a modest target – double AUM to $2 trillion . We talk about the labyrinth that is Brookfield’s corporate structure – Bruce Flatt's not going away – and what CRE’s role in the ramp-up will be. We then look at the flurry of REIT take-privates , from Peakstone to Plymouth. And finally, we slip into resort casual and discuss a princely condo buyout payoff in West Palm Beach – the goat Steve Ross makes an appearance. We a...
Feb 11, 2026•38 min•Ep. 47
This week, we discuss how the Chrysler Building has laid waste to the best-laid plans of so many global titans. With Tishman Speyer reportedly coming back for another go at the Art Deco icon, we trace its rich and rollicking deal history, from Jack Kent Cooke to Abu Dhabi. We then discuss how the ICE immigration crackdown is putting another big question mark on the Sunbelt multifamily market and leaving landlords in limbo. And finally, we discuss Apollo's sister act: REIT ARI is selling its $9B ...
Feb 04, 2026•30 min•Ep. 46
This week, we discuss second acts: Ziel Feldman has left the scandal-ridden past of his glitzy New York condo development firm HFZ Capital Group behind, and he's reinvented himself as an affordable housing player through his silent partnership in GoodHomes . We trace the wild arc of his career and his far more below-the-radar new game. Proptech's loudest voice and most prolific fundraiser Fifth Wall is now yelling into the fundraising void; we talk about how the firm's issues are emblematic of t...
Jan 28, 2026•35 min•Ep. 45
This week, we discuss a redemption tour by GVA’s Alan Stalcup , Patient Zero of the Sunbelt multifamily boom/bust. He’s battling PGs, LPs and maybe even the SEC, but Stalcup is unapologetic. He sat down with Hiten for a pretty unplugged conversation, and we chat through our key takeaways. We then dive into the 24-6 world of dealmaking in Skilled Nursing Facilities, a totally undercovered corner of CRE with big numbers and some batshit maneuvering. The Genesis bankruptcy case is all anyone in tha...
Jan 21, 2026•35 min•Ep. 44
This week, we’re talking a glitch in the Morse code: MCR has failed to come up with the cash to consummate the take-private of Soho House , setting off a mad scramble. There’s more bad chemistry in the life-sciences space, with the venerable Beacon Capital Partners battling its operating partner and lenders in the space losing patience. And finally, we dive into the most closely-watched CRE bankruptcy auction in the country: The Pinnacle rent-stabilized portfolio in New York. Sponsors: 1) This e...
Jan 14, 2026•31 min•Ep. 43
This week, we talk Chicago – America’s Second City is now becoming top of mind for national multifamily players. We break down 2 significant deals: LaTerra’s monster AIMCO portfolio buy and S2’s debut. We then slip into our jerseys and look at the arcane world of stadium development – and all the freebies and surrounding action that comes with it. Finally, we schlep the streets of Brooklyn, where Carlyle & Greenbrook have pulled off a massive Freddie refi of their walk-up empire. Sponsor: Th...
Jan 07, 2026•28 min•Ep. 42
We're technically off this week. BUT, Business Insider dropped a banger of a read on Floyd Mayweather's tangled financial web, and somewhere at the center of that web is a character of great interest to The Promote Cinematic Universe : Jona Rechnitz was a New York real estate developer who was caught up in a massive NYPD corruption scandal before heading to LA and reinventing himself as a diamond dealer and Mayweather whisperer. Rechnitz is the archetype of a netherworld character who somehow ke...
Dec 31, 2025•34 min•Ep. 10
This week, we talk illiquid death – the Bluerock listing debacle says so much about the mark-to-magic happening in the nontraded REIT market. We then head to Hollywood where showbiz is turning into badbiz for Hackman Capital , HPP and others who went all-in on soundstages. And finally, we head to Charm City to check in on Kevin Plank & Goldman Sachs' Baltimore Peninsula megaproject – MAG is out, Hines is in, and Bank OZK is pissed. To advertise: Reach out to partnerships@thepromote.com For f...
Dec 24, 2025•30 min•Ep. 41
This week, we’re talking exotic alts – the far-flung corners of CRE that are starting to catch serious institutional interest. Think car washes, aviation hangars and the like. We're joined by Ian Ross , managing partner of SomeraRoad , to talk through the fascinating niche of aviation infrastructure and how it's been supercharged by the Big Beautiful Bill . Then, we walk through Taconic Partners' failed grand experiment with life science real estate in NYC – $2B deployed, not much to show for it...
Dec 17, 2025•33 min•Ep. 40
This week, we look back at the skyline-shaping impact of 2 starchitects who’ve just left us – Robert A.M. Stern and Frank Gehry – and then jump into a broader discussion about the pros & cons of name-brand architects. We dive into the industrial deal of the year, EQT’s 9M sf sale to Aum gobbler Artemis . And we have an exclusive tick-tock of a hotel megadeal in San Francisco, Newbond & Conversant's heist of 3,000 rooms in one fell swoop – it's a great window of what it takes to get a dis...
Dec 10, 2025•34 min•Ep. 39
In our special mailbag episode, co-host Will Krasne tackles your most unhinged CRE questions: who'd be the dream cast of a CRE version of Million Dollar Listing, the best projects through which to launder funds, and which industry niches are IQ-optional. To advertise: Reach out to partnerships@thepromote.com For feedback: Write us at podcast@thepromote.com And please rate us and write a review on Apple. Up your CRE game: Consider becoming a premium subscriber to The Promote to unlock access to e...
Dec 05, 2025•20 min
This week, we dive deep into the maverick career of Seattle skyscraper titan Martin Selig - a true man in full who at his pomp controlled more than a third of the city's downtown, but is now at risk of losing it all. As of this summer, Selig has lost 19 of his buildings to third-party managers or lenders. He’s been unable to make good on over $850 million in loans. We break down his meteoric rise, his ability to survive through cycles that ended the careers of lesser men, and why this time may t...
Dec 03, 2025•30 min•Ep. 38
This week, we explore why more multifamily REITs are offering themselves up at the altar - there just doesn’t seem to be a real path forward for many of these midsize players in this capital-markets environment. We then look at Marriott’s mercy killing of Sonder and the lessons to take away from yet another high-profile proptech implosion. And finally, the Mooch’s OZ fund was kinda like the Mooch’s White House tenure. Short and painful. To advertise: Reach out to partnerships@thepromote.com For ...
Nov 19, 2025•31 min•Ep. 37
This week, we chat about 2 big events in the senior housing space: Blackstone’s fire sale of a $1.8B portfolio and the Sonida-CNL merger. It’s a pretty gnarly business to operate, but there’s lots of room for creative structuring. Next, we look at the behind-the-scenes wrangling at one of Brooklyn’s buzziest projects: Jonathan Landau is attempting to build Brooklyn Heights’ tallest condo, but has a quarter-billion dollar hole to fill. And finally, BXP (aka Boston Properties ) is cashing in on le...
Nov 12, 2025•32 min•Ep. 36
