The Promote Podcast

ten31 Media
  • 5.0 (84)
  • Investing

Your Commercial Real Estate Insider guide. From profiles of the biggest dealmakers to skyline-shaping transactions, we bring you the deals, breakdowns and war stories that move the market — for insiders, by insiders. From bad-boy guarantees to CMBS tranche warfare to syndicator sins, we cover it all. Each week, The Promote Podcast explores three of the most interesting and consequential stories in CRE, taking you well beyond the headlines and into the heart of the action. Hosted by the award-winning “Bard of CRE,” Hiten Samtani, founder of ten31 media and author of The Promote newsletter, along with no-BS institutional insider Will Krasne. Also check out our 3x/week newsletter for industry insiders at https://www.thepromote.com/

  1. 16h ago

    Hail Caesar, CoStar's M&A Mania & a ZOMbie Developer

    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 Punch List rundown of the newsiest industry news: NYC rips, S2's special servicing, Fisher Island fracas, Brookfield bombs again, and banks are back! Sponsors:1) This episode is supported by Bravo Capital, a leading HUD and bridge lender. See how their precision underwriting means quicker approvals and higher proceeds for sponsors. And check out their must-read SNF primer here.2) This episode is supported by LoanBoss, the industry-leading debt management software. Featuring one-click covenant testing, instant cash flow forecasting, and our favorite nerdy delight: Live forward curves!3) This episode is supported by Real Property Captive, the first group captive insurance for mid-market owners. Check out their platform to tap into the same insurance framework used by the market’s biggest players and get dividends from unused premiums. Further Reading/Listening Big Fish- Tilman FertittaAn Interview With Tilman Fertitta on A Restaurant Empire During CovidTilman Fertitta’s Years-Long Pursuit of Caesars Is Paying OffThe Caesars Palace Coup: How A Billionaire Brawl Over the Famous Casino Exposed the Power and Greed of Wall Street CoStar to acquire homebuilding data giant Zonda for $800 million—why it mattersCostar’s CrusadeActivist Dan Loeb dusts off his poison pen ZOM Prepping Bankruptcy Filing After Legal Wallop

    36 min

  2. 6d ago

    Enemy at the Rates, Mayweather Gets KO'd & Newmark Nepomania

    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 industry news: A syndicator wipeout, BTR back from the brink, CO Power 100, EQR-AVB mega-merger is official. Sponsors:1) This episode is supported by Bravo Capital, a leading HUD and bridge lender. See how their precision underwriting means quicker approvals and higher proceeds for sponsors. And check out their must-read SNF primer here.2) This episode is supported by Pensford, the only interest-rate advisory focused exclusively on CRE. With over 10,000 rate caps under its belt, Pensford is your go-to partner to navigate rates.3) This week's Punch List is brought to you by Real Property Captive, the first group captive insurance for mid-market owners. Check out their platform at RPCaptive.com to tap into the same insurance framework used by the market’s biggest players and get dividends from unused premiums.

    40 min

  3. May 20

    CRE's Paypal Mafia: The JMB Realty Story

    In this special episode, we dive deep into the story of JMB Realty Corporation, 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 Judelson, to its status as the powerhouse firm of the 80s and its legacy as the firm whose alum birthed Starwood, Blackstone Real Estate, Northwood and scores of other industry leaders, we explore it all. This is a must-listen both for industry vets and for up-and-comers looking to understand why the CRE industry looks the way it does today. Sponsors:1) This episode is supported by Bravo Capital, a leading HUD and bridge lender. See how their precision underwriting means quicker approvals and higher proceeds for sponsors. And check out their must-read SNF primer here.2) This episode is supported by Real Property Captive, the first group captive insurance for mid-market owners. Check out their platform to tap into the same insurance framework used by the market’s biggest players and get dividends from unused premiums.3) This episode is supported by LoanBoss, the industry-leading debt management software. Featuring one-click covenant testing, instant cash flow forecasting, and our favorite nerdy delight: Live forward curves! For feedback: Write us at podcast@thepromote.com And please rate us and write a review on Apple.For brand partnerships: Reach out to partnerships@thepromote.comFor podcast swag: Cop your CRE insider hats, hoodies, and pod swag at CRE's merch-ant bank. Up your CRE game:  Consider becoming a premium subscriber to The Promote Insider to unlock access to expert CRE breakdowns, exclusive online events, behind-the-deal stories, scoops, discounted swag and more. Here's 10% off on annual subscriptions: https://www.thepromote.com/upgrade?offer_id=b700858f-21e0-47a2-9695-a93055d3ed15 Further reading/listening: How Deal of the Decade Undid Malkin and Bluhm A Split for JMB Founders; Bluhm Starts Own Deal FundAfter Slide, Bluhm Is Blooming AgainIn Starwood Hotels, Barry Sternlicht reprises his greatest roleJMB REALTY TO BUY CADILLAC FAIRVIEWA REALTY CONCERN WITH A BIG APPETITE

    36 min

  4. May 13

    S2's REIT Wipeout & A Lender's Extreme Show of Faith

    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 kept the faith in developer Grubb Properties after a decade-long debacle by the Ohebshaloms. And then it’s time to unpack the real estate legacy of a G-reat man,just-passed media mogul Ted Turner. Plus, our Punch List rundown of the newsiest industry happenings: A sextortion plot against Fortress founder Wes Edens; Gary Barnett's latest assemblage; La Caisse and EB-5 investors taking a bath in Brooklyn; and Soloviev's $526M windfall at a Manhattan office trophy.  Sponsors:1) This episode is supported by Bravo Capital, a leading HUD and bridge lender. See how their precision underwriting means quicker approvals and higher proceeds for sponsors. And check out their must-read SNF primer here.2) This episode is supported by Pensford, the only interest-rate advisory focused exclusively on CRE. With over 10,000 rate caps under its belt, Pensford is your go-to partner to navigate rates.3) This week's Punch List is brought to you by Real Property Captive, the first group captive insurance for mid-market owners. Check out their platform at RPCaptive.com to tap into the same insurance framework used by the market’s biggest players and get dividends from unused premiums. For feedback: Write us at podcast@thepromote.com And please rate us and write a review on Apple.For brand partnerships: Reach out to partnerships@thepromote.comFor podcast swag: Cop your CRE insider hats, hoodies, and pod swag at CRE's merch-ant bank. Up your CRE game:  Consider becoming a premium subscriber to The Promote Insider to unlock access to expert CRE breakdowns, exclusive online events, behind-the-deal stories, scoops, discounted swag and more. Here's 10% off on annual subscriptions: https://www.thepromote.com/upgrade?offer_id=b700858f-21e0-47a2-9695-a93055d3ed15 Further reading/listening: S2's REIT ReckoningS2 Capital targets $1B for multifamily private REITThe Alan Stalcup InterviewMultifamily's Icarus: Alan Stalcup On the Record Fortress Co-Founder Allegedly Extorted by Sexual Partner FiDi Telenovela Set For Happy EndingDebt Fund Whac-A-Mole   Ted Turner - Atlanta Magazine ProfileBorn to Be Wired - John Malone Memoir Talking Tycoons: Tom Cousins

    33 min

  5. May 6

    Mega-Marriage of Convenience and Miami’s Abuelagate

    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 the part of a Bollywood villain. This is the exact kinda story lineup we love here at The Promote - a lil’ meat, a lil’ masala. Plus, our Punch List rundown of the newsiest industry happenings: KKR's data-center play; Alan Stalcup's Starwood PGs; Newmark's earnings; Aby Rosen battles German lender at Soho hotel; Anthropic's NYC leasing tear. Sponsors: 1) This episode is supported by Pensford, the only interest-rate advisory focused exclusively on CRE. With over 10,000 rate caps under its belt, Pensford is your go-to partner to navigate rates.2) This episode is supported by Bravo Capital, a leading HUD and bridge lender. See how their precision underwriting means quicker approvals and higher proceeds for sponsors. And check out their must-read SNF primer here. 3) This episode is supported by Cohorts, your go-to peer group of GPs going through the same challenges as you. Check them out at joincohorts.com 4) This week's Punch List is brought to you by DealNav, a map-first CRM and deal-tracking tool built by acquisition fiends for acquisition fiends. Our listeners get 50% off their first year by going to deal-nav.com and using code “ThePromote” at checkout.  For feedback: Write us at podcast@thepromote.com And please rate us and write a review on Apple.For brand partnerships: Reach out to partnerships@thepromote.com Up your CRE game:  Consider becoming a premium subscriber to The Promote Insider to unlock access to expert CRE breakdowns, exclusive online events, behind-the-deal stories, scoops, discounted swag and more. Here's 10% off on annual subscriptions: https://www.thepromote.com/upgrade?offer_id=b700858f-21e0-47a2-9695-a93055d3ed15 Swag store is live! Cop your CRE insider hats, hoodies, and pod swag at CRE's merch-ant bank. Further reading/listening: Multi’s Marriage of ConvenienceAm I Being Too Subtle?: Straight Talk From a Business RebelThe Eccentric Genius of Trammell CrowMultifamily on Hard ModeTrammell Crow, Master Builder: The Story of America's Largest Real Estate Empire Inside the Meruelo family schism Sol Asylum

    35 min

  6. Apr 29

    Aman’s Dirty Laundry & Atlanta’s Phantom Megaproject

    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 and key partners Cain International and PIF. And finally, a quick wardrobe change into earnings-call appropriate attire, as CBRE absolutely crushes the AI boom. Sponsors: 1) This episode is supported by LoanBoss, the industry-leading debt management software. Featuring one-click covenant testing, instant cash flow forecasting, and our favorite nerdy delight: Live forward curves! Check them out at loanboss.com2) This episode is supported by Bravo Capital, a leading HUD and bridge lender. See how their precision underwriting means quicker approvals and higher proceeds for sponsors by visiting bravocapital.com3) This week's Punch List is brought to you by Real Property Captive, the first group captive insurance for mid-market owners. Check out their platform at RPCaptive.com to tap into the same insurance framework used by the market’s biggest players. For feedback: Write us at podcast@thepromote.com And please rate us and write a review on Apple.For brand partnerships: Reach out to partnerships@thepromote.com Up your CRE game:  Consider becoming a premium subscriber to The Promote Insider to unlock access to expert CRE breakdowns, exclusive online events, behind-the-deal stories, scoops, discounted swag and more. Here's 10% off on annual subscriptions: https://www.thepromote.com/upgrade?offer_id=b700858f-21e0-47a2-9695-a93055d3ed15 Further reading/listening: Mysterious Developer Is Pushing Billions In Georgia MegaprojectsDeveloper Defaults On Mortgage For Planned $3.8B Atlanta MegaprojectWebstar Seeks Tax Break For $750M Forge Atlanta Development The Aman Infiltration: How a Global Money Laundering Kingpin Tainted a $3 Billion Hotel BrandThe Aman Connection: How a Transnational Fugitive Became a Pillar of Dubai’s Most Elite AddressCain International Invests in Aman Group to Support Global Expansion StrategyPod: Behind the Deal - One Beverly HillsCain and AbleBillion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World Meta partners with CBRE to train data center techniciansCBRE Profit Jumps 95%, Fueled By Data Centers High Rise: How 1,000 Men and Women Worked Around the Clock for Five Years and Lost $200 Million Building a Skyscraper

    37 min

  7. Apr 22

    The Frum Fraudfather & Pied à Terre Purgatory

    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 the aegis of a close-knit community. We also explore New York's new push for a pied-a-terre tax, which has serious momentum with Mayor Zohran Mamdani and Gov. Kathy Hochul in lockstep. Finally, we look at how Dubai billionaire developer Hussain Sajwani's luxury condo at the site of the Surfside tragedy has yet to sell a single unit – a new development launch is like an IPO - you only get one shot at setting the narrative. Plus, our Punch List rundown of the newsiest industry happenings: SREIT's $1.7B refi, SL Green's Hyundai Tribeca rescue, more Stargate troubles and Ares' C-PACE bet. Sponsors: 1) This episode is supported by Bravo Capital, a leading HUD and bridge lender. See how their precision underwriting means quicker approvals and higher proceeds for sponsors by visiting bravocapital.com2) This episode is supported by LoanBoss, the industry-leading debt management software. Featuring one-click covenant testing, instant cash flow forecasting, and our favorite nerdy delight: Live forward curves! Check them out at loanboss.com For feedback: Write us at podcast@thepromote.com And please rate us and write a review on Apple.To advertise: Reach out to partnerships@thepromote.com Up your CRE game:  Consider becoming a premium subscriber to The Promote Insider to unlock access to expert CRE breakdowns, exclusive online events, behind-the-deal stories, scoops, discounted swag and more. Here's 10% off on annual subscriptions: https://www.thepromote.com/upgrade?offer_id=b700858f-21e0-47a2-9695-a93055d3ed15 Further reading/listening: The Nussbaum-Steiner Escrow TrailDealmacher Nussbaum Charged W/ Grand LarcenyHush MoneyNussbaum's Firms File Ch. 11(Ephraim) Diamond in the Rough The Pied-à-Terre Tax Has Failed Before. Could This Year Be Different?Tax The Rich: A Brief New York History Habibi Come to Dubai Miami‘Donald of Dubai’: real estate mogul rubbing shoulders with TrumpTupac vs Biggie, CRE Edition zArjHivBrm11JMbA3M3J f434hzO95GHzDxr0iwTG

    39 min

  8. Apr 15

    Multifamily's Icarus: Alan Stalcup On the Record

    "Property management companies made my spreadsheets lie." "We're gonna move the pref to a 17. Okay, okay, Tom. You're f*****g 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 ages. When rates turned, however, his firm became one of the highest-profile casualties, setting off a wave of defaults, investor & lender lawsuits, and explosive allegations of fraud. In this unplugged conversation with The Promote, Stalcup talks through his rise – how a software salesman became one of the biggest landlords in the country through savvy fundraising, rapid acquisitions and fast exits – his butting heads with the likes of Fortress Investment Group and his lenders, and the aftermath of GVA's collapse. We talk through property management, syndicator raises and what happens when you become Patient Zero of a much broader reckoning. Sponsors: 1) This episode is supported by LoanBoss, the industry-leading debt management software. Featuring one-click covenant testing, instant cash flow forecasting, and our favorite nerdy delight: Live forward curves! Check them out at loanboss.com2) This episode is supported by Bravo Capital, a leading HUD and bridge lender. See how their precision underwriting means quicker approvals and higher proceeds for sponsors by visiting bravocapital.com For feedback: Write us at podcast@thepromote.com And please rate us and write a review on Apple.To advertise: Reach out to partnerships@thepromote.com Up your CRE game:  Consider becoming a premium subscriber to The Promote Insider to unlock access to expert CRE breakdowns, exclusive online events, behind-the-deal stories, scoops, discounted swag and more. Take 10% off annual subscriptions by using this link: https://www.thepromote.com/upgrade?offer_id=b700858f-21e0-47a2-9695-a93055d3ed15 Further reading/listening: The Alan Stalcup Interview Apartment Landlords Bleeding Cash Imperil $47 Billion of Loans Real Estate Investors Are Wiped Out in Bets Fueled by Wall Street Loans Austin real estate owner under federal investigation as lawsuits allege $100M fraud GVA and Alan Stalcup “cooking the books,” lawsuit alleges

    34 min
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5
out of 5
84 Ratings

About

Your Commercial Real Estate Insider guide. From profiles of the biggest dealmakers to skyline-shaping transactions, we bring you the deals, breakdowns and war stories that move the market — for insiders, by insiders. From bad-boy guarantees to CMBS tranche warfare to syndicator sins, we cover it all. Each week, The Promote Podcast explores three of the most interesting and consequential stories in CRE, taking you well beyond the headlines and into the heart of the action. Hosted by the award-winning “Bard of CRE,” Hiten Samtani, founder of ten31 media and author of The Promote newsletter, along with no-BS institutional insider Will Krasne. Also check out our 3x/week newsletter for industry insiders at https://www.thepromote.com/

Information

  • Creator
    ten31 Media
  • Years Active
    2025 - 2026
  • Episodes
    65
  • Rating
    Explicit
  • Copyright
    © 2025 Ten31 Media, LLC
  • Show Website
    The Promote Podcast

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