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, failed mega-retailer JCPenney is now the scene of a bruising battle with a jilted would-be buyer.
Plus, our "Punch List" rundown of the newsiest industry happenings: retail titan David Simon dies; Fannie & Freddie stocks freefall; Iran conflict raises questions about the Middle East's biggest CRE allocators.
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.com
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 by visiting bravocapital.com
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 Insider to unlock access to expert CRE breakdowns, behind-the-deal stories, scoops, discounted swag and events 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:
You May Never See Us Again: The Barclay Dynasty:
The Reuben Brothers’ self-described “black sheep” steps up
Pack up your roubles ...
Inside Reuben Brothers’ NYC shopping spree
Apollo To Invest $1B In 500 Realty Income Single-Tenant Properties
Private Credit’s Manifest Destiny
From Investment to Savings: When Finance Feeds on Itself
Bill Ackman Solved the Wrong Problem
Gary Barnett: The Father of Billionaires' Row
