The Promote Podcast Reubens on Rye and Apollo's Divine NNNtervention
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Mar 25, 2026 They unpack the Reuben brothers’ rapid, high‑stakes hunt for discounted trophy hotels and retail assets. They break down Apollo’s $1B NNN play with Realty Income and what that deal signals about capital flows. They cover the messy JCPenney trust sale collapse and the legal and financing drama around estoppels and deposits.
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Reubens Buy Distressed Trophy Assets Fast
- The Reuben brothers specialize in buying high-end trophy hotels and retail assets when sellers are distressed.
- They buy debt or discounted equity quickly, often closing in ~30 days, turning liquidity into bargaining power.
Fannie Freddie Guarantees Underpin Multifamily Liquidity
- Fannie and Freddie's conservatorship status and any change to explicit guarantees materially affect fixed-rate multifamily liquidity.
- Removing explicit guarantees risks higher costs and reduced construction/bridge financing availability.
Reubens' Aluminum Trading Genesis
- David and Simon Reuben made early fortunes trading raw and finished aluminum across borders in risky markets like Russia.
- They exited by selling to Roman Abramovich and redeployed capital into London and U.S. real estate.
