The Promote Podcast House of Brookfield, Wholesale Shopping and a Condo Buyout Coup
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 also do a "Punch List" rundown of the newsiest industry happenings: Michael Shvo's bitter breakup with German pension fund BVK; Blackstone & DivcoWest's SF triumph; and tranche warfare in the mall space.
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
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Further reading/listening:
Top-Rated Bonds Hit Hard After Distressed Fund Seizes One of America’s Largest Malls
Anthropic to take over an entire office building in downtown S.F.
Brookfield revamps unusual ownership structure
Book recc: The Reichmanns: Family, Faith, Fortune, and the Empire of Olympia & York
Brookfield Lines Up a 36-Year-Old Rising Star as Next Billionaire CEO
Jon Gray Is Reshaping Blackstone Into Everybody's Investing Megastore
Brookfield Puts Up $173M To Refinance Brookfield Place Tower
Blackstone eyes more REIT privatizations amid "lagging" public markets
Inside Steve Ross’ buyout of a West Palm Beach waterfront condo
Podcast: Ross takes his talents to [West Palm] Beach