Limit-Up Hotel Kamikazes & AI's Brokerage Rout

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 landlord-tenant policy. Finally, we look at why the big CRE brokerages are seeing their stocks getting hammered by the AI question.

We also do a "Punch List" rundown of the newsiest industry happenings: Sumitomo Forestry's Tri-Pointe take-private; Nuveen buying Schroeder's; Kimco's unwanted assets; Fannie looking to wet its beak on license sales; and Adam Neumann invoking the wrath of his Miami neighbors. 

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.com
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! Check them out at loanboss.com

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Further reading/listening:

Chinese Shop Trophy Hotels After Decade of Pain

Rise of Wu Xiaohui, Anbang’s low-profile, high-octane chairman

The Waldorf’s Makeover Went a Billion Over Budget—and China Is Footing the Bill

D.C. Attorney General Targets D.C. Slumlord With RICO Lawsuit

How “Landlord” Became a Bad Word 

AI Scare Trade Wipes Out Billions From Commercial Real Estate Stocks