{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Promote Podcast","title":"Stern Ambition, Nuveen's Belly Flop & Private Credit's Gypsy King","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/a0586185\"></iframe>","width":"100%","height":180,"duration":2398,"description":"This week, we load up on chips n' vinegar and take you with us on an extraordinary journey into British caravan country. Embattled mobile-home king Robert Bull's tale brings together gypsies, Norwegian beauty queens and New York financiers – and yes, it is very much a CRE story. Next, we slip into Dolce & Gabbana and ride to the branded-condo epicenter of Miami, where JDS’ Michael Stern is prepping a rescue recap of his latest development – Stern is a first-draft pick for a real estate pirate, and we get into the backstory. And finally, a strong example of returns not mattering in institutional CRE – Nuveen has disclosed a string of meaty losses on its investing bets. Plus, our Punch List rundown of the newsiest industry happenings: a $1.3 billion arbitration award in an OC real estate dispute; Ken Griffin's empire-building; and Monty Bennett's pillaging of hotel REIT Braemar.\nSponsors:\n1) 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. \n2) 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!\n3) 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.\nFurther Reading/Listening\nMichael Stern: the highs and lows of a New York skyscraper king\nThe Closing: Michael Stern\nAn Insider’s Guide to the Miami Branded Condo Game\nSoffer to the rescue?\nA Miami Kingpin's Epic Aventura\nNuveen's Loss Factor\nCarl Icahn settles the Texaco/Getty Oil lawsuit\nThe Bankrupting of a Mobile Home Billionaire","thumbnail_url":"https://img.transistorcdn.com/66fIOkUnD1ujWIubSOyzyEDkGLr3zPSZLuuGxuPeEgo/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8yMDVl/NGNkZDY3YTdlMTY1/OWE2ZjA1ZDhlMTA3/YmNkOS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}