The Promote Podcast

← The Promote Podcast23 sep · 32 min

Lurin's FBI Probe & the CapStack Snipers

Lurin's FBI Probe & the CapStack Snipers23 sep32 min

This week, we take stock of the tale of Lurin Capital, a multifamily syndicator that's now in the FBI's crosshairs. Jon Venetos was cut from very different cloth than the rest of the Sunbelt Dreamers, and his rise and fall are arguably even more cinematic. Next, it's a classic Manhattan tale of capstack sniping. With 245 Park ready to be graced by a $2 billion Refi, we look back at SL Green's Tranche Warfare with HNA at the Skyscraper, and what is already likely a monster payoff.

Plus, our Punch List rundown of the newsiest CRE happenings:  Benefit Street Partners Leadership Shakeup, 485x's perverse incentives, Pontegadea's latest acquisition, Jeff Greene-Fort Partners, CBRE-Tenet deal

Sponsors:

1) Pensford, the only interest-rate advisory focused exclusively on CRE

2) Bravo Capital, a leading HUD and bridge lender. Check out their new SNF market ranking here.

3) H Equities, your mid-market go-to on both sides of the capstack. Hit them up for bridge loans of up to $50M, or if you need a co-GP partner for that last 10-20% of equity.

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Further Reading/Listening

Inside the SL Green Playbook

Not Easy Being [SL] Green