The Last Tower & Blackstone's Lair Cake

This week, we visit CRE’s alpha lair, Blackstone HQ, where one of the industry’s top execs, global head of real estate Nadeem Meghji, is set to exit. His perch was among the best risk-adjusted seats in all business, but what does someone in that position do for their next act? And why is there so much churn atop the pyramid at BX? Next, we take stock of the most scrutinized real estate project in modern American history, the World Trade Center complex. Twenty-five years after 9/11, Larry Silverstein's final tower is set to rise, and the neighborhood it will serve is dramatically different from the one that existed at the time of the attack. Plus, our Punch List rundown of the newsiest industry happenings: Barnett's $1.3B Torch financing; Steve Ross strikes big in Boca; MF1 sale; Centerspace merger; Kroenke's Angels play.

Sponsors:
1) This episode is supported by Bravo Capital, a leading HUD and bridge lender. Check out their new SNF market ranking here.
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!
3) This episode is supported by 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.

Partner Content:
"Inside the Capstack" with Gibson Dunn's Harry Silvera. Silvera talks through structuring the modern-day capital stack for a trophy office project.

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Further Reading/Listening
Power at Ground Zero: Politics, Money, and the Remaking of Lower Manhattan
Larry’s White Whale: More Deets on 2 WTC Deal
Lower Manhattan, 25 Years After 9/11
One Attack or Two? Jury to Get Trade Center Insurance Claim

Key Blackstone Cub Leaving Lair
UC Regents' Trophy Deal Tarnished
At Blackstone’s $339 Billion Property Arm, the Honeymoon Is Over

Stan Kroenke’s Angels Purchase Puts Angel Stadium Redevelopment Back in Play