Golden State Gimmes & Lument's Lament

This week, we get into the potential homecoming of a big agency lender: Lument is on the block, and sources point to a round-trip to its original home, the billionaire Hunt family out of Texas. We then head further west to the golden state, where the welfare exemption, a spiritual cousin of the Traveling HFC has created a lucrative loophole for “affordable housing” players. It's a fabulous case study in gaming the system. Plus, our Punch List rundown of the newsiest industry happenings: GO REIT hiccups; Tishman Speyer at the Chrysler; DST fundraising up; David Martin; BDT & MSD x Sunrise sr. living. 

Sponsors:
1) Harvard AMDP, the premier advanced leadership program for mid-senior CRE pros. Applications for the Summer 2027 term are now open.
2) LoanBoss, the industry-leading debt management software, now supercharged by AI.
3) Bravo Capital, a leading HUD and bridge lender. Sign up for their upcoming HUD market-rate webinar here.

NYC Live POD: Nov. 5, 2026 - by invitation only. Inquire about sponsorships here.

Up your CRE game:  Consider becoming a premium subscriber to The Promote to unlock access to deep dives, bonus content and expert perspectives. Take 10% off annual subscriptions by using this link:

For feedback: Write us at podcast@thepromote.com And please rate us and write a review on Apple 🙏
For brand partnerships: Reach out to partnerships@thepromote.com

Further Reading/Listening

Is Lument Coming Home?
DUS License Frenzy: Fannie Wants to Wet its Beak
Anatomy of a Deal: BSP-NewPoint

How real estate investors are profiting off a California tax break for affordable housing
The Traveling HFC Hangover
The Mother of all Tax Loopholes

The Promote Insider: Speyers Run it Back
Terra-Led JV Lands $507M Construction Loan for South Beach Condo Before Pre-Sales