Fugazi First Positions & Cracking Billionaires' Row

This week, we look at explosive allegations of mortgage fraud that have caught up 2 prominent regional banks. Zions and Western Alliance woes stemming from shenanigans at a California CRE investor once again show how vital regional banks are to the industry’s capital markets – and how distress in that space can ruin the whole party. Next, we look at Walmart’s intriguing new playbook – the retail behemoth is on a mall shopping spree. And finally, there’s a LITERAL crackdown allegedly happening at one of the country’s most notable supertalls- Harry Macklowe and CIM Group's 432 Park Avenue. To advertise: Reach out to [email protected] feedback: Write us at [email protected] and please rate us and write a review on Apple or Spotify.Up your CRE game:  Consider becoming a premium subscriber to The Promote to unlock access to expert CRE content. Founding memberships open now at https://www.thepromote.com/upgradeFurther reading:Troubled Real Estate Firm at Center of Banks’ Latest Loan Pinch: https://www.bloomberg.com/news/articles/2025-10-17/troubled-real-estate-firm-at-center-of-banks-latest-loan-pinch Why Did Walmart Just Buy a Shopping Mall?: https://www.nytimes.com/2025/10/06/business/walmart-shopping-malls.html?unlocked_article_code=1.u08.Zxzg.LSLcjr4T2Nsw&smid=url-shareA Tower on Billionaires’ Row Is Full of Cracks. Who’s to Blame?: https://www.nytimes.com/2025/10/19/nyregion/432-park-avenue-condo-tower.htmlAge of Accountability for Supertalls: https://www.thepromote.com/p/supertall-retribution-ackman-s-baby-berkshire-playbook#age-of-accountability-for-supertallMacklowe Case Study- the GM Building: https://mackloweproperties.com/pdfs/GMBuilding.pdf