Stairway to Heaven & Parkmerced's Odyssey

This week, it’s time for some California dreamin': We ascend Orange County’s Ziggurat, a stairway to heaven or SoCal’s biggest development clusterfuck, depending on your flavor. The hulking structure and the quest to sell it showcase government incompetence at its most extreme. We then head up to San Francisco, where a whirlwind of fascinating dealmaking has gone down at the city's largest rental complex, Parkmerced – New York-based Yellowstone has just taken over the development portion of the property, ending a long quest by Robert Rosania to hold on.Sponsors:1) 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.2) 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.3) 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!Up your CRE game:  Consider becoming a premium subscriber to The Promote to unlock access to expert CRE content. Take 10% off annual subscriptions by using this link: