This week, we have the this-is-too-weird-to-be-real tale of Forge Atlanta, a $3.8 billion megaproject with the most bizarro development team and history we’ve ever come across for a project of this scale. We know ground-up is smoke and mirrors even on a good day, but this is NEXT LEVEL. We then slip into linen trousers and head to the embattled sun-kissed shores of hospitality giant Aman, where the involvement of a mysterious international fugitive has caused all sorts of drama between Aman and key partners Cain International and PIF. And finally, a quick wardrobe change into earnings-call appropriate attire, as CBRE absolutely crushes the AI boom.

Sponsors:

1) 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! Check them out at loanboss.com
2) 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 by visiting bravocapital.com
3) This week's Punch List is brought to you by Real Property Captive, the first group captive insurance for mid-market owners. Check out their platform at RPCaptive.com to tap into the same insurance framework used by the market’s biggest players.

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Further reading/listening:

Mysterious Developer Is Pushing Billions In Georgia Megaprojects
Developer Defaults On Mortgage For Planned $3.8B Atlanta Megaproject
Webstar Seeks Tax Break For $750M Forge Atlanta Development

The Aman Infiltration: How a Global Money Laundering Kingpin Tainted a $3 Billion Hotel Brand
The Aman Connection: How a Transnational Fugitive Became a Pillar of Dubai’s Most Elite Address
Cain International Invests in Aman Group to Support Global Expansion Strategy
Pod: Behind the Deal - One Beverly Hills
Cain and Able
Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World

Meta partners with CBRE to train data center technicians
CBRE Profit Jumps 95%, Fueled By Data Centers

High Rise: How 1,000 Men and Women Worked Around the Clock for Five Years and Lost $200 Million Building a Skyscraper