Shows
The TreppWire Podcast: A Commercial Real Estate Show323. Commercially Speaking: How Bo & Timmy Barron Make CRE AccessibleIn this special guest episode of The TreppWire Podcast, we are joined by Bo and Timmy Barron, cohosts of the Commercially Speaking Podcast, a show that breaks down commercial real estate concepts in a clear and entertaining way. Bo, a Certified Commercial Investment Member (CCIM) instructor and CEO of Barron Commercial Group, shares his journey from the Marine Corps to brokerage, while Timmy brings his background in acting and content creation to the table. We explore how their podcast has transformed their business, the power of educational content, and insights on market resilience, hyperlocal market trends, and the role...2025-04-2257 minThe TreppWire Podcast: A Commercial Real Estate Show317. From the Top: CEO Annemarie DiCola on Trepp's Evolution from CMBS Pioneer to CRE Data LeaderIn this special guest episode of The TreppWire Podcast, we celebrate our five-year podcast anniversary and Women's History Month by welcoming Annemarie DiCola, CEO of Trepp, to the show. With nearly 35 years at the company, Annemarie shares her remarkable journey from commercial real estate attorney to leading Trepp through multiple market cycles. She discusses Trepp's role in standardizing the CMBS market, supporting financial institutions during the Great Financial Crisis, and providing critical insights during today's market uncertainty. Annemarie offers valuable perspectives on current CRE trends, including office sector recovery signals, upcoming CMBS maturities, and delinquency patterns across property types...2025-03-2535 minThe TreppWire Podcast: A Commercial Real Estate Show316. March CRE Madness: Transitory Bounce, Retail Rebound, FOMC Meeting & Trading AlertsIn this week's episode of The TreppWire Podcast, we dive into the key takeaways from the recent FOMC meeting, discussing the Fed's decision to hold interest rates steady and Powell's revival of the term “transitory,” along with the prevalent wait-and-see narrative. We explore the potential commercial real estate (CRE) impacts of a continued economic slowdown, especially on the retail and lodging sectors, despite February's uptick in retail sales. On the housing front, we examine challenges in the residential market, Florida's consideration of property tax removal, and the hurdles unsellable condos are facing. Moving to commercial property stories, we cover two...2025-03-2159 minThe TreppWire Podcast: A Commercial Real Estate Show300. Celebrating A Milestone: Office Origination Deep Dive, Potential Fallout of CA Wildfires, and Mega Dollar DealsHappy 300th episode of The TreppWire Podcast! In this week’s milestone episode, we are here to share the data behind the headlines. We first reflect on the wildfires in California and the potential impact on real estate, insurance costs, and the market at large. We ‘dig through the data’ into office originations to provide transparency into the performance of the sector. We also provide insight into stories across office, lodging, and multifamily – including a juicy $500k/unit apartment property transaction. Stick around to hear how to enter our podcast giveaway. Tune in now.
This episode is sponsore...2025-01-1051 min
The TreppWire Podcast: A Commercial Real Estate Show297. Resiliency in 2024, Fed's Holiday Surprise, Portfolio Loans in the Special Servicing Stocking, & 2024 Wrap UpThis episode is sponsored by EisnerAmper.
Resiliency is the word of 2024, but uncertainty might be the word of the day. In this week’s episode of The TreppWire Podcast, we are joined by our Chief Economist to discuss mixed signals from the recent economic data, including contrasting PMI figures, retail sales growth, and the latest Fed rate cut. We also discussed the continued chatter around extend & pretend, the unexpected resilience of the U.S. economy in 2024, and what to expect for 2025. We break down Flagstar Bank's sale of troubled NY loans, value reductions across off...2024-12-2056 min
The TreppWire Podcast: A Commercial Real Estate Show295. City of Yes, Merger of Kroger & Albertsons No, Macy's Real Estate Portfolio, & Notable Property StoriesIn this week's episode of The TreppWire Podcast, we discuss the latest CPI reading, expected Fed interest rate cut, nonfarm payrolls, and the City of Yes zoning reform plan
that was approved by the New York City Council this week. In commercial real estate news, we examine the latest talks of spinning off Macy’s real estate portfolio and the Kroger and Albertsons merger that turned into a lawsuit.
We also examine several office stories, including a residential conversion, large lease renewal and acquisitions and appraisal value reductions. In multifamily we talk about a
student-housing acquisition and a fe...2024-12-1352 min
The TreppWire Podcast: A Commercial Real Estate Show294. Opportunities Outweigh Obstacles? Look to NYC Multifamily: Behind the Scenes with Seth Glasser | Marcus & MillichapIn this special guest episode of The TreppWire Podcast, we
are joined by Seth Glasser, Senior Managing Director at New York Multifamily at Marcus & Millichap. As one of the top-producing multifamily agents in their office, Seth shares insights into his journey in commercial real estate (CRE),
the major challenges facing the NYC multifamily market due to evolving legislation, and where the opportunities lie. We also dive into key topics including 1031 Exchanges, triple net leases (NNN), current cap rates, and the importance of knowing the data in your market. Tune in now.
Episode Notes:
2024-12-0940 min
The TreppWire Podcast: A Commercial Real Estate Show293. Soft Landing or Hard Truth? Billion-Dollar Deals, Double-Digit Office Delinquencies & MoreThis episode is sponsored by EisnerAmper.
In this week's episode of The TreppWire Podcast, we unpack recent economic, manufacturing PMI, and job data to debate if it is an indication that we’re sticking the soft landing or a false narrative. We discuss the billion- dollar commercial real estate (CRE) headlines of the week from Valley National Bank and Deutsche Bank, as well as a $1 billion venture to identify and support office-to-residential projects. We dive into Trepp’s CMBS Delinquency Report, with the office delinquency rate surpassing 10% in November. We close the episode with credit and transaction stor...2024-12-0654 min
The TreppWire Podcast: A Commercial Real Estate Show292. Carving up the Market: Consumer Confidence, Retail Performance Rundown, Bifurcated Office Stories, & Industrial SalesIn this week's episode of The TreppWire Podcast, we break down the latest consumer confidence and retail earnings data to understand “the tale of two consumers.” We talk Walmart vs. Target, more tariff talks, and examine the ‘largest’ stories all coming from Blackstone. We also break down several large retail loan changes, discuss the bifurcation seen across office headlines, and share transactions in multifamily and industrial. Happy Thanksgiving to all our listeners! Tune in now.
Episode Notes
Economic Update (0:23)
Consumer Confidence and The Tale of Two Consumers (1:38)
Home sales and home prices (4:35...2024-11-2754 min
The TreppWire Podcast: A Commercial Real Estate Show291. Bobbing & Weaving: Blackstone Bets, Broker Fees Banned, Mayweather's Office Play, SASB Credit StoriesIn this week's episode of The TreppWire Podcast, we discuss whether the Fed is going to cut rates in December, the potential implications of Trump tariff talks, and the news of NYC banning tenant-paid broker fees. We talk through Blackstone striking a deal to buy Jersey Mike’s, Floyd Mayweather Jr. swinging on an office investment, and other celebrities entering the commercial real estate space. We share several large trading alerts from the week, including a few single-asset, single-borrower (SASB) credit stories. Tune in now.
Episode Notes:
- Economic Update (0:23)
- N...2024-11-221h 01
The TreppWire Podcast: A Commercial Real Estate Show290. Rates are up, but so is Optimism? What the Numbers are Saying: Special Servicing Rates, Treasury Yields, CPI & Credit StoriesThis episode is sponsored by The Henley Group.
In this week's episode of The TreppWire Podcast, we breakdown more macroeconomic news following the election, as well as the October Senior Loan Officer Survey (SLOOS) that was conducted prior to the election. We dive into Q4 2024 Real Estate Roundtable Sentiment Survey results and tease out Trepp’s newly published Special Servicing Report with October numbers. We close this week’s episode with several office, multifamily, and retail credit stories from the week. Tune in now.
Episode Notes:
Economic Update (0:25)
Real E...2024-11-1549 min
The TreppWire Podcast: A Commercial Real Estate Show289. The (Swing) State of Real Estate: Election Results & CRE Impact, Fed Conundrum, Treasuries, & $100B in IssuanceThis week was a big one. In this week's episode of The TreppWire Podcast, we unpack it all - from how the incoming Trump Administration could impact commercial real estate (CRE) markets, to the Federal Reserve cutting interest rates for the second time this year. We discuss the “higher for longer” narrative, the impact of monetary policy on transactions, and how issuance should hit $100B this year. We also dig into the major CRE headlines from the week - including Blackstone’s $4B all-cash deal and Starwood’s $244M industrial park sale – and wrap up with notable office, retail, and multif...2024-11-0843 min
The TreppWire Podcast: A Commercial Real Estate Show288. Demystifying NY Multifamily Rent Control & Rent Stabilization with Avi Schron, Cammeby's InternationalIn this timely and special guest episode of The TreppWire Podcast, we are joined by Avi Schron of Cammeby's International. Avi breaks down the difference between rent control and rent stabilization, shares his perspective on how multifamily rent control developed, and unpacks some of the biggest challenges that multifamily operators in NYC are currently facing. We also dive into rent stabilization’s impact on multifamily properties and share Trepp data that adds to the New York narrative. We discuss the role of data, technology, and innovation in the CRE industry, and wrap up the episode with Avi’s insights and...2024-11-0441 min
The TreppWire Podcast: A Commercial Real Estate Show287. Hope is Not a Strategy: CRE Extend & Pretend, Home Mortgage Rates, & Hot Hitting StoriesIn this week's episode of The TreppWire Podcast, we cover the recent mixed bag of GDP, consumer spending, and homes sales data. We also discuss the hot topics of the week, including the Fed staff report on “extend-and-pretend” and the LA Market with Dodgers winning the World Series. We wrap up the episode with more office loans being transferred to special servicing, but end on some positive credit stories. Tune in now.
Episode Notes:
- Economic Update (0:51)
- Average Home Mortgage Rate (5:08)
- Look into the LA Market (9:09)
- "Exte...2024-11-0147 min
The TreppWire Podcast: A Commercial Real Estate Show286. Bond Market Blues & CRE News: Special Servicing Transfers, Office Struggles, & Industrial Sales TransactionsIn this week's episode of The TreppWire Podcast, we examine the bond market selloff and rising yields impacting CRE ahead of a data-heavy economic calendar. We analyze a wave of special servicing transfers, including significant office properties in Boston and New York, and a major retail property in Portland. We also
discuss notable transactions in the multifamily and industrial sectors, including deals in Virginia, California and Washington state. Tune in now.
Episode notes:
- Economic Update (0:23)
- Multifamily news: Midtown Manhattan building for sale, 3 Illinois and Kansas senior-living loans sent...2024-10-2555 min
The TreppWire Podcast: A Commercial Real Estate Show285. CRE Pulse Check with Tri-State Insider James Nelson of Avison YoungIn this special guest episode of The TreppWire Podcast, we are joined by James Nelson, Principal and Head of Tri-State Investment Sales at Avison Young, and renowned investment sales broker. James shares his journey into commercial real estate (CRE), his insider advice for others in the market, and his thoughts on the current state of play in NYC. We also discuss office-to-residential conversions, the importance of knowing the data - and of course - the impact of interest rate cuts on the industry. Tune in now.
Episode Notes:
Start in CRE & Current Role (1:41)
Bullish on Multifamily (5:15)
...2024-10-2335 min
The TreppWire Podcast: A Commercial Real Estate Show284. Turbulence Before Touchdown, Bank Earnings, Retail Store Closures & Knockout Acquisition DealsIn this week's episode of The TreppWire Podcast, we discuss the anticipated bond market volatility surrounding the upcoming U.S. presidential election and analyze recent bank earnings that suggest a potential soft landing. We break down several office loans struggles, including major value reductions and special servicing transfers. We also share signs of shakiness in the retail market, highlighted by drugstore and discount store closure announcements. On a brighter note, we share some multifamily transactions penciling in across the country. Tune in now.
Episode Notes: - Economic Update (0:24)
- Walgreens and 7-Ele...2024-10-1857 min
The TreppWire Podcast: A Commercial Real Estate Show283. Storms & Stats: Hurricane Milton, Inflation, Jobs, Special Servicing Spike, & CRE Sector Stories
In this week's episode of The TreppWire Podcast, we analyze Hurricane Milton's impact on CRE, the latest CPI reading (and drop-off in attention it is receiving), and the increase in jobless claims. We share data for special servicing rates and loan losses and dig into recent credit stories including office market trends, retail special servicing issues, and multifamily property transactions. We also explore industrial sector performance and lodging market shifts. Tune in now.
Episode Notes:
- Macro news: Hurricane Milton, new CPI reading, Fat Bear Week (0:23)- Insurance premium risk (8:00)...2024-10-1157 min
The TreppWire Podcast: A Commercial Real Estate Show283. Storms & Stats: Hurricane Milton, Inflation, Jobs, Special Servicing Spike, CRE Sector StoriesIn this week's episode of The TreppWire Podcast, we analyze Hurricane Milton's impact on CRE, the latest CPI reading (and drop-off in attention it is receiving), and the increase in jobless claims. We share data for special servicing rates and loan losses and dig into recent credit stories including office market trends, retail special servicing issues, and multifamily property transactions. We also explore industrial sector performance and lodging market shifts. Tune in now.
Episode Notes:
- Macro news: Hurricane Milton, new CPI reading, Fat Bear Week (0:23)
- Insurance premium risk (8:00)
- CMBS Special Servicing Report (11:45)
- CMBS Loan Losses (17:49)
-Office...2024-10-1157 min
The TreppWire Podcast: A Commercial Real Estate Show283. Storms & Stats: Hurricane Milton, Inflation, Jobs, Special Servicing Spike, CRE Sector StoriesIn this week's episode of The TreppWire Podcast, we analyze Hurricane Milton's impact on CRE, the latest CPI reading (and drop-off in attention it is receiving), and the increase in jobless claims. We share data for special servicing rates and loan losses and dig into recent credit stories including office market trends, retail special servicing issues, and multifamily property transactions. We also explore industrial sector performance and lodging market shifts. Tune in now.
Episode Notes:
- Macro news: Hurricane Milton, new CPI reading, Fat Bear Week (0:23)
- Insurance premium risk (8:00)
- CMBS Special Servicing Report (11:45)
- CMBS Loan Losses (17:49)
-Office n...2024-10-1157 min
The TreppWire Podcast: A Commercial Real Estate Show282. Commodity vs. Authority in CRE Brokerage: Motivation & Insights with The Massimo GroupIn a special episode of The TreppWire Podcast, we partnered with The Massimo Group to step away from the data and break down the practice of exceptional CRE brokerage. Rod Santomassimo and Mike Gallegos share their advice and feedback for CRE participants looking to dominate in this industry, across various asset classes, market cycles, and geographies. Given where we're at in the cycle, we examine what differentiates commodity brokers vs. industry-leading brokers. Tune in now.
If you want to attend MassimoCon, use discount code Trepp at checkout: https://xm105.infusionsoft.app/app/orderForms/04d15fa3-ead6-4cb3-9d08...2024-10-0835 min
The TreppWire Podcast: A Commercial Real Estate Show281. Resiliency or is CRE Comfortable with the Uncomfortable? Strikes, Storms, & DelinquenciesThis week, before 45,000 dockworkers at 36 American ports went on strike, Fed Chair Powell stated that the U.S. economy is in solid shape and the Fed intends to keep it that way... In this week's episode of The TreppWire Podcast, we break down the news of the week, including the port strike, Fed speak, and macro figures like jobs and PMI, and explain the impact on CRE. We also share our latest data for CMBS and bank CRE loan delinquencies, and examine the immediate impact of Hurricane Helene on CRE. Tune in now.
Episode notes:
Economic update (0:25)
Debt market insights (6:45)
S...2024-10-0454 min
The TreppWire Podcast: A Commercial Real Estate Show280. CRE Industry Reacts to Rate Cut, Bullish Las Vegas Hotel Sector, & More Office StoriesIn this week’s episode of The TreppWire Podcast, we navigate commercial real estate experts’ takes on the Fed’s decision to cut rates by 50 basis points. We also share Trepp’s top and bottom three Metropolitan Statistical Areas (MSAs) based on CRE performance. In a digging through the data segment, we discuss self-storage debt yields by origination year, as well as full- and limited-service hotel delinquency comparisons. We wrap up with office, retail, and multifamily credit stories to note from this week. Tune in now.
Episode Notes
- CRE Industry’s Reaction to the Fed Rate Cut (0:56)
- August MSA Report...2024-09-2749 min
The TreppWire Podcast: A Commercial Real Estate Show279. Want Perspective? Market Deep Dive with a Firm that Sees it All – Starwood Property TrustIn this special guest episode of The TreppWire Podcast, we are joined by Adam Behlman, Adrienne Coyle, and Natan Bresler of Starwood Property Trust (Starwood). The Starwood team walks us through the background of their firm and the launch of Starwood Solutions. We talk through CMBS market trends and insights on how this market compares to others that we have seen over the years. We also discuss commercial real estate cycles, recent Trepp data, and a sense of optimism in the industry.
Episode Notes:
- Starwood Background (1:14)
- Comparing This Year to Last Year (9:25)
- Thoughts on Multifamily (18:05)
- Solution-side...2024-09-2445 min
The TreppWire Podcast: A Commercial Real Estate Show278. Where Were You When the Fed Cut Interest Rates?, CMBS Trading Alerts, & MoreIn this week's episode of The TreppWire Podcast, we discuss the Fed’s announcement to cut interest rates by 50 basis points, our initial reactions, and how this could potentially impact the CRE market. But we are not out of the woods yet – we also break down several credit stories in the office, retail, and lodging sectors, including recent trading alerts about more loans being transferred to servicing. Tune in now.
Episode Notes:
- Fed Rate Interest Cut (00:30)
- Office Stories: Valuation Reductions, Special Servicing Moves (18:38)
- Amazon Back to Office (27:32)
- Big Lots Filing for Bankruptcy (33:40)
- Retail News (36:51)
- Lodg...2024-09-1950 min
The TreppWire Podcast: A Commercial Real Estate Show277. Beyond the Cubicle: What Does the Office Data Really Show? LIVE at California MBA WSCREFIn a special live edition of The TreppWire Podcast recorded at the California MBA Western States CREF conference, the team is joined by Chad Carpenter, CEO & Chairman of Reven Office REIT to dig into the state of the office market. We go beyond the cubicle and talk all things distress rates, metro areas to watch, criticized loan data, office loan losses, and more. Chad shares stories about taking advantage of the capital void for office debt and what originations have been like. Get access to the slides from this presentation here: https://www.trepp.com/instantly-access-western-cref-presentation. Tune in now.
This...2024-09-171h 00
The TreppWire Podcast: A Commercial Real Estate Show276. Commercial Property Insurance Insights with Skylar RominesIn this special guest episode of The TreppWire Podcast, we are joined by Skylar Romines, Founder and Owner of ATW Advisors, and self-proclaimed insurance nerd. Skylar walks us through her journey from being a commercial insurance broker to filling a critical gap in the market by starting her own company. We also discuss the state of the commercial property insurance market and the wider impact on the real estate finance industry. Tune in now.
Episode Notes:
- Background & Founding ATW (1:10)
- State of the Insurance Market (4:45)
- Helping Clients & Benefits (10:50)
- Current Insurance Crisis (18:15)
- Specific Challenges & Solutions (23:06)
Role of Soci...2024-09-1235 min
The TreppWire Podcast: A Commercial Real Estate Show275. Weak JOLTS Report, Marginal Rent Growth, & More Loans Transferred to Special ServicingIn this week's episode of The TreppWire Podcast, we cover a weaker than expected JOLTS report, how major apartment-owning REITs saw marginal rent growth in Q2 2024, and other recent industry headlines. We also discuss two multifamily loans that were transferred to special servicing, as well as more office and superregional mall loan value reductions. Tune in now.
Episode Notes:
Economic Update (00:23)
Major Apartment REITs See Marginal Rent Growth (09:56)
Multifamily Loans to Special Servicing (18:57)
Office Segment (23:52)
Superregional Mall Value Lowered (29:18)
Shoutouts (32:48)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
Questions or comments? Contact us at podcast@trepp.com.
...2024-09-0537 min
The TreppWire Podcast: A Commercial Real Estate Show274. Is the Rent too Damn High?, Multifamily Deep Dive, Data Center Data, & Delinquency Sneak PeekIn this week's episode of The TreppWire Podcast, we cover the recent focus on the cost of housing (is the rent too damn high?), providing a deep dive into the multifamily sector. We also share data center data (or da-ta?), and give a sneak peak of our latest CMBS Delinquency Report. We also discuss struggling mall and retail loans, an array of office property value reductions, and other loans sent off to special servicing. Tune in now.
Episode Notes:
- Economic Update (1:28)
- Is the Rent too Damn High? (6:10)
- NYC Multifamily Properties (17:19)
- Data Center Data (19:10)
- Delinquency Preview (23:37)
...2024-08-2951 min
The TreppWire Podcast: A Commercial Real Estate Show273. Summer of Special Servicing, Trimont's Ascension, August Property Transfers, MSA Bulls & BearsAs we enter the sleepy dog days of summer, we have a lot to breakdown. In this week's episode of The TreppWire Podcast, we cover a streak of positive economic data in August, Trimont going from the 10th to the 1st U.S. Special Servicer, property downturn creating best opportunity in decades, and other impactful headlines from the week. In a special servicing segment, we discuss several office, mall, and mixed-use loans. Tune in now.
This episode is sponsored by CREi Summit: www.creisummit.com
Episode Notes:
- Economic Update (1:00)
- Rock Center Reinvention (8:29)
- Property Downturn CRE Opportunity (11:34)
...2024-08-2343 min
The TreppWire Podcast: A Commercial Real Estate Show272. From Wall Street to Y'all Street: Economic Shifts, Hotel Woes, & Office Loan ChallengesAfter a volatile week, we're settling back into a more typical cycle. In this week's episode of The TreppWire Podcast, we cover the recent domestic inflation, labor, and retail spending data, struggling hotels in San Francisco, and Texas’ growing financial hub. We also discuss a large SASB loan being transferred to special servicing, Vornado eyeing refinancing in Manhattan, and much more. Tune in now.
Episode Notes:
- Economic Update (1:18)
- San Francisco Hotel News (10:24)
- Texas' Transformation (17:24)
- Credit Stories (23:31)
- Digging Through the Data (34:00)
- Programming Notes & Shoutouts (41:40)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
Qu...2024-08-1643 min
The TreppWire Podcast: A Commercial Real Estate Show271. Building Real Estate & Community with Sean Sweeney; Development, Design, and EducationIn this special guest episode of The TreppWire Podcast, we are joined by Sean Sweeney, co-founder of Hall Sweeney Properties and The Bright Build. Sean takes us on his journey from aspiring actor to real estate developer, sharing how he leveraged his initial success in Minneapolis to build a thriving career. We also hear about the work Sean is doing to help aspiring developers and the importance of enhancing the community with development projects. Tune in now.
Episode Notes:
- Entering the real estate world (1:05)
- Building on the success of the first project (8:42)
- Future projects and expansion (13:26)
...2024-08-1231 min
The TreppWire Podcast: A Commercial Real Estate Show270. The Carry Trade Selloff, Regional vs. Superregional Mall Distress, & Appraisal Reduction TrendsAfter U.S. stocks had their biggest drop since 2022 and the Treasury Yield Curve un-inverted, there is a lot to digest in economic data. In this week's episode of The TreppWire Podcast, we discuss the continued uncertainty and what it could mean for issuance and lending standards. We also compare regional and superregional mall distress, breakdown recent special servicing stories, and give a sneak peek of our office valuations data. Tune in now.
Episode Notes:
• Economic Update (0:23)
• Regional vs. Superregional Mall Distress (10:04)
• Tightening Lending Standards (18:55)
• Office News (23:16)
• Retail Special Servicing (34:38)
• Mixed Use to Foreclosure (36:05)
• Office Valuations & Loan Losses (44:46)
• Shoutouts (47:27)
Please take our listene...2024-08-0951 min
The TreppWire Podcast: A Commercial Real Estate Show269. Fed Holds Steady, Indices Predict Pricing Bottom, Insurance Costs, & Office Delinquencies RiseIn this week's episode of The TreppWire Podcast, we discuss the Fed's decision to hold rates steady and what the future of interest rate decisions will mean for CRE performance. We also break down if it is too soon to call a bottom for the market. We share more data about insurance costs, the latest CMBS delinquency figures, and stories for retail, office, and lodging. Tune in now.
Episode Notes:
- Economic update (0:23)
- Bottom nears for CRE? (9:30)
- July CMBS delinquency data (16:57)
- Insurance costs climbing (23:38)
- Office news (29:00)
- Retail appraisal reductions (32:59)
- Lodging sector (34:57)
- Shoutouts (40:05)
Please t...2024-08-0147 min
The TreppWire Podcast: A Commercial Real Estate Show268. Bank CRE Portfolio Deep Dive, SASB Analysis, Special Servicer Transfers & Appraisal ReductionsIn this week's episode of The TreppWire Podcast, we break down the news of Blackstone's dividend cut and discuss stronger-than-expected GDP. In a few deep dive segments, we look at SASB bonds backed by delinquent office loans, share a true analysis of bank office exposure, and provide the latest multifamily origination trends. We close with stories about loans moving to special servicing and new appraisal changes. Tune in now.
This episode is sponsored by CREi Summit: creisummit.com/
Episode Notes:
Economic Update (0:23)
Blackstone's dividends cut (4:00)
SASB analysis (10:43)
Bank CRE office exposure (15:45)
Multifamily origination trends (24:45)
San Francisco's Parkmerced has value slashed (33:30)
...2024-07-2552 min
The TreppWire Podcast: A Commercial Real Estate Show264. Firms Commit to Deploy Dry Powder, Banks Begin to Sell NPLs, Delinquency & SASB UpdateIn this week's episode of The TreppWire Podcast, we break down the resurgence of major commercial real estate players and their capital allocation strategies. We provide the latest data on bank CRE loan and CMBS delinquencies, explore trends in the office SASB market, and share insights on office sales, including properties listed on auction sites. Tune in now.
Episode Notes:
Blackstone commit to deploy $65 billion dry powder (1:25)
Malls into minicities (5:33)
Superregional mall feud (9:02)
Banks dumping real estate loans (13:50)
Bank CRE loan performance and CMBS delinquencies (18:12)
Mezzanine lender intervenes on Gas Company Tower (26:35)
Online office auction (29:15)
Large apartment acquisition (33:05)
SASB office...2024-06-2849 min
The TreppWire Podcast: A Commercial Real Estate Show262. Gritty Optimism in CRE, Need for Price Discovery, & Mixed Multifamily NarrativesIn this week's episode of The TreppWire Podcast, the team unpacks the gritty optimism surrounding CRE that dominated discussions at CREFC. We also discuss the latest inflation reading and the narrative after the Fed opted to hold interest rates steady. In office, more loans head to special servicing, but it wasn't all bad news for the sector. We also break down the narrative in the multifamily market. Tune in now.
This episode is sponsored by Marketplace: https://rimarketplace.com/?utm_source=credirect&utm_medium=podcast_paid&utm_campaign=june2024
Episode Notes:
- CREFC recap & inflation + interest rate headlines (0:23)
- Office...2024-06-1551 min
The TreppWire Podcast: A Commercial Real Estate Show261. Will Fed Follow Canadian & European Rate Cuts? Foreclosures 101, Modification InsightsThis week, some of the biggest headlines came from overseas. In this episode of The TreppWire Podcast, we discuss if any moves by Canada and Europe will change anything for the Fed. We also put our professor hats on to provide some insight into delinquencies, foreclosures, modifications, and more. Stick around as we break down the stories we're tracking in office, retail, lodging, and mixed-use. Tune in now.
This episode is sponsored by Marketplace: https://rimarketplace.com/?utm_source=credirect&utm_medium=podcast_paid&utm_campaign=june2024
Episode Notes:
- Interest rates around the globe (0:23)
- Informational technology outflows, Dollar T...2024-06-0852 min
The TreppWire Podcast: A Commercial Real Estate Show260. Stick to the Economic Data or Trust Your Gut?; Analyzing Loan Modification TrendsIn this week's episode of The TreppWire Podcast, we tackle a mixed bag of data as Treasury Yields rise. As we approach new theses week over week, do you stick to the data or trust your gut? We also unpack our latest loan modification trends report, dive into the upcoming volume of office loan maturities, and explore recent transaction and CMBS stories across property types. Tune in now.
This episode is sponsored by AEI Consultants: https://aeiconsultants.com/
Episode Notes:
- Economic update: Treasury yields pushed higher (0:23)
- Consumer confidence reading (6:48)
- Loan modification trends (9:05)
- Maturing office loans (13:10)
- O...2024-05-3156 min
The TreppWire Podcast: A Commercial Real Estate Show257. Unemployment Uptick, SLOOS Commentary, Met Gala GrumblingsIn this week's episode of The TreppWire Podcast, we analyze the latest Senior Loan Officer Opinion Survey (SLOOS) as banks clamp down on CRE lending across the board. We dissect the latest jobs report and its impact on the market as well as the latest stories across property types. The team also shares their takes on the Met Gala's fashion hits and misses. Tune in now.
Episode Notes:
- SLOOS commentary (2:44)
- Jobs market and unemployment data (6:35)
- We don't talk about rate hikes... (9:26)
- Major hospital bankruptcy (11:26)
- Office stories (14:06)
- Multifamily headlines (22:54)
- Hotel sales (32:59)
- Retail outlet l...2024-05-0945 min
The TreppWire Podcast: A Commercial Real Estate Show256. Justin Pugh's Playbook: From the NFL to CRE Success & MentorshipIn this special guest episode of The TreppWire Podcast, we are joined by NFL offensive lineman for the New York Giants and savvy real estate investor, Justin Pugh. Justin talks us through his journey in the NFL and offers insights into the reality of professional football. He also dives deep into his transition into the real estate space with a touchdown on his passion for mentoring those with future aspirations to succeed in the industry. Tune in now.
Episode Notes:
- Journey to the NFL (1:20)
- Why real estate? (4:27)
- Juggling plays and textbooks (7:48)
- Financial reality of being in...2024-05-0225 min
The TreppWire Podcast: A Commercial Real Estate Show254. Data Vault Unlocked: Modifications, Maturities, Mortgages; Property Types by the NumbersThis week's episode of The TreppWire Podcast was recorded early, so the team used this time to provide our listeners with a breakdown of the topics the market has been focused on lately: maturities, modifications, CRE risk pricing, cap rates, and more. In our usual fashion, we also dive into the CRE property types, but today, we share delinquency, DSCR, debt yield, and other important data points to note for each sector.
Episode Notes:
- Extend and pretend? Background and history (2:13)
- Is there a silver lining for office properties that can extend? (6:48)
- How have changing rates related to...2024-04-261h 02
The TreppWire Podcast: A Commercial Real Estate Show253. Powell's Reverse Pivot, Strong Mall Issuance, Property Transactions, & Appraisal ReductionsBetween the retail sales report, comments from Fed Chair Powell, and tensions in the Middle East, there’s been a lot to digest recently. In this week's episode of The TreppWire Podcast, we break down Powell's pivot and in CRE, dig into a large multifamily transfer to special servicing, new regional mall CMBS issuance, and share stories on property transactions and appraisal reductions. Tune in now.
This episode is sponsored by Marketplace: https://rimarketplace.com/esahotels#utm_source=credirect&utm_medium=preroll_paid&utm_campaign=hospitality
Episode Notes:
- Economic update: Fed comments (0:23)
- Bank earnings (9:46)
- $1.5B multifamily loan tr...2024-04-1957 min
The TreppWire Podcast: A Commercial Real Estate Show251. Navigating the Evolving Mall Space with Oscar Parra of Pacific Retail Capital PartnersIn this special guest episode of The TreppWire Podcast, Oscar Parra, CFO of Pacific Retail Capital Partners, joins the team to share a deep dive into the shopping mall asset class. Oscar reveals how to identify opportunities and navigate challenges within the evolving mall space. Oscar breaks down some recent transactions and shares the details of a $2.5 billion mall redevelopment. Tune in now.
Episode Notes:
Background (0:58)
Position in the enclosed mall space (4:16)
Identifying opportunities and navigating challenges (6:35)
Mixed-use malls? (12:25)
Breaking down mall acquisitions (19:26)
Managing municipalities (27:14)
Breaking down a mall sale (35:46)
$2.5 billion mall redevelopment (39:36)
Please take our listener feedback survey: www...2024-04-0845 min
The TreppWire Podcast: A Commercial Real Estate Show249. Are CRE Distress & Optimism Mutually Exclusive? Green Shoots, Crabgrass, & Bank Loan DataIn this week's episode of The TreppWire Podcast, we ask the question: 'Is distress in commercial real estate a result of lagging indicators or is market optimism winning the narrative battle?' after breaking down positive economic signals but cautioning that CRE might not be out of the woods yet. We also share green shoots and crabgrass across the asset classes and provide a sneak peek into our bank CRE loan performance data. Tune in now.
Episode Notes:
- Economic and market update (0:23)
- Illiquidity of CRE, lags in real estate (5:15)
- Bank CRE loan data (9:21)
- Retail crabgrass (11:49)
...2024-03-2946 min
The TreppWire Podcast: A Commercial Real Estate Show248. 2024 Rate Cuts? Details in the Dot Plot; Joann Bankruptcy; CRE Appraisal ReductionsAfter the Fed meeting this week and signs that there will be interest rate cuts in 2024, we ask ourselves if the 'devil is in the Fed Dot Plot'. In this week's episode of The TreppWire Podcast, we also analyze housing starts, Joann fabric's bankruptcy filing, stories of value reductions for malls, San Francisco's latest sublease space, and several multifamily, lodging, and industrial stories. Tune in now.
Episode Notes:
- Economic update: Fed meeting (0:23)
- Housing starts (8:31)
- FDIC disposition of SVB loans (12:00)
- Retail transactions (15:01)
- Joann fabric bankruptcy (16:03)
- Retail CRE news (19:55)
- Office stories (32:07)
- Multifamily transactions (37:38)
...2024-03-2351 min
The TreppWire Podcast: A Commercial Real Estate Show247. Warm Inflation, Cool Retail Sales, & Family Dollar Stores Being Put on IceIn this week's episode of The TreppWire Podcast, we break down the economic headlines along with the news of Family Dollar closing 1,000 stores. We also dig into retail and multifamily transactions, crab grass + a potential mixed-green for office, and more in lodging and industrial. Tune in now.
Episode Notes:
- Economic update (0:23)
- Dollar Tree closures/ Family Dollar news (2:22)
- Cash-in mall refi (10:32)
- Retail transactions (15:01)
- Office news (16:44)
- Multifamily sales and financing (30:43)
- Lodging news (36:31)
- Industrial (44:22)
- Shoutouts (47:58)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
Questions or comments? Contact us at podcast@trepp...2024-03-1557 min
The TreppWire Podcast: A Commercial Real Estate Show245. Leaping Through Data – Macy’s, Malls, Delinquency Report, & Discounted PayoffsIn this week's episode of The TreppWire Podcast, we break down PCE data, Macy's store closure news and the exposure in CRE, and Trepp's latest figures for CMBS delinquencies. Across property types, we review stories about loans heading to special servicing, property valuation reductions, and discounted payoffs. We also share a review of REIT earnings. Tune in now.
Episode Notes:
- Economic update (0:23)
- Macy's store closures (4:50)
- CMBS delinquency report (9:35)
- REIT earnings (13:38)
- Office crabgrass (19:04)
- Multifamily sales (28:27)
- Retail news (30:56)
- Lodging (37:44)
- Industrial and self-storage (44:32)
- Shoutouts (46:27)
Please take our listener feedback survey: www.surveymonkey.com...2024-03-0154 min
The TreppWire Podcast: A Commercial Real Estate Show244. Office Valuations, Malls Not out of the Woods?, AI Question Marks for CREIn this week's episode of The TreppWire Podcast, we break down office valuation stories and the idea that despite positive retailer earnings reports, malls may not be out of the woods yet. We also cover several multifamily transaction headlines, and news for the retail, lodging, and industrial sectors. Tune in now.
Episode Notes:
- Economic update: Fed minutes, jobless claims, AI (0:23)
- New office transaction in Seattle (4:11)
- Atlanta office story (8:45)
- Chicago office value decline (13:24)
- Sublease story (15:17)
- Malls not out of the woods? (18:26)
- Retail property sales (23:59)
- Multifamily transactions (26:25)
- Lodging (30:26)
- Industrial sale (32:45)
- Shoutouts (33:53)
...2024-02-2238 min
The TreppWire Podcast: A Commercial Real Estate Show242. CRE & Bank Turmoil Strikes Mainstream Media Chord; Surveys, Sales, & Shout outsThis week, anyone outside of CRE may have thought markets were improving. But one quick search reveals that mainstream media is now all over what we’ve been talking about for many months. In this episode of The TreppWire Podcast, we break down the headlines, while also sharing industrial transaction stories and news for office, retail, multifamily and hotel properties. Tune in now.
Episode Notes:
- Economic update (0:23)
- CMBS loan losses (7:01)
- Industrial sales (10:41)
- Office (16:46)
- Retail news (28:33)
- Multifamily stories (33:07)
- Shoutouts (41:36)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
Questions or comments? Contact us...2024-02-0948 min
The TreppWire Podcast: A Commercial Real Estate Show241. Commercial REality Check: What Fed Pivot? & More with Danielle DiMartino Booth and Dan McNamaraIn this week's episode of The TreppWire Podcast, we are joined by two market experts, Danielle DiMartino Booth, CEO & Chief Strategist at Quill Intelligence, and Dan McNamara, Founder & CIO of Polpo Capital. After a week full of headlines, we discuss the 'cold water' that seems to have been thrown on the recent resilience and soft-landing narrative. Join us as we talk layoffs and what the jobs numbers really mean, CMBS issuance, increasing recession fears, maturity walls, and faltering CRE fundamentals. Tune in now.
Episode Notes:
- Breaking down the week's news (0:47)
- Inflation numbers and hotels; layoffs and jobs (7:02)
...2024-02-0249 min
The TreppWire Podcast: A Commercial Real Estate Show240. Immaculate Disinflation?; Retail & Hotel Sales; Office Operating ExpensesIn this episode of The TreppWire Podcast, we review the latest economic data points and whether what we're seeing is contributing to the "immaculate disinflation" narrative. In CRE, we break down multifamily stories, transactions across the country for retail and hotel properties, and share office stories that touch CMBS. We also dig in to our office operating expense report. Tune in.
Episode Notes:
- Economic update (0:23)
- Retail sales (8:51)
- Multifamily stories (15:24)
- Office property expenses (24:00)
- Office headlines (27:55)
- Lodging transactions (41:48)
- Shoutouts (47:06)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
Questions or comments? Contact us...2024-01-2653 min
The TreppWire Podcast: A Commercial Real Estate Show238. CRE Temperature Check at CREFC Miami: Resilience in a Wary MarketIn this week's episode of The TreppWire Podcast, we reflect on the CREFC Miami 2024 conference, and the parallels in terms of bullishness on the dovish Fed pivot. While there is a generally positive overtone as we head into 2024, there are underlying concerns that have yet to be addressed. We also dive into multifamily sales, office news, and a few stories for the retail and lodging segments. Tune in now.
Episode Notes:
- Economic update (0:23)
- CREFC conference sentiment (2:48)
- Multifamily sales and news (10:26)
- Office stories (21:35)
- Hotel discount sale (31:27)
- Retail headlines (35:32)
- Shoutouts (38:15)
Please take our listener feedback...2024-01-1243 min
The TreppWire Podcast: A Commercial Real Estate Show237. Structural Changes in CRE Debt Markets, Ares' Bryan Donohoe Helps Us Sort it OutIn a special guest episode of The TreppWire Podcast, we are joined by Bryan Donohoe, Partner and Co-head of Ares US Real Estate. Bryan breaks down the world of debt markets, lending, and originations. We break down past market disruptions, CRE fundamentals, and the structural changes in the CRE debt markets.
*This episode was recorded prior to the December 2023 Fed meeting.
Episode Notes:
- Background (1:00)
- Where are the debt markets today? (6:32)
- Is there optimism for CRE? (10:36)
- Geographies and property types positioned for success (12:01)
- Appetite for office? (16:06)
- Market outlook (20:15)
- What does Ares do best? (30:49)
...2024-01-1033 min
The TreppWire Podcast: A Commercial Real Estate Show236. New Year Normalization: December Delinquencies, Multifamily 101, Retail ResilienceIn this week's episode of The TreppWire Podcast, we discuss whether the decline in stocks and increase in bond yields was a sign of negativity or just a normalization in the market. We have a special multifamily 101 segment where we break down going in cap rates, not all income is "good income" and more. We also discuss our latest CMBS delinquency data and some headlines for retail, office, multifamily and hotels. Tune in now.
This episode is sponsored by Spinoso Real Estate Group: https://spinosoreg.com/mall-investment-opportunity-and-operating-platform/?utm_source=TreppWire&utm_medium=TreppWire+Digital+Content&utm_campaign=TreppWire+Dec+Jan+2023+2024+...2024-01-0541 min
The TreppWire Podcast: A Commercial Real Estate Show235. Taking Stock of 2023: A Look Back & Ahead for CRE FinanceAs the holiday season creates an expected slowdown for the markets, now is the time to take stock of 2023 and take a stab at what we can expect for 2024. In this week's episode of The TreppWire Podcast, we reflect on the year for commercial real estate, sharing thoughts and predictions for lending, issuance, interest rates, and distress. We also save room for some office, retail, and multifamily stories. Happy New Year to all our listeners! Tune in now.
This episode is sponsored by Spinoso Real Estate Group: https://spinosoreg.com/mall-investment-opportunity-and-operating-platform/?utm_source=TreppWire&utm_medium=TreppWire+Digital+Content&utm_c...2023-12-2952 min
The TreppWire Podcast: A Commercial Real Estate Show234. Holiday Blues No More? Falling Rates Shine Light at End of 2023 Tunnel for CREIn this episode of The TreppWire Podcast, we have a surprisingly busy episode for the holiday season, with several stories to share across the major CRE property types. It was another positive week for investors, and we break down what falling rates and contracting risk premiums mean for the market. We also share the latest data for commercial mortgage maturities. Tune in now.
This episode is sponsored by Spinoso Real Estate Group: https://spinosoreg.com/mall-investment-opportunity-and-operating-platform/?utm_source=TreppWire&utm_medium=TreppWire+Digital+Content&utm_campaign=TreppWire+Dec+Jan+2023+2024+Sponsorship
Episode Notes:
- Economic update (0:23)
- Commercial mortgage maturities (8:05)
- O...2023-12-2048 min
The TreppWire Podcast: A Commercial Real Estate Show233. Rates Plummet After Fed Announcement: Is it Enough to Kickstart the CRE Market? Our Hot TakesIn this episode of The TreppWire Podcast, we digest the Fed’s decision to hold rates steady, along with the declaration that there will be three rate cuts in 2024. We share our initial reactions, the 'nirvana day' market reaction and our hot takes on what it means for CRE, CMBS issuance, and bank lending. We also share some major office and retail headlines, showing it isn’t all roses in the CRE market. Tune in now.
This episode is sponsored by Spinoso Real Estate Group: https://spinosoreg.com/mall-investment-opportunity-and-operating-platform/?utm_source=TreppWire&utm_medium=TreppWire+Digital+Content&utm_campaign=TreppWire+Dec+...2023-12-1454 min
The TreppWire Podcast: A Commercial Real Estate Show232. Lending & Leases & CRE Sales (Oh My!) But Still Plenty of CRE BearsThere has been plenty of cautious optimism in the economic and commercial real estate markets lately. In this week's episode of The TreppWire Podcast, we discuss what a year-end rally means to sellers on the fence. We also break down this week's gains, dive into green shoots and crab grass for the office and retail markets, and debate renting vs. buying. Tune in now.
Episode Notes:
Economic update (0:23)
Year-end rally? What happens to sellers on the fence? (3:07)
Mortgage REIT originations (12:50)
European CMBS issuance (14:20)
Taylor Swift: CRE's MVP (16:44)
Retail headlines (18:00)
Office green shoots (24:04)
Office Trading Alert: ground lease retired (27:53)
Office crabgrass (32:04)
...2023-12-0747 min
The TreppWire Podcast: A Commercial Real Estate Show229. Alarm Bells from Retail Earnings; Reasons for Thanks in CREIn an early Thanksgiving edition of The TreppWire Podcast, we review concerns from the latest retail earnings and what this means for interest rates and CRE. We dig through new loan maturities data, share stories for office and retail, and examine the news of Signature Bank’s multifamily loan sales. And finally, we close with the reasons we’re thankful for the CRE market this year – in former NFL coach and broadcaster John Madden’s "turkey leg" fashion. Tune in now.
Episode Notes:
• Economic update (0:23)
• Retail earnings deep dive (1:39)
• Retail sales and headlines (10:21)
• Office stories (17:21)
• Maturities with DSCR 2023-11-2352 min
The TreppWire Podcast: A Commercial Real Estate Show228. Carmen Spinoso Proves There is Still Value in Many US Malls, With Spinoso Real Estate GroupIn this special guest episode of The TreppWire Podcast, the team is joined by Carmen Spinoso, CEO of Spinoso Real Estate Group. With more than three decades of shopping mall experience, Carmen explains the different sides of the mall operating and leasing business, breaks down receivership and saving assets, shares optimism for the mall space, and reflects on malls during past crises. Tune in now.
Episode Notes:
- Background (0:23)
- Sides of the mall business (11:42)
- Receivership and saving assets (16:23)
- New leases getting signed (22:15)
- Glenbrook Square Mall (28:37)
- Optimism for malls (34:18)
-Experiential retail: Pickleball? and other mall magnets (40:12)
...2023-11-2148 min
The TreppWire Podcast: A Commercial Real Estate Show227. CPI Sends T-Yields Tumbling & REIT Shares Higher, But Retail CEOs Warn of Holiday SeasonThis week, a benign CPI reading sent Treasury yields plummeting and REIT shares higher and some big retail CEOs were saying beware of the holiday season. In this episode of The TreppWire Podcast, we make sense of the macro news and also analyze the latest on commercial real estate prices, dig into office and retail data, and examine criticized loans in the multifamily sector. Stick around if you’re a fan of Ambrosia. Tune in now.
This episode is sponsored by Spinoso Real Estate Group: https://spinosoreg.com/mall-investment-opportunity-and-operating-platform?utm_source=TreppWire&utm_medium=TreppWire+Digital+Content&utm_campaign=TreppWire+Oc...2023-11-1747 min
The TreppWire Podcast: A Commercial Real Estate Show224. Markets U-Turn as Treasury Yields & Risk Spreads Tumble; Mall Optimism; Bay Area Office PainIn this week’s episode of The TreppWire Podcast, we examine the market U-turn that the industry watched as treasury yields and risk spreads tumbled. We dive into new deals, our CMBS delinquency report and a large industrial loan that caused a spike in that rate, REIT earnings and some optimism from mall CEOs, and more pain for the Bay Area office market. Tune in now.
This episode is sponsored by Spinoso Real Estate Group: https://spinosoreg.com/mall-investment-opportunity-and-operating-platform?utm_source=TreppWire&utm_medium=TreppWire+Digital+Content&utm_campaign=TreppWire+Oct+Nov+2023+Sponsorship
Episode Notes:
• Economic update: Fed decision, spreads & rate...2023-11-0246 min
The TreppWire Podcast: A Commercial Real Estate Show221. War in Middle East; Office, Hotel, Multifamily, Industrial Comps for Buyers/Sellers to ProcessThere was a lot of economic data this week with CPI, PPI, Fed minutes, and earnings season beginning. But after last weekend’s carnage in Israel, we pause to balance the data and headlines amid the horror. In this week’s episode of The TreppWire Podcast, we also break down comps for office, hotels, multifamily properties, and industrial buildings. Tune in now.
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
Episode Notes:
• Economic update and the war in the Middle East (0:23)
• Loan payoffs hit 20-month low (9:45)
• Banking sector news (13:59)
• Valuations in the market (17:40)
• Office green shoots and crab grass (21:5...2023-10-1349 min
The TreppWire Podcast: A Commercial Real Estate Show219. Nowhere to Hide: CRE & CMBS Delinquencies, Jingle Mail, Dwindling Consumer ConfidenceThis week, rising Treasuries, oil prices, and cooler-than-expected economic data left nowhere for investors to hide. In this week’s episode of The TreppWire Podcast, we discuss the latest economic news, Jamie Dimon’s comments about a 7% Fed Funds rate, and break down the increase in delinquencies in both the CMBS and bank CRE loan markets. We also share several office and retail stories we tracked this week. Tune in now.
Episode Notes:
• Economic update (0:23)
• CMBS delinquencies (
• Bank loan delinquencies (
• Retail (37:46)
•
Questions or comments? Contact us at podcast@trepp.com.
Follow Trepp:
Twitter: www.twitter.com/TreppWire
LinkedIn: www.linkedin.com/company/tr...2023-09-2848 min
The TreppWire Podcast: A Commercial Real Estate Show218. Life, Lending, & Rock 'n' Roll: The Father of CMBS, Ethan Penner, Tells us How it all StartedIn a special guest episode of The TreppWire Podcast, we are joined by the pioneer of commercial real estate finance, Ethan Penner. Mr. Penner, known as the creator and 'father' of CMBS back in the 1990s, breaks down the lessons he learned through his life in CRE. We discuss the S&L crisis, guard rails for new market entrants, the cause of the Great Financial Crisis, how CMBS got started, and Ethan's new book. We also get to hear a bit about his famous rock 'n' roll parties. Tune in now.
This episode is sponsored by The Henley Group: https...2023-09-2651 min
The TreppWire Podcast: A Commercial Real Estate Show217. Extensions & Modifications, Insurance Rundown, REIT Bankruptcy, & Dot Plot DiscussionIn this week’s episode of The TreppWire Podcast, we break down the post-Fed decision discussion – with the focus on the Dot Plot and the 'higher for longer' narrative. In CRE, we take on the hot (but not hot enough) topic of insurance, discuss a REIT bankruptcy filing, share office crabgrass, and more multifamily comps with interesting cap rates. Tune in now.
Episode Notes:
- Post-Fed decision discussion: Dot Plot, higher for longer (0:23)
- Signature Bank CRE portfolio (8:12)
- Insurance expenses (11:37)
- Office (mostly) crabgrass (16:30)
- Retail (32:23)
- Multifamily comps (39:43)
- Shoutouts (42:24)
Questions or comments? Contact us at podcast@trepp.com...2023-09-2248 min
The TreppWire Podcast: A Commercial Real Estate Show214. September Swoon: Healthy Market Pause or More? FDIC Loan Sale; Pigs Fly: CA Office Green ShootsIs there a soft- or crash-landing looming? In this week’s episode of The TreppWire Podcast, we discuss a healthy pause in the markets, and debate whether something darker is lurking. Rising unemployment numbers and depleted household savings don’t deter the commercial real estate green shoots, and we even see positive signs for the California office market. We also break down the FDIC sale of Signature Bank’s loans, and share multifamily, retail, hotel, and industrial news. Tune in now.
Episode Notes:
Economic update: stocks, jobs (0:23)
FDIC loan sale (9:45)
Positive office stories (13:57)
Other happenings in office (20:45)
Apartment sale and multif...2023-09-0750 min
The TreppWire Podcast: A Commercial Real Estate Show212. Get the 'Knak' with CRE Legend Bob Knakal: Data-Driven Update, Retail Green Shoots, PolicyIn this special guest episode of The TreppWire Podcast, Bob Knakal, Head of NY Private Capital Group at JLL, and legendary NYC CRE sales broker, joins the team to give a data-driven state of the market. We talk about data that moves the market, liquidity in the current environment, transaction volume stats, retail green shoots, public policy, Seinfeld, and much more. Tune in now.
Episode Notes:
- Knakal by the numbers (2:49)
- Liquidity in the current environment (4:37)
- What impacts transaction volume? (8:09)
- Comparison of past crises; when does risk come back on? (12:25)
- How do you serve the market...2023-08-2955 min
The TreppWire Podcast: A Commercial Real Estate Show210. Late Summer Blues: Can Rising Treasury Yields Stall the CRE Markets?Retailers and banks were the focus this week as retail sales and earnings dominated the news and talks of higher capital requirements for banks took a bite out of bank shares. In this week’s episode of The TreppWire Podcast, we back the latest macroeconomic news into commercial real estate and discuss if we think CRE is on an island of its own. We dive into a mix of office stories, multifamily news, retail headlines, and new loan originations Tune in now.
Episode Notes:
• Economic update (0:23)
• Backing the macro into CRE: CRE is an island (9:41)
• Office stories across the board (15:16)
• Multifamil...2023-08-1746 min
The TreppWire Podcast: A Commercial Real Estate Show206. Irrational Exuberance in the Markets?; Property Transfers & Deed-in-Lieu; Multifamily ExpensesThe markets seem to have gone from optimistic to exuberant over the last two weeks... In this week’s episode of The TreppWire Podcast, we discuss whether we are seeing 'irrational exuberance' yet, then dive into housing starts, jobless claims, retail sales, and bank earnings. In CRE, we break down several large office and retail stories, discuss more on multifamily syndicators, and take a look at property expense data across the US. Tune in now.
This episode of The TreppWire Podcast is sponsored by BetterPitch: https://www.betterpitch.com/
Episode Notes:
Irrational exuberance in the market? (0:23)
Macro data (4:09)
Bank earnings (9:27)
Go...2023-07-2051 min
The TreppWire Podcast: A Commercial Real Estate Show205. Risk On! Inflection Point or False Flag? Enthusiasm Everywhere, Bearishness in Short SupplyIn this week’s episode of The TreppWire Podcast, after the CPI and PPI readings came in, we question if the rally and equity pile on was the start of something bigger or a sign of participants getting ahead of themselves. We discuss borrowers handing back the keys, multifamily CRE CLO borrowing, bank earnings, and big stories for hotels, office valuations, subleases, and retail. Tune in now.
This episode is sponsored by BetterPitch: https://www.betterpitch.com/
Episode Notes:
- Economic update: CPI, PPI, company earnings (0:23)
- Risk back on, inflection or false start? (7:53)
- Multifamily CRE CLO borrowing (13:26)
- CR...2023-07-1251 min
The TreppWire Podcast: A Commercial Real Estate Show204. No Holiday Lull for CRE: Comps Galore, Big Office News, H1 CMBS RecapAlthough we expected a lull in market news and data during the holiday week, that was not the case for CRE. In this week’s episode of The TreppWire Podcast, we start with macro news that made headlines: jobs numbers, personal expenditures, and Treasury yields. We have a lot to cover in CRE with some large office stories, more sales comps across property types for the market to chew on, and a first half of 2023 CMBS recap of issuance, spreads, and pricing data. Buckle up for a ‘Live Wire.’ Tune in now.
Episode Notes:
• Economic update (0:23)
• First-half 2023 CMBS recap (6:40)
• Trepp Property Pri...2023-07-0644 min
The TreppWire Podcast: A Commercial Real Estate Show200. Cutting Through the Haze; Looming Hotel Default Renews Lodging Concerns; More Office SubleasesIn this week’s episode of The TreppWire Podcast, the Trepp team tries to cut through the haze (in the economic markets, CRE, and with regard to the smoke covering much of the Northeast). We discuss what may have seemed like a quiet week and what is really on the horizon. In property-type news, we dive into a story about a looming hotel default that is renewing concerns about the lodging market, and for office: there seems to be no end to the sublease news. Happy 200th episode of The TreppWire Podcast and thanks for listening! Tune in now.
This ep...2023-06-1051 min
The TreppWire Podcast: A Commercial Real Estate Show198. Charting CRE Distress from Peak to (Silicon) Valley: TreppWire Recorded LIVE at NAIOPIn a special episode of our week-in-review podcast, the team shares a live presentation we gave at NAIOP Silicon Valley’s Capital Markets event. We have a data-driven review of what’s happening to commercial real estate in the region and across the U.S. We dive into data on the recent bank turmoil, delinquencies and distress across the country, loan maturities, lease renewals, occupancy, and more. Tune in now.
If you are looking for the presentation that goes along with this podcast, send an email to podcast@trepp.com.
Episode Notes:
- Economic update (0:23)
- Silicon Valley: poised for rebi...2023-05-2654 min
The TreppWire Podcast: A Commercial Real Estate Show196. Storm Brewing… CRE Issues May be Least of Concerns; Retail Extensions; Rental Rates 101With concerns over the debt ceiling, credit tightening, and bank deposit runs, problems in commercial real estate may be the least of investors’ worries. In this week's episode of The TreppWire Podcast, we examine regional bank concerns and some promising fresh inflation data. In CRE, we talk good news for suburban retail, retail extensions, and more sublease stories. We also break down quoted versus effective rent. Tune in now.
Episode Notes:
• Economic news (0:23)
• Earnings (9:43)
• Good news for suburban retail? (13:35)
• Retail extensions (18:00)
• Trading Alerts (21:23)
• Negative office news: subleases (26:01)
• Quoted vs. effective rent (32:51)
• Office green shoot and crabgrass story (38:49)
• Multifamily story (41:06)
• Shoutouts (43:55)
Questions or comments...2023-05-1245 min
The TreppWire Podcast: A Commercial Real Estate Show195. Jittery Markets, More Bank Fallout, Office CompsThe yield on the 3-month treasury hit more than a 22-year high today, so, clearly, investors are jittery. In this week’s episode of The TreppWire Podcast, we explain what’s going on with the debt ceiling discussions, continued bank worries following the news of First Republic, and the economic uncertainty. In CRE, we cover the CMBS delinquency rate which held steady but revealed more concern for office, dive into comps and benchmarks for office, and review our Trading Alerts. Stick around to hear what ‘Siri’ says. Tune in now.
Episode Notes:
• Jittery market: debt ceiling, bank worries, economic uncertainty (0:23)
• First Republ...2023-05-0545 min
The TreppWire Podcast: A Commercial Real Estate Show194. Retail Apocalypse No More… Shifting Market Dynamics: TreppWire Recorded LIVE at ICSCIn a special episode of our week-in-review, the team shares a live presentation we put on for ICSC’s Continuing Education Michigan event, diving into the state of the retail market and the impact of macroeconomic events on commercial real estate. Here, we are joined by Emily D’Agostini Kunath of D’Agostini Companies to examine the “catchy” retail apocalypse theme, deciding if it still holds true in today’s market. We break down what current liquidity, lending, and capital issues mean for retail and decide where the opportunities lie.
If you are looking for the presentation that goes along with this po...2023-04-2444 min
The TreppWire Podcast: A Commercial Real Estate Show192. Good Vibrations in a Shaky Market? Some Even in OfficeIn this week’s episode of The TreppWire Podcast, the team dives into the latest economic news and jobs data. Next up, we give an update on banks and give a sneak peek of Trepp’s Q1 Bank Earnings analysis. Then we sing the office blues but do find positive office news, with big office loans to keep on your radar, and then debate if in-office is coming back …again. Stick around to hear multifamily news and a preview of Trepp’s AI podcast. Tune in now.
Episode Notes:
Economic and job data (0:25)
Update on Banks (7:07)
Two CMBS Deals Priced (10:06)
Return t...2023-04-1142 min
The TreppWire Podcast: A Commercial Real Estate Show185. Making Sense of $30 Trillion in Bills, A Debt Ceiling Clock, & QT with Danielle DiMartino BoothWe may not be fluent in Fed Chair Jerome Powell, but in this special guest episode of The TreppWire Podcast, we found an expert who is.
Danielle DiMartino Booth, CEO & Chief Strategist of Quill Intelligence, economist, and former Federal Reserve insider joins the team to make sense of the Fed Chair’s comments coming off the heels of the Senate Banking Committee meeting.
We talk about the size of US debt, quantitative tightening, interest rates and Qe2, and how this all can impact commercial real estate. Tune in now.
Episode Notes:
• Danielle DiMartino Booth intro (0:23)
• Making sense of Fed Chair Powell...2023-03-0840 min
The TreppWire Podcast: A Commercial Real Estate Show181. Hotels Roaring Back, Industrial Weakening, Tech Impact to OfficeIn this week’s episode of The TreppWire Podcast, we examine a few themes in commercial real estate: signs of improvement for the hotel market, a slowdown in industrial, and the impact of tech on the office sector. We also dive into the pricing of a new CMBS conduit deal, and cover some recent company earnings and what they mean for the markets at large. Tune in now.
Episode Notes:
• Economic news (
• Company earnings (6:39)
• Bed Bath & Beyond
• CMBS Conduit Deal (14:01)
• CMBS conduit deal ~17
• Self-storage ~17:17
• Industrial (21:07)
• Hotels (22:50)
• Office green shoots (27:05)
• Office crabgrass (31:13)
• Shoutouts (45:14)
Questions or comments? Contact us at podcast@trepp.com.
Follow Trepp:
Twitt...2023-02-1048 min
The TreppWire Podcast: A Commercial Real Estate Show178. CRE Transactions Drop, Big City Office Blues Hit Seattle, Japanese Bond MarketIn this week's episode of The TreppWire Podcast, we are watching the Japanese bond market, big bank earnings, the legal debt ceiling, retail sales, and housing news. In commercial real estate finance, we talk about retailer bankruptcies, the latest sales transaction data, office loans to watch, and sublease, sales, and vacancy stories across the country. Tune in now.
Episode Notes:
• Economic update: Fedspeak (0:23)
• Japan/debt ceiling (9:02)
• Mixed bag for bank earnings (12:08)
• Tech layoffs (18:01)
• Party City bankruptcy (19:17)
• Digging through the data: CRE transactions decline (22:37)
• Office loans to watch (26:11)
• Bad news for Seattle (29:06)
• Brokers start your engines (34:16)
• Denver trading alert (35:36)
• Statefarm portfolio (37:50)
• Sublease space in Columb...2023-01-2047 min
The TreppWire Podcast: A Commercial Real Estate Show176. New Year, Same Market Concerns; CMBS Delinquencies Rise, Office & Retail Layoffs, ClosuresRecent reports show that more than two-thirds of economists at 23 large financial institutions are predicting a U.S. recession. In this week's episode of The TreppWire Podcast, we examine the negativity that has made its way to 2023, reviewing Fed minutes, more Tech firm issues, and our own CMBS delinquency rate rising in December 2022.
It’s not all bad news. Among news about firms downsizing, store closures, and layoffs, we find some positive stories for the retail and office sectors. Tune in now.
Episode Notes:
Economic Update: Fed minutes, recession, Tech Wreck (0:23)
Downsizing at tech firms (4:55)
Twitter cost cutting (8:28)
Vote of con...2023-01-0651 min
The TreppWire Podcast: A Commercial Real Estate Show173. All Eyes on Office, Fed Dot Plot, Violent Market ReactionThis week, the big investor reaction was to the Fed’s so-called “dot plot” that sees a higher Fed Funds target range. In this episode of The TreppWire Podcast, we dive into the welcomed CPI print, the Fed decision, retail sales, housing, and what it all means for CRE.
We also have a lot to discuss in the office market, with a focus on loan refinancings, tenant moves, space consolidations, and more. Tune in now.
Episode Notes:
• Economic data: CPI, Fed decision(0:23)
• Labor, jobs, housing (4:33)
• Good week for borrowers(6:55)
• Joann Fabrics hold on dividend payments(10:12)
• Office conversion story (12:54)
• Positive office news (14:35)
• Off...2022-12-1636 min
The TreppWire Podcast: A Commercial Real Estate Show166. Will Floating-Rate Loans Sink Upon Maturity?, Delinquencies Rise, No Leaks in the Boat... YetThis week, investors expected the interest rate increase, but the commentary was more hawkish than predicted. In this episode of The TreppWire Podcast, we dive into the latest economic and CMBS data, highlighting the recent rise in delinquencies. In digging through the data, we found that there is about $300M worth of active "floating-rate" loans, so what is the story here? Then, we share green shoots and crabgrass for multifamily, office, and hotels. Tune in now.
Episode Notes:
- Economic update (0:23)
- CMBS delinquency report (10:10)
- CMBS spreads (16:55)
- Digging through the data (21:32)
- Multifamily sale (28:03)
- Multifamily headlines (33:43)
- S...2022-11-0450 min
The TreppWire Podcast: A Commercial Real Estate Show153. Time to Play Offense or Defense? CRE & Lending Update with Rachael Brown, The Bank of TampaIn a special guest episode of The TreppWire Podcast, we welcome Rachael Brown, Senior VP of Commercial Real Estate at The Bank of Tampa to discuss the current real estate lending market. We dive into the state of the Tampa Bay area, new developments to watch, the impact of economic conditions on CRE, and market sentiment amid volatility. Listen now.
Episode Notes:
• Background (0:23)
• Tampa’s compelling nature (2:05)
• Multifamily cap rates (9:25)
• Projects and developments underway in Tampa (15:49)
• Change in tone of the market; is it time to play offense or defense? (18:45)
• Did liquidity tighten this summer? (20:26)
• Impact of Fed decisions on FL economy (22:2...2022-08-1431 min
The TreppWire Podcast: A Commercial Real Estate Show147. Should We Panic Yet?: CRE Hits a Wall, Crabby Crabgrass, Earnings DisappointAfter a rough week, The TreppWire Podcast team tries to separate the real collateral damage from the noise. In this episode, we see deals drying up and crabgrass everywhere. We start by diving into the latest market sentiment, touch on bank earnings and what our team projected ahead of the reports, and then examine the news to watch across the property types. Listen here.
Episode Notes:
- Has the economic tide turned?(0:23)
- Market sentiment (8:07)
- Bank earnings projections (25:53)
- Layoffs and restructuring (28:00)
- Crabby crabgrass for office (31:28)
- Office green shoots (38:07)
- Durst fills vacancies (40:43)
- Starbucks closing due...2022-07-1553 min
The TreppWire Podcast: A Commercial Real Estate Show137. A Shifting CRE Landscape & Investment Insights with Carly Tripp, Global CIO, Nuveen Real EstateIn a special guest episode of The TreppWire Podcast, we welcome Carly Tripp, Global Chief Investment Officer and Head of Real Estate Investments at Nuveen Real Estate. Carly speaks with the team about the shifting commercial real estate landscape, diving into the impact of the current macroeconomic climate and how the pandemic changed the market. We also discuss the heavily-debated office sector, retail resiliency, and surprises in CRE.
Episode Notes:
Carly Tripp background/overview (0:54)
Interest rates and inflation, impact on CRE (3:51)
Are parts of CRE more resilient to passing costs? (7:08)
Rental housing (10:16)
The velocity of CRE & investment (12:06)
CRE fundamentals: the...2022-05-1231 min
The TreppWire Podcast: A Commercial Real Estate Show136. How Recent Tech Earnings Indicate a Market Top for CRE; Delinquency, Amazon, and The FedIn this week’s episode of The TreppWire Podcast, the team discusses recent tech earnings, inflation, big-box retail, and office news. Next, we dive into the delinquency rate, interest-only bonds, and hotel transactions. Then we talk about big tech giant Amazon and the Metaverse. Stick around to hear a sneak peek as we shed light on the multifamily market.
Episode Notes:
Market Overview (0:40)
Inflation- The Fed (4:28)
Big Tech- Amazon/Meta (10:05)
Metaverse (18:33)
CMBS Delinquency Rate (20:11)
Interest Only Bonds (24:25)
Office News (29:03)
Retail Stories (38:40)
Hotel Transactions (46:30)
Multifamily Market Sneak Peak (49:38)
Shoutouts (49:47)
Questions or comments? Contact us at podcast@trepp.com.
Follow Trepp:
• Twitter: www...2022-05-0655 min
The TreppWire Podcast: A Commercial Real Estate Show135. Tech Earnings Impact on CRE, Multifamily Financials, Offices DownsizingThere was a mixed bag of tech earnings this week, so we dive into some of the headlines and the impact on commercial real estate. In this episode of The TreppWire Podcast, we also cover recent stories about offices downsizing and record property transactions. We then follow up on our recent multifamily net operating income teaser, sharing the headlines that came from preliminary income, revenue, and expense data.
Episode Notes:
Investor reaction to stock selloff (0:23)
Tech earnings, impact on CRE (9:02)
Office crabgrass (18:51)
Green shoots for office (23:35)
Blackstone headlines (29:09)
Multifamily NOI report(33:27)
Multifamily story – record price (41:13)
Retail hits: Kohl's bids (42:27)
Shoutouts (48:32)
Qu...2022-04-2854 min
The TreppWire Podcast: A Commercial Real Estate Show125. Special Episode: How the War in Ukraine Could Impact Europe, A CRE & Structured Finance UpdateIn a special European edition of The TreppWire Podcast, Andrew Jacobs, Head of Structured Finance speaks to Vivek-Anand Dattani, Global Head of Structured Sales, and Andrew McClymont, Structured Finance Analyst, about the state of the European markets. We dive into what is happening amid the war in Eastern Europe and examine the data and headlines in the CRE, CMBS, and CLO markets at the end of 2021 and into the start of 2022. Stay tuned for our week-in-review later this week.
Episode Notes:
- Crisis in Ukraine: What is happening in Eastern Europe? (0:49)
- Impact on CRE, CMBS, and CLO markets (4:09)
...2022-02-2525 min
The TreppWire Podcast: A Commercial Real Estate Show119. Market Volatility & CRE, Mall Loan Defeasances, Hotel DistressThe markets have been on a wild ride as investors digested news this week, but how does the volatility impact CRE? In this week’s episode of The TreppWire Podcast, we dive into what matters for CRE and CMBS participants. Then, we discuss several big stories: large retail loan defeasances which represent a positive sign for CMBS investors, new hotel issuance, and our distressed hotel analysis. We close by sharing our predictions ahead of the NFL playoffs.
Episode Notes:
How does market volatility impact CRE? (0:53)
CMBS market performance (8:34)
Takeaways for non-CMBS investors (16:36)
Mall loan defeasances – positive signs for retail (18:13)
Hotel dist...2022-01-2840 min
The TreppWire Podcast: A Commercial Real Estate Show110. Black Friday Bonanza, Retail Worries; What's Weighing on the Markets?As Thanksgiving, Black Friday, and the holiday season approach The TreppWire Podcast team thought it was time to dive into the retail market. In this week’s episode, we analyze what is weighing on the economic markets right now, then we turn to our “Black Friday” special where we review retail earnings, worries, and CMBS Trading Alerts. We highlight a few other interesting stories for multifamily and hotels and close by sharing what we are thankful for this season compared to last season (episode 48 for reference). Happy Thanksgiving!
Episode Notes:
Economic Update (0:20)
What is weighing the markets down right now?(0:55)
Retail...2021-11-2343 min
The TreppWire Podcast: A Commercial Real Estate Show109. Retail Renaissance or False Start? “Next Big Short” CMBX 6 Update, Office Green ShootsFor every negative headline this week there seemed to be a positive. In this week’s episode of The TreppWire Podcast, we dive into the green shoots and crabgrass focusing on trends in retail earnings, an update on the retail-heavy CMBX indices, and positive signs for the office market. We also review the increased demand in the single-family rental market.
Episode Notes:
• Economic news (0:20)
• Mall revival and retail earnings (0:55)
• Retail-heavy CMBX 6 and 7 update (10:33)
• Green shoots in retail headlines (15:39)
• CVS closures (18:38)
• Office crabgrass (21:17)
• Greenshoots (29:17)
• Must-Know of the Week (31:46)
• Single-family rental demand growth (33:15)
• Shoutouts (35:04)
Questions or comments? Contact us at podcast@trepp.com.
Follow Trepp:
Twi...2021-11-1939 min
The TreppWire Podcast: A Commercial Real Estate Show101. Misallocation of Funds, Evergrande & the Economy, Office Headwinds, Rental Rates 101In this week’s episode of The TreppWire Podcast, we discuss the Evergrande news, comparing what we are seeing now to the Great Financial Crisis. We dive into a headline story that our own TreppWire team uncovered involving a misallocation of $12 million to CMBS bondholders. Professor Lonnie Hendry joins to give his office market predictions and share a rental rates 101 segment. Finally, what happens in Vegas doesn’t stay in Vegas, tune in to hear Manus’ takeaways from a recent trip.
Episode Notes:
• Evergrande and economic update (0:47)
• Comparison to the GFC and Lehman (7:26)
• Misallocation of funds / CMBS 101 (13:05)
• Office green shoots (22:36)
• Professor Hendry...2021-09-2447 min
The TreppWire Podcast: A Commercial Real Estate Show100. CRE’s Wild Ride, Business Travel Blues, Office Return Rollbacks, and Retail Must-KnowsThe 100th episode of The TreppWire Podcast is here! Thank you to our listeners who have been along for the journey. In the milestone episode, we review stats that have taken CRE on a wild ride: COVID cases, travel numbers, unemployment, occupancy levels, and loan delinquencies. Then, we dive into this week’s news about business travel, real estate regulations, retail must-knows, and the return to the office. Stay tuned to see how you can win a pair of “iEars.”
Episode Notes:
100th episode (0:21)
CRE’s wild ride throughout the pandemic: the numbers (4:52)
This week’s news (10:00)
Hotels, business travel (15:18)
Return to...2021-09-1639 min
The TreppWire Podcast: A Commercial Real Estate Show99. The Return to Office Change-up: Is a Sell-off in Our Future?The latest job claims update, higher than expected wage growth, and economic slowdown this summer due to the delta variant have us weighing the possibility of a future sell-off. In this week’s episode of The TreppWire Podcast, we dive into the latest change-up in return to office plans and what this means for the office market in various cities, we talk through Labor Day travel numbers and signs of a comeback for the hotel sector, and provide an update on recent retail gains. Stay tuned for our 100th episode next week!
Episode Notes:
Job Claims Update & Higher than Expected Wa...2021-09-0945 min
The TreppWire Podcast: A Commercial Real Estate Show98. Taking a Stab: Making Sense of Mixed Economic & CRE NewsMixed economic and commercial real estate headlines have us in a circle as we weigh the points and counterpoints of different stories impacting the markets. In this week’s episode of The TreppWire Podcast, we dive into the large decline in the CMBS delinquency rate, share several office and lodging stories, analyze hotel occupancy, review “better-than-ever” demand for several retailers that reported earnings, and give an update on the latest Eviction Moratorium news.
Episode Notes:
Economic update (0:20)
CMBS delinquencies decline (6:48)
Return to office and vaccine mandates (12:13)
Positive and negative office stories (15:10)
Lodging occupancy and travel news (24:35)
Retail stories to watch (31:57)
Manhat...2021-09-0154 min
The TreppWire Podcast: A Commercial Real Estate Show93. Vaccine Mandates, Metro Rankings, Earnings MessagesIn this week’s episode of The TreppWire Podcast, we cover trends from the latest COVID-19 vaccine mandates and behind the tech giants’ and REIT earnings reports. We also dive into some key stories including how certain retail closures can impact a mall, more office lease and tenant moves, and the rise in hotel occupancy. Finally, we cover the latest news on the Eviction Moratorium and give a sneak peek at our secondary MSA rankings and delinquency report.
Episode Notes:
Vaccine mandates, tech earnings, economic update (1:01)
Boston Properties’ earnings (10:33)
Movie theater and student housing REIT earnings (14:51)
Preliminary delinquency rates (18:12)
Tesla showro...2021-07-3053 min
The TreppWire Podcast: A Commercial Real Estate Show72. Distressed Logjam Loosens, Hotel Deals in the Market, One Year of PodcastsIn the CRE space, investors have been waiting for distressed asset sales and it seems that hotel opportunities are now on the rise. In this week’s episode, we discuss these hotel sales, the flux in the state of the office market, and analyze the latest multifamily occupancy news. The team reminisces on one year of The TreppWire Podcast. Thanks to all of our listeners for the continued support!
Episode Notes:
• Fed Chair Powell’s thoughts on CRE (4:15)
• Hotel space opportunities (7:19)
• Office in a state of flux (18:12)
• NYC multifamily market (29:04)
• Retail: malls remain the biggest area of concern (32:10)
• Percentage rent leases (40:10)
•...2021-03-2549 min