The TreppWire Podcast: A Commercial Real Estate Show
322 episodes - English - Latest episode: 3 days ago -Leveraging Trepp’s market expertise and proprietary data sets, The TreppWire Podcast enables listeners to stay up-to-date on all things commercial real estate, structured finance and banking.
Featuring Trepp subject matter experts and guests from across the industry, the weekly podcast explores how recent events have impacted both the markets and the daily lives of market participants.
Questions or comments? Please contact us at [email protected].
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Episodes
204. No Holiday Lull for CRE: Comps Galore, Big Office News, H1 CMBS Recap
July 06, 2023 00:00 - 44 minutes - 56.8 MBAlthough 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.’ Tun...
203. Comps Comps Comps, Sales Comps Dominate News; Delinquencies Rise
June 29, 2023 00:00 - 53 minutes - 67.5 MBThere was plenty of positive economic data to digest this week, all while Fed Chair Powell was “taking the punch bowl away,” commenting that more rate hikes may be necessary. In this week’s episode, we break it down. And in CRE, there were several large (and unpleasant) comps for investors to digest. We also analyze Trepp’s latest delinquency report; examine defeasance, yield maintenance, and discounted prepayments; and talk about a large industrial story. Tune in now. Episode Notes: • Econo...
202. Did Fed Pause Stall the Market? New Issue Pricing & Property Sector Rapid-Fire Rundown
June 22, 2023 00:00 - 46 minutes - 59.8 MBIn this episode, we discuss what we saw in the markets, starting with stocks hitting a wall after Fed Chair Powell indicated that more interest rate hikes were necessary. In CMBS, we dive into new issue pricing that provides market clarity. We also have a lot of CRE news to cover; a large apartment loan going to special servicing, office valuation reductions, some signs of life for the NYC office market, and several stories in industrial and life sciences. Episode Notes: • Economic updates (...
201. Optimism Hard to Find at CRE Event; Industrial Hitting a Wall?; Retail Owner Throws in Towel
June 16, 2023 00:00 - 47 minutes - 61 MBThis week, all eyes were on the inflation numbers, the Fed’s interest rate decision, and retail sales. In this episode, we dive into the macro news and discuss whether we think this is it for the CPI and Fed Funds Rate or if we’ll continue talking about it in the second half of the year. In CRE, we share takeaways from the annual CREFC conference in terms of issuance, price discovery, and predictions for the market. We also dive into an industrial demand story, analyze multifamily data, and...
200. Cutting Through the Haze; Looming Hotel Default Renews Lodging Concerns; More Office Subleases
June 10, 2023 00:00 - 51 minutes - 65.8 MBIn 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...
199. Office Delinquencies Hit 5-Year High; Issuance Defies Debt Ceiling Drama; State of CRE Market
June 02, 2023 01:12 - 45 minutes - 57.6 MBThis episode is sponsored by BetterPitch: https://www.betterpitch.com/. In this week’s episode, we break down the shift in economic news that will be bringing us back to our regularly scheduled programming of interest rate decisions, inflation, and job numbers. In commercial real estate, we had a big week for data – we saw the issuance of a CMBS deal, which is defying the debt ceiling drama and we also saw CMBS delinquency readings that investors have been anticipating for months. In office, ...
198. Charting CRE Distress from Peak to (Silicon) Valley: TreppWire Recorded LIVE at NAIOP
May 26, 2023 00:00 - 54 minutes - 77.3 MBIn 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...
197. Debt Ceiling Deal Debate; CRE Poker Face: Hold ‘Em or Fold ‘Em; Office Special Servicing Moves
May 19, 2023 00:00 - 43 minutes - 55.1 MBWith slowing regional bank turmoil, all eyes shifted to the debt ceiling deal debate. In this week’s episode, we examine the latest economic news. Mike Flood of the Mortgage Bankers Association shares his perspective on the debt ceiling and bank regulation. In CRE, we saw several office loans transfer to special servicing, sublease stories, and comps. We also share retail green shoots and crabgrass, a hotel comeback story, and discuss our bank CRE concentration analysis. And in an ode to Sam ...
196. Storm Brewing… CRE Issues May be Least of Concerns; Retail Extensions; Rental Rates 101
May 12, 2023 00:00 - 45 minutes - 58.3 MBWith 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 ...
195. Jittery Markets, More Bank Fallout, Office Comps
May 05, 2023 00:00 - 45 minutes - 57.6 MBThe 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 ...
194. Retail Apocalypse No More… Shifting Market Dynamics: TreppWire Recorded LIVE at ICSC
April 24, 2023 00:00 - 44 minutes - 58.1 MBIn 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 reta...
193. Investors Exhale After Bank Earnings, but Hold their Breath Watching Office News
April 22, 2023 00:00 - 35 minutes - 48.2 MBThis week, we have the Managing Editor of Commercial Real Estate Direct, Orest Mandzy, joining to give us additional perspective within CRE. We start with a market update, taking note of the data showing a softening economy. Then we take a look at housing starts and homebuilder sentiment, which remains negative. The team takes a deep dive into office news and then discusses some of the recent bank earnings. Tune in now.
193. Investors Exhale After Bank Earnings, but Hold Breath Watching Office News...
April 20, 2023 00:00 - 35 minutes - 48.2 MBThis week, we have the Managing Editor of Commercial Real Estate Direct, Orest Mandzy, joining to give us additional perspective within CRE. In this episode, we start with a market update, taking note of the data showing a softening economy. Then we take a look at housing starts and homebuilder sentiment, which remains negative. In CRE, the team reviews our latest Quarterly Data Review, examining the data and trends that shaped the market in Q1. We also take a deep dive into office news and...
192. Good Good Good Vibrations… Even in Office
April 13, 2023 00:00 - 42 minutes - 58.2 MBIn 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 (0:2...
192. Good Vibrations in a Shaky Market? Some Even in Office
April 11, 2023 00:00 - 42 minutes - 58.2 MBIn 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 (0:2...
191. Tightening Credit Conditions, The Frustration Index, “Non-Issuance”
April 06, 2023 00:00 - 43 minutes - 55.7 MBWith the urgency of the bank concerns calmed for now, the spotlight this week turned to jobs and economic data. In this episode, we examine the signs of weakening across the markets ahead of a big jobs week. We also review indications of potential consumer health pressure and/or receding inflation from early retail earnings. In CRE, we discuss tightening lending conditions, CMBS issuance dropping to levels not seen since 2012, delinquencies across the US, and big headlines to watch. Tune i...
190. It's Happening: Office Delinquencies Tick Up Again, Calls for Bank Regulation, and Wrap on Q1
April 01, 2023 00:00 - 46 minutes - 63.8 MBThis week, the White House called for stricter rules for mid-sized banks as lawmakers sifted through what happened with the recent bank failures and what needs to be done in response. In this episode, we dive into some more details of the SVB bank run, then we debate what makes an asset qualify as "toxic." The team discusses the CMBS Delinquency Rate dip in March, while the office rate continues to climb. Lastly, we discuss the retail, multifamily, and hotel sectors. Tune in now. Episode Note...
189. Impending Credit Crisis? Perspective from a Private Lender, Warren de Haan, ACORE Capital
March 29, 2023 19:03 - 35 minutes - 45.4 MBIn a special guest episode, Warren de Haan, managing director, co-founder, and co-CEO of ACORE Capital joins the team to provide market perspective from a private CRE lender. Here, we examine the impending credit crisis by talking through the current lending environment. Warren shares a boots-on-the-ground view of private lending, market constraints, and assets that are facing pressure or have opportunities. Episode Notes: - Intro (0:20) - Setting the stage: take on current environment (1:0...
188. Volatility Up, Liquidity Down for Banks & CRE; Office Turmoil; Restructuring Program Needs?
March 25, 2023 00:00 - 46 minutes - 59.6 MBThis week, the Fed raised interest rates amid concerns over bank liquidity. In this episode, we dive into what the Fed decision means for bank securities holdings, explain the FHA/deposit insurance model, and ask the question, “can the Fed fight both inflation and contagion?” In other news, there were large layoffs this week and a lot of negative news for office. Lastly, the team debates the proposal for bank regulators to reestablish CRE troubled debt restructuring programs. (And finally, ha...
187. Holding Pattern for CMBS Lenders; Cash is King for Banks; Liquidity, Anyone?
March 17, 2023 00:00 - 52 minutes - 66.7 MBThis week, Trepp’s Managing Director, Matt Anderson joins the team to break down the banking market turbulence after the failure of Silicon Valley Bank and the takeover of Signature Bank by regulators. In this episode, we examine how and why this happened and what came next for other banks and their stocks. We discuss the liquidity position of banks and the current holding pattern for CMBS lenders as lending and issuance dry up. In CRE news, we dive into several office stories that represent ...
186. CMBS Spread Widening: Buying Opportunity or Trouble Coming?; Flurry of Office News
March 10, 2023 00:00 - 40 minutes - 51.7 MBIn this week's episode, we dive into the market reaction that followed Fed Chair Powell’s comments, the high stakes that surround the latest jobs data, and a proposed budget. We talk about soaring CMBS spreads and if the widening represents a buying opportunity or a sign of trouble coming for the industry. Then in CRE, we have a flurry of office crabgrass (and a few green shoots) to share. Stick around to hear our take on water cooler data and betting on WWE... Tune in now. Episode Notes: M...
185. Making Sense of $30 Trillion in Bills, A Debt Ceiling Clock, & QT with Danielle DiMartino Booth
March 08, 2023 00:00 - 40 minutes - 52.1 MBWe 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 commerci...
184. Good News is Hard to Find: Delinquency Jumps, Sublease Siege, Massive Trading Alert
March 03, 2023 03:59 - 47 minutes - 61.1 MBIn this week’s episode of The TreppWire Podcast, it is hard to find good news. Amid treasury yield increases, economic data, consumer confidence, and retail earnings, there are negative signs all around. In commercial real estate, we report on the CMBS delinquency rate posting its second-largest increase since the start of the pandemic, discuss office obsolescence, and dive into a massive trading alert surrounding a large multifamily loan. We also examine data for hotel markets across the US,...
183. Mixed Economic & Earnings Messages, Signs of Stagflation – What Does it Mean for CRE?
February 24, 2023 00:00 - 43 minutes - 55.1 MBIn this week's episode, there is a lot of news to digest. To start, we review economic results, Fed minutes, geopolitical tension, and company earnings that are revealing mixed messages and signs of stagflation and examine what the impact will be on CRE. In property-type news, we dive into several stories to watch for office and retail and share news for hotels. Tune in now. Episode Notes: • Geopolitical tension, Fed minutes, economic results, earnings (0:23) • Tech company news: Intel & Nvi...
182. Expiring Leases and Office Maturities, Multifamily Loan Moves, Healthy Travel Earnings
February 17, 2023 00:00 - 46 minutes - 59.3 MBIn this week's episode, we cover the latest jobs and housing data, travel earnings, and share takeaways from the MBA CREF conference. We also talk about Brookfield’s defaults and office crabgrass, then share some large multifamily loan moves. In case you missed it, Trepp and CompStak released a report examining office loan maturities and lease expirations. Trepp’s Director of Research, Stephen Buschbom, and, CompStak's Director of Real Estate Intelligence, Alie Baumann, talk through some of ...
181. Hotels Roaring Back, Industrial Weakening, Tech Impact to Office
February 10, 2023 00:00 - 48 minutes - 62.8 MBIn 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...
180. Seismic Shift in Office? Podcast Trading Alert, Multifamily Markets to Watch, Grocery Retail
February 02, 2023 00:00 - 51 minutes - 72.7 MBIn this week's episode, we present an inaugural Trading Alert recorded live on the podcast, where we dive into the news of a large real estate player handing back the keys to their office holdings and decide if it will cause a seismic shift in the CRE sector. We talk multifamily markets to watch, delinquency rates revealing it’s not all doom and gloom, and many corporate announcements and earnings. Stay tuned for green shoots and crabgrass in office and a discussion about grocery-anchored r...
179. Bumpy Year Ahead, Loan Spreads in Volatile Times, Renters’ Bill of Rights & Multifamily Impact
January 27, 2023 00:00 - 51 minutes - 73.7 MBIn this week's episode, we are reviewing what looks like a bumpy year ahead for the economic markets. We talk about the prospect of national rent control, which has sent worries through the multifamily market, company earnings, housing news, and more tech layoffs (+ some company expansions). In the CMBS market, we review historical loan spreads, which can provide a useful metric during volatile times, and talk about a conduit deal that priced this week. Stick around for office stories to wat...
178. CRE Transactions Drop, Big City Office Blues Hit Seattle, Japanese Bond Market
January 20, 2023 00:00 - 47 minutes - 68.2 MBIn 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 lay...
177. ‘Game of Chicken’ for Players in CRE Finance, CREFC Sentiment; Office Sublease Special
January 13, 2023 00:00 - 53 minutes - 76.3 MBFor the last few days, the podcast team was at CREFC Miami, where the sentiment surrounded “cautious optimism” (or was it “cautious pessimism?”) and the 'game of chicken' that is taking place for buyers/sellers and borrowers/lenders. In this week's episode, Orest Mandzy of CRE Direct joins the team to share our takeaways from the CRE finance industry conference, dive into what’s to come for multifamily and affordability, examine where CMBS issuance and loan payoffs stand, and share crabgrass ...
176. New Year, Same Market Concerns; CMBS Delinquencies Rise, Office & Retail Layoffs, Closures
January 06, 2023 00:00 - 51 minutes - 72.4 MBRecent 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. Tun...
175. A Look Back & Ahead: 2022 CRE Market Surprises, What’s to Come in 2023
December 30, 2022 00:00 - 48 minutes - 57.8 MBIn the final episode of 2022, the team pauses to review the year, reflecting on pleasant and unpleasant surprises and the CRE stories that topped the headlines. In this week's episode, we share a look back at 2022 and also look ahead to 2023, sharing some of our commercial real estate and economic market predictions for next year based on what we've learned from the stories. Stick around to learn what a TWPT is. Wishing a happy new year to all our listeners! Tune in now. Episode Notes: Econ...
174. Weak Retail Sales & More Office CMBS Turmoil, Soft Housing Market, Holiday Wishlist
December 23, 2022 00:00 - 44 minutes - 63.9 MBIn this week's episode, we discuss weak holiday sales, retail earnings, and the soft housing market. In CRE, there is a lot to cover in the office and retail sectors, with positive, negative, and neutral stories that paint a picture of what is to come in 2023. The team also shares their holiday wish lists. Happy holidays to all our listeners! Episode Notes: • Economic data: consumer sentiment, recession, earnings (0:23) • Housing market headwinds(6:25) • Commercial mortgage universe increase...
173. All Eyes on Office, Fed Dot Plot, Violent Market Reaction
December 16, 2022 00:00 - 36 minutes - 51.3 MBThis 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 ...
172. Gloomy CRE Mood: Is Office the New Mall? Industrial Cracks, But Plenty of Hotel Green Shoots
December 09, 2022 00:00 - 42 minutes - 58.1 MBIn this week’s episode, we analyze what appears to be a commercial real estate market turning negative. Rob Jordan, Head of CMBS, joins the team as we discuss market sentiment, borrower concerns, and predictions for the economy and Q4 bank earnings. In property-type news, we saw a lot of negative news for the office market – opening the door to the question: are offices the new malls? We also see cracks in the industrial market, but the positive signs in recent hotel stories help reel in th...
171. Loan Modifications, the Trepp Unicorn Story, Multifamily Delinquencies
December 02, 2022 00:00 - 47 minutes - 64.4 MBIn this week’s episode, we dive into some major stories touching the CRE and CMBS markets including office crabgrass, interesting loan modifications, hotel loan extensions, retail challenges, and industrial news. In a new segment, we introduce the Trepp unicorn, diving into a story about rare excess recovery. We also share our latest delinquency data and life insurance commercial mortgage returns. Tune in now. Episode Notes: • Market update: Fed, jobs, supply chain, housing (0:23) • Delinque...
Special Interview: Prepping for the Dana Point Corporate CLO Summit with Lauren Bautista, Opal Group
November 30, 2022 00:00 - 33 minutes - 45.4 MBIn a special interview, we prep for the upcoming CLO Summit Annual Conference with the help of Lauren Bautista, Managing Director at Opal Group. The team dives into the state of the corporate CLO and leveraged loan market showcasing what a tumultuous market has done to CLOs, conference attendance, and new discussions and entrants into the space. We also provide a market update on CLO issuance, refinancing, and spreads. Tune in now. Episode Notes: • Background on Opal events: attendance/pan...
170. Extensions, Missed Payments, Dropping Values: Smorgasbord of CRE News
November 22, 2022 00:00 - 50 minutes - 68.9 MBThis week, earnings season wound down with more retailers showing better-than-expected results and a shortened trading week due to the holiday meaning more focus on what the Fed is signaling for December. In this episode of The TreppWire Podcast, we dive into several big stories across the major property types: borrowers extending, missing balloon payments, and property valuations declining. Tune in now. Episode Notes: • Economic data (0:23) • Consumer resilience? (6:53) • Retailer earnings ...
169. Finding Green Shoots (As People Seek Taylor Swift Tix); Floating Rate CRE CLOs; Retail Earnings
November 17, 2022 00:00 - 46 minutes - 64.1 MBThis week, it was easier to find green shoots than Taylor Swift tickets, but CRE still can’t “shake off” higher rates. In this week’s episode, Andrew Jacobs, Head of Structured Finance, joins the team as we discuss retail earnings, the CRE CLO market, housing data, loan payoffs, and the impact on leveraged loans in a higher-rate environment. We also dive into a few major office, retail, and hotel stories to note this week. Tune in now. Episode Notes: • Economic data (0:26) • Corporate CLO ma...
168. Making Sense of Midterms and the CRE Regulatory Landscape with the Mortgage Bankers Association
November 16, 2022 00:00 - 35 minutes - 48.5 MBIn a special guest episode, Michael Flood, SVP of Commercial & Multifamily, and Borden Hoskins, AVP of Legislative & Political Affairs from the Mortgage Bankers Association (MBA) join the team to provide an update on the midterm elections and the CRE regulatory landscape. We dive into what the election results mean for CRE, how various sectors will be affected, and what regulators will focus their initiatives on in 2023. Tune in now. Episode Notes: • Midterm elections and legislative overvi...
167. Tech Wreck & Housing Cracks, REIT Earnings Rundown, Student Housing Distress
November 11, 2022 00:00 - 50 minutes - 69 MBIn this week’s episode, we dive into the latest news surrounding the CPI print, cracks in the housing market, and the ‘Tech Wreck’ that is dragging the markets down. In CRE, Research Director, Stephen Buschbom joins to talk through REIT earnings and student housing loan distress. We also provide recent negative multifamily and office stories. Tune in now. Episode Notes: • Economic news(0:26) • CPI numbers (11:02) • Impact of election on CRE (15:08) • Tech wreck (16:32) • REIT earnings: overv...
166. Will Floating-Rate Loans Sink Upon Maturity?, Delinquencies Rise, No Leaks in the Boat... Yet
November 04, 2022 00:00 - 50 minutes - 68.8 MBThis 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 ...
165. Tech Turmoil Weighs on Markets; Will Falling CRE Prices Lead to Fed Pivot?
October 28, 2022 00:00 - 50 minutes - 69.1 MBIn this week's episode, we review mixed economic data, with a focus on the latest news for the technology sector and how it will impact CRE. We discuss reasons for optimism and pessimism, discuss CMBS spreads, a cap rate analysis, and hairline fractures for the multifamily market. We also share some office headlines and give an overview of NYC's Local Law 97. Tune in now. Episode Notes: • Economic update (0:23) • Interest rates inflection point (8:20) • Digging into tech earnings (10:32) • ...
164. Wading Through Some CRE Distress with Tony Yousif, SVN
October 25, 2022 00:00 - 40 minutes - 55.5 MBIn a special guest episode, we welcome Tony Yousif, Director of National Accounts at SVN. We dive into the latest in commercial real estate distress, with Tony sharing a boots-on-the-ground view of asset classes to watch, trends by geography, and the difference among types of lenders. Tony shares where the opportunities are and where some may get stuck in the mud. Tune in now. Episode Notes: - Background (0:21) - Property type coverage (5:26) - Geographical trends (7:11) - What’s happening...
Episode 163. Subleases & Givebacks Galore; $300 Billion of Upcoming Maturities; Where’s the Stress?
October 21, 2022 00:00 - 44 minutes - 60.3 MBThis week, we saw the 10-year yield hit its highest level since 2008. In this episode, we examine what was a rough week in terms of economic data but not for the markets, also highlighting sirens in housing, and the latest themes from bank earnings. In CRE, we go through a list of office sublease stories and we review the amount of loans maturing within the next 24 months. Tune in now. Episode Notes: Bad economic data, markets powered through (0:23) Digging through the data: more maturitie...
163. Subleases & Givebacks Galore; $300 Billion of Upcoming Maturities; Where’s the Stress?
October 20, 2022 00:00 - 44 minutes - 60.3 MBThis week, we saw the 10-year yield hit its highest level since 2008. In this episode, we examine what was a rough week in terms of economic data but not for the markets, also highlighting sirens in housing, and the latest themes from bank earnings. In CRE, we go through a list of office sublease stories and we review the amount of loans maturing within the next 24 months. Tune in now. Episode Notes: Bad economic data, markets powered through (0:23) Digging through the data: more maturitie...
162. Rising Rates, Cost of Interest Rate Caps Threaten to Derail CRE; Top 5 Multifamily Markets
October 14, 2022 00:00 - 41 minutes - 56.2 MBIn this week’s episode, we examine how rising rates and the cost of interest rate caps are threatening to derail the commercial real estate market. Then, we dig through operational and origination statistics for multifamily across the top five markets and compare the data to the office sector statistics. We close by reviewing the latest office and retail headlines to watch. Episode Notes: Gloomy economic outlook(0:23) Perception of CPI (6:20) Labor problem (10:49) Mortgage rates (12:26) 10...
161. Digging Through the Data: Multifamily Cracks, CMBS Metrics, Bank Earnings Predictions
October 06, 2022 00:00 - 49 minutes - 68.2 MBIn this week’s episode, we search for signs to see if the economy is responding to the Fed’s medicine. In a segment called ‘Digging Through the Data,’ we examine underlying distress for multifamily, retail and lodging. We also provide an update on the CMBS market, reviewing delinquency rates and slowed issuance. Then, we share predictions for Q3 bank earnings. Episode Notes: • Economic news (0:23) • Multifamily distress (7:45) • CMBS delinquency report (13:13) • CMBS issuance (17:40) • Dig...
160. Searching for Light in a Stormy Market, CRE Distress, Hurricane Exposure
September 30, 2022 00:00 - 44 minutes - 61.1 MBThis week, markets are in turmoil, the dollar is surging, and a currency crisis triggered a surprise move by the Bank of England. With all of that, we also can’t ignore the impact of Hurricane Ian. In this episode, we dive into the headlines, with a theme that when trust starts to evaporate, so does liquidity. We also review data surrounding true signs of CRE distress, map the exposure of $52 billion of CRE loans to the hurricane, and talk news for office, retail, and multifamily properties. ...
159. CEO Warnings, Surging Interest & Cap Rates, Dot Plot Danger: Where Are Green Shoots?
September 23, 2022 00:00 - 48 minutes - 66.8 MBWhile the latest interest rate hike was no surprise, markets reacted this week. In this week’s episode, we dive into the economic news to know: housing, rates, and big company news. In CRE, we preview an analysis of multifamily cap rates, dive into life insurance commercial mortgage returns and share the latest hotel, retail, and office stories. Episode Notes: Economic news (0:23) Hotels (18:09) Positive office developments (22:49) Office crabgrass (27:42) Brokers start your engines (37:41)...