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].
Homepage Google Podcasts Overcast Castro Pocket Casts RSS feed
Episodes
CECL 101, Recent CRE Valuations, The Declining CMBS Delinquency Rate
October 02, 2020 00:00 - 1 hour - 85.1 MBCertain provisions of the CARES Act provided community banks a delay in the implementation of CECL (current expected credit losses). In this week's episode, we take a deep dive into the world of CECL, the declining CMBS delinquency rate, recent CRE valuations, and CMBS issuance and pricing. We also discuss some creative solutions for celebrating Halloween this year. Episode Notes: Positive news amidst uncertainty (1:01) The declining CMBS delinquency rate (10:19) Recent CMBS issuance and pri...
36. CECL 101, Recent CRE Valuations, The Declining CMBS Delinquency Rate
October 01, 2020 00:00 - 1 hour - 85.1 MBCertain provisions of the CARES Act provided community banks a delay in the implementation of CECL (current expected credit losses). In this week's episode, we take a deep dive into the world of CECL, the declining CMBS delinquency rate, recent CRE valuations, and CMBS issuance and pricing. We also discuss some creative solutions for celebrating Halloween this year. Episode Notes: Positive news amidst uncertainty (1:01) The declining CMBS delinquency rate (10:19) Recent CMBS issuance and pri...
Performance of CRE Bank Loans vs CMBS Loans, A Look at Occupancy Rates, The Regulatory Roundup
September 25, 2020 00:00 - 1 hour - 85 MBSince the beginning of the pandemic, reported occupancy rates have remained healthy in the office and multifamily property sectors. However, there are two types of occupancy to consider: physical and economic. In this week's episode, we welcome Lonnie Hendry, Head of Advisory Services at Trepp, to break down occupancy rate calculations, the latest regulatory issues, the performance of CRE loans in bank portfolios vs CMBS, and growth in the single family rental market. Episode Notes: The reg...
35. Performance of CRE Bank Loans vs CMBS Loans, A Look at Occupancy Rates, The Regulatory Roundup
September 24, 2020 00:00 - 1 hour - 85 MBSince the beginning of the pandemic, reported occupancy rates have remained healthy in the office and multifamily property sectors. However, there are two types of occupancy to consider: physical and economic. In this week's episode, we welcome Lonnie Hendry, Head of Advisory Services at Trepp, to break down occupancy rate calculations, the latest regulatory issues, the performance of CRE loans in bank portfolios vs CMBS, and growth in the single family rental market. Episode Notes: The reg...
Takeaways from the Mid-Month CMBS Delinquency Report, A Mixed Bag of Office News, Loan Deferrals 101
September 18, 2020 00:00 - 51 minutes - 70.9 MBIn the office market, we’re seeing the fits and starts of a physical return to work play out this week. In this episode, we discuss the mixed bag of office news, takeaways from the mid-month CMBS delinquency report, the first case we’ve seen of a loan deferral with no advancing, and what the holiday season might look like in retail this year. Episode Notes: A relief bill for CRE is looking very unlikely (1:10) Mid-month CMBS delinquency numbers (6:05) Amazon entering the luxury space (15:07)...
34. Takeaways from Mid-Month CMBS Delinquency Report, A Mixed Bag of Office News, Loan Deferrals 101
September 17, 2020 00:00 - 51 minutes - 70.9 MBIn the office market, we’re seeing the fits and starts of a physical return to work play out this week. In this episode, we discuss the mixed bag of office news, takeaways from the mid-month CMBS delinquency report, the first case we’ve seen of a loan deferral with no advancing, and what the holiday season might look like in retail this year. Episode Notes: A relief bill for CRE is looking very unlikely (1:10) Mid-month CMBS delinquency numbers (6:05) Amazon entering the luxury space (15:07)...
Predictions for the Future of CRE Finance, Problems in Multifamily, a Wave of Retail News
September 11, 2020 00:00 - 58 minutes - 79.5 MBOver the last six months, we’ve covered the movements of the CRE finance sector. Looking forward, what changes could we see in the market as a result of the pandemic and the flash recession? In this week's episode, we discuss potential changes in CRE finance, problems in the multifamily sector, the wave of retail news, student housing loans, and strategic defaults in bank loan portfolios. Continuing with our music theme from last week, Manus is feeling nostalgic for the days live Allman Broth...
33. Predictions for the Future of CRE Finance, Problems in Multifamily, a Wave of Retail News
September 10, 2020 00:00 - 58 minutes - 79.5 MBOver the last six months, we’ve covered the movements of the CRE finance sector. Looking forward, what changes could we see in the market as a result of the pandemic and the flash recession? In this week's episode, we discuss potential changes in CRE finance, problems in the multifamily sector, the wave of retail news, student housing loans, and strategic defaults in bank loan portfolios. Continuing with our music theme from last week, Manus is feeling nostalgic for the days live Allman Broth...
Hotel Valuations, Increasing Focus on the Office Sector, Treasury Yield 101
September 03, 2020 00:00 - 59 minutes - 81.2 MBWe discuss the CDC’s new eviction moratorium, the Financial Times story covering stress in the CRE market through the lens of a CMBS investor, the increasing focus on the office sector, and hotel valuations in this environment. The 10-year Treasury yield dipped this week after its eight-week high, which spurred Manus’ thoughts for a deep dive. In honor of Labor Day Weekend, the team provides its list of road trip songs befitting of the year 2020. Episode Notes: The CDC’s eviction moratorium ...
32. Hotel Valuations, Increasing Focus on the Office Sector, Treasury Yield 101
September 02, 2020 00:00 - 59 minutes - 81.2 MBWe discuss the CDC’s new eviction moratorium, the Financial Times story covering stress in the CRE market through the lens of a CMBS investor, the increasing focus on the office sector, and hotel valuations in this environment. The 10-year Treasury yield dipped this week after its eight-week high, which spurred Manus’ thoughts for a deep dive. In honor of Labor Day Weekend, the team provides its list of road trip songs befitting of the year 2020. Episode Notes: The CDC’s eviction moratorium ...
CMBS Delinquency Rate Sees Another Big Decline, Underwritten vs Actual NOIs, Top Secondary MSAs
August 28, 2020 00:00 - 56 minutes - 77.4 MBIn a normal summer, August results in lighter volume (and more volatility). Of course, this has been a summer like none other. In this week's episode, we break down the macro trends, the most recent CMBS delinquency data, potential forbearances, retail as “the falling knife,” and the top secondary MSAs for CRE investment. Inspired by Bruce Springsteen, Manus explains the similarities between Texaco road maps and the early CMBS mega deals. Episode Notes: Not your typical August (1:11) Takeawa...
31. CMBS Delinquency Rate Sees Another Big Decline, Underwritten vs Actual NOIs, Top Secondary MSAs
August 27, 2020 00:00 - 56 minutes - 77.4 MBIn a normal summer, August results in lighter volume (and more volatility). Of course, this has been a summer like none other. In this week's episode, we break down the macro trends, the most recent CMBS delinquency data, potential forbearances, retail as “the falling knife,” and the top secondary MSAs for CRE investment. Inspired by Bruce Springsteen, Manus explains the similarities between Texaco road maps and the early CMBS mega deals. Episode Notes: Not your typical August (1:11) Takeawa...
A Data-Driven Approach to Assessing Property Values with Fritz Kaegi, Cook County Assessor
August 27, 2020 00:00 - 37 minutes - 50.9 MBWe welcome Fritz Kaegi, Cook County Assessor and former portfolio manager, to discuss CRE property valuations in Chicago, reforming the tax assessment process, the impact of COVID-19 on assessments, and his experience transitioning from the private sector to public office. Episode Notes: Assessing CRE property values in Chicago (5:03) Reforming the assessment process(8:58) The biggest challenge during Fritz’ first year in office (11:01) Generating transparent property valuations (16:45) The...
30. A Data-Driven Approach to Assessing Property Values with Fritz Kaegi, Cook County Assessor
August 26, 2020 00:00 - 37 minutes - 50.9 MBWe welcome Fritz Kaegi, Cook County Assessor and former portfolio manager, to discuss CRE property valuations in Chicago, reforming the tax assessment process, the impact of COVID-19 on assessments, and his experience transitioning from the private sector to public office. Episode Notes: Assessing CRE property values in Chicago (5:03) Reforming the assessment process(8:58) The biggest challenge during Fritz’ first year in office (11:01) Generating transparent property valuations (16:45) The...
Fresh CRE Delinquency Data, CMBS Loan Modifications 101, the Flurry of Hotel and Retail News
August 21, 2020 00:00 - 57 minutes - 78.4 MBWe examine August CMBS remittance data and what the early delinquency numbers are telling us about the state of the recovery. We dig into big box retail earnings, the flurry of hotel headlines this week, and underwritten NOIs. Professor Manus Clancy also takes us to school for a lesson on CMBS loan modifications. Episode Notes: Big box retail earnings (0:58) Early indications from August CMBS remittance data (8:03) Hotel (and AirBnB) headlines (17:08) Intriguing stories in the office sector ...
29. Fresh CRE Delinquency Data, CMBS Loan Modifications 101, the Flurry of Hotel and Retail News
August 20, 2020 00:00 - 57 minutes - 78.4 MBWe examine August CMBS remittance data and what the early delinquency numbers are telling us about the state of the recovery. We dig into big box retail earnings, the flurry of hotel headlines this week, and underwritten NOIs. Professor Manus Clancy also takes us to school for a lesson on CMBS loan modifications. Episode Notes: Big box retail earnings (0:58) Early indications from August CMBS remittance data (8:03) Hotel (and AirBnB) headlines (17:08) Intriguing stories in the office sector ...
The Economic Impact of COVID-19 on CRE with Ryan Severino, Chief Economist at JLL
August 19, 2020 00:00 - 47 minutes - 65.5 MBWe welcome Ryan Severino, Chief Economist at JLL, to discuss government stimulus, potential demographic and systemic changes, “pre-existing conditions” in CRE, the Presidential election’s impact on the markets, and the future of higher education. Episode Notes: Too much or too little government stimulus? (3:11) The election’s potential impact on the markets (11:16) Relief for the hotel industry? (14:49) Creative disruption (18:33) Potential demographic and systemic changes (23:09) “Pre-exist...
28. The Economic Impact of COVID-19 on CRE with Ryan Severino, Chief Economist at JLL
August 18, 2020 00:00 - 47 minutes - 65.5 MBWe welcome Ryan Severino, Chief Economist at JLL, to discuss government stimulus, potential demographic and systemic changes, “pre-existing conditions” in CRE, the Presidential election’s impact on the markets, and the future of higher education. Episode Notes: Too much or too little government stimulus? (3:11) The election’s potential impact on the markets (11:16) Relief for the hotel industry? (14:49) Creative disruption (18:33) Potential demographic and systemic changes (23:09) “Pre-exist...
Analyzing Underwritten NOIs, Updates on the Lodging and Retail Sectors, Appraisal Reductions
August 14, 2020 00:00 - 53 minutes - 73.4 MBFive months into the pandemic, the lodging and retail sectors have been battered. In this week's episode of The TreppWire Podcast, we break down recent news and performance in those sectors. We also discuss underwritten NOIs, appraisal reductions, the CRE “Deal of the Week,” our new Tom Petty “I Won’t Back Down” index, and whether or not we’ll be going to the movie theater anytime soon. Episode Notes: Unemployment and a second stimulus (0:53) Is the glass half empty or half full for the econ...
27. Analyzing Underwritten NOIs, Updates on the Lodging and Retail Sectors, Appraisal Reductions
August 13, 2020 00:00 - 53 minutes - 73.4 MBFive months into the pandemic, the lodging and retail sectors have been battered. In this week's episode of The TreppWire Podcast, we break down recent news and performance in those sectors. We also discuss underwritten NOIs, appraisal reductions, the CRE “Deal of the Week,” our new Tom Petty “I Won’t Back Down” index, and whether or not we’ll be going to the movie theater anytime soon. Episode Notes: Unemployment and a second stimulus (0:53) Is the glass half empty or half full for the econ...
The Big Takeaways from REIT Earnings Season
August 07, 2020 00:00 - 1 hour - 82.3 MBWe welcome Orest Mandzy, Managing Editor of CRE Direct News, to share the big takeaways from REIT earnings season. With Orest’s REIT expertise, we dig into performance by sector - hotel, retail, multifamily and office. We also discuss the growing forbearance tally, noteworthy stories in the corporate CLO market, and our “Deal of the Week.” Episode Notes: Observations from Philly (1:12) The next round of stimulus relief (5:47) Clobbered hotel REITs (12:20) Are retail REITs doing any better? ...
26. The Big Takeaways from REIT Earnings Season
August 06, 2020 00:00 - 1 hour - 82.3 MBWe welcome Orest Mandzy, Managing Editor of CRE Direct News, to share the big takeaways from REIT earnings season. With Orest’s REIT expertise, we dig into performance by sector - hotel, retail, multifamily and office. We also discuss the growing forbearance tally, noteworthy stories in the corporate CLO market, and our “Deal of the Week.” Episode Notes: Observations from Philly (1:12) The next round of stimulus relief (5:47) Clobbered hotel REITs (12:20) Are retail REITs doing any better? ...
Deep Dive into the HOPE Act & 1031 Exchange, Shadow Vacancy Rates, Big Drop in CMBS Delinquencies
July 31, 2020 00:00 - 54 minutes - 74.6 MBWe welcome Lonnie Hendry, Head of Advisory Services at Trepp, for a deep dive into the HOPE Act and the potential impacts of eliminating the 1031 Exchange. We also analyze the big drop in the CMBS delinquency rate and shadow vacancy rates in the office market. In our new “Deals of the Week” segment, we highlight notable CRE transactions across the country. Episode Notes: Observations from Texas (1:16) The big drop in CMBS delinquency rates (3:00) What’s happening with JC Penney? (13:22) Deal...
25. Deep Dive into HOPE Act & 1031 Exchange, Shadow Vacancy Rates, Big Drop in CMBS Delinquencies
July 30, 2020 00:00 - 54 minutes - 74.6 MBWe welcome Lonnie Hendry, Head of Advisory Services at Trepp, for a deep dive into the HOPE Act and the potential impacts of eliminating the 1031 Exchange. We also analyze the big drop in the CMBS delinquency rate and shadow vacancy rates in the office market. In our new “Deals of the Week” segment, we highlight notable CRE transactions across the country. Episode Notes: Observations from Texas (1:16) The big drop in CMBS delinquency rates (3:00) What’s happening with JC Penney? (13:22) Deal...
The State of the Distressed CRE Debt Market with Donald Sheets from Broadshore Capital Partners
July 29, 2020 00:00 - 45 minutes - 62.8 MBWe welcome Donald Sheets, Managing Director at Broadshore Capital Partners to break down the current state of the CRE debt market. In a wide-ranging conversation, we discuss the disconnect between Main Street and Wall Street, underwriting office loans in this climate, evaluating investment opportunities, the CRE “lending pie,” and the current landscape of student housing. Don also shares his takeaways from a cross-country road trip adventure during the pandemic. Episode Notes: The disconnec...
24. The State of the Distressed CRE Debt Market with Donald Sheets from Broadshore Capital Partners
July 28, 2020 00:00 - 45 minutes - 62.8 MBWe welcome Donald Sheets, Managing Director at Broadshore Capital Partners to break down the current state of the CRE debt market. In a wide-ranging conversation, we discuss the disconnect between Main Street and Wall Street, underwriting office loans in this climate, evaluating investment opportunities, the CRE “lending pie,” and the current landscape of student housing. Don also shares his takeaways from a cross-country road trip adventure during the pandemic. Episode Notes: The disconnec...
Signs of Progress and Peril in the US and European CRE and CLO Markets
July 24, 2020 00:00 - 59 minutes - 81 MBWe welcome Vivek-Anand Dattani, VP of Commercial Operations from Trepp’s London office, to examine signs of progress and peril in the US and European CRE and CLO markets. We also discuss the preliminary July CMBS delinquency data, revisit the retail-heavy CMBX 6 index, and look at the lasting impacts of The Dodd-Frank Act. Last but certainly not least, Joe McBride delivers a special ode to Winston Churchill. Episode Notes: Signs of progress and peril in U.S. CRE (3:35) What we’re seeing in ...
23. Signs of Progress and Peril in the US and European CRE and CLO Markets
July 23, 2020 00:00 - 59 minutes - 81 MBWe welcome Vivek-Anand Dattani, VP of Commercial Operations from Trepp’s London office, to examine signs of progress and peril in the US and European CRE and CLO markets. We also discuss the preliminary July CMBS delinquency data, revisit the retail-heavy CMBX 6 index, and look at the lasting impacts of The Dodd-Frank Act. Last but certainly not least, Joe McBride delivers a special ode to Winston Churchill. Episode Notes: Signs of progress and peril in U.S. CRE (3:35) What we’re seeing in ...
Improving CMBS Delinquency Rates, Noteworthy CRE Stories, Shifting Trends in Office
July 17, 2020 00:00 - 37 minutes - 51.9 MBWe’re only mid-way into July, but early indications are that delinquency rates are improving. In this week’s episode of The TreppWire Podcast, we examine the factors behind a potentially declining CMBS delinquency rate, noteworthy CRE headlines of the week, the CMBX 10 index, shifts in the office market, and takeaways from bank earnings. Episode Notes: Signs of a tepid recovery (1:10) Improving CMBS delinquency rates? (6:11) Noteworthy CRE loan headlines this week (13:04) Digging into CMB...
22. Improving CMBS Delinquency Rates, Noteworthy CRE Stories, Shifting Trends in Office
July 16, 2020 00:00 - 37 minutes - 51.9 MBWe’re only mid-way into July, but early indications are that delinquency rates are improving. In this week’s episode of The TreppWire Podcast, we examine the factors behind a potentially declining CMBS delinquency rate, noteworthy CRE headlines of the week, the CMBX 10 index, shifts in the office market, and takeaways from bank earnings. Episode Notes: Signs of a tepid recovery (1:10) Improving CMBS delinquency rates? (6:11) Noteworthy CRE loan headlines this week (13:04) Digging into CMB...
Legal and Regulatory Challenges in CRE with Rick Jones, Finance & Real Estate Partner at Dechert LLP
July 15, 2020 00:00 - 29 minutes - 39.9 MBWe welcome Rick Jones, Partner and Co-Chair of Dechert’s finance and real estate practice. Under his leadership, the 150 attorney practice focuses on sophisticated capital markets and mortgage finance transactions, providing lenders with innovative deal structuring, creative financing strategies and efficient execution. In this episode, we discuss structural changes that may come out of this crisis, a federal bailout for CRE, the potential impacts of the upcoming U.S. presidential election, a...
21. Legal & Regulatory Challenges in CRE with Rick Jones, Finance & Real Estate Partner, Dechert LLP
July 14, 2020 00:00 - 29 minutes - 39.9 MBWe welcome Rick Jones, Partner and Co-Chair of Dechert’s finance and real estate practice. Under his leadership, the 150 attorney practice focuses on sophisticated capital markets and mortgage finance transactions, providing lenders with innovative deal structuring, creative financing strategies and efficient execution. In this episode, we discuss structural changes that may come out of this crisis, a federal bailout for CRE, the potential impacts of the upcoming U.S. presidential election, a...
The Impacts of COVID-19 at the Mid-Year: Fleeting Eclipse or A New Dark Age?
July 10, 2020 00:00 - 42 minutes - 57.8 MBWe are officially past the half year mark, which means the release of our bi-annual report in collaboration with CRE Direct. In this week’s episode of The TreppWire Podcast, we discuss our Mid-Year report and the magnitude of the pandemic’s effects across the hardest hit sectors. We also analyze the recent push for CMBS relief, CRE loan default and loss projections, the European CLO and CMBS markets, and Manus Clancy’s revised bucket list. Episode Notes: Is this week’s glass half empty or h...
20. The Impacts of COVID-19 at the Mid-Year: Fleeting Eclipse or A New Dark Age?
July 09, 2020 00:00 - 42 minutes - 57.8 MBWe are officially past the half year mark, which means the release of our bi-annual report in collaboration with CRE Direct. In this week’s episode of The TreppWire Podcast, we discuss our Mid-Year report and the magnitude of the pandemic’s effects across the hardest hit sectors. We also analyze the recent push for CMBS relief, CRE loan default and loss projections, the European CLO and CMBS markets, and Manus Clancy’s revised bucket list. Episode Notes: Is this week’s glass half empty or h...
CMBS Delinquency Rate Nears All-Time High, Hotel Debt Relief, Takeaways from Bank Stress Tests
July 02, 2020 00:00 - 47 minutes - 64.8 MBAt one point during the month of June, it appeared that a new all-time high for CMBS delinquencies would be reached. The final numbers posted at the end of the reporting cycle, however, showed that the 2012 high still remains the peak (for the time being). In this week’s episode, we dig into this month’s delinquency report, potential relief options for hotel owners, takeaways from the Fed’s bank stress tests, green shoots for corporate CLO investors, and the Nathan’s Hot Dog Eating Contest. ...
19. CMBS Delinquency Rate Nears All-Time High, Hotel Debt Relief, Takeaways from Bank Stress Tests
July 01, 2020 00:00 - 47 minutes - 64.8 MBAt one point during the month of June, it appeared that a new all-time high for CMBS delinquencies would be reached. The final numbers posted at the end of the reporting cycle, however, showed that the 2012 high still remains the peak (for the time being). In this week’s episode, we dig into this month’s delinquency report, potential relief options for hotel owners, takeaways from the Fed’s bank stress tests, green shoots for corporate CLO investors, and the Nathan’s Hot Dog Eating Contest. ...
Surprises in MSA Delinquency Rates, Congressional Request for CMBS Borrower Relief, “Problem Banks”
June 26, 2020 00:00 - 45 minutes - 62.2 MBThe economic recovery: A glass half full or half empty? We examine the congressional request for CMBS borrower relief, delinquency rates by MSA, retail stories that caught our eye, the future of affordable housing, the increase in “problem banks,” and the importance of CLOs to the broader market. Episode Notes: Is the glass half empty or half full for the economic recovery? (1:03) The congressional request for CMBS borrower relief (6:42) Surprises in delinquency rates by MSA (13:33) Retail ...
18. Surprises in MSA Delinquencies, Congressional Request for CMBS Borrower Relief, “Problem Banks”
June 25, 2020 00:00 - 45 minutes - 62.2 MBThe economic recovery: A glass half full or half empty? We examine the congressional request for CMBS borrower relief, delinquency rates by MSA, retail stories that caught our eye, the future of affordable housing, the increase in “problem banks,” and the importance of CLOs to the broader market. Episode Notes: Is the glass half empty or half full for the economic recovery? (1:03) The congressional request for CMBS borrower relief (6:42) Surprises in delinquency rates by MSA (13:33) Retail ...
The Future of CRE with Brian Stoffers, Global President at CBRE and MBA Chairman
June 24, 2020 00:00 - 42 minutes - 57.6 MBWe welcome Brian Stoffers, Global President of Debt and Structured Finance at CBRE and 2020 Chairman of the Mortgage Bankers Association (MBA). In a wide-ranging conversation, Mr. Stoffers discusses trends he’s seeing in the CRE lending space, property type performance, the impact of “forbearageddon,” and how the COVID-19 crisis will change commercial real estate in the long-term. Episode Notes: Outlook for the recovery (1:45) Any notable valuation trends since the onset of COVID? (3:59) W...
17. The Future of CRE with Brian Stoffers, Global President at CBRE and MBA Chairman
June 23, 2020 00:00 - 42 minutes - 57.6 MBWe welcome Brian Stoffers, Global President of Debt and Structured Finance at CBRE and 2020 Chairman of the Mortgage Bankers Association (MBA). In a wide-ranging conversation, Mr. Stoffers discusses trends he’s seeing in the CRE lending space, property type performance, the impact of “forbearageddon,” and how the COVID-19 crisis will change commercial real estate in the long-term. Episode Notes: Outlook for the recovery (1:45) Any notable valuation trends since the onset of COVID? (3:59) W...
Signs of Stress in the Corporate CLO Market, Record-Breaking CMBS Delinquencies, Exodus from Cities
June 19, 2020 00:00 - 47 minutes - 65 MBWe welcome Andrew Jacobs, Head of Structured Finance at Trepp, to examine signs of stress in the corporate CLO market. We also discuss the potential record-breaking CMBS delinquency rates, the appraisal reduction process, this week’s major headlines in lodging and retail, and the migration from big cities. We also make weekend plans for a trip to the drive-in movies. Episode Notes: Record breaking CMBS delinquency rates? (4:04) Spotlight on the CMBX 13 index (9:15) This week’s lodging and ...
16. Signs of Stress in Corporate CLO Market, Record-Breaking CMBS Delinquencies, Exodus from Cities
June 18, 2020 00:00 - 47 minutes - 65 MBWe welcome Andrew Jacobs, Head of Structured Finance at Trepp, to examine signs of stress in the corporate CLO market. We also discuss the potential record-breaking CMBS delinquency rates, the appraisal reduction process, this week’s major headlines in lodging and retail, and the migration from big cities. We also make weekend plans for a trip to the drive-in movies. Episode Notes: Record breaking CMBS delinquency rates? (4:04) Spotlight on the CMBX 13 index (9:15) This week’s lodging and ...
What CMBS Borrowers Need to Know in COVID Times
June 17, 2020 00:00 - 41 minutes - 56.6 MBIn this special episode, we welcome Tammy and David Goldfisher from The Henley Group, borrower advocates and experts in CMBS loan restructuring. With loan forbearance being top of mind for many in commercial real estate, Tammy and David share their insights into the borrower and special servicer negotiation process and discuss what they are seeing on the ground. Episode Notes: What type of forbearance agreements are happening right now? (5:19) What makes a borrower negotiation successful? (...
15. What CMBS Borrowers Need to Know in COVID Times
June 16, 2020 00:00 - 41 minutes - 56.6 MBIn this special episode, we welcome Tammy and David Goldfisher from The Henley Group, borrower advocates and experts in CMBS loan restructuring. With loan forbearance being top of mind for many in commercial real estate, Tammy and David share their insights into the borrower and special servicer negotiation process and discuss what they are seeing on the ground. Episode Notes: What type of forbearance agreements are happening right now? (5:19) What makes a borrower negotiation successful? (...
More Bad Retail News, A Look at the CMBX 7 Index, Credit Supply Risk in Corporate CLOs
June 12, 2020 00:00 - 35 minutes - 48 MBThe wave of bad news in the retail market, what we expect to see in June CMBS remittance data, the CMBX 7 index, credit supply risk in the corporate CLO market and most importantly, our Father’s Day wish lists. Come for the market commentary, stay for the stories of playing Little League Baseball with Kevin James of “The King of Queens.” Episode Notes: Macro market news and our thoughts on the recovery (1:10) More bad retail news (7:13) What to expect in June CMBS delinquency data (12:...
14. More Bad Retail News, A Look at the CMBX 7 Index, Credit Supply Risk in Corporate CLOs
June 11, 2020 00:00 - 35 minutes - 48 MBThe wave of bad news in the retail market, what we expect to see in June CMBS remittance data, the CMBX 7 index, credit supply risk in the corporate CLO market and most importantly, our Father’s Day wish lists. Come for the market commentary, stay for the stories of playing Little League Baseball with Kevin James of “The King of Queens.” Episode Notes: Macro market news and our thoughts on the recovery (1:10) More bad retail news (7:13) What to expect in June CMBS delinquency data (12:...
The Big Short of CMBX 6 with Dan McNamara and Catie McKee from MP Securitized Credit Partners
June 09, 2020 00:00 - 31 minutes - 43.2 MBIn this special episode, we welcome Principal Dan McNamara and Managing Director Catie McKee (aka the “Queen of Malls”) from MP Securitized Credit Partners. In what was dubbed “the next big short” by some, investors bought credit-default swaps against subordinate bonds in the CMBX 6 index, which has heavy concentrations of shopping mall and retail loans. Catie and Dan are well known for their bet against CMBX 6 and discuss the strategy and execution behind shorting U.S. malls. Episode Notes:...
13. The Big Short of CMBX 6 with Dan McNamara and Catie McKee from MP Securitized Credit Partners
June 08, 2020 00:00 - 31 minutes - 43.2 MBIn this special episode, we welcome Principal Dan McNamara and Managing Director Catie McKee (aka the “Queen of Malls”) from MP Securitized Credit Partners. In what was dubbed “the next big short” by some, investors bought credit-default swaps against subordinate bonds in the CMBX 6 index, which has heavy concentrations of shopping mall and retail loans. Catie and Dan are well known for their bet against CMBX 6 and discuss the strategy and execution behind shorting U.S. malls. Episode Notes:...
The Massive Spike in CMBS Delinquencies, Loan Forbearance Expectations, Office Exposure in CMBX 12
June 06, 2020 00:00 - 37 minutes - 51.6 MBWe break down the massive spike in CMBS delinquencies (the largest month-over-month increase we’ve seen since 2009), the financial performance of malls, loan forbearance expectations, office exposure in the CMBX 12 index, office loan refinance risk, an important court decision for the syndicated loan market, and what our summer vacations might look like. Episode Notes: Where are we in the economic recovery? (00:59) The largest jump in CMBS delinquencies since 2009 (7:45) Analyzing the financ...
12. Massive Spike in CMBS Delinquencies, Loan Forbearance Expectations, Office Exposure in CMBX 12
June 05, 2020 00:00 - 37 minutes - 51.6 MBWe break down the massive spike in CMBS delinquencies (the largest month-over-month increase we’ve seen since 2009), the financial performance of malls, loan forbearance expectations, office exposure in the CMBX 12 index, office loan refinance risk, an important court decision for the syndicated loan market, and what our summer vacations might look like. Episode Notes: Where are we in the economic recovery? (00:59) The largest jump in CMBS delinquencies since 2009 (7:45) Analyzing the financ...