Claim OwnershipThe TreppWire Podcast: A Commercial Real Estate Show
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© The TreppWire Podcast, A CRE Show
Description
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 podcast@trepp.com.
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 podcast@trepp.com.
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In this week’s episode of The TreppWire Podcast, we unpack the ripple effects of the government shutdown and discuss how the Beige Book has gained importance amid the economic data drought. We highlight Trepp’s projection of over $123 billion in private-label CMBS issuance for 2025 and preview our September CMBS Special Servicing report, where the rate climbed to 10.65%—the highest since May 2013. We break down Q3 earnings from major banks and do a “Digging Through the Data” segment on the top CRE lenders of 2025. We also explore national security concerns tied to concentrated data center cluster and examine Walmart’s integration with ChatGPT, a move that could reshape how consumers interact with AI. In our CRE roundup, we spotlight NYC’s leasing boom - now at a 19-year high - and discuss SL Green’s acquisition of Park Avenue Tower. Tune in now. Episode notes: Economic Update: Government Shutdown & Beige Book (0:42)CMBS Issuance: Trepp Projecting $123B (15:13)Most Active CRE Lenders of 2025 (17:44)September Special Servicing Report (21:15)Data Center Clusters & Security (22:55)Walmart ChatGPT Integration (28:47)CBRE NYC Leasing Report (38:08)SL Green Purchasing Park Avenue Tower (40:49)Programming Notes (42:58)Shoutouts (44:25) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
In this week’s episode of The TreppWire Podcast, we break down the U.S. government still being shut down and what it means for economic data releases being paused the longer it drags on. We unpack the September Fed meeting minutes, which revealed a split among policymakers following last month’s 25-basis-point rate cut. We dive into Q3 CMBS issuance trends and explore how the current pace could make 2025 the most active year for issuance since 2007, when $230.5 billion was issued. In banking news, we spotlight Fifth Third’s acquisition of Comerica, a deal that would create the ninth-largest U.S. bank and potentially reshape the regional lending landscape. In the commercial property segment, we highlight RXR’s $1.45 billion Midtown recapitalization, a major office-to-residential conversion near Penn Station, Crescent Real Estate’s purchase of a Dallas office building, and more. Tune in now.Episode notes: • Economic Update: Government Still Shutdown (1:37)• Implications for CRE (10:28)• FOMC Meeting Minutes & Economic Data (12:56)• Q3 CMBS Issuance & Projections (16:49)• Fifth Third to buy Comerica (24:01)• RXR $1.4B Midtown Recapitalization (31:36)• Office-to-Resi Conversion Near Penn Station (36:50)• Crescent Real Estate Buys Dallas' 2000 McKinney Office (39:26)• Programming Notes (41:53)• Shoutouts (43:21)Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
In this week’s episode of The TreppWire Podcast, we analyze what recent developments mean for commercial real estate (CRE), starting with the U.S. government shutdown. We explore its potential economic impact, how long it could last, and what historical shutdowns suggest for CRE. We continue the ongoing conversation about AI, including Accenture layoffs, and Citi’s employee training. Next, we break down our latest CMBS Delinquency Report, which saw the September 2025 overall rate decreasing for the first time since February, and preview Trepp’s Anonymized Loan Level Repository (T-ALLR) Q2 2025 report, sharing signs from bank data. We also cover a trading alert on an outlet loan transferred to special servicing, IKEA’s expansion into Manhattan, continued happenings at Westfield San Francisco Centre, BlackRock’s lease expansion at its Hudson Yards headquarters, and more. Tune in now.Episode notes: • Economic Update: U.S. Government Shutdown (1:33)• AI Discussion: Accenture Layoffs, Citi Training (11:27)• Trepp September CMBS Delinquency Report (22:14)• T-ALLR Q2 2025 Report Preview (25:28)• Outlet Loan Heads to Special Servicing (29:42)• Retail: IKEA’s expansion in Manhattan (34:36)• Westfield San Francisco Center (37:05)• Labubu Times Square Store (39:49)• BlackRock Hudson Yards HQ Expansion (43:53)• Programming Notes (45:06)• Shoutouts (46:56)Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
Is office a good investment alternative? In this week’s episode of The TreppWire Podcast, we break it down, spotlighting growing demand for high-end CBD space even amid ongoing distress. We dive into Compass’ $1.6 billion acquisition of Anywhere and its potential impact on the broader residential brokerage landscape, along with August’s new home sales data. Responding to a listener question, we explain the concept of “recapture,” exploring how depreciation factors into decisions to hand back the keys. Plus, we share fresh September data-filled office trading alerts, opportunities in student housing, and the acquisition of Toll Brothers’ apartment platform. Tune in now.Episode notes: Economic Update: Office Opportunities (0:28)Compass Acquisition of Anywhere (8:40)New Home Sales Surged 20.5% (15:57)Listener Question: Recapture Deep Dive & One Big Beautiful Bill (21:13)Latest Office Trading Alerts (28:16)Augusta, GA Mall Loan Sent to Special Servicing (36:36)Kennedy Wilson Acquiring Toll Brothers Apartment Platform (38:19)Programming Notes: Upcoming Trepp Webinars (46:02)Shoutouts (49:44)Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.x.com/TreppWire
In this special episode of The TreppWire Podcast, we’re joined by John Barkidjija, Executive Vice President and Head of Commercial Real Estate (CRE) and Specialty Finance at Byline Bank. Better known to our listeners as Dr. Debt Yield, John shares why the debt yield metric remains a cornerstone in CRE and reflects on the moment it became his preferred tool for analyzing real estate. He offers valuable lessons from navigating market downturns from the Great Financial Crisis (GFC) and explains how his legal background fuels a creative approach to problem-solving. The discussion covers key macroeconomic forces driving market uncertainty, from interest rate volatility and tariff impacts to the growing influence of AI. We also explore delinquency resolutions, recent shifts in bank regulatory reporting, and John’s outlook on potential interest rate cuts. Tune in now.Episode Notes• Background & Start in CRE (1:50)• Importance of the Debt Yield Metric (6:50)• Macro Factors Impacting CRE Uncertainty (11:10)• The Role of AI & Office Implications (14:17)• Lessons from Down Cycles (18:10)• Good & Bad Resolutions in Delinquencies (24:47)• Bank Regulation Reporting Change (35:37)• Fed Interest Rate Decision Prediction (38:33)• Shoutouts (41:54)Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWireLinkedIn: www.linkedin.com/company/trepp
In this week’s episode of The TreppWire Podcast, we analyze the Federal Reserve's recent rate cut and the impact on the commercial real estate (CRE) capital markets. We revisit the movement of the Secured Overnight Financing Rate (SOFR) and credit spreads leading up to the decision. We also unpack the stronger-than-expected retail sales data for August, debate whether economists are overestimating the impact of tariffs on spending, and touch on the current economic stability amid market risks. Turning to CRE stories of the week, we talk about Rithm Capital’s plans to acquire Paramount Group for $1.6 billion, Brookfield’s completed turn around of 660 Fifth Avenue, as well as SL Green and PGIM's $1.4 billion refinancing deal for 11 Madison Avenue. The episode ends with two recent trading alerts and key takeaways from Trepp’s August CMBS Special Servicing Report. Tune in now.Episode notes: Economic Update: Fed Cut Rates (0:28)What is Causing Elevated SOFR Rates? (9:46)CRE Loan Spreads Performance for the Week Ending Sept. 12 (13:40) Strong Retail Sales Growth & Economic Stability (15:40)Rithm Capital Plans to Acquire Paramount Group (27:45)Brookfield Turned 660 Fifth Avenue Around with a $1.7 Billion Investment (32:14)SL Green and PGIM's $1.4 Billion Refi for 11 Madison Avenue (35:52)Trading Alert: Huge Manhattan Office Loan Sent to Special Servicing (38:59)Trading Alert: Florida Mall Value Slashed Below Loan Balance (42:01)Programming Notes (43:34)Shoutouts (45:38)Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
In this week’s episode of The TreppWire Podcast, we unpack major labor market revisions, revealing that job growth was overstated by 911,000 jobs over the past year. We analyze recent data that strengthens the case for a 25-basis-point rate cut at the upcoming Fed meeting. We also dive into Treasury Secretary Scott Bessent’s op-ed, which critiques the Federal Reserve’s post-2008 monetary policy shift. In commercial real estate, we analyze a NAIOP report pointing to cooling demand in the industrial sector and share Trepp’s data on industrial delinquency. We discuss the latest return-to-office developments, with Paramount joining the list of companies enforcing mandates. Turning to office-to-resi conversion trends, we spotlight Washington, D.C., where new tax incentives aim to accelerate transformation. We close the episodes with two notable retail credit stories. Tune in now.Episode notes:• Economic Update: 911,000 Fewer Jobs (1:42)• Treasury Secretary Scott Bessent Op Ed (11:29)• Industrial Space Demand Falls (24:02)• Starwood $930M CMBS Loan (32:37)• Return to Office Mandates (34:59)• Washington D.C. Tax Abatements for Office-to-Resi Projects (40:45)• Retail Credit Stories (43:41)• Programming Notes (46:02)• Shoutouts (46:55)Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
In this special episode of The TreppWire Podcast, we’re joined again by Shlomo Chopp, Managing Partner of Case Equity Partners, to discuss commercial mortgage-backed security (CMBS) loan workouts and distressed property situations. Shlomo offers a deep dive into his firm’s strategic approach to navigating complex loan restructurings and asset management. He breaks down the dynamics between small and large borrowers, outlines why CMBS loans often present more flexible workout options than traditional bank financing, and stresses the value of early engagement and negotiation. We also explore current market trends in distressed deals and the challenges in today’s appraisal process. Tune in now.Episode Notes• Background & Start in Real Estate (2:01)• CMBS Loan Workouts (10:41)• Loan Negotiation Strategies for Borrowers (15:47)• Strategic Solutions for Asset Management (22:39)• Distressed Deals & Market Trends (30:32)• Challenges in the Current Appraisal Process (37:28) Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWireLinkedIn: www.linkedin.com/company/trepp
In this week’s episode of The TreppWire Podcast, we assess the current state of the market, explore the commercial real estate (CRE) yield curve, and check in on residential mortgage rate trends. We unpack recent changes to bank reporting rules that could make it easier for banks to hide troubled loans and conceal signs of distress in their lending portfolios. Turning to property stories of the week, we discuss the 1211 Avenue of the Americas loan, which may be returning to performing status despite contributing to the spike in August's CMBS delinquency rate. We also talk about office bright spots, with Manhattan’s strong office leasing recovery and the surge in AI-driven demand in San Francisco, and review three multifamily sales transactions. To close, we share insights from the LifeComps Report Q2 2025 and examine trends in life insurance commercial mortgage returns. Tune in now. Episode notes:Economic Update & Rate Cuts (0:27)Mortgage Rates Impact (8:03)Office Loan Returning to Performing (12:44)Manhattan Office Leasing Recovery (15:41)AI-driven Demand in San Francisco (18:57)Bank Report Transparency (24:57)Multifamily Sales Transactions (32:11)Life Insurance Commercial Mortgage Returns (36:32) Programming Notes (41:38)Shoutouts (42:55)Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
In this week's episode of The TreppWire Podcast, we discuss retail earnings revealing a bifurcated consumer with value players like Five Below and Walmart raising guidance while restaurants struggle, and examine resilient GDP growth despite declining consumer confidence. We dive into our latest CMBS delinquency data, showing office hitting another all-time high of 11.66% and multifamily reaching a 9-year peak. We explore Starwood's $500 million industrial deal and discuss office sector momentum, including Prologis' Manhattan expansion and a unique office-to-hotel conversion proposal. We also examine multifamily transactions like Invesco's $390 million Houston portfolio financing, and apartment sales across Florida, California, and Kansas. Tune in now.Episode notes:Economic Update: Retail Earnings Analysis (1:26)Consumer Confidence Index vs. Negative Headlines (4:51)Trepp CMBS Delinquency Report (12:49)Industrial Sector: Starwood's $500M Deal (22:05)Office Sector Stories & Sales Transactions (26:57)Multifamily Financing & Sales Transactions (35:45)Programming Notes (41:59)Shoutouts (45:10)Questions or comments? Contact us at podcast@trepp.com Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
In this week's episode of The TreppWire Podcast, we dive into growing economic concerns, from stagflation risks and the ongoing market uncertainty related to tariffs and Federal Reserve policy. We discuss the quality of the monthly jobs data to forecast future demand, and break down the latest retail sales data and performance, highlighting mixed earnings reports - such as Home Depot’s slight revenue dip amid elevated interest rates. Shifting to the office sector, we spotlight the upcoming October opening of J.P. Morgan’s new $3 billion headquarters and discuss how NYC office visits have, for the first time, surpassed pre-pandemic levels. We also explore the complexities of converting office buildings to residential use in NYC, share updates on office origination data across the country, and report on three notable special servicing transfers. Tune in now.Episode notes:Economic Update: Stagflation Risks (0:28)Market Uncertainties & Data Reliability (8:58)Retail Sales & Performance Overview (15:08)J.P. Morgan Headquarters Completion (20:16) Office-to Resi Conversion Challenges (24:31)Office Originations (29:06)Two Special Servicing Transfers (32:10)New Hampshire Mall Loan Transferred to Special Servicing (41:15)Programming Notes (42:56)Shoutouts (44:56)Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
In this special guest episode of The TreppWire Podcast, we are joined by Samir Tejpaul, Managing Director and Head of Capital Markets at Madison Realty Capital. Samir draws parallels between today's market and 2011 when he started his career and shares why he's bullish on 2026. He also explains Madison's approach to analyzing supply and demand imbalances to develop investment theses across different asset classes and geographies. We dive into the evolving private credit landscape, Madison's value creation lending strategy, and their headline-making $720 million office-to-residential conversion loan for the Pfizer headquarters in New York City. We also explore the shifting dynamics of the office sector, the growing momentum behind office-to-residential conversions across the country, and the importance of building long-term client relationships through market cycles. Tune in now. Episode NotesStart in Commercial Real Estate (1:32)CRE Market Evolution 2011-2025 (3:50)Strategic Demographic-Based Investment Approach (10:20)Private Credit Market Growth Outlook (16:27)Borrower Behavior Around Interest Rates (21:20)Pfizer HQ Conversion Loan Deal (24:45)Social Media's Impact on Brand Perception (32:50)Office Market Recovery and Refinancing (36:11)Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
In this week’s episode of The TreppWire Podcast, we examine the Fed's challenging position amid mounting political pressure and July's noisy CPI print. We analyze CBRE's exclusive survey showing companies making unprecedented progress in getting employees back to the office, with enforcement and monitoring dramatically increasing. We dive deep into student housing performance across the top 15 metros with international students. We also explore quantum computing's emerging impact on commercial real estate demand, drawing parallels to AI's data center boom. Plus, we cover multifamily stories including a NYC migrant hotel conversion and apartment transactions in Portland and Seattle. Tune in now. Episode notes:• Economic Update: Fed Policy Pressure, CPI Data & Inflation Targets (1:57)• Back to Office: CBRE Survey on Attendance Enforcement (16:25)• Back to School: International Student Housing Market Analysis (21:54)• Back to the Future: Quantum Computing's Impact on CRE (31:25)• Multifamily Stories: NYC Hotel to Resi Conversion and Portland & Seattle Transactions (35:27)• Programming Notes (40:09)• Shoutouts (42:08)Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
In this week’s episode of The TreppWire Podcast, we examine weak labor data and mixed economic signals that are fueling Fed rate cut expectations while recession probabilities remain relatively contained. We analyze the crisis at the federal appraisal regulator and explore demographic challenges in the appraisal industry. We dive deep into lodging sector performance, revealing how pandemic-era capex underinvestment correlates with loan delinquency risk across hotel property types. In multifamily, we cover Elmi Communities' portfolio sale and liquidation, and New Rochelle's affordable housing success. We examine S2 Capital's acquisition of Fort Capital's industrial platform as Chris Powers pivots toward technology and artificial intelligence. We close with mixed-use stories, including CoreWeave's data center purchase and a Houston retail complex sale. Tune in now. Episode notes:Economic Update: Jobs Report & Fed Outlook (0:28)Appraisal Industry Troubles & Demographic Crisis (10:50)Lodging Delinquencies & Capex Analysis (19:51)Multifamily: Elmi Communities Liquidation & New Rochelle Affordable Housing Success (30:54)Industrial: S2 Capital Acquires Fort Capital (37:16)Mixed-Use: CoreWeave & Bixby Acquisitions (41:47)Programming Notes (45:40)Shoutouts (46:13)Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
In this week’s episode of The TreppWire Podcast, we break down the Fed’s decision to keep rates steady and provide our thoughts on whether there will be a rate cut in September. We discuss Friday’s tariff deadline, negotiations that are still pending, and the implications on the economy. In other parts of the market, we analyze recent bank earnings and some of the findings as it relates to commercial real estate (CRE) portfolios. We analyze CBRE’s positive earnings report and some signals that have come about from recent real estate executive commentary. We dive into a recent Trepp report on the commercial mortgage-backed securities (CMBS) “maturity drag,” where roughly $23 billion in loans are stalling past their due dates, and preview Trepp’s July CMBS Delinquency Report numbers, which showed that the rate was up 10 basis points to 7.23%. Tune in now.Episode NotesEconomic Update: Fed Holds Interest Rates Steady (1:49)Friday’s Tariff Deadline (12:14)Recent Bank Earnings (16:11)CBRE Positive Earnings Report (27.59)Maturity Drag Phenomenon (38:18)Trepp’s July CMBS Delinquency Numbers (45:09)Trading Alert Headlines (47:36)Closing (48:37)Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
In this week’s episode of The TreppWire Podcast, we spotlight the top-performing U.S. cities driving the commercial real estate (CRE) market and break down the key differences between value drivers in commercial versus residential real estate. We discuss the single-family housing market impact on CRE, as well as general housing affordability concerns. Analyzing CRE valuation approaches, we provide insights into cashflows and market strength across different asset classes. We share two major real estate transactions from the week in New York City, including The Van Barton Group’s $103 million acquisition of 1011 First Avenue, and wrap up the episode with multifamily market challenges and outlook. Tune in now. This episode is sponsored by Resilience Insurance AnalyticsEpisode notes:Economic Update (0:27)Housing Market Affordability Crisis (7:03)Commercial vs. Residential Value Drivers (12:50)Dallas: Leading U.S. CRE Market (18:38)NYC Office Transactions (25:04)SASB Loan Extension (29:27)Multifamily Market Challenges and Outlook (30:57)Multifamily Transactions in Seattle and Chicago (35:45)Programming Notes (41:12)Shoutouts (42:32)Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
In this week's episode of The TreppWire Podcast, we discuss escalating political tensions surrounding Federal Reserve independence and examine June's inflation data showing limited tariff impacts. We analyze the growing role of private credit in filling gaps left by traditional lenders and discuss concerns about market opacity and systemic risk. We break down our latest special servicing data, including office’s all-time high rate of 16.38%. We explore office challenges in Manhattan and DC alongside Austin green shoots, cover Starwood's $2.2B purchase of Brookfield's net lease platform, and highlight multifamily transactions across Brooklyn, Washington DC, and Minneapolis. Tune in now. Episode Notes: • Economic Update • Private Credit: Market Growth, Risks & Regulatory Questions• Starwood's $2.2B Net Lease Acquisition from Brookfield• Special Servicing Report: Office Hits All-Time High• Office Crabgrass: 5 Bryant Park Refi Challenges & DC Value Reduction• Office Green Shoots: Nvidia's Austin Expansion Plans• Multifamily Transactions: Brooklyn, DC & Minneapolis Sales• Programming Notes • Shoutouts Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
In this special guest episode of The TreppWire Podcast, we are joined by Steve Chow, Principal and Head of Capital Markets, Analytics and Trading at Prime Finance. Steve oversees the firm's financing and capital markets activity across three distinct commercial real estate debt strategies, including their bridge lending platform that has issued 12 CRE CLOs over the past decade. We dive into the current CRE CLO market resurgence, exploring why issuance has more than doubled in 2025, the relative value proposition driving crossover investors into the space, and the lessons learned from executing deals through various market cycles. We also discuss multifamily market fundamentals, investor concerns around deal structuring, and Prime Finance's approach to transparency and portfolio diversification. Tune in now.Episode notes:Steve Chow's Background and Prime Finance's CRE Platform (0:26)The CRE CLO Market Resurgence and Relative Value (5:42)2025 Issuance Trends and Multifamily Market (12:14)Execution Strategies and Investor Concerns (18:06)Reporting, Transparency, and Deal Structuring (21:53)Future Market Outlook and Asset Class Diversification (27:10)Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
In this week's episode of The TreppWire Podcast, we discuss the resilience in the market despite ongoing concerns about inflation and job layoffs, attributed to factors like AI integration. We unpack shifting expectations around Fed rate cuts, the growing strain on housing affordability, and credit card borrowing slowing a $5.1 billion gain in May, down from a $16.9 billion rise in April. We also examine the devastating Texas floods and their impact on commercial real estate (CRE), highlighting the rising risks of extreme weather. In the major CRE headlines of the week, we cover BlackRock’s acquisition of Elmtree Funds and major NYC transactions, including Tishman Speyer’s $385M refinance of 300 Park Avenue. We close with key multifamily deals and market trends. Tune in now.Episode Notes: Economic UpdateHousing Marketing Price Correction (4:49)Credit Card Trends (11:56)Texas Floods and Real Estate Impact (17:19)BlackRock Acquires Elmtree Funds (27:01)Tishman Speyer 300 Park Avenue Refinance (34:43)Club Row building Foreclosure (38:07)Multifamily Transactions (40:47)Programming Notes (48:00)Shoutouts (51:32)Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp
This episode was recorded on April 28, 2025. We are releasing it on July 8, 2025.In this special guest episode of The TreppWire Podcast, we’re joined by Jeffrey Berenbaum, Director and Head of CMBS and Agency CMBS Strategy at Citi Research. Jeffrey offers insights into financing markets, lending conditions, and the broader economic outlook. We explore the impact of economic uncertainty on property sectors - highlighting challenges in retail and industrial, and resilience in multifamily due to housing shortages. Jeffrey introduces his “4 Ds” for the year: data centers, government efficiency, the dollar, and derivatives. We also discuss shifts in the lending environment, the importance of consumer health data, and the potential effects of tax and regulatory policy on commercial real estate. Tune in now.Episode Notes:Career Background (1:24)Lending Environment Shifts & Optimism (6:25)Economic Uncertainty & Real Estate Impact (7:37)Property Sectors: Retail & Industrial (12:20)"4 Ds" for the Year (13:52)Importance Consumer Health Data (23:09)Office Leasing Trends (23:26)Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWireLinkedIn: www.linkedin.com/company/trepp
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forget CRE...and buy BTC.
Lonnie expected double-digit office delinqs by q4. never happened. long SLG VNO.
can you record your podcasts on fridays mid day so that it captures the full week? and so now I'll hear about this week's employment report next friday? come on!
too many Boomer comments from manus. annoying.
regarding the park ave deal, what was the full basis including TI and appreciation since 2017? hardly a green shoot imo.