Claim OwnershipThe TreppWire Podcast: A Commercial Real Estate Show
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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.
264 Episodes
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In this week's episode of The TreppWire Podcast, we break down the resurgence of major commercial real estate players and their capital allocation strategies. We provide the latest data on bank CRE loan and CMBS delinquencies, explore trends in the office SASB market, and share insights on office sales, including properties listed on auction sites. Tune in now.
Episode Notes:
Blackstone commit to deploy $65 billion dry powder (1:25)
Malls into minicities (5:33)
Superregional mall feud (9:02)
Banks dumping real estate loans (13:50)
Bank CRE loan performance and CMBS delinquencies (18:12)
Mezzanine lender intervenes on Gas Company Tower (26:35)
Online office auction (29:15)
Large apartment acquisition (33:05)
SASB office market (36:22)
Shoutouts (43:35)
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In this week's episode, we check in on consumer spending trends, share a deep dive into Sunbelt multifamily data, and update our listeners on life insurance commercial mortgage returns. We also examine a ground lease office value reduction, and several transactions in industrial. Tune in now.
This episode is sponsored by Marketplace: https://rimarketplace.com/?utm_source=credirect&utm_medium=podcast_paid&utm_campaign=june2024
Episode Notes:
Economic Update (0:28)
Retail (8:15)
Sunbelt multifamily data (10:25)
Life insurance commercial mortgage returns (21:35)
Office news (23:50)
Ground lease evaluation cut (32:30)
Mixed-use (39:10)
Multifamily (48:05)
Shoutouts (53:30)
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Questions or comments? Contact us at podcast@trepp.com.
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In this week's episode of The TreppWire Podcast, the team unpacks the gritty optimism surrounding CRE that dominated discussions at CREFC. We also discuss the latest inflation reading and the narrative after the Fed opted to hold interest rates steady. In office, more loans head to special servicing, but it wasn't all bad news for the sector. We also break down the narrative in the multifamily market. Tune in now.
This episode is sponsored by Marketplace: https://rimarketplace.com/?utm_source=credirect&utm_medium=podcast_paid&utm_campaign=june2024
Episode Notes:
- CREFC recap & inflation + interest rate headlines (0:23)
- Office stories to watch (13:50)
- Retail news (29:28)
- Multifamily narrative shift? (36.00)
- Multifamily transactions (40:22)
- Mixed-use (44:45)
- Shoutouts (46:35)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
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This week, some of the biggest headlines came from overseas. In this episode of The TreppWire Podcast, we discuss if any moves by Canada and Europe will change anything for the Fed. We also put our professor hats on to provide some insight into delinquencies, foreclosures, modifications, and more. Stick around as we break down the stories we're tracking in office, retail, lodging, and mixed-use. Tune in now.
This episode is sponsored by Marketplace: https://rimarketplace.com/?utm_source=credirect&utm_medium=podcast_paid&utm_campaign=june2024
Episode Notes:
- Interest rates around the globe (0:23)
- Informational technology outflows, Dollar Tree news, American dividend earnings (4:50)
- CMBS delinquencies decline? (8:26)
- CRE loan losses (11:54)
- Office stories (15:27)
- Foreclosures 101 (24:19)
- Retail news (29:53)
- Modification deep dive (33:20)
- Mixed-use appraisal (43:37)
- Shoutouts (45:15)
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In this week's episode of The TreppWire Podcast, we tackle a mixed bag of data as Treasury Yields rise. As we approach new theses week over week, do you stick to the data or trust your gut? We also unpack our latest loan modification trends report, dive into the upcoming volume of office loan maturities, and explore recent transaction and CMBS stories across property types. Tune in now.
This episode is sponsored by AEI Consultants: https://aeiconsultants.com/
Episode Notes:
- Economic update: Treasury yields pushed higher (0:23)
- Consumer confidence reading (6:48)
- Loan modification trends (9:05)
- Maturing office loans (13:10)
- Office stories (21:55)
- Retail news (32:31)
- Lodging (39:50)
- Multifamily transactions (43:39)
- Industrial sale (46:30)
- Shoutouts (47:42)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
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In this week's episode, we break down surveys (a recent poll that revealed 55% of respondents believe the US economy is shrinking), sales transactions in the multifamily and industrial spaces, and an office sublease story. We also provide a data center digest, sharing some data points to note. We hope our listeners have a great long Memorial Day weekend!
Episode Notes:
Recession or resilience? (0:23)
Starwood’s SREI struggling to fulfill redemptions (7:00)
Banks leading five days a week in the office (8:36)
Higher-for-longer narrative reinforced (10:10)
Junk bond inflows (12:50)
Strong appetite for data centers (14:29)
$1.7 billion office portfolio loan modification (23:32)
Office headlines (28:45)
Mixed-use news (31:35)
Industrial (35:40)
Multifamily (43.15)
Shoutouts (46:50)
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In this week's episode, we unpack the market movers: a hot Producer Price Index (PPI) and a Consumer Price Index (CPI) that came in cooler than expected. We also dive into the latest REIT earnings and the ongoing debate surrounding NYC rent stabilization. Plus, the team break down two major office loans that transferred to special servicing, along with the latest news across property types. Tune in now.
Episode Notes:
- Economic update: PPI and CPI (0:48)
- Retail sales flat in April (7:02)
- REIT earnings (9:51)
- Office headlines (16:12)
- Rent stabilization and community housing (32:36)
- Multifamily sales (40:35)
- Oklahoma hotel portfolio transfers to special servicing (43:46)
- Industrial stories (48)
- Shoutouts (50;24)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
Questions or comments? Contact us at podcast@trepp.com.
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In this week's episode of The TreppWire Podcast, we analyze the latest Senior Loan Officer Opinion Survey (SLOOS) as banks clamp down on CRE lending across the board. We dissect the latest jobs report and its impact on the market as well as the latest stories across property types. The team also shares their takes on the Met Gala's fashion hits and misses. Tune in now.
Episode Notes:
- SLOOS commentary (2:44)
- Jobs market and unemployment data (6:35)
- We don't talk about rate hikes... (9:26)
- Major hospital bankruptcy (11:26)
- Office stories (14:06)
- Multifamily headlines (22:54)
- Hotel sales (32:59)
- Retail outlet loan extension (36:34)
- Industrial transaction (38:06)
- Shoutouts (41:56)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
Questions or comments? Contact us at podcast@trepp.com.
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In this week's episode, we break down if anything will really change for the commercial real estate markets following the Fed’s rate decision. We also dive into retail earnings, and specifically discuss some of the latest news for fast food chains. We share our latest CMBS delinquency rates and discuss what a negative headline means in the very dynamic world of CRE. Then, we run through stories for mixed-use, office, retail, industrial, and multifamily. Tune in now.
Episode Notes:
- Fed meeting, economic update - impact on CRE (0:23)
- Retail earnings: fast food (9:40)
- CMBS delinquency rates (15:55)
- Office stories (19:00)
- Mixed-use overview (25:01)
- Multifamily stories (36:35)
- Retail headlines (40:12)
- Industrial (42:58)
- Lodging (45:27)
- Shoutouts (46:10)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
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In this special guest episode of The TreppWire Podcast, we are joined by NFL offensive lineman for the New York Giants and savvy real estate investor, Justin Pugh. Justin talks us through his journey in the NFL and offers insights into the reality of professional football. He also dives deep into his transition into the real estate space with a touchdown on his passion for mentoring those with future aspirations to succeed in the industry. Tune in now.
Episode Notes:
- Journey to the NFL (1:20)
- Why real estate? (4:27)
- Juggling plays and textbooks (7:48)
- Financial reality of being in the NFL (12:00)
- Mentoring in the real estate space (13:48)
- Building a brand through social media (16:58)
- Trial by fire in real estate development (20:21)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
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This week's episode of The TreppWire Podcast was recorded early, so the team used this time to provide our listeners with a breakdown of the topics the market has been focused on lately: maturities, modifications, CRE risk pricing, cap rates, and more. In our usual fashion, we also dive into the CRE property types, but today, we share delinquency, DSCR, debt yield, and other important data points to note for each sector.
Episode Notes:
- Extend and pretend? Background and history (2:13)
- Is there a silver lining for office properties that can extend? (6:48)
- How have changing rates related to property values? + Cap Rates (9:28)
- Risk pricing within CRE, Gordon Growth Framework (13:44)
- Size of the CRE Universe (25:25)
- Deep Dive into the Data- Office, Multifamily, Retail, Lodging (28:10)
- San Antonio market (42:35)
- Debt yield and underwriting standards (47:39)
- Multifamily debt yield (49:24)
- Freddie Mac multifamily (51:28)
- Shoutouts (1:01:06)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
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Between the retail sales report, comments from Fed Chair Powell, and tensions in the Middle East, there’s been a lot to digest recently. In this week's episode of The TreppWire Podcast, we break down Powell's pivot and in CRE, dig into a large multifamily transfer to special servicing, new regional mall CMBS issuance, and share stories on property transactions and appraisal reductions. Tune in now.
This episode is sponsored by Marketplace: https://rimarketplace.com/esahotels#utm_source=credirect&utm_medium=preroll_paid&utm_campaign=hospitality
Episode Notes:
- Economic update: Fed comments (0:23)
- Bank earnings (9:46)
- $1.5B multifamily loan transferred to special servicing (15:58)
- Multifamily sales (24:31)
- Office (27:21)
- Retail new issuance (38:15)
- Sales transactions (47:31)
- Shoutouts (50:23)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
Questions or comments? Contact us at podcast@trepp.com.
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This week, we got another inflation reading that – leading up to it – had market participants in a "what if" mode, wondering what would happen if the number came in higher, lower, or in-line with expectations. In this week's episode, we break down this changing narrative, we also talk about Blackstone's $10 billion multifamily acquisition, and what appeared to be a $2.00/square foot office sale in St. Louis... We also dig into green shoots and crabgrass for retail, lodging, and industrial. Tune in now.
This episode is sponsored by Marketplace: https://rimarketplace.com/esahotels#utm_source=credirect&utm_medium=paid&utm_campaign=hospitality
Episode Notes:
- Economic update: CPI report (0:23)
- Blackstone's $10B multifamily purchase (11:27)
- Multifamily loans in special servicing (18:35)
- $2.00 office sale? (23:30)
- Office stories (29:55)
- CRE across the gateway cities (33:49)
- Retail news (36:22)
- Industrial (41:13)
- Lodging news (42:29)
- Shoutouts (46:21)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
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In this special guest episode of The TreppWire Podcast, Oscar Parra, CFO of Pacific Retail Capital Partners, joins the team to share a deep dive into the shopping mall asset class. Oscar reveals how to identify opportunities and navigate challenges within the evolving mall space. Oscar breaks down some recent transactions and shares the details of a $2.5 billion mall redevelopment. Tune in now.
Episode Notes:
Background (0:58)
Position in the enclosed mall space (4:16)
Identifying opportunities and navigating challenges (6:35)
Mixed-use malls? (12:25)
Breaking down mall acquisitions (19:26)
Managing municipalities (27:14)
Breaking down a mall sale (35:46)
$2.5 billion mall redevelopment (39:36)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
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In this episode, we delve into the market downturn that kicked off Q2—is it a mere correction or indicative of deeper underlying issues? In CRE, we share our latest CMBS delinquency rates and loan loss figures, then dive into distressed Chicago multifamily comps, and notable industrial property sales. Tune in now.
Episode Notes:
- Economic update: stocks slide, market correction? (0:23)
- CMBS delinquency rates (5:03)
- Multifamily comps (11:54)
- Office stories (20:45)
- Office crabgrass (27:36)
- Industrial transactions (35:55)
- Hotel sale (40:29)
- Shoutouts (42:34)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
Questions or comments? Contact us at podcast@trepp.com.
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In this week's episode of The TreppWire Podcast, we ask the question: 'Is distress in commercial real estate a result of lagging indicators or is market optimism winning the narrative battle?' after breaking down positive economic signals but cautioning that CRE might not be out of the woods yet. We also share green shoots and crabgrass across the asset classes and provide a sneak peek into our bank CRE loan performance data. Tune in now.
Episode Notes:
- Economic and market update (0:23)
- Illiquidity of CRE, lags in real estate (5:15)
- Bank CRE loan data (9:21)
- Retail crabgrass (11:49)
- Multifamily crabgrass(19:48)
- Office crabgrass (25:22)
- Green shoots for office loans and properties (30:14)
- Industrial transactions (33:19)
- Lodging (36:50)
- Shoutouts (38:06)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
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After the Fed meeting this week and signs that there will be interest rate cuts in 2024, we ask ourselves if the 'devil is in the Fed Dot Plot'. In this week's episode of The TreppWire Podcast, we also analyze housing starts, Joann fabric's bankruptcy filing, stories of value reductions for malls, San Francisco's latest sublease space, and several multifamily, lodging, and industrial stories. Tune in now.
Episode Notes:
- Economic update: Fed meeting (0:23)
- Housing starts (8:31)
- FDIC disposition of SVB loans (12:00)
- Retail transactions (15:01)
- Joann fabric bankruptcy (16:03)
- Retail CRE news (19:55)
- Office stories (32:07)
- Multifamily transactions (37:38)
- Lodging news (40:41)
- Industrial (43:59)
- Shoutouts (48:08)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
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In this week's episode of The TreppWire Podcast, we break down the economic headlines along with the news of Family Dollar closing 1,000 stores. We also dig into retail and multifamily transactions, crab grass + a potential mixed-green for office, and more in lodging and industrial. Tune in now.
Episode Notes:
- Economic update (0:23)
- Dollar Tree closures/ Family Dollar news (2:22)
- Cash-in mall refi (10:32)
- Retail transactions (15:01)
- Office news (16:44)
- Multifamily sales and financing (30:43)
- Lodging news (36:31)
- Industrial (44:22)
- Shoutouts (47:58)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
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This week, we've had no lack of news including ADP, JOLTS, NYCB’s $1 billion-plus capital injection, and Fed Chair Powell’s semi-annual congressional testimony. In this episode, we break down what it all means for CRE, dive into CMBS loan losses, and share stories on apartment sales, office crabgrass, and retail green shoots. Tune in now.
Episode Notes:
- Economic update (0:23)
- CMBS loan losses (8:10)
- Not all class b/c offices are created equal (11:59)
- Office crabgrass (16:20)
- Property valuations (21:25)
- Multifamily sales (28:03)
- Retail green shoots (35:40)
- Shoutouts (41:11)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
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In this week's episode of The TreppWire Podcast, we break down PCE data, Macy's store closure news and the exposure in CRE, and Trepp's latest figures for CMBS delinquencies. Across property types, we review stories about loans heading to special servicing, property valuation reductions, and discounted payoffs. We also share a review of REIT earnings. Tune in now.
Episode Notes:
- Economic update (0:23)
- Macy's store closures (4:50)
- CMBS delinquency report (9:35)
- REIT earnings (13:38)
- Office crabgrass (19:04)
- Multifamily sales (28:27)
- Retail news (30:56)
- Lodging (37:44)
- Industrial and self-storage (44:32)
- Shoutouts (46:27)
Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG
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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.