Bisnow Reports

Only 29% of S&P 500 companies could put a number on what AI actually did for their business this earnings season, and most of those numbers were about cutting costs, not making more money. Bisnow’s own reporting found 92% of CRE firms are running AI pilots right now, but just 5% say they’ve hit most of their goals.Reeves Davis, President of Technology Solutions at JLL, thinks the industry is asking the wrong question. At Dreamforce, Anthropic CEO Dario Amodei argued that the real value ahead isn’t new AI capability — it’s getting the tools that already exist into wider use.Davis sees that playing out inside the brokerage business, too: as AI makes it cheap for clients to build their own tools, JLL is betting its edge is still the expertise and data behind those tools, not the tools themselves. His answer comes down to one idea: someone still has to be held personally accountable when the outcome doesn’t hold up, no matter who built the tool.Davis joins First Draft Live this week to talk through where client self-service actually threatens the brokerage model, where it doesn’t, and what JLL is willing to bet the difference is worth.

Clarion Partners Managing Director Jason Glasser joins First Draft Live to break down what OZ 2.0's smaller, more competitive map means for where capital moves next.

More than $875B in commercial and multifamily loans come due this year, and for the first time since the wall started building, the pile is actually shrinking instead of growing. Fewer extensions are getting granted, which means more owners are finally being forced to answer the question they've been dodging since rates started climbing: refinance, sell or hand back the keys?Vik Uppal has built a business around that question. The founder and CEO of Mavik Capital Management just closed a $1B fund, VS3, aimed squarely at the situations the rest of the market has mispriced or missed entirely, an owner who can’t refinance or a lender who doesn’t want to foreclose. It’s the stuck middle of the maturity wall, the part everyone else walks past because they don’t have the underwriting discipline to price it right. He's also steering clear of the trade everyone else is chasing, passing on AI-adjacent assets because he thinks the valuations don't hold up.Uppal joins First Draft Live this week to walk through where the real distress is hiding beneath the default numbers, why sellers still haven't blinked on price and what he's seeing that the rest of the market isn't.

CBRE Global Client Strategist and Senior Economic Advisor Spencer Levy returns to First Draft Live to say how 2026 has — and hasn’t — played out to his expectations.

The 21st Century ROAD to Housing Act just became the most significant federal housing legislation in decades — and it became law without President Donald Trump's signature. This week on First Draft Live, Bisnow Editor-in-Chief Mark F. Bonner sits down with Sharon Wilson Géno, President of the National Multifamily Housing Council, who was literally on her way to the signing ceremony when Trump pulled out at the last minute. They dig into what almost got stripped from the bill, whether the law's headline provision has any real teeth and what NMHC is fighting for on Capitol Hill this week as implementation questions pile up at the U.S. Treasury Department.