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 Notes

• Start 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)

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