The TreppWire Podcast: A Commercial Real Estate Show

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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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 [email protected].

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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

Questions or comments? Contact us at [email protected].

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Twitter: www.twitter.com/TreppWire

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