The TreppWire Podcast: A Commercial Real Estate Show

In this week’s episode, we ‘ring’ in a new month with some green shoots for the commercial real estate market. The team explains why they are either buyers or sellers given the latest data. We run through the latest CMBS delinquency readings, retail news, office headlines, and more on multifamily expense data. Tune in now.

Episode Notes:

• Positive news, what can go wrong?(0:23)

• CMBS delinquencies (12:39)

• Retail news to know(15:36)

• Office crabgrass (22:18

• Office green shoots (26:03)

• More on multifamily expenses (34:16)

• Shoutouts (35:46)

• Buyers or sellers in the market (38:30)

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

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LinkedIn: www.linkedin.com/company/trepp

Facebook: www.facebook.com/TreppLLC

There was a lot to like about the latest earnings numbers, economic data, and stock movement, but what does it all mean for CRE? In this week’s episode, we break down the ‘friskiness’ in the market following some positive signs. In CRE, we talk about a positive self-storage story, a mix of green shoots and crab grass for office, and retail news to note. Tune in now.

This episode is sponsored by BetterPitch: www.betterpitch.com.

Episode Notes:

• Positive economic news (0:23)

• What does it mean for CRE? (10:42)

• Self-storage company sold (15:48)

• Office crabgrass (19:21)

• Subleases (23:55)

• Office green shoots (28:17)

• Retail mixed bag (35:52)

• Bank CRE loan performance (43:09)

• Shoutouts (43:59)

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

Follow Trepp:

Twitter: www.twitter.com/TreppWire

LinkedIn: www.linkedin.com/company/trepp

Facebook: www.facebook.com/TreppLLC

The markets seem to have gone from optimistic to exuberant over the last two weeks... In this week’s episode of The TreppWire Podcast, we discuss whether we are seeing 'irrational exuberance' yet, then dive into housing starts, jobless claims, retail sales, and bank earnings. In CRE, we break down several large office and retail stories, discuss more on multifamily syndicators, and take a look at property expense data across the US. Tune in now.

This episode of The TreppWire Podcast is sponsored by BetterPitch: https://www.betterpitch.com/

Episode Notes:

Irrational exuberance in the market? (0:23)

Macro data (4:09)

Bank earnings (9:27)

Government office occupancy (12:57)

Trepp Flash: Lead cable exposure (14:23)

Office value reduction (16:05)

Brutal sales comps (18:26)

Deed in lieus (20:30)

Office loans in special servicing (26:02)

Retail stories (3:48)

Multifamily syndicator follow-up (36:52)

Multifamily property expenses (41:48)

Shoutouts (45:14)

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

Follow Trepp:

Twitter: www.twitter.com/TreppWire

LinkedIn: www.linkedin.com/company/trepp

Facebook: www.facebook.com/TreppLLC

In this week’s episode of The TreppWire Podcast, after the CPI and PPI readings came in, we question if the rally and equity pile on was the start of something bigger or a sign of participants getting ahead of themselves. We discuss borrowers handing back the keys, multifamily CRE CLO borrowing, bank earnings, and big stories for hotels, office valuations, subleases, and retail. Tune in now.

This episode is sponsored by BetterPitch: https://www.betterpitch.com/

Episode Notes:

- Economic update: CPI, PPI, company earnings (0:23)

- Risk back on, inflection or false start? (7:53)

- Multifamily CRE CLO borrowing (13:26)

- CRE borrowers handing back keys (17:52)

- Bank earnings (22:05)

- Ashford’s plans for $1B portfolio (23:59)

- Hotel stories (30:46)

- Office valuation cut (33:22)

- Subleases (35:46)

- Retail news (41:20)

- Shoutouts (47:48)

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

Follow Trepp:

Twitter: www.twitter.com/TreppWire

LinkedIn: www.linkedin.com/company/trepp

Facebook: www.facebook.com/TreppLLC

Although we expected a lull in market news and data during the holiday week, that was not the case for CRE. In this week’s episode of The TreppWire Podcast, we start with macro news that made headlines: jobs numbers, personal expenditures, and Treasury yields. We have a lot to cover in CRE with some large office stories, more sales comps across property types for the market to chew on, and a first half of 2023 CMBS recap of issuance, spreads, and pricing data. Buckle up for a ‘Live Wire.’ Tune in now.

Episode Notes:

• Economic update (0:23)

• First-half 2023 CMBS recap (6:40)

• Trepp Property Price Index (12:17)

• Office Trading Alert (14:00)

• Philly office stories (18:03)

• Subleases (23:20)

• Green shoots (27:15)

• Crabgrass (28:27)

• CRE loan maturities (31:10)

• Comps, comps, comps (32:51)

• Shoutouts (39:10)

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

Follow Trepp:

Twitter: www.twitter.com/TreppWire

LinkedIn: www.linkedin.com/company/trepp

Facebook: www.facebook.com/TreppLLC

There was plenty of positive economic data to digest this week, all while Fed Chair Powell was “taking the punch bowl away,” commenting that more rate hikes may be necessary. In this week’s episode, we break it down. And in CRE, there were several large (and unpleasant) comps for investors to digest. We also analyze Trepp’s latest delinquency report; examine defeasance, yield maintenance, and discounted prepayments; and talk about a large industrial story. Tune in now.

Episode Notes:

• Economic updates (0:23)

• Defeasance, yield maintenance, discounted prepayments (10:02)

• Bed Bath & Beyond auction(15:12)

• Trepp CMBS delinquency report (18:10)

• Office green shoots (22:50)

• Office crabgrass (28:26)

• Sales comps across the U.S. (33:46)

• Multifamily net operating income (41:42)

• Prologis + Blackstone(44:18)

• Shoutouts (47:51)

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

Follow Trepp:

Twitter: www.twitter.com/TreppWire

LinkedIn: www.linkedin.com/company/trepp

Facebook: www.facebook.com/TreppLLC

In this episode, we discuss what we saw in the markets, starting with stocks hitting a wall after Fed Chair Powell indicated that more interest rate hikes were necessary. In CMBS, we dive into new issue pricing that provides market clarity. We also have a lot of CRE news to cover; a large apartment loan going to special servicing, office valuation reductions, some signs of life for the NYC office market, and several stories in industrial and life sciences.

Episode Notes:

• Economic updates (0:23)

• New issue pricing (7:39)

• Multifamily news (13:15)

• Office valuations (18:29)

• Office stories (20:29)

• Signs of life for NYC office (23:20)

• Retail green shoots (27:18)

• Negative retail news (29:02)

• Industrial headline (32:11)

• Life science stories (32:57)

• Shoutouts (38:29)

This week, all eyes were on the inflation numbers, the Fed’s interest rate decision, and retail sales. In this episode, we dive into the macro news and discuss whether we think this is it for the CPI and Fed Funds Rate or if we’ll continue talking about it in the second half of the year.

In CRE, we share takeaways from the annual CREFC conference in terms of issuance, price discovery, and predictions for the market. We also dive into an industrial demand story, analyze multifamily data, and note some big news in retail and office. Tune in now.

Episode Notes:

• CPI, Fed, retail sales (0:23)

• CRE conference takeaways (7:58)

• Industrial demand (15:20)

• Multifamily: digging through the data (21:18)

• Retail trading alert (29:28)

• Mixed-use 101 (32:53)

• Office stories (36:59)

• Shoutouts (42:36)

In this week’s episode of The TreppWire Podcast, the Trepp team tries to cut through the haze (in the economic markets, CRE, and with regard to the smoke covering much of the Northeast). We discuss what may have seemed like a quiet week and what is really on the horizon. In property-type news, we dive into a story about a looming hotel default that is renewing concerns about the lodging market, and for office: there seems to be no end to the sublease news. Happy 200th episode of The TreppWire Podcast and thanks for listening! Tune in now.

This episode is sponsored by Commercial Real Estate Direct: https://crenews.com/

Episode Notes:

• Economic updates (0:23)

• Loans paying off on maturity (9:45)

• Hotel trading alert (12:18)

• Positive stories for the hotel market (16:30)

• Office green shoots (21:53)

• Office crabgrass (27:15)

• Retail sales (38:32)

• Systemic bank risk (41:53)

• Shoutouts (44:48)

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

Follow Trepp:

Twitter: www.twitter.com/TreppWire

LinkedIn: www.linkedin.com/company/trepp-llc

Facebook: www.facebook.com/TreppLLC

This episode is sponsored by BetterPitch: https://www.betterpitch.com/. In this week’s episode, we break down the shift in economic news that will be bringing us back to our regularly scheduled programming of interest rate decisions, inflation, and job numbers. In commercial real estate, we had a big week for data – we saw the issuance of a CMBS deal, which is defying the debt ceiling drama and we also saw CMBS delinquency readings that investors have been anticipating for months. In office, there are several sublease stories of note. Tune in now.

Episode Notes:

- Economic updates: turning our attention back to other economic indicators (0:23)

- CRE state of the market (7:43)

- CMBS deal coming to market (9:00)

- Can CRE operate in a frozen market? (14:21)

- Delinquency report (18:16)

- Office losses at banks (26:20)

- Office stories to watch (28:06)

- Retail sales (37:58)

- Shoutouts (40:20)

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

Follow Trepp:

Twitter: www.twitter.com/TreppWire

LinkedIn: www.linkedin.com/company/trepp-llc

Facebook: www.facebook.com/TreppLLC