The TreppWire Podcast: A Commercial Real Estate Show

In this week’s episode, we welcome Douglas Wilson, CEO and Chairman of Douglas Wilson Companies, to discuss challenges in commercial real estate and how to navigate them. We dive into what it means to be a receiver, the four types of receiverships, and compare financial crises over time. We also discuss the health and outlook for different property sectors and finally, touch on what may be the next tipping point of concern for the market. Listen now.

Episode Notes:

What does it mean to be a receiver? (4:14)

Four types of receiverships (6:35)

How often does the alignment get unaligned? (8:00)

No two crises are the same: comparing downturns (10:07)

Strategies when dealing with different lenders and players (13:50)

Changes since COVID, market liquidity (16:15)

Different property sectors – health & outlook (23:25)

Fallout from China (26:30)

Next tipping point of concern (28:25)

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

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In this week’s episode, our team weighs in on the latest mixed economic data and covers the falling CMBS delinquency rate that hit a new milestone in the pandemic era. We also discuss green shoot stories for office, our Deal of the Week, and recent must-know activity in the hotel market.

Stick around as we talk luxury handbags and try to wrap our heads around NFT McRibs and metaverse sneakers.

Episode Notes:

• Mixed round of economic data (0:20)

• CMBS delinquency rate hits new milestone (6:27)

• Office green shoots with some crabgrass (11:19)

• Deal of the Week: Houston office (15:05)

• Must-Know: Amazon in Jersey City (16:54)

• Bankruptcy Trading Alert (18:06)

• Activity in the hotel sector (22:16)

• Green shoots and new developments (27:00)

• Retail data points (28:43)

• Shoutouts + NFT McRibs and MetaVerse Sneakers (34:14)

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

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In this week’s episode, Orest Mandzy, Managing Editor of CRE Direct joins to discuss our Quarterly Data Review, a recap of the top CRE and CMBS data from the quarter. We also talk about a big Trading Alert that represents a positive for the Chicago office market, discuss the health sciences sector that is heating up, and cover mall loan liquidations.

Download the Quarterly Data Review here: https://www.trepp.com/q3-2021-quarterly-data-review

Episode Notes:

Economic news, spending bill (0:25)

Quarterly Data Review: CMBS rankings and risk retention 101 (6:29)

Update on 2017 loan that cured (17:26)

Shopping mall liquidations/resolutions (19:24)

Trading Alert: Chicago Office Under Contract – Sale Price 80% Higher Than Most Recent Value (22:37)

Health sciences heating up (31:10)

Deals of the Week (35:43)

Shoutouts (39:56)

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

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Near term market outlook is positive but elevated prices, supply chain problems, a shortage of workers, and the Delta Variant are creating uncertainty. In this week's episode, we discuss the scariest macroeconomic issues in terms of impact on commercial real estate. Darren King, Trepp’s Head of CMBS joins us to discuss the almost-record CMBS issuance and explains what is happening in the conduit market. We then dive into the latest hotel activity stories and review hotel losses from the last decade.

Episode Notes:

Market news (0:25)

What is the scariest macro issue for CRE? (5:40)

CMBS and CRE CLO issuance update (13:43)

What can supply the conduit pipeline going forward (18:30)

An uptick in hotel activity (24:06)

Hotel losses in the last decade (34:37)

Shoutouts (43:00)

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

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In this week's episode, we go behind the headlines of the latest bank earnings and economic news. In commercial real estate and CMBS, we dive into a wave of negative office downsizing stories, several retail Trading Alerts about mall loan extensions, and some office sales and signings. Tune in for our discussion of the death of the fun-sized candy bar.

Episode Notes:

Fed tapering, economic update (0:20)

Office loans with expiring leases (8:14)

Office crabgrass: downsizings (10:14)

Alarming Chicago office news (16:08)

Office green shoots, sales & signings, positive signs in Atlanta (18:15)

Price moving event: mall loan extension (23:53)

Retail and hotel trading alerts (29:45)

Bank Earnings, behind the headlines (35:20)

Shoutouts (41:17)

Halloween 2021 (42:38)

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

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In this episode, we welcome back special guest, Mike Flood, Senior Vice President of Commercial/Multifamily Policy and Member Engagement at the Mortgage Bankers Association to give us a round-up of the latest regulations and how they currently are impacting (and potentially will impact) commercial real estate. We discuss taxes, infrastructure, and the debt ceiling, and then dive into the multifamily sector, banking areas to watch, and insurance lending and ESG. Tune in now.

Episode Notes:

Taxes, infrastructure, and the debt ceiling (0:45)

Spending Bill: impact on CRE (6:45)

Multifamily sector (15:01)

Revision of GSE conservatorship capital framework (20:54)

HUD and FFB: Affordable housing (27:03)

Banking areas to watch (30:41)

Climate-related issues for insurers (34:45)

ESG lending (38:31)

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

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While the rest of the economy drops with signs of turmoil this week, the commercial real estate market has been holding strong. In this week’s episode, we discuss inflation and supply chain issues impacting the markets. Then, we dive into some positive signs for CRE in terms of CMBS and bank loan delinquencies, and the latest office, retail, and hotel news. Tune in now.

Episode Notes:

• Inflation and supply chain issues (0:18)

• CMBS delinquency rates(6:54)

• Bank loan delinquencies and risk ratings (8:42)

• Office green shoots(11:02)

• Return to office changes (15:09)

• Must-know news (18:09)

• Positive retail news (19:24)

• Hotel stories (23:34)

• Slice of Life: A “gratuitously obnoxious” story (28:05)

• Shoutouts (31:12)

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

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In this week’s episode of The TreppWire Podcast, we discuss the Evergrande news, comparing what we are seeing now to the Great Financial Crisis. We dive into a headline story that our own TreppWire team uncovered involving a misallocation of $12 million to CMBS bondholders. Professor Lonnie Hendry joins to give his office market predictions and share a rental rates 101 segment. Finally, what happens in Vegas doesn’t stay in Vegas, tune in to hear Manus’ takeaways from a recent trip.

Episode Notes:

• Evergrande and economic update (0:47)

• Comparison to the GFC and Lehman (7:26)

• Misallocation of funds / CMBS 101 (13:05)

• Office green shoots (22:36)

• Professor Hendry’s predictions: headwinds for office (25:01)

• Rental rates 101 / office lease analysis (29:43)

• Should-know office story (35:13)

• Shoutouts (40:52)

• Vegas vibe check (43:10)

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

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The 100th episode of The TreppWire Podcast is here! Thank you to our listeners who have been along for the journey. In the milestone episode, we review stats that have taken CRE on a wild ride: COVID cases, travel numbers, unemployment, occupancy levels, and loan delinquencies. Then, we dive into this week’s news about business travel, real estate regulations, retail must-knows, and the return to the office. Stay tuned to see how you can win a pair of “iEars.”

Episode Notes:

100th episode (0:21)

CRE’s wild ride throughout the pandemic: the numbers (4:52)

This week’s news (10:00)

Hotels, business travel (15:18)

Return to office updates (20:13)

Office green shoots: Must-Know of the Week (21:45)

Retail: must-know news for brokers and CMBX 6 longs and shorts (24:36)

Regulatory updates (31:58)

Shoutouts (34:26)

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

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The latest job claims update, higher than expected wage growth, and economic slowdown this summer due to the delta variant have us weighing the possibility of a future sell-off. In this week’s episode of The TreppWire Podcast, we dive into the latest change-up in return to office plans and what this means for the office market in various cities, we talk through Labor Day travel numbers and signs of a comeback for the hotel sector, and provide an update on recent retail gains. Stay tuned for our 100th episode next week!

Episode Notes:

Job Claims Update & Higher than Expected Wage Growth (1:45)

Is a Tax Correction Coming? (7:05)

Green-shoots in the Office Market (18:50)

Must-Know of the Week: Crabgrass in St. Louis (25:01)

Travel Numbers Almost Back to 2019 Levels…How are Hotels Holding Up? (26:34)

Deep Dive on Las Vegas Hotel: LIBOR on the Floor (28:20)

Are the Best of Retail Gains Behind Us? (34:35)

Shout-outs (38:38)

NFL Predictions (42:00)

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

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