The TreppWire Podcast: A Commercial Real Estate Show

In this week’s episode, we analyze the recent drops in the delinquency rate, especially for hotels and retail, and what it means for the market. We take listeners through the latest office headlines, retail news and earnings, CRE CLO performance, and dive into the Texas real estate market.

Episode Notes:

Market news (0:20)

Retail earnings (1:54)

Delinquency rates (6:48)

Office news (11:30)

Update on WeWork (20:56)

Washington Prime Group (23:27)

CRE CLO update (25:20)

Texas news (34:07)

Spreads on new deals (38:12)

Shoutouts (41:25)

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

In a special guest episode, we welcome John Worth, Executive Vice President of Research and Investor Outreach at Nareit, the voice for REITs and publicly-traded real estate companies. John talks to the team about REIT performance over the past year, potential new regulatory impacts, takeaways from REIT earnings, and thoughts on the future of the office. He also shares his forward-looking comments for the market.

Episode Notes:

• REITs 101 (00:40)

• The past year – REIT performance (3:06)

• What types of debt do REITs use (8:29)

• New regulation impacts (11:23)

• Takeaways from REIT earnings (13:28)

• Office (17:50)

• Travel/Conferences (22:40)

• Predictions and forward-looking comments (23:59)

• Inflation and interest rates for REITs (26:20)

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

In this week’s episode, Lonnie Hendry is back as we review the latest market news. We give an early look at changes in revenue and net operating income, dive into nuances in servicer data, discuss a rescue fund for hotels, and comb through more office news. On the retail front, we talk about more store closings and co-tenancy clauses.

Episode Notes:

• Latest market news (1:10)

• Office news (6:32)

• Deal of the Week (13:35)

• Retail and store closures (15:46)

• Co-tenancy education segment (18:41)

• New appraisals and valuations (27:03)

• Financial performance of properties in CMBS (33:00)

• Fund to rescue hotels (37:27)

• Nuances in servicer data (41:44)

• Future CRE Leaders Awards (46:10)

• Shoutouts(47:25)

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

In this week’s episode, we look at the latest headlines fanning the flames of concerns over inflation. We also discuss even more companies shedding their office footprints, value reductions and revaluations for malls across the country, and opportunities in the NYC hotel market. Lastly, Manus and Joe give an overview of types of credit enhancement and look at the Fed’s latest stress testing scenarios.

Episode Notes:

• Concerns over inflation (00:59)

• Office news (6:18)

• Conversion of properties (14:10)

• Hotel earnings (17:04)

• Federal ban on foreclosures (22:24)

• Mall value reductions and revaluations (27:44)

• Credit enhancement 101 (30:40)

• 2021 Fed Stress Test scenarios (35:23)

• Deal of the week (41:47)

• Shoutouts (43:20)

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

In this week’s episode, we look at the latest mix of bad and good news for the commercial real estate property types. We walk through this week’s ‘Ground Zero’- like office headlines, unicorn news for the hotel segment, Simon’s retail earnings, and Amazon’s industrial story. We also discuss our Life Insurance Commercial Mortgage Return Index and CMBS deal pricing 101. In time for Valentine’s day, we share our thoughts on the holiday.

Notes:

• Market Headlines (0:45)

• Office sector news: sublets (1:30)

• NY office news (7:37)

• Chicago – 'Ground Zero' for office(9:05)

• San Francisco segment (10:23)

• Unicorn headlines for hotels(13:24)

• The "salvation of the shopping mall" (20:25)

• Simon earnings (26:30)

• Industrial news from Amazon (31:26)

• New CMBS Deal Pricing 101 (33:43)

• Life Insurance Commercial Mortgage Return Index(41:15)

• Shoutouts (42:35)

• Deal of the Week (47:26)

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

The Mortgage Bankers Association recently hosted the CREF21 virtual conference and released their Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. In a special episode, MBA’s Jamie Woodwell, VP of Research and Economics, and Mike Flood, Senior VP of Commercial/Multifamily Policy and Member Engagement walk us through the takeaways. We also discuss how the new administration can impact real estate finance policies, look at what the recovery may look like, and predictions for the office market.

Episode Notes

• Intros (0:43)

• MBA CREF21 Takeaways (2:35)

• What is working to help the markets? (5:35)

• Liquidity in the market (8:50)

• Market indicators for the health of the industry (11:41)

o Quarterly originations index (12:08)

• What will the recovery look like? (16:26)

• Impacts of the new administration on CRE finance (21:24)

• Policies to watch for CMBS participants (25:21)

• Eviction Moratorium and rental assistance (33:38)

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

In this week’s episode, we welcome Trepp’s Head of EMEA & APAC, and Chair of the MERG, Vivek-Anand Dattani to give a rundown of what is happening in the European markets. We also dive into US market news, highlight the latest delinquency and distress rates, review CMBX trading, retail and office news, and the Eviction Moratorium. Listen until the end for the team’s Super Bowl LV picks.

Episode Notes

• Covid and market news around the globe (1:00)

• US Market Update (3:45)

• Delinquency, special servicing, watchlist rates by property type (4:57)

• UK CRE and CMBS trends (10:23)

• US retail news (17:20)

• CMBX trading overview (20:46)

• Multifamily and the Eviction Moratorium (30:09)

• REIT earnings (36:00)

• Leases of the week (40:27)

• Notable sales (46:01)

• Corporate CLO market update (48:13)

• Shoutouts (53:43)

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

In a special episode, we welcome Ethan Chernofsky, VP of Marketing at Placer.ai, a firm that uses cellphone data to track consumer behavior. We discuss how watching foot traffic in retail has emerged as a leading indicator of property performance. We also cover surprises in offline retail, the 2020 retail winners, and predictions for 2021 winners.

Episode Notes

• About Placer.ai (00:30)

• Surprises in the demand for data(2:48)

• 2020 retail winners (6:08)

• Challenges for malls (9:00)

• An update on the fitness market (15:25)

• Foot traffic data for overall property performance(19:44)

• Greenshoots in the market (29:23)

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

In this week’s episode, we break down the short squeeze surge that made headlines this week and why it matters to the commercial real estate market. We also discuss the latest retailer closings, the conversion of malls, more news on apartment occupancy, and corporate office closures. The team highlights some of very own Trading Alerts for those in the market.

Episode Notes:

Stark stock moves and why it matters for CRE (0:44)

Retail closures (12:40)

Trading Alerts (14:35)

The conversion of malls (24:45)

Apartment occupancy news (29:45)

Tenant rights (31:49)

Corporate office closures (34:06)

Deals of the week (38:35)

Shoutouts (39:43)

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

In this week’s episode, we break down what the new policies from the Biden administration could mean for CRE and finance and specifically discuss the vaccine rollout. We also talk about the big takeaways from Q4 bank earnings, the latest bank loan delinquency rates, tumbling occupancy levels in the multifamily sector, and a wave of hotel bankruptcies. Tune in to hear how we also work chicken wings, Tom Brady, and airline wine into the conversation.

Episode Notes:

Vaccine rollout and administrative changes (0:54)

The future of policies aimed at the financial industry (5:36)

Q4 Bank earnings (12:20)

Bank CRE Delinquencies on the rise (20:10)

Falling occupancy levels in multifamily (22:00)

Wave of hotel bankruptcies and deed-in-lieus (28:00)

Office news (33:20)

Deals of the Week (36:23)