CRE Exchange: Commercial Real Estate, Property Valuations, Real Estate Analytics and Property Tax

Another week, another round-up of earnings releases and earnings management calls from the commercial real estate market. Last week, Omar Eltorai and Cole Perry covered REITs across the four major sectors. This week, they analyze calls from four specialty REITs and two brokerages, sharing performance metrics, key takeaways, and insights on prevailing trends. Key Moments: 00:50 - Earnings coverage:...

Every quarter, Omar Eltorai and Cole Perry listen in to the latest round of REIT earnings calls. The calls provide a glance into REIT portfolio performance, and some insight into what the management teams at these companies are focused on for the coming quarters. Today’s episode is devoted to covering a selection of calls they’ve listened into over the last couple of weeks touching on the company...

CRE Exchange hosts Omar Eltorai and Cole Perry discuss the latest macroeconomic news, including the Federal Reserve's recent interest rate decision, along with data on housing, construction spending, and GDP releases. They also touch on what has been moving the markets with a look at recent earnings across banks and commercial real estate firms. Finally, they share a review of sentiment findings f...

We welcome back Dr. Stephen Buschbom, co-host of The TreppWire Podcast and real estate and finance lecturer at Clemson University. Just over a year ago, Stephen joined us for an episode where he made a number of prescient calls on what lay ahead for 2024. In this episode, he joins Omar Eltorai and Cole Perry once again to share a retrospective on the 2024 US debt market, and discuss potential deve...

Omar and Cole kick off this week’s episode with some recent macro releases that help set the stage for 2025, then touch on some of what's happened in the capital markets since this year started. Finally, they share a number of initial industry themes for 2025 from the recent CREFC conference in Miami, and others based on personal observations of the commercial real estate market.   Key Moment...

CRE Exchange hosts, Omar Eltorai and Cole Perry, share the Q4 2024 results from the CRE Industry Conditions and Sentiment Survey. They discuss major shifts in market perceptions of property pricing, top-performing property types, transaction intentions for 2025, expected capital availability, and the various risks and opportunities predicted for the coming year. Additionally, they spotlight their...

Shlomo Chopp , managing partner of Case Equity Partners , drops in for a discussion about distressed commercial real estate. Shlomo shares his career path and expertise in advisory, restructuring, investing, and asset and property management. Chopp provides an in depth perspective, and important lessons on the complexities of investing in and restructuring distressed CRE assets. He also details th...

Our hosts, Omar Eltorai and Cole Perry, share a round-up of the latest macroeconomic indicators, upcoming policy changes, and CRE market matters both present and future. During the episode, they review US economic releases covering GDP, inflation, housing, construction, and manufacturing data; discuss upcoming moves by the incoming administration, including potential effects of tariffs planned for...

We discuss Altus Group’s newly launched report, the US CRE Investment and Transactions Quarterly. This report introduces uniquely expansive and granular insights into the volume, pricing, and pacing of commercial property investment sales during Q3 2024, both at the national level and within select metropolitan statistical areas (MSAs). Don’t miss this episode where our hosts, Cole Perry and Omar...

Cole Perry, Associate Research Director at Altus Group, recaps the first full week of REIT earnings calls. Cole shares key highlights and insights across a selection of industrial, office, retail, manufactured housing, gaming, and data center REITs. Key Takeaways: (01:36) Industrial REITs results (05:39) Office REITs results (10:39) Retail REITs results (15:01) Manufacturing housing REIT results (...

Co-host Cole Perry, shares insights he gained from the recent NAIOP CRE.Converge and Groceryshop conference. Discussion then turns to economic indicators covering NFIB Small Business Optimism Index, labor market, and the potential impact on inflation from the latest CPI and PPI releases. With US elections looming, Omar and Cole also touch on potential implications for CRE. The team then welcomes s...

We share a digest of the biggest quarter-over-quarter changes and most surprising takeaways from the Q3 CRE Industry Conditions and Sentiment Survey. Our hosts, Omar Eltorai and Cole Perry , touch on key findings across US capital conditions, expectations for debt and equity capital availability, transaction intentions, market pricing and more! Key Takeaways: (01:07) Overview of the CRE Industry C...

Co-hosts Omar Eltorai and Cole Perry are joined by Mat Dellorso , Managing Director of SEI , and Co-Founder of the Altigo platform (acquired by SEI) and WealthForge . Mat shares his entrepreneurial journey in finance and technology and discusses the challenges, opportunities and explosive growth of alternative investments and the private market. He also explains how innovative tech is providing be...

Rich Hill, SVP and Head of Real Estate Strategy and Research at Cohen & Steers, joins the show. With more than 23 years of experience in commercial real estate, Rich has cultivated a strong appreciation for approaching the market with a strategic, data-driven mindset, utilizing research and alternative data to identify valuable investments, especially in a shifting landscape.  Rich discus...

In this week’s episode of CRE Exchange, our hosts, Omar Eltorai and Cole Perry , discuss the latest macroeconomic releases, such as the Producer Price Index, Consumer Price Index and business formations. They also break down earnings reports from Walmart and Home Depot, offering insights into consumer behavior and market sentiment. Additionally, they share a sneak peek into the results of our Q3 C...

In this episode of CRE Exchange, Cole Perry , Associate Director of Research, and Omar Eltorai , Director of Research at Altus Group , offer a comprehensive analysis of recent trends and data in the commercial real estate market. They discuss the latest macroeconomic updates and spend the lion’s share of the episode on the latest REIT earnings, providing insights from each of the sectors. Key Take...

If commercial property taxes are based on market value, why can property tax assessments go up when market values are going down? And how can you compare property taxes for different property types across different cities? We get some answers to those questions and more as we sit down with Sandi Prendergast , Director of Altus Group ’s research team, to discuss findings from Altus Group’s US Real...

Join us for an engaging discussion featuring Tim Savage , Clinical Assistant Professor at NYU 's Schack Institute of Real Estate. With expertise in econometrics, machine learning and data science, Tim discusses his career path from consulting to academia, his work at NYU's Applied Analytics Lab and CREFC Center for Real Estate Finance, and the current dynamics driving the market.  We’ll also...

Our hosts, Cole Perry, Senior Market Analyst at Altus Group, and U.S. Director of Research, Omar Eltorai, share a brief analysis of the latest CRE Industry Conditions and Sentiment Survey. With over 600 respondents from the U.S. and Canada, this episode looks at the biggest shifts between the first and second quarters of 2024, including surprising trends in de-risking, cost of capital, and market...

James Nelson , Principal and Head of Avison Young’s Tri-State Investment Sales group, and Scott Singer , Principal and Co-Lead of Avison Young ’s Tri-State Debt & Equity Finance team join our latest episode of CRE Exchange!   James and Scott share their extensive experience and discuss the unique challenges and opportunities they’re seeing in the national and New York Tri-State comme...

In this episode of CRE Exchange, we provide an overview of the latest Fed news, discuss various macroeconomic releases, analyze current market conditions and touch on fixed-income equities. We also examine the commodities market, review current interest rates and discuss recent retail chain closures and downsizing. Key Takeaways: 01:50 FOMC meeting minutes. 04:41 New home sales update. 06:21 Exist...

In this episode of CRE Exchange, special guest Ed Pierzak, Senior VP of Research at Nareit, discusses real estate investment trusts (REITs). Originally created in the 1960's, the REIT industry has grown significantly over the decades as it provides accessibility for many investors to invest in real estate. Ed discusses with the hosts Nareit's mission, research initiatives, investment characteristi...

As of this episode (April 30, 2024), approximately 25% of the near 200 publicly-traded REITs in the US have reported their Q1 2024 results. Over the next week, the remaining 75% of REITs will be reporting their results and hosting their earnings calls. During this episode, we share the more interesting highlights we've heard from REITs that have already been reported. We'll go sector by sector, ca...

On this episode of CRE Exchange, we’re joined by Forum Investment Group’s Founder and CEO, Darren Fisk , and Chief Investment Officer, Jay Miller . They discuss the founding of the company; their perspectives and philosophies on multifamily investment; how the company differentiates itself through its team; Forum’s diverse fund strategy and how this strategy has kept them nimble and opportunity-ri...

On this episode, Altus Group's Director of Research, Omar Eltorai , and Senior Market Analyst, Cole Perry , are hosting a special episode of CRE Exchange. They discuss some of the most significant changes and surprises from the latest edition of the CRE Industry Conditions and Sentiments Survey. This quarterly survey is conducted across the US and Canada and provides valuable insights on market se...