The TreppWire Podcast: A Commercial Real Estate Show

In this week's episode, we cover the latest jobs and housing data, travel earnings, and share takeaways from the MBA CREF conference. We also talk about Brookfield’s defaults and office crabgrass, then share some large multifamily loan moves. In case you missed it, Trepp and CompStak released a report examining office loan maturities and lease expirations. Trepp’s Director of Research, Stephen Bus...

In this week’s episode of The TreppWire Podcast, we examine a few themes in commercial real estate: signs of improvement for the hotel market, a slowdown in industrial, and the impact of tech on the office sector. We also dive into the pricing of a new CMBS conduit deal, and cover some recent company earnings and what they mean for the markets at large. Tune in now. Episode Notes: • Economic news...

In this week's episode, we present an inaugural Trading Alert recorded live on the podcast, where we dive into the news of a large real estate player handing back the keys to their office holdings and decide if it will cause a seismic shift in the CRE sector. We talk multifamily markets to watch, delinquency rates revealing it’s not all doom and gloom, and many corporate announcements and earnings...

In this week's episode, we are reviewing what looks like a bumpy year ahead for the economic markets. We talk about the prospect of national rent control, which has sent worries through the multifamily market, company earnings, housing news, and more tech layoffs (+ some company expansions). In the CMBS market, we review historical loan spreads, which can provide a useful metric during volatile ti...

In this week's episode of The TreppWire Podcast, we are watching the Japanese bond market, big bank earnings, the legal debt ceiling, retail sales, and housing news. In commercial real estate finance, we talk about retailer bankruptcies, the latest sales transaction data, office loans to watch, and sublease, sales, and vacancy stories across the country. Tune in now. Episode Notes: • Economic upda...

For the last few days, the podcast team was at CREFC Miami, where the sentiment surrounded “cautious optimism” (or was it “cautious pessimism?”) and the 'game of chicken' that is taking place for buyers/sellers and borrowers/lenders. In this week's episode, Orest Mandzy of CRE Direct joins the team to share our takeaways from the CRE finance industry conference, dive into what’s to come for multif...

Recent reports show that more than two-thirds of economists at 23 large financial institutions are predicting a U.S. recession.  In this week's episode of The TreppWire Podcast, we examine the negativity that has made its way to 2023, reviewing Fed minutes, more Tech firm issues, and our own CMBS delinquency rate rising in December 2022. It’s not all bad news. Among news about firms downsizing, st...

In the final episode of 2022, the team pauses to review the year, reflecting on pleasant and unpleasant surprises and the CRE stories that topped the headlines. In this week's episode, we share a look back at 2022 and also look ahead to 2023, sharing some of our commercial real estate and economic market predictions for next year based on what we've learned from the stories. Stick around to learn...

In this week's episode, we discuss weak holiday sales, retail earnings, and the soft housing market. In CRE, there is a lot to cover in the office and retail sectors, with positive, negative, and neutral stories that paint a picture of what is to come in 2023. The team also shares their holiday wish lists. Happy holidays to all our listeners! Episode Notes: • Economic data: consumer sentiment, rec...

This week, the big investor reaction was to the Fed’s so-called “dot plot” that sees a higher Fed Funds target range. In this episode of The TreppWire Podcast, we dive into the welcomed CPI print, the Fed decision, retail sales, housing, and what it all means for CRE. We also have a lot to discuss in the office market, with a focus on loan refinancings, tenant moves, space consolidations, and more...

In this week’s episode, we analyze what appears to be a commercial real estate market turning negative. Rob Jordan, Head of CMBS, joins the team as we discuss market sentiment, borrower concerns, and predictions for the economy and Q4 bank earnings. In property-type news, we saw a lot of negative news for the office market – opening the door to the question: are offices the new malls? We also see...

In this week’s episode, we dive into some major stories touching the CRE and CMBS markets including office crabgrass, interesting loan modifications, hotel loan extensions, retail challenges, and industrial news. In a new segment, we introduce the Trepp unicorn, diving into a story about rare excess recovery. We also share our latest delinquency data and life insurance commercial mortgage returns....

This week, earnings season wound down with more retailers showing better-than-expected results and a shortened trading week due to the holiday meaning more focus on what the Fed is signaling for December. In this episode of The TreppWire Podcast, we dive into several big stories across the major property types: borrowers extending, missing balloon payments, and property valuations declining. Tune...

This week, it was easier to find green shoots than Taylor Swift tickets, but CRE still can’t “shake off” higher rates. In this week’s episode, Andrew Jacobs, Head of Structured Finance, joins the team as we discuss retail earnings, the CRE CLO market, housing data, loan payoffs, and the impact on leveraged loans in a higher-rate environment. We also dive into a few major office, retail, and hotel...

In a special guest episode, Michael Flood, SVP of Commercial & Multifamily, and Borden Hoskins, AVP of Legislative & Political Affairs from the Mortgage Bankers Association (MBA) join the team to provide an update on the midterm elections and the CRE regulatory landscape. We dive into what the election results mean for CRE, how various sectors will be affected, and what regulators will focus their...

In this week’s episode, we dive into the latest news surrounding the CPI print, cracks in the housing market, and the ‘Tech Wreck’ that is dragging the markets down. In CRE, Research Director, Stephen Buschbom joins to talk through REIT earnings and student housing loan distress. We also provide recent negative multifamily and office stories. Tune in now. Episode Notes: • Economic news(0:26) • CPI...

This week, investors expected the interest rate increase, but the commentary was more hawkish than predicted. In this episode of The TreppWire Podcast, we dive into the latest economic and CMBS data, highlighting the recent rise in delinquencies. In digging through the data, we found that there is about $300M worth of active "floating-rate" loans, so what is the story here? Then, we share green sh...

In this week's episode, we review mixed economic data, with a focus on the latest news for the technology sector and how it will impact CRE. We discuss reasons for optimism and pessimism, discuss CMBS spreads, a cap rate analysis, and hairline fractures for the multifamily market. We also share some office headlines and give an overview of NYC's Local Law 97.  Tune in now. Episode Notes: • Economi...

In a special guest episode, we welcome Tony Yousif, Director of National Accounts at SVN. We dive into the latest in commercial real estate distress, with Tony sharing a boots-on-the-ground view of asset classes to watch, trends by geography, and the difference among types of lenders. Tony shares where the opportunities are and where some may get stuck in the mud. Tune in now. Episode Notes: - Bac...

This week, we saw the 10-year yield hit its highest level since 2008. In this episode, we examine what was a rough week in terms of economic data but not for the markets, also highlighting sirens in housing, and the latest themes from bank earnings. In CRE, we go through a list of office sublease stories and we review the amount of loans maturing within the next 24 months.  Tune in now. Episode No...

In this week’s episode, we examine how rising rates and the cost of interest rate caps are threatening to derail the commercial real estate market. Then, we dig through operational and origination statistics for multifamily across the top five markets and compare the data to the office sector statistics. We close by reviewing the latest office and retail headlines to watch. Episode Notes: Gloomy e...

In this week’s episode, we search for signs to see if the economy is responding to the Fed’s medicine. In a segment called ‘Digging Through the Data,’ we examine underlying distress for multifamily, retail and lodging. We also provide an update on the CMBS market, reviewing delinquency rates and slowed issuance. Then, we share predictions for Q3 bank earnings. Episode Notes: • Economic news (0:23)...

This week, markets are in turmoil, the dollar is surging, and a currency crisis triggered a surprise move by the Bank of England. With all of that, we also can’t ignore the impact of Hurricane Ian. In this episode, we dive into the headlines, with a theme that when trust starts to evaporate, so does liquidity. We also review data surrounding true signs of CRE distress, map the exposure of $52 bill...

While the latest interest rate hike was no surprise, markets reacted this week. In this week’s episode, we dive into the economic news to know: housing, rates, and big company news. In CRE, we preview an analysis of multifamily cap rates, dive into life insurance commercial mortgage returns and share the latest hotel, retail, and office stories. Episode Notes: Economic news (0:23) Hotels (18:09) P...

In a week full of bad news, there were some positive signs for the CRE market that shone through… and there’s also pickleball. In this week’s episode, we dive into the swath of economic data to digest including inflation, earnings, and stock moves. We cover retail trading alerts, multifamily news and cap rates, and office transactions and leases to watch in Manhattan. Episode Notes: Economic data...