The TreppWire Podcast: A Commercial Real Estate Show

In this week’s episode, we dive into what the CPI and PPI numbers mean for the market and cover recent bank, retail, and airline earnings. In a segment called “brokers start your engines,” we examine the latest office sales. We then take a walk down memory lane, reporting on new data for properties we’ve been watching over the years. Finally, we give a teaser for our multifamily net operating inco...

In this week’s episode, Andrew Jacobs shares a CMBS market update, highlighting special servicing rates, recent loan losses, and issuance numbers. Then, we discuss operators shedding retail assets, industrial interest, and office occupancy news. We close with an update on the increased demand in the single-family rental market. Stick around to hear the team talk MLB and Masters opening day, and Ti...

Matt Anderson, Managing Director at Trepp, joins the team in this week's episode to talk all things inflation, interest rates, and investment returns. We also discuss the possible yield curve inversion, preliminary bank CRE loan and CMBS delinquency numbers, and stories in the office and lodging sectors. Stick around to hear our coverage of the percentage of bank loans that are on the watchlist. E...

In this week’s episode, the team tries to make sense of rising interest rates, cap rates, and liquidity. Diving into the CRE property types, we discuss hotel comps, retail store closures, and multifamily transactions. We also review a shopping mall Trading Alert that serves as an example of a CMBS "waterfall." Episode Notes: What's behind the Treasury moves? (0:50) Market impact on borrowers and t...

The markets have had a lot to react to this week, but most of the focus was on digesting the Fed announcement. In this episode, we reflect on the news and how it can impact real estate and then cover the state of the CRE lending market. We also dive into mixed headlines (or greens) for the office, retail, and multifamily markets. Stick around to hear our March Madness picks. Episode Notes: • Marke...

In this week’s episode, we examine the latest economic news including the jobs report, potential interest rate hikes, and oil prices. Then, we discuss the impact of inflation on consumer behavior and CRE. We also review property comps across office, retail, and hotels and give an update on how CMBS loans have performed pre-and post-risk retention Episode Notes: • Interest rate hikes and uncertaint...

In this week’s episode, we reflect on the CMBS market, starting with the news that two commercial mortgage bonds were put on hold amid market weakness. Then, we talk about new issue pricing and the latest delinquency rates across the property types. We also highlight the top headlines in the retail, industrial, and office CRE sectors. Episode Notes: • Takeaways from lack of market panic (0:23) • M...

In a special European edition of The TreppWire Podcast, Andrew Jacobs, Head of Structured Finance speaks to Vivek-Anand Dattani, Global Head of Structured Sales, and Andrew McClymont, Structured Finance Analyst, about the state of the European markets. We dive into what is happening amid the war in Eastern Europe and examine the data and headlines in the CRE, CMBS, and CLO markets at the end of 20...

This week, we reflect on the sobering news out of Eastern Europe, noting the world’s reaction and that it has yet to impact the commercial real estate market in terms of lending and spreads. In this week’s episode, we talk about the state of CRE, dive into some retail earnings, and then turn to student housing, mall, and RV park news. We close with an overview of the appeal of defeasances. Episode...

In this week’s episode, we cover record-breaking deals across multiple commercial real estate property types, many of which offer new benchmarks. We look at the industrial sector, noting several transactions and trends from bank CRE data. Then, we turn to the Fed’s latest stress testing scenarios, offer musings from the MBA conference, and dive into hotel and Airbnb earnings. Episode Notes: Inflat...

Inflation is the big focus right now, so how likely is it that CRE businesses absorb higher costs vs. passing them on? In this week’s episode, we talk about the inflation number and what it means for CRE, then we dive into Super Bowl hotel headwinds, a Houston office opportunity, and news for the beleaguered American Dream Mall. We also run through the hotel stories, office movies, and multifamily...

In this week's episode, we review recent CMBS and bank CRE loan performance, examining delinquencies across property types. Then, in the latest CRE news, we discuss positive and negative office stories in Houston, Omaha, and St. Louis, dive into mall REIT, PREIT's sales and several other mall stories, and discuss some long-term viability news for the San Francisco market. Episode Notes: Market act...

In a special guest episode, we welcome Lauren Thomas, CNBC Retail and Real Estate Reporter to give the retail rundown, sharing the latest news in retail real estate. Lauren dives into her breaking Peloton production news, gives an update on the state of Kohl’s, Amazon, and other department stores, and shares predictions for first-quarter retail earnings. Episode Notes: Background (0:23) Peloton ne...

The markets have been on a wild ride as investors digested news this week, but how does the volatility impact CRE? In this week’s episode of The TreppWire Podcast, we dive into what matters for CRE and CMBS participants. Then, we discuss several big stories: large retail loan defeasances which represent a positive sign for CMBS investors, new hotel issuance, and our distressed hotel analysis. We c...

In this week’s episode, Pasquale Cardone II, founder of PC2 Capital joins the team to discuss the risk and reward of debt vs. equity in the commercial real estate space... given what we have seen with market, business cycle, and asset type risk. We dive into REIT equity vs. CMBS credit, predictions for interest rates and property types, contrarian market views, and property sector divergence. Epis...

For the last few days, while attending the CREFC conference, Manus commented that the prevailing sentiment for 2022 is that the year will look like 2021... but also noted similarities to 2005. So the question is, how likely is it that? In this week’s episode, we go back and forth on this sentiment and highlight takeaways from the conference. Then, we dive into some unpleasant surprises in CRE and...

Trepp reported that for the first time in 18 months, the CMBS delinquency rate increased, which is largely attributed to several new and significant office loans going delinquent. In this week’s episode, we dive into the rare uptick, highlight several important office stories, review the Fed minutes, and examine recent store closures for Macy’s, Bed Bath & Beyond, and the like. Episode Notes: Fed...

This year, we’ve covered the changes in the commercial real estate and macroeconomic markets as the world tried to recover from the coronavirus pandemic. In this week’s episode, we take a crystal ball approach, sharing our predictions for the economy and society in 2022 and then for each of the major CRE property types. Happy New Year to all our listeners! Episode Notes: • Macro predictions and st...

In this week’s episode, Lonnie Hendry joins to discuss scary parallels in the retail and office sectors and to share an update on some alternative real estate asset classes. We also dive into mall comps, a parade of good news for hotels, and discuss holiday parties in the Metaverse... Happy Holidays to all! Omicron news and market update (0:24) Parallels between retail and office (6:23) Latest off...

In this week’s episode, we look at some of the most talked-about commercial real estate sectors throughout the pandemic: retail, office, and lodging. We dive into the latest macro news impacting these sectors and then turn to some key CMBS and CRE headlines to note. We also ask listeners to send us their predictions for the markets and CRE in 2022 for an upcoming episode. Send us your thoughts to...

In this week’s episode, we look at the hospitality transaction market which has been busy recently, with the sales providing insight into post-COVID valuations. Then, we turn to the office sector where we see signs of occupancy rebounding and highlight several important Trading Alerts. Lastly, we share some positive and negative retail news and dive into our latest property value analysis. Episode...

In this week’s episode, we discuss significant market swings and what is driving the rebound. Our theme this week revolves around several large cures in the hotel market. We also note some major office headlines and explain what is going on in the metaverse... In CMBS, we break down the latest delinquency numbers and dive into the issuance number which sets a post-GFC record. Listen here. Episode...

As Thanksgiving, Black Friday, and the holiday season approach The TreppWire Podcast team thought it was time to dive into the retail market. In this week’s episode, we analyze what is weighing on the economic markets right now, then we turn to our “Black Friday” special where we review retail earnings, worries, and CMBS Trading Alerts. We highlight a few other interesting stories for multifamily...

For every negative headline this week there seemed to be a positive. In this week’s episode of The TreppWire Podcast, we dive into the green shoots and crabgrass focusing on trends in retail earnings, an update on the retail-heavy CMBX indices, and positive signs for the office market. We also review the increased demand in the single-family rental market. Episode Notes: • Economic news (0:20) • M...

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 nex...