The TreppWire Podcast: A Commercial Real Estate Show

More than half of the states are now moving toward a reopening, but we’re still dealing with news of increased infections and economic data that tells us we have a long way to go toward a recovery. Jobless claims fell slightly to 3.2 million last week and the markets reacted positively to that slight decline. In all, more than 33 million are out of work and with lockdowns lifted, all eyes in the C...

This week, we discuss the rise in CRE delinquencies and the new way to interpret the numbers, what the smart money is looking at, the ongoing challenges in lodging, and signs of life in the corporate loan market, among many other things. Episode Notes: The scorecard for the CMBS and CRE industries (0:58) A look at REIT earnings (6:20) The rise in CMBS delinquencies (11:59) What the smart money is...

Most CRE landlords who missed their April 1st payments have a 30 day grace period, but our preliminary data shows that 11%+ of CMBS loans will be 30 days delinquent when that grace period elapses, which would surpass the highest level hit during the Great Recession. We discuss the effect of oil prices on the broader market, the coming wave of distressed assets, forbearance requests, the week in re...

We discuss the sharp increase in non-payment on hotel and retail loans, the discouraging macroeconomic data, takeaways from bank earnings reports, downgrade risk in CLOs, and what we're doing to keep our sanity. Episode Notes: The discouraging economic data (00:52) Takeaways from bank earnings reports (02:23) The sharp increase in non-payment on hotel and retail loans (07:20) How are CMBS servicer...

In this week's episode, Manus Clancy, Senior Managing Director at Trepp, and Joe McBride, Head of CRE Finance at Trepp, discuss their predictions for the economic recovery, potential concerns in the CMBS market, the impact of COVID-19 on student and senior housing, CLO prices in the oil and gas sector, and everything else newsworthy from the week. Episode Notes: Predictions for the economic recove...

In this week's episode, Manus Clancy, Senior Managing Director at Trepp, and Joe McBride, Head of CRE Finance at Trepp, discuss the challenges of forecasting retail and lodging performance, the "Big Short" against CMBX 6, hidden risks in CRE, and everything else newsworthy from the last week. Episode Notes: How is the stimulus bill going to move the market? (0:38) How is all of this affecting the...

In this week's episode, Manus Clancy, Senior Managing Director at Trepp, and Joe McBride, Head of CRE Finance at Trepp, discuss the impact of COVID-19 on different aspects of the CRE, CMBS and CLO markets. Episode Notes: The Big Picture: What’s at Stake in CRE? (0:41) The Impact of COVID-19 on Hotels (4:49) The COVID-19 crisis compared to the 2008 financial crisis (9:53) What’s going on in the wor...