Stay ConnectedLeveraging Trepp’s market expertise and proprietary data sets, The TreppWire Podcast enables listeners to stay up-to-date on all things commercial real estate, structured finance and banking.
Featuring Trepp subject matter experts and guests from across the industry, the weekly podcast explores how recent events have impacted both the markets and the daily lives of market participants.
Questions or comments? Please contact us at podcast@trepp.com.
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In a special guest episode, the team is joined by Matthew Frazier, CEO of Jones Street Investment Partners to discuss all things multifamily. Matt gives us a boots on the ground view of the narrative in the multifamily market, what has changed in the last 18 months, and shares where the opportunities lie. Tune in now. Episode Notes - Background (0:49) - Multifamily contrarian? A focus on the Northeast market (2:40) - Shift in multifamily over the last two years (5:28) - Will work-from-home impact multifamily? (6:19) - Flip in interest rates and rent growth (7:23) - Playing offense or defense in this market? (10:14) - What made another market attractive? (12:03) - Indicators of relative value (13:38) - The Gulf: What buyers want to pay, what sellers want to get (16:29) - Multifamily maturities (18:23) - Commercial real estate pressure points (20:20) - Where the opportunities lie in CRE (21:47) - Insurance costs (23:40) - Benefits of vertical integration (25:32) - Strength of Boston (27:45) Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC
In this week’s episode of The TreppWire Podcast, we examine the market U-turn that the industry watched as treasury yields and risk spreads tumbled. We dive into new deals, our CMBS delinquency report and a large industrial loan that caused a spike in that rate, REIT earnings and some optimism from mall CEOs, and more pain for the Bay Area office market. Tune in now. This episode is sponsored by Spinoso Real Estate Group: https://spinosoreg.com/mall-investment-opportunity-and-operating-platform?utm_source=TreppWire&utm_medium=TreppWire+Digital+Content&utm_campaign=TreppWire+Oct+Nov+2023+Sponsorship Episode Notes: • Economic update: Fed decision, spreads & rates (0:23) • CRE deals announced (11:22) • CMBS delinquency report (14:50) • REIT earnings and mall CEOs (21:31) • Retail stories (28:47) • Office news (31:30) • Industrial story (41:28) • Shoutouts (43:12) Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC
In this week’s episode, we break down the recent economic news including GDP, budget deficit, and stock moves ahead of the Fed's interest rate decision next week. In CRE, we find some silver linings from mall and hotel loan issuance. Then, we have green shoots and crab grass for office, hotels, and industrial. Tune in now. This episode is sponsored by Spinoso Real Estate Group: https://spinosoreg.com/mall-investment-opportunity-and-operating-platform?utm_source=TreppWire&utm_medium=TreppWire+Digital+Content&utm_campaign=TreppWire+Oct+Nov+2023+Sponsorship Episode Notes: • Economic update (0:23) • CRE deals (9:48) • Office green shoots (14:07) • Office crab grass (17:07) • Retail headlines (26:43) • Hotels news (30:32) • Student housing green shoot (35:53) • Industrial (36:33) • Shoutouts (39:25) Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC
In this week’s episode, after analyzing the continued market volatility, we dig into some commercial real estate lending comps and the data behind the loans. We have a lot of news in office and retail – forming a dichotomy, sharing several green shoots for malls and even more crabgrass for the office sector. We break down stories about WeWork, value reductions, new leases, and close with a big multifamily headline. Tune in now. This episode is sponsored by Spinoso Real Estate Group: https://spinosoreg.com/mall-investment-opportunity-and-operating-platform?utm_source=TreppWire&utm_medium=TreppWire+Digital+Content&utm_campaign=TreppWire+Oct+Nov+2023+Sponsorship Episode Notes: • Economic update (0:23) • Lending comps: rates and data (9:25) • Retail crabgrass (17:45) • Retail green shoots (26:45) • Office crab grass (31:48) • Value reductions (40:00) • Leases (47:03) • Multifamily loan value slashed (52:08) • Shoutouts (54:15) Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC
There was a lot of economic data this week with CPI, PPI, Fed minutes, and earnings season beginning. But after last weekend’s carnage in Israel, we pause to balance the data and headlines amid the horror. In this week’s episode of The TreppWire Podcast, we also break down comps for office, hotels, multifamily properties, and industrial buildings. Tune in now. Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Episode Notes: • Economic update and the war in the Middle East (0:23) • Loan payoffs hit 20-month low (9:45) • Banking sector news (13:59) • Valuations in the market (17:40) • Office green shoots and crab grass (21:58) • Industrial comps (30:43) • Hotel headlines (33:41) • Multifamily comps (37:53) • Shoutouts (45:30) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC
In this week’s episode, we discuss rising rates, a jump in risk premiums, and several painful comps in the commercial real estate market. The Trepp team searches for silver linings in a tough CRE market, we share positive retail stories, a lot of green shoots and crab grass for office, multifamily comps galore, and an industrial story to note. We also talk about NYC rent control and the retail apocalypse version in the office market. Tune in now. Episode Notes: • Economic update: stagflation, jobs, rates (0:23) • NYC rent control discussion (3:27) • Risk in the market (5:25) • Banks' unrealized losses (8:00) • Positive news for the retail market (10:24) • Office green shoots (21:18) • Office crabgrass (28:35) • The retail apocalypse of the office market (32:48) • Multifamily news and comps (39:28) • Industrial story (45:10) • Shoutouts (47:55) Questions or comments? Contact us at podcast@trepp.com. Please take our listener feedback survey: https://www.surveymonkey.com/r/BMPXLHG Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC
This week, rising Treasuries, oil prices, and cooler-than-expected economic data left nowhere for investors to hide. In this week’s episode of The TreppWire Podcast, we discuss the latest economic news, Jamie Dimon’s comments about a 7% Fed Funds rate, and break down the increase in delinquencies in both the CMBS and bank CRE loan markets. We also share several office and retail stories we tracked this week. Tune in now. Episode Notes: • Economic update (0:23) • CMBS delinquencies ( • Bank loan delinquencies ( • Retail (37:46) • Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC
In a special guest episode of The TreppWire Podcast, we are joined by the pioneer of commercial real estate finance, Ethan Penner. Mr. Penner, known as the creator and 'father' of CMBS back in the 1990s, breaks down the lessons he learned through his life in CRE. We discuss the S&L crisis, guard rails for new market entrants, the cause of the Great Financial Crisis, how CMBS got started, and Ethan's new book. We also get to hear a bit about his famous rock 'n' roll parties. Tune in now. This episode is sponsored by The Henley Group: https://www.thehenleygroup.com/ Order Ethan Penner's book, "Greatness is a Choice," for pre-sale now: https://www.amazon.com/Greatness-Choice-Ethan-Penner/dp/1394185758 Episode Notes: - The story behind "Greatness is a Choice" (1:50) - How the 'father' of CMBS got his start (4:50) - The Savings & Loan Crisis (8:57) - Ethan Penner's creation of CMBS (9:25) - The Nomura moment: convincing a frightened market (13:27) - The intersection of life and work (16:08) - Guard rails for new CRE market entrants (17:07) - Today's market: what is a disrupter? (25:45) - The cause of the Great Financial Crisis (32:25) - Walking the walk (38:37) - "Slaying the Dragon" and Ethan's family reaction to his new book (40:30) - The rock 'n' roll banker (42:55) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC
In this week’s episode of The TreppWire Podcast, we break down the post-Fed decision discussion – with the focus on the Dot Plot and the 'higher for longer' narrative. In CRE, we take on the hot (but not hot enough) topic of insurance, discuss a REIT bankruptcy filing, share office crabgrass, and more multifamily comps with interesting cap rates. Tune in now. Episode Notes: - Post-Fed decision discussion: Dot Plot, higher for longer (0:23) - Signature Bank CRE portfolio (8:12) - Insurance expenses (11:37) - Office (mostly) crabgrass (16:30) - Retail (32:23) - Multifamily comps (39:43) - Shoutouts (42:24) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC
In a special guest episode, we welcome Twitter CRE sensation, StripMallGuy. After a successful career as a value-add retail buyer, StripMallGuy added the title of influencer to the resume. Here, we discuss the ins and outs of strip malls, how to balance social media and the day job, breaking into the industry, and more. Tune in now. The episode is sponsored by The Henley Group: https://www.thehenleygroup.com/ Episode Notes - Behind StripMallGuy (0:23) - Why strip malls? (5:05) - Adjusting to tighter credit conditions and a resilient consumer (6:15) - Balancing social media and the job (8:50) - Position as a value-add buyer (13:26) - "We don't 1031, we don't cost seg, we don't finance on the front-end of the deal..." (16:51) - The no-nos: Chick-fil-A, dry cleaners, & karate (21:07) - Mom & pop vs. national tenants (23:59) - Rookie mistakes (28:13) - Negotiating: LOI vs. signed contracts (32:09) - StripMallGuy's 'Black Swan' Event (36:07) - Converting mom and pop to triple net lease structure (38:54) - What would StripMallGuy be doing if not in CRE? (41:56) - Best thing about NYC (42:25) - HOAs (43:38) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC
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