The TreppWire Podcast: A Commercial Real Estate Show
Episodes
87. CRE's Good, Bad, & Unknown: Mid-Year Property Type Review, CREFC Confidential
18 Jun 2021
Contributed by Lukas
Trepp just wrapped up our mid-year analysis (aptly called The Mid-Year Magazine) that will be published next week with Commercial Real Estate Direct. ...
86. Must-Know Office and Retail News, Banking Regulatory Shift, CECL Update
11 Jun 2021
Contributed by Lukas
In this week’s episode, we welcome Mike Benz, Trepp’s Senior Vice President and Head of US Banking Solutions to discuss the regulatory shift in th...
85. Hotels Rebounding, Office and Multifamily Occupancy, The Donut Effect
05 Jun 2021
Contributed by Lukas
In this week’s episode, we cover the latest CMBS delinquency report and what it means for the market as the rates descend from their mid-pandemic hi...
84. We’re Back: Hotels, Retail, & Office Turning the Corner; Positive News This Week
29 May 2021
Contributed by Lukas
During the latest Senate hearing, Jamie Dimon acknowledged there is a housing bubble, but not like the previous one. In this week’s episode, we disc...
83. Managing Real Estate Risk with Dr. Eva Steiner, Penn State Smeal College of Business
25 May 2021
Contributed by Lukas
In a special guest episode, we welcome Dr. Eva Steiner, Associate Professor of Real Estate at the Penn State Smeal College of Business to discuss mana...
82. Movie Theaters, Shopping Malls, and More Office Moves
20 May 2021
Contributed by Lukas
This week, AT&T announced it will spin off WarnerMedia which is the latest installment in the streaming war news... and there is some real impact that...
81. Liquidity in Commercial Real Estate with Jim Shevlin, CWCapital and RealINSIGHT
18 May 2021
Contributed by Lukas
In this guest episode, Jim Shevlin, President and COO at CWCapital and RealINSIGHT joins the team to have a conversation about liquidity in the commer...
80. A Grab Bag of Retail and Office Headlines, Inflation Confirmation
12 May 2021
Contributed by Lukas
In this week’s episode, we discuss the latest data that confirms inflation is a real issue. But, is it a short-term reopen shock? We also spend some...
79. End of 1031 Exchange?, REIT Earnings, Retail Rundown, Delinquency Report
07 May 2021
Contributed by Lukas
In this week’s episode, Manus and Joe run through the highs and lows of the week, and the things that keep them up at night. We review a single-asse...
78. Homeless Hotels, Tech Titans’ Office Demand, Retail Trend Reversal
30 Apr 2021
Contributed by Lukas
In this week’s episode, we dive into the latest positive signs for street-level retail following the announcement that all business restrictions in ...
77. Check-In on COVID Delinquencies, End of Retail Apocalypse?, Office Vacancies, Student Housing
23 Apr 2021
Contributed by Lukas
With servicer data slowly showing signs of how the pandemic impacted commercial real estate, it is time to look at last year's delinquencies and wheth...
76. Good, Bad, & Ugly Office News, Solid Bank Earnings, Retail Property Sales
17 Apr 2021
Contributed by Lukas
In this week’s episode, we dig into the recovery that the latest Fed economic survey found is “broad-based across industries” and highlight soli...
75. Hotel & Multifamily Distress Across the U.S., Spike in CRE CLO Demand, Retail Round-Up
09 Apr 2021
Contributed by Lukas
In this week’s episode, Trepp’s Head of CMBS, Darren King joins us to analyze the spike in demand for commercial real estate CLOs in Q1 2021. We t...
74. Global Investing in Commercial Real Estate with David Bitner, Cushman & Wakefield
05 Apr 2021
Contributed by Lukas
In a special guest episode, we welcome David Bitner, Global Head of Capital Markets Insights at Cushman & Wakefield to discuss the firm’s latest Sig...
73. Fresh Bank CRE Loan & CMBS Delinquency Data, Falling Multifamily Occupancy, Hotel & Sports
02 Apr 2021
Contributed by Lukas
In this week's episode, the team examines new economic data which shows choppy progress. We dive into CMBS delinquency rates and give listeners a snea...
72. Distressed Logjam Loosens, Hotel Deals in the Market, One Year of Podcasts
25 Mar 2021
Contributed by Lukas
In the CRE space, investors have been waiting for distressed asset sales and it seems that hotel opportunities are now on the rise. In this week’s e...
71. Green Shoots & Crabgrass in CRE, Property Valuation News, The State of CMBX 6
19 Mar 2021
Contributed by Lukas
In this week's episode, we discuss positive and negative signs (or green shoots and crabgrass as we like to call it) in the latest commercial real est...
70. Road to Recovery for the Distressed Debt Market with Donald Sheets, Broadshore Capital Partners
17 Mar 2021
Contributed by Lukas
In a special guest episode, Donald Sheets, Managing Director and Member of the Management Committee at Broadshore Capital Partners is back to give us ...
69. COVID-19's One Year Check-Up: Biggest Surprises in the CRE Market & Overall
11 Mar 2021
Contributed by Lukas
In this week’s episode, the team is back together as we give our one-year reflections on the coronavirus pandemic by highlighting the biggest surpri...
68. Delinquency Drops, Return to the Office, Performance of CRE CLOs, Texas CRE Snapshot
05 Mar 2021
Contributed by Lukas
In this week’s episode, we analyze the recent drops in the delinquency rate, especially for hotels and retail, and what it means for the market. We ...
67. The Resiliency of REITs, Performance and Outlook with John Worth of Nareit
02 Mar 2021
Contributed by Lukas
In a special guest episode, we welcome John Worth, Executive Vice President of Research and Investor Outreach at Nareit, the voice for REITs and publi...
66. Early Look at NOI Changes, Hidden Delinquency Rate, New Appraisals, Co-Tenancy Clauses
26 Feb 2021
Contributed by Lukas
In this week’s episode, Lonnie Hendry is back as we review the latest market news. We give an early look at changes in revenue and net operating inc...
65. Falling Retail Property Values, Office Cuts, 2021 Stress Test Scenarios, Credit Enhancement 101
20 Feb 2021
Contributed by Lukas
In this week’s episode, we look at the latest headlines fanning the flames of concerns over inflation. We also discuss even more companies shedding ...
64. Sublets, Shopping Malls, Slot Machines, and CMBS Deal Pricing 101
13 Feb 2021
Contributed by Lukas
In this week’s episode, we look at the latest mix of bad and good news for the commercial real estate property types. We walk through this week’s ...
63. Policies & Predictions: Forecast for CRE Finance with Jamie Woodwell and Mike Flood from MBA
10 Feb 2021
Contributed by Lukas
The Mortgage Bankers Association recently hosted the CREF21 virtual conference and released their Quarterly Survey of Commercial/Multifamily Mortgage ...
62. The Delinquency Digest, Eviction Moratorium Rundown, UK CRE News, Notable Leases & Sales
06 Feb 2021
Contributed by Lukas
In this week’s episode, we welcome Trepp’s Head of EMEA & APAC, and Chair of the MERG, Vivek-Anand Dattani to give a rundown of what is happening ...
61. Follow the Feet: Tracking CRE Performance Using Consumer Behavior ft Ethan Chernofsky, Placer.ai
02 Feb 2021
Contributed by Lukas
In a special episode, we welcome Ethan Chernofsky, VP of Marketing at Placer.ai, a firm that uses cellphone data to track consumer behavior. We discus...
60. The Short Squeeze Frenzy, Conversion of Malls, Loans to Watch Across Property Sectors
27 Jan 2021
Contributed by Lukas
In this week’s episode, we break down the short squeeze surge that made headlines this week and why it matters to the commercial real estate market....
59. Vaccines and Vacancy, Cracks in Multifamily, Q4 Bank Earnings, Wave of Hotel Bankruptcies
22 Jan 2021
Contributed by Lukas
In this week’s episode, we break down what the new policies from the Biden administration could mean for CRE and finance and specifically discuss th...
58. The 2021 CRE Outlook with Deloitte Real Estate’s Kathy Feucht and John D’Angelo
18 Jan 2021
Contributed by Lukas
Deloitte recently published its 2021 commercial real estate outlook, outlining opportunities for CRE practitioners to respond, recover and thrive duri...
57. Distressed Property Valuations, Major Metro Office Headlines, Corporate Transparency for CRE
14 Jan 2021
Contributed by Lukas
In this week’s episode, Trepp’s Head of Advisory Services, Lonnie Hendry, gives an overview of property valuations and the use of multipliers as a...
56. A Look at Travel and Hospitality News, More Retail Closures, What’s to Come for 2021
08 Jan 2021
Contributed by Lukas
In this week's episode, the team reviews the impact (or lack thereof) of the Capitol news on financial markets. We also discuss the latest December CM...
55. Trepp Year-in-Review 2020: Biggest CRE Surprises, Performance by Property Type, CMBS Trends
29 Dec 2020
Contributed by Lukas
In this week's episode, we take stock of everything that happened in the CRE and CMBS markets in 2020. The CRE market has withstood one of the most im...
54. Analyzing CRE Property Valuations, Q3 Bank Loan Performance, Fresh CMBS Delinquency Data
23 Dec 2020
Contributed by Lukas
The $900 billion dollar relief bill includes targeted relief for commercial real estate. What does it look like? In this week's episode, we examine th...
53. Leveraging CRE Tech during the COVID-19 Crisis with Michael Mandel from CompStak
22 Dec 2020
Contributed by Lukas
We welcome Michael Mandel, Co-Founder and CEO of CompStak, a nationwide provider of crowdsourced commercial real estate lease and sales comp data. We ...
52. Digging into Mall Loan Losses, Retail Loan Modifications, Falling RevPAR
17 Dec 2020
Contributed by Lukas
In this week's episodet, we dig into mall loan losses, a noteworthy CMBX retail loan modification, recent retail bankruptcies, multifamily occupancy r...
51. Key CRE Trends from a Broker’s Perspective with Michael Bull, America’s CRE Show & Bull Realty
15 Dec 2020
Contributed by Lukas
In a special episode, we welcome Michael Bull, Founder and CEO of Bull Realty and the host of America's Commercial Real Estate Show. We discuss key CR...
50. A Global Inflection Point, Special Servicing Rates Decline, Changes in Corporate/Consumer Habits
10 Dec 2020
Contributed by Lukas
The sense is that we’re at a global inflection point, with the economy dependent on how fast a vaccine can be fully approved and distributed. In thi...
49. Falling Occupancy Rates, Bank CRE Loan Delinquencies, Demand for Office Space
03 Dec 2020
Contributed by Lukas
Last week we talked about falling occupancy rates in the multifamily housing market. In this week's episode, we take a deeper dive into this potential...
48. An Early Look at November Delinquency Rates, Options for Distressed Hoteliers, the Urban Exodus
25 Nov 2020
Contributed by Lukas
With 90% of reporting now complete for the month of November, what do the latest delinquency numbers look like? In this week's episode, we dig into th...
47. CRE Investing & Servicing with Adam Behlman, President of Real Estate at Starwood Property Trust
24 Nov 2020
Contributed by Lukas
In a special episode, we welcome Adam Behlman, President of Real Estate Investing & Servicing at Starwood Property Trust, the largest commercial mortg...
46. Hotel Sector in Dire Straits, Warehouse Loan Hedging 101, Early Indicators of Bank Failure Risk
19 Nov 2020
Contributed by Lukas
What’s next for the struggling hotel sector? In this week's episode, we analyze the flurry of bad news for hotels, which make up the third-largest p...
45. Property Performance Predictions in a Post-Vaccine World
12 Nov 2020
Contributed by Lukas
A widely available vaccine will change the game for commercial real estate, which has of course been hit hard this year. In this week's episode, we of...
44. Potential Regulatory Changes Post-Election, Risk Retention 101, Notable Q3 CRE Data
05 Nov 2020
Contributed by Lukas
With the pressure of the flash recession and a new presidential agenda likely, we may see renewed emphasis on surveillance and risk management for lar...
43. CRE Investment Insights with Dr. David Hartzell & Caroline O’Neill, UNC Kenan-Flagler PE Fund
03 Nov 2020
Contributed by Lukas
The University of North Carolina Kenan-Flagler private equity fund was the first student-run real estate fund whose mission was to invest outside capi...
42. The Outlook for the Distressed Debt Market, Retail Valuations, Recent CMBS Pricing Levels
29 Oct 2020
Contributed by Lukas
In this week's episode, we analyze the outlook for the distressed asset market, recent pricing levels, retail valuations, the concept of a “loss wai...
41. Borrowers Giving Back the Keys to Their Properties in Droves, 6 Month Corporate CLO Credit Cycle
22 Oct 2020
Contributed by Lukas
Our loyal listeners may recall that we recently discussed creating a list of CMBS loans for which the borrower has indicated a willingness to return t...
40. The Impact of COVID-19 from a Rating Agency’s Perspective with Eric Thompson from KBRA
20 Oct 2020
Contributed by Lukas
In a special episode, we welcome Eric Thompson, Global Head of Structured Finance at Kroll Bond Rating Agency and Chair-Elect of the CRE Finance Counc...
39. Retail Property Valuations, The Big Takeaways from Q3 Bank Earnings, Shadow Delinquencies
15 Oct 2020
Contributed by Lukas
The big bank Q3 earning reports this week show us that banks with a higher concentration in the capital markets may be weathering the storm better tha...
38. Key CRE Metrics for Assessing the Recovery with KC Conway, Chief Economist at CCIM
13 Oct 2020
Contributed by Lukas
We welcome KC Conway, Chief Economist at CCIM, to discuss his predictions for the market, key CRE metrics for assessing the recovery, the convergence ...
37. The Recession-Resistant Self-Storage Sector, Loan Payoff Report, Retail & Lodging Performance
08 Oct 2020
Contributed by Lukas
Amid the disruption caused by the coronavirus pandemic, there have been a number of trends that have directly impacted demand in the self-storage sect...
36. CECL 101, Recent CRE Valuations, The Declining CMBS Delinquency Rate
01 Oct 2020
Contributed by Lukas
Certain provisions of the CARES Act provided community banks a delay in the implementation of CECL (current expected credit losses). In this week's ep...
35. Performance of CRE Bank Loans vs CMBS Loans, A Look at Occupancy Rates, The Regulatory Roundup
24 Sep 2020
Contributed by Lukas
Since the beginning of the pandemic, reported occupancy rates have remained healthy in the office and multifamily property sectors. However, there are...
34. Takeaways from Mid-Month CMBS Delinquency Report, A Mixed Bag of Office News, Loan Deferrals 101
17 Sep 2020
Contributed by Lukas
In the office market, we’re seeing the fits and starts of a physical return to work play out this week. In this episode, we discuss the mixed bag of...
33. Predictions for the Future of CRE Finance, Problems in Multifamily, a Wave of Retail News
10 Sep 2020
Contributed by Lukas
Over the last six months, we’ve covered the movements of the CRE finance sector. Looking forward, what changes could we see in the market as a resul...
32. Hotel Valuations, Increasing Focus on the Office Sector, Treasury Yield 101
02 Sep 2020
Contributed by Lukas
We discuss the CDC’s new eviction moratorium, the Financial Times story covering stress in the CRE market through the lens of a CMBS investor, the i...
31. CMBS Delinquency Rate Sees Another Big Decline, Underwritten vs Actual NOIs, Top Secondary MSAs
27 Aug 2020
Contributed by Lukas
In a normal summer, August results in lighter volume (and more volatility). Of course, this has been a summer like none other. In this week's episode,...
30. A Data-Driven Approach to Assessing Property Values with Fritz Kaegi, Cook County Assessor
26 Aug 2020
Contributed by Lukas
We welcome Fritz Kaegi, Cook County Assessor and former portfolio manager, to discuss CRE property valuations in Chicago, reforming the tax assessment...
29. Fresh CRE Delinquency Data, CMBS Loan Modifications 101, the Flurry of Hotel and Retail News
20 Aug 2020
Contributed by Lukas
We examine August CMBS remittance data and what the early delinquency numbers are telling us about the state of the recovery. We dig into big box reta...
28. The Economic Impact of COVID-19 on CRE with Ryan Severino, Chief Economist at JLL
18 Aug 2020
Contributed by Lukas
We welcome Ryan Severino, Chief Economist at JLL, to discuss government stimulus, potential demographic and systemic changes, “pre-existing conditio...
27. Analyzing Underwritten NOIs, Updates on the Lodging and Retail Sectors, Appraisal Reductions
13 Aug 2020
Contributed by Lukas
Five months into the pandemic, the lodging and retail sectors have been battered. In this week's episode of The TreppWire Podcast, we break down recen...
26. The Big Takeaways from REIT Earnings Season
06 Aug 2020
Contributed by Lukas
We welcome Orest Mandzy, Managing Editor of CRE Direct News, to share the big takeaways from REIT earnings season. With Orest’s REIT expertise, we d...
25. Deep Dive into HOPE Act & 1031 Exchange, Shadow Vacancy Rates, Big Drop in CMBS Delinquencies
30 Jul 2020
Contributed by Lukas
We welcome Lonnie Hendry, Head of Advisory Services at Trepp, for a deep dive into the HOPE Act and the potential impacts of eliminating the 1031 Exch...
24. The State of the Distressed CRE Debt Market with Donald Sheets from Broadshore Capital Partners
28 Jul 2020
Contributed by Lukas
We welcome Donald Sheets, Managing Director at Broadshore Capital Partners to break down the current state of the CRE debt market. In a wide-ranging c...
23. Signs of Progress and Peril in the US and European CRE and CLO Markets
23 Jul 2020
Contributed by Lukas
We welcome Vivek-Anand Dattani, VP of Commercial Operations from Trepp’s London office, to examine signs of progress and peril in the US and Europea...
22. Improving CMBS Delinquency Rates, Noteworthy CRE Stories, Shifting Trends in Office
16 Jul 2020
Contributed by Lukas
We’re only mid-way into July, but early indications are that delinquency rates are improving. In this week’s episode of The TreppWire Podcast, we ...
21. Legal & Regulatory Challenges in CRE with Rick Jones, Finance & Real Estate Partner, Dechert LLP
14 Jul 2020
Contributed by Lukas
We welcome Rick Jones, Partner and Co-Chair of Dechert’s finance and real estate practice. Under his leadership, the 150 attorney practice focuses o...
20. The Impacts of COVID-19 at the Mid-Year: Fleeting Eclipse or A New Dark Age?
09 Jul 2020
Contributed by Lukas
We are officially past the half year mark, which means the release of our bi-annual report in collaboration with CRE Direct. In this week’s episode ...
19. CMBS Delinquency Rate Nears All-Time High, Hotel Debt Relief, Takeaways from Bank Stress Tests
01 Jul 2020
Contributed by Lukas
At one point during the month of June, it appeared that a new all-time high for CMBS delinquencies would be reached. The final numbers posted at the e...
18. Surprises in MSA Delinquencies, Congressional Request for CMBS Borrower Relief, “Problem Banks”
25 Jun 2020
Contributed by Lukas
The economic recovery: A glass half full or half empty? We examine the congressional request for CMBS borrower relief, delinquency rates by MSA, retai...
17. The Future of CRE with Brian Stoffers, Global President at CBRE and MBA Chairman
23 Jun 2020
Contributed by Lukas
We welcome Brian Stoffers, Global President of Debt and Structured Finance at CBRE and 2020 Chairman of the Mortgage Bankers Association (MBA). In a w...
16. Signs of Stress in Corporate CLO Market, Record-Breaking CMBS Delinquencies, Exodus from Cities
18 Jun 2020
Contributed by Lukas
We welcome Andrew Jacobs, Head of Structured Finance at Trepp, to examine signs of stress in the corporate CLO market. We also discuss the potential r...
15. What CMBS Borrowers Need to Know in COVID Times
16 Jun 2020
Contributed by Lukas
In this special episode, we welcome Tammy and David Goldfisher from The Henley Group, borrower advocates and experts in CMBS loan restructuring. With ...
14. More Bad Retail News, A Look at the CMBX 7 Index, Credit Supply Risk in Corporate CLOs
11 Jun 2020
Contributed by Lukas
The wave of bad news in the retail market, what we expect to see in June CMBS remittance data, the CMBX 7 index, credit supply risk in the corporate C...
13. The Big Short of CMBX 6 with Dan McNamara and Catie McKee from MP Securitized Credit Partners
08 Jun 2020
Contributed by Lukas
In this special episode, we welcome Principal Dan McNamara and Managing Director Catie McKee (aka the “Queen of Malls”) from MP Securitized Credit...
12. Massive Spike in CMBS Delinquencies, Loan Forbearance Expectations, Office Exposure in CMBX 12
05 Jun 2020
Contributed by Lukas
We break down the massive spike in CMBS delinquencies (the largest month-over-month increase we’ve seen since 2009), the financial performance of ma...
11. Making Sense of the Retail Market with Jan Kniffen
01 Jun 2020
Contributed by Lukas
In this special episode of The TreppWire Podcast, we welcome Jan Kniffen, CEO of J Rogers Kniffen Worldwide. As a retail consultant and a former retai...
10. Two Schools of Thought on the Future of Office, Borrower Relief Options, CRE Delinquencies
28 May 2020
Contributed by Lukas
We discuss borrower relief options, the two schools of thought on the future of office space, the newest data on CMBS delinquencies, the retail consum...
9. Digging into CMBX and Store Closures, New Performance Data on Lodging, Retail and Multifamily
21 May 2020
Contributed by Lukas
We dig into bets on the CMBX index, retail performance and store closings, the new wave of CMBS servicer data for lodging and retail, self-storage’s...
8. The Impact of COVID-19 on CRE Valuations, the Next Wave of Delinquencies, New CMBS Issuance
14 May 2020
Contributed by Lukas
We welcome Lonnie Hendry, VP of CRE Product Management at Trepp, to examine the impact of COVID-19 on CRE property valuations. We also discuss fresh s...
7. Assessing CRE Risk, The Next Steps for Hotel Loans, The Future of Retail and the Amazon Effect
07 May 2020
Contributed by Lukas
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 tel...
6. The Rise in CRE Delinquencies, What Smart Money is Looking at, Signs of Life in Corporate Loans
30 Apr 2020
Contributed by Lukas
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 challeng...
5. The Coming Wave of Distressed Assets, the Week in Retail and CMBX, More CLO Downgrades
23 Apr 2020
Contributed by Lukas
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 d...
4. Sharp Increase in Non-Payment on Hotel and Retail Loans, Bank Earnings, Downgrade Risk in CLOs
16 Apr 2020
Contributed by Lukas
We discuss the sharp increase in non-payment on hotel and retail loans, the discouraging macroeconomic data, takeaways from bank earnings reports, dow...
3. Predictions for the Economic Recovery, Potential Concerns in CMBS, A Look at Student Housing
08 Apr 2020
Contributed by Lukas
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 ...
2. Forecasting Retail and Lodging Performance, The "Big Short" against CMBX 6, Hidden Risks in CRE
01 Apr 2020
Contributed by Lukas
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 fore...
1. What Happened This Week? The Impact of COVID-19 on CRE, CMBS and CLOs
25 Mar 2020
Contributed by Lukas
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...