In this week's episode of The TreppWire Podcast, we explore economic trends, the Fed’s policy dilemma, and government impacts on real estate, including NYC rent regulation. We highlight office real estate investment opportunities, particularly how low-occupancy properties in strong MSAs could present attractive, discounted buying opportunities. We also discuss consumer sentiment, tariff concerns, and why retailers continue to expand. Additional highlights include the conversion of a class C offi...
Jun 27, 2025•55 min
With headlines shifting by the hour, we brought in two experts for a timely update on the macro landscape and its impact on commercial real estate (CRE). In this special guest episode of The TreppWire Podcast, we are joined again by Danielle DiMartino Booth, CEO & Chief Strategist at Quill Intelligence, and Dan McNamara, Founder & CIO of Polpo Capital to give a pulse check after the June Fed meeting and changing geopolitical challenges. We discuss the outlook for 2025 rate cuts, the “hig...
Jun 24, 2025•45 min
In this week's episode of The TreppWire Podcast, we examine how escalating geopolitical tensions may have overshadowed the Fed meeting, despite soft inflation data and mixed economic signals. We discuss Meta's staggering $100 million AI signing bonuses and what they signal about the AI revolution, and share highlights from Trepp's own AI hackathon. We preview office distress opportunity data, revealing there are nearly 300 properties worth more than $9 billion with sub-60% occupancy. We analyze ...
Jun 20, 2025•51 min
In this week's episode of The TreppWire Podcast, we recap CREFC’s June Conference, where optimism stood out amid market uncertainty. We analyze the latest economic data, including how the lower-than-expected CPI print might not be enough to prompt a rate cut as the job market remains healthy. We review Trepp’s May 2025 CMBS Special Servicing report, noting that the overall rate rose for the second straight month. The episode spotlights notable CRE transactions, including industrial deals from Bl...
Jun 13, 2025•48 min
In this special guest episode of The TreppWire Podcast, we are joined by John Toohig, Managing Director and Head of the Whole Loan Trading Group at Raymond James. We explore how his experience through multiple market cycles, including the great financial crisis, has shaped his perspective on risk and opportunities in today's lending landscape. John shares insights on the current state ofsecondary loan markets, regulatory impacts on bank lending, and macroeconomic trends affecting different asset...
Jun 10, 2025•31 min
In this week's episode of The TreppWire Podcast, we discuss the weak ADP jobs report and Jamie Dimon's stark warning about potential bond market cracks. We analyze the Fed's lifting of Wells Fargo's asset cap after seven years and home equity line of credit (HELOC) exposure. We discuss two significant office acquisitions including Blackstone's $850 million CMBS financing for a Manhattan tower acquisition and Tishman Speyer's first office purchase since 2019. We touch on a recent CBRE analysis on...
Jun 06, 2025•46 min
In this week's episode of The TreppWire Podcast, we discuss markets swinging on tariff threats and temporary delays. We examine the trade-offs between inflation and employment concerns and also discuss leaks of retail price increases. We analyze momentum in office-to-residential conversions with major projects in Times Square, Boston, and a former Pfizer headquarters. We also discuss a Kansas City office loan liquidation and a Westchester shopping center loan transfer to special servicing. We cl...
May 30, 2025•46 min
In this special guest episode of The TreppWire Podcast, we are joined by Sam Tenenbaum, Head of Multifamily Research at Cushman & Wakefield to dive into the current state of the commercial real estate (CRE) and multifamily markets. We unpack Sam’s perspective on national trends, take a closer look at the dynamics shaping Austin’s multifamily sector, and examine how tariffs are influencing the industrial and retail landscapes, especially in terms of supply and demand. Sam also shares valuable...
May 28, 2025•39 min
In this week's episode of The TreppWire Podcast, we examine Moody's downgrade of the US credit rating alongside mixed economic signals including hotter-than-expected PPI data and declining consumer sentiment. We analyze diverging retail performance with Walmart showing resilience while Target struggles with falling transactions, and discuss retail property stories including mall challenges and positive leasing activity. We highlight office green shoots with a major Manhattan acquisition while co...
May 23, 2025•53 min
In this special guest episode of The TreppWire Podcast we are joined by Gary Bechtel, CEO of Red Oak Capital Holdings LLC. Gary shares his journey into the commercial mortgage industry and discusses the cyclical nature of the industry. He shares what differentiates Red Oak’s approach to structuring deals compared to other private lenders, as well as the asset classes and geographic markets he sees as most attractive right now. We discuss office space conversion, multifamily trends, and the expan...
May 20, 2025•35 min
In this week's episode of The TreppWire Podcast, we unpack key insights from the recent Trepp Connect (in NYC) commercial real estate (CRE) event, sharing perspectives across property types and executive sentiment. While uncertainty remains, many participants expressed cautious optimism about the market’s direction. We break down thelatest economic developments, including inflation data, the 10 Year Treasury Yield, and market responses to tariff negotiations. We highlight the importance of upcom...
May 16, 2025•38 min
In this week's episode of The TreppWire Podcast, we navigate mixed economic signals with strong April jobsdata alongside ongoing trade tensions. We analyze the Fed's decision to hold rates steady citing inflation concerns and explore Brookfield's $5.9 billion raise for distressed properties. We examine federal intervention in the PennStation redevelopment and Boston's looming $1 billion tax bill. On the property front, we discuss a Texas multifamily loan that defaulted shortly after origination,...
May 09, 2025•51 min
In this week's episode of The TreppWire Podcast, we discuss the markets that are still on edge as investors weighed fresh inflation data, a mixed jobs report, and renewed speculation around the Fed’s next move. We share fresh CMBS delinquency data and tease distress and loss data through the eras. We discuss two Westfield mall loans – one with a value reduction and another sent to special servicing. There is positive office news with Deloitte moving its North American headquarters to Hudson Yard...
May 02, 2025•45 min
In this week's episode of The TreppWire Podcast, weunpack the mixed economic data and evolving policy rhetoric keeping markets on edge. We analyze the latest release from the Fed’s Beige Book and its implications for commercial real estate (CRE) lenders navigating an uncertain market. We cover the ongoing impact of tariffs and the International Monetary Fund's forecast, jobless claims, and the slowdown in the labor market. We lookat 2025 CMBS Issuance and Origination numbers, highlighting the pr...
Apr 25, 2025•53 min
In this special guest episode of The TreppWire Podcast , we are joined by Bo and Timmy Barron, cohosts of the Commercially Speaking Podcast, a show that breaks down commercial real estate concepts in a clear and entertaining way. Bo, a Certified Commercial Investment Member (CCIM) instructor and CEO of Barron Commercial Group, shares his journey from the Marine Corps to brokerage, while Timmy brings his background in acting and content creation to the table. We explore how their podcast has tran...
Apr 22, 2025•57 min
In this week's episode of The TreppWire Podcast, we break down the latest inflation data, analyze Federal Reserve Chair Jerome Powell’s message, and explore shifting Fed expectations while assessing what all this means for market uncertainty ahead. We unpack the consumer impact of the US-China trade war, even as retail sales exceed forecasts. In financial markets, we dive into balance sheet loan spreads from Trepp’s weekly spread survey and examine Q1 2025 bank earnings. Turning to the property ...
Apr 18, 2025•49 min
In this week's episode of The TreppWire Podcast, we dive into this week's financial market volatility, exploring the impact of tariff policy changes and economic data releases while analyzing key developments with U.S. Treasuries. Drawing on insights from Trepp's Chief Economist, we examine how tariffs may influence various property sectors and the broader commercial real estate finance markets. In our property segment, we highlight Jay Parson’s research on apartment rent growth is slowing crawl...
Apr 11, 2025•57 min
In this special guest episode of The TreppWire Podcast we're joined by Ruth Colp-Haber, President of Wharton Property Advisors and a leading tenant representation broker, for an in-depth conversation on the New York City (NYC) office leasing market. Ruth shares her perspective on what it's like to be a broker in one of the world's largest markets, offering insights into current trends and where the market stands today. We explore how hybrid work models, the return to the office, and work-from-ho...
Apr 08, 2025•30 min
In this week's episode of The TreppWire Podcast, we cover Liberation Day's tariff announcements, the impact of DOGE on unemployment from the JOLTS report, and other key economic data. We explore the ripple effects of tariffs on thecommercial real estate supply chain, with headlines like Microsoft's global data center pullback and SimonCRE’s ambitious retail expansion. We share Trepp’s March 2025 CMBS delinquency numbers ticking back up, breaking it down by property type, and discuss TPG RE Finan...
Apr 04, 2025•51 min
In this week's episode of The TreppWire Podcast , we analyze March's economic indicators showing a clear split between services and manufacturing PMIs. We examine declining consumer confidence and discuss housing market dynamics including FHFA policies and inventory trends. We explore former Governor Cuomo's pivot on rent reforms as he enters the NYC mayoral race and analyze Dollar Tree's sale of Family Dollar for a fraction of its acquisition price. We break down the Trump administration's revi...
Mar 28, 2025•53 min
In this special guest episode of The TreppWire Podcast, we celebrate our five-year podcast anniversary and Women's History Month by welcoming Annemarie DiCola, CEO of Trepp, to the show. With nearly 35 years at the company, Annemarie shares her remarkable journey from commercial real estate attorney to leading Trepp through multiple market cycles. She discusses Trepp's role in standardizing the CMBS market, supporting financial institutions during the Great Financial Crisis, and providing critic...
Mar 25, 2025•36 min
In this week's episode of The TreppWire Podcast, we dive into the key takeaways from the recent FOMC meeting, discussing the Fed's decision to hold interest rates steady and Powell's revival of the term “transitory,” along with the prevalent wait-and-see narrative. We explore the potential commercial real estate (CRE) impacts of a continued economic slowdown, especially on the retail and lodging sectors, despite February's uptick in retail sales. On the housing front, we examine challenges in th...
Mar 21, 2025•59 min
In this special guest episode of The TreppWire Podcast, we are joined by Bill Ferguson, Co-Chairman and CEO of Ferguson Partners, a global talent management firm founded 35 years ago that specializes in the real assets, hospitality and leisure sectors. Bill shares the highlights of his distinguished career in executive search and leadership consulting, discusses the evolution of the industry, and how his firm navigated various market downturns. The conversation covers the importance of following...
Mar 18, 2025•33 min
In this week's episode of The TreppWire Podcast, we analyze the economic data from the week, new CMBS issuance numbers, and housing trends to see if the Ides of March are proven to be turbulent again. We explore the slowdown in consumer spending across all income levels and unpack the latest CMBS issuance numbers. On the housing side, we break down insights from Trepp’s Chief Economist on understanding preferences between renting vs. buying. We discuss signs of life in the NYC office market, hig...
Mar 14, 2025•42 min
In this week's episode of The TreppWire Podcast, we discussthe recent economic headlines we’ve seen week after week – including inflation, tariffs and immigration – to continue to bring you fresh perspectives on why matter for the commercial real estate (CRE) markets. We discuss the GSA office property data behind the properties they want might want to sell, analyze the impact of the trade wars on the industrial market, and do a deep dive into the concept of anticipatory value. We share our late...
Mar 07, 2025•49 min
In a special guest episode of The TreppWire Podcast , we welcome Bill Sexton, CEO of Trimont, to discuss Trimont's landmark acquisition of Wells Fargo’s non-agency third-party commercial mortgage servicing business. This deal makes Trimont the largest loan servicer in the U.S., managing approximately 11% of all U.S. commercial real estate (CRE) debt. Bill provides insights into why this acquisition was a strategic move, how it reshapes the competitive landscape, and what it means for bondholders...
Mar 04, 2025•31 min
In this week's episode of The TreppWire Podcast, we analyze recent economic indicators showing mixed signals, including declining consumer confidence at an 8-month low and the Fed's expected rate path through 2025. We examine the impact of new tariffs on market volatility and discuss recent high-profile CRE deals, including Apollo's acquisition of Bridge Investment Group. We break down notable appraisal value reductions across office, mixed-use, and retail sectors, the latest Mall of America app...
Feb 28, 2025•49 min
In this special guest episode of The TreppWire Podcast, we are joined by Michael Bull, founder and CEO of Bull Realty, and host of America’s Commercial Real Estate Show . With over 35 years in commercial real estate and more than $8 billion in transactions, Michael shares insights from his journey from leasing apartments while in college to running a successful brokerage licensed in 8 states. We discuss how integrity and quality service have been the cornerstones of his business through multiple...
Feb 25, 2025•28 min
In this week’s episode of The TreppWire Podcast, we examine the Fed's latest signals on interest rates, covering the evolving inflation landscape and newly proposed bank capital requirements that could reshape CRE lending. We review Walmart's lower-than-expected 2026 fiscal guidance and potential impacts of tariffs on retail spending. We explore DOGE's aggressive push on government lease terminations and analyze GSA data showing over 2.3 million square feet of terminated space. We dive into seve...
Feb 21, 2025•51 min
In this week's episode of The TreppWire Podcast , we analyze January's hotter-than-expected CPI print and Fed Chair Powell's Congressional testimony on rate cuts. We break down the mechanics of recourse loans and personal guarantees in distressed deals, like The Hotel Carter near Times Square. We then examine three major office refinancing deals in Midtown Manhattan totaling over $2.8 billion. We also dig into DOGE's federal real estate reduction strategy and its implications for commercial real...
Feb 14, 2025•52 min
