In a special live edition of The TreppWire Podcast recorded at the California MBA Western States CREF conference, the team is joined by Chad Carpenter, CEO & Chairman of Reven Office REIT to dig into the state of the office market. We go beyond the cubicle and talk all things distress rates, metro areas to watch, criticized loan data, office loan losses, and more. Chad shares stories about taking advantage of the capital void for office debt and what originations have been like. Get access to the slides from this presentation here: https://www.trepp.com/instantly-access-western-cref-presentation. Tune in now.
This episode is sponsored by Xchange.Loans. Visit https://xchange.loans/trepp if you're looking to buy or sell performing and non-performing loans.
Episode Notes:
Year-to-date Office Headlines (0:56)
Distress Rates Since 2000 & Market Cycles (7:37)
Maturity Defaults & Total Office Delinquency (11:39)
Maturities by Property Type through EOY 2026 (19:24)
2024 Office Maturities by Building Age (23:17)
Bank CRE Debt Holdings (27:29)
Urban vs. Suburban & Fault Lines in the Office Market (28:54)
Bank CRE Loans: Criticized Loans by MSA from 2019-2023 (39:21)
New Bank Originations by Property Type from 2019-Q1 2024 (47:59)
Sales Prices Across Major Metros 2019-2023 (51:37)
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