CREFC Miami Recap: Zachary Streit: Priority Capital Advisors

In this episode of Deal Flow Friday, David Moghavem sits down with Zach Streit, Founder and President of Priority Capital Advisory, for a wide-ranging conversation on the shifting dynamics of today’s commercial real estate capital markets. Drawing on nearly two decades of experience, Zach breaks down why there is currently more capital than deals, how banks and insurance-backed debt funds are driving spread compression, and what that means for borrowers across the capital stack. The discussion explores why the long-anticipated wave of distress never fully materialized, how capital is now moving from credit and preferred equity back toward common equity, and where fixed-rate versus bridge financing fits in this new environment. Zach also walks through the closing of a $175 million construction and land recapitalization in California, sharing lessons on perseverance, counterparty risk, and relationship-driven dealmaking, before wrapping with insights on “naked brokerage,” building trust, and creating your own luck in a competitive market.

Chapters

00:00 Introduction: Zach Streit (Priority Capital Advisory)
03:12 CREFC Vibe Check: “More capital than deals”
06:08 Debt Funds Folding/Consolidating + Counterparty Risk
07:45 Credit-to-Equity Domino Effect + Capital Moving Up the Stack
12:05 Why Distress/Pref Equity Didn’t Deploy Like Everyone Expected
16:12 Why Acquisition Bridge is Muted (and where bridge is happening)
23:51 Case Study: $175M Santa Maria Construction + Land Recap (Deal Breakdown)
30:56 Creating Your Own Luck in Brokerage
35:26 “Naked Brokerage” Explained + Advice for Young Brokers

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