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The Father Of CMBS Says We’re In ‘Uncharted Territory’ When It Comes To Valuing Real Estate

Aug 27, 2020

Ethan Penner, Managing Partner of Mosaic Real Estate Partners and widely recognized as the father of Commercial Mortgage-Backed Securities, discusses the volatile state of the real estate market. He highlights the stark divide between thriving suburban markets and struggling urban commercial spaces. Penner reflects on historical crises and draws parallels to current challenges, emphasizing how shifts in remote work and economic uncertainty are reshaping valuation dynamics. He also explores the interplay between buyers and sellers amidst evolving financial landscapes.

47:40

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Episode guests

Ethan Penner

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Episode notes

Intro

3min

Navigating Real Estate's Evolution

6min

Navigating the Shifts in Real Estate Financing Dynamics

5min

Challenges in Commercial Mortgage Financing

12min

Navigating Retail Real Estate Challenges in Uncertain Times

6min

Navigating Uncertainty in Commercial Real Estate

20min

There are some sectors of the real estate market, such as suburban residential housing, that are doing just fine throughout this crisis. However, other areas are facing true existential risk. The value of commercial real estate in big cities is extremely uncertain due to the combination of the virus itself, potential migration out of cities, and the fact that so many people can work from home. On this episode, we speak with Mosaic Real Estate Partners Managing Partner Ethan Penner, who has been described as the father of Commercial Mortgage-Backed Securities, on real estate market structure and what it means for the billions of dollars worth of assets that are on the line.

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