The TreppWire Podcast: A Commercial Real Estate Show

Matthew Frazier, CEO of Jones Street Investment Partners, joins the podcast to discuss the multifamily market. He highlights the Northeast market as a contrarian focus and explores the shifts that have occurred in the last two years. The impact of remote work on multifamily is analyzed, along with the flip in interest rates and rent growth. Frazier shares insights on playing offense or defense in the current market and discusses indicators of relative value. Other topics include multifamily maturities, commercial real estate pressure points, and where the opportunities lie in CRE. The conversation also touches on insurance costs and the benefits of vertical integration. The strength of the Boston real estate market and its university ecosystem are explored, along with the personal significance of Joan Street and the creation of opportunities.

In this week’s episode of The TreppWire Podcast, we examine the market U-turn that the industry watched as treasury yields and risk spreads tumbled. We dive into new deals, our CMBS delinquency report and a large industrial loan that caused a spike in that rate, REIT earnings and some optimism from mall CEOs, and more pain for the Bay Area office market. Tune in now. This episode is sponsored by Spinoso Real Estate Group: https://spinosoreg.com/mall-investment-opportunity-and-operating-platform?utm_source=TreppWire&utm_medium=TreppWire+Digital+Content&utm_campaign=TreppWire+Oct+Nov+2023+Sponsorship Episode Notes: • Economic update: Fed decision, spreads & rates (0:23) • CRE deals announced (11:22) • CMBS delinquency report (14:50) • REIT earnings and mall CEOs (21:31) • Retail stories (28:47) • Office news (31:30) • Industrial story (41:28) • Shoutouts (43:12) Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC

In this week’s episode, we break down the recent economic news including GDP, budget deficit, and stock moves ahead of the Fed's interest rate decision next week. In CRE, we find some silver linings from mall and hotel loan issuance. Then, we have green shoots and crab grass for office, hotels, and industrial.  Tune in now. This episode is sponsored by Spinoso Real Estate Group: https://spinosoreg.com/mall-investment-opportunity-and-operating-platform?utm_source=TreppWire&utm_medium=TreppWire+Digital+Content&utm_campaign=TreppWire+Oct+Nov+2023+Sponsorship Episode Notes: • Economic update (0:23) • CRE deals (9:48) • Office green shoots (14:07) • Office crab grass (17:07) • Retail headlines (26:43) • Hotels news (30:32) • Student housing green shoot (35:53) • Industrial (36:33) • Shoutouts (39:25) Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC

In this week’s episode, after analyzing the continued market volatility, we dig into some commercial real estate lending comps and the data behind the loans. We have a lot of news in office and retail – forming a dichotomy, sharing several green shoots for malls and even more crabgrass for the office sector. We break down stories about WeWork, value reductions, new leases, and close with a big multifamily headline. Tune in now. This episode is sponsored by Spinoso Real Estate Group: https://spinosoreg.com/mall-investment-opportunity-and-operating-platform?utm_source=TreppWire&utm_medium=TreppWire+Digital+Content&utm_campaign=TreppWire+Oct+Nov+2023+Sponsorship Episode Notes: • Economic update (0:23) • Lending comps: rates and data (9:25) • Retail crabgrass (17:45) • Retail green shoots (26:45) • Office crab grass (31:48) • Value reductions (40:00) • Leases (47:03) • Multifamily loan value slashed (52:08) • Shoutouts (54:15) Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC

There was a lot of economic data this week with CPI, PPI, Fed minutes, and earnings season beginning. But after last weekend’s carnage in Israel, we pause to balance the data and headlines amid the horror. In this week’s episode of The TreppWire Podcast, we also break down comps for office, hotels, multifamily properties, and industrial buildings. Tune in now. Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG Episode Notes: • Economic update and the war in the Middle East (0:23) • Loan payoffs hit 20-month low (9:45) • Banking sector news (13:59) • Valuations in the market (17:40) • Office green shoots and crab grass (21:58) • Industrial comps (30:43) • Hotel headlines (33:41) • Multifamily comps (37:53) • Shoutouts (45:30) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC

In this week’s episode, we discuss rising rates, a jump in risk premiums, and several painful comps in the commercial real estate market. The Trepp team searches for silver linings in a tough CRE market, we share positive retail stories, a lot of green shoots and crab grass for office, multifamily comps galore, and an industrial story to note. We also talk about NYC rent control and the retail apocalypse version in the office market. Tune in now. Episode Notes: • Economic update: stagflation, jobs, rates (0:23) • NYC rent control discussion (3:27) • Risk in the market (5:25) • Banks' unrealized losses (8:00) • Positive news for the retail market (10:24) • Office green shoots (21:18) • Office crabgrass (28:35) • The retail apocalypse of the office market (32:48) • Multifamily news and comps (39:28) • Industrial story (45:10) • Shoutouts (47:55) Questions or comments? Contact us at podcast@trepp.com. Please take our listener feedback survey: https://www.surveymonkey.com/r/BMPXLHG Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC

In this podcast, the hosts discuss the impact of rising treasury yields and oil prices on the stock market, along with the increase in mortgage costs and its effect on the housing market. They also explore downsizing and office space changes in various cities, positive news in the office real estate market, and the challenges faced by the retail industry.

218. Life, Lending, & Rock 'n' Roll: The Father of CMBS, Ethan Penner, Tells us How it all Started features Ethan Penner, the pioneer of commercial real estate finance and creator of CMBS back in the 1990s. In this podcast, Ethan breaks down his life in CRE, discussing topics such as the S&L crisis, guard rails for new market entrants, the cause of the Great Financial Crisis, how CMBS got started, and his new book. Plus, he shares some stories about his famous rock 'n' roll parties.

This podcast focuses on the post-Fed decision discussion, including the Dot Plot and the 'higher for longer' narrative. They also cover topics such as insurance expenses, a REIT bankruptcy filing, office challenges, retail updates, and interesting multifamily comps.

In a special guest episode, we welcome Twitter CRE sensation, StripMallGuy. After a successful career as a value-add retail buyer, StripMallGuy added the title of influencer to the resume. Here, we discuss the ins and outs of strip malls, how to balance social media and the day job, breaking into the industry, and more. Tune in now. The episode is sponsored by The Henley Group: https://www.thehenleygroup.com/ Episode Notes - Behind StripMallGuy (0:23) - Why strip malls? (5:05) - Adjusting to tighter credit conditions and a resilient consumer (6:15) - Balancing social media and the job (8:50) - Position as a value-add buyer (13:26) - "We don't 1031, we don't cost seg, we don't finance on the front-end of the deal..." (16:51) - The no-nos: Chick-fil-A, dry cleaners, & karate (21:07) - Mom & pop vs. national tenants (23:59) - Rookie mistakes (28:13) - Negotiating: LOI vs. signed contracts (32:09) - StripMallGuy's 'Black Swan' Event (36:07) - Converting mom and pop to triple net lease structure (38:54) - What would StripMallGuy be doing if not in CRE? (41:56) - Best thing about NYC (42:25) - HOAs (43:38) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp Facebook: www.facebook.com/TreppLLC