The TreppWire Podcast: A Commercial Real Estate Show

In this week’s episode, we search for signs to see if the economy is responding to the Fed’s medicine. In a segment called ‘Digging Through the Data,’ we examine underlying distress for multifamily, retail and lodging. We also provide an update on the CMBS market, reviewing delinquency rates and slowed issuance. Then, we share predictions for Q3 bank earnings. Episode Notes: • Economic news (0:23) • Multifamily distress (7:45) • CMBS delinquency report (13:13) • CMBS issuance (17:40) • Digging through the data: loan value(20:17) • Office news (22:44) • Office green shoots (30:10) • Retail headlines (33:53) • Q3 Bank Earnings predictions (41:37) • Shoutouts (44:10) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

This week, markets are in turmoil, the dollar is surging, and a currency crisis triggered a surprise move by the Bank of England. With all of that, we also can’t ignore the impact of Hurricane Ian. In this episode, we dive into the headlines, with a theme that when trust starts to evaporate, so does liquidity. We also review data surrounding true signs of CRE distress, map the exposure of $52 billion of CRE loans to the hurricane, and talk news for office, retail, and multifamily properties. Tune in now. Episode Notes: • Economic news (0:23) • Trust issue (10:36) • Hurricane Ian: CRE exposure (15:08) • CRE distress: the data (20:16) • Office positive news (26:26) • Bad CRE news (31:54) • Retail positives (38:15) • Shoutouts (41:37) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

While the latest interest rate hike was no surprise, markets reacted this week. In this week’s episode, we dive into the economic news to know: housing, rates, and big company news. In CRE, we preview an analysis of multifamily cap rates, dive into life insurance commercial mortgage returns and share the latest hotel, retail, and office stories. Episode Notes: Economic news (0:23) Hotels (18:09) Positive office developments (22:49) Office crabgrass (27:42) Brokers start your engines (37:41) Retail news (38:31) Trepp LifeComps Return Index (43:41) Shoutouts (45:27) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

In a week full of bad news, there were some positive signs for the CRE market that shone through… and there’s also pickleball. In this week’s episode, we dive into the swath of economic data to digest including inflation, earnings, and stock moves. We cover retail trading alerts, multifamily news and cap rates, and office transactions and leases to watch in Manhattan. Episode Notes: Economic data to digest (0:23) Inflation and Barry Sternlicht comments (4:12) FedEx tenant news (11:01) The good news (13:00) Quantitative tightening (16:21) Retail trading alerts (18:26) Multifamily news (23:43) NY office stories (29:47) Industrial (42:19) Shoutouts (45:14) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

In this week’s episode, we provide an update on the energy crisis in Europe and discuss how looming geopolitical risks may impact the commercial real estate market. In a post-Labor Day check-in, we dive into our outlook for the remainder of 2022, sharing thoughts, data, and stories that cover hotels, multifamily, office, and retail.  Tune in now. Episode Notes: • News out of Europe and geopolitical risks(0:23) • CRE Outlook for Remainder of 2022, hotels (11:24) • Multifamily outlook (15:06) • Industrial(18:24) • State of retail (19:21) • Office overview (24:11) • Office news from the week(28:03) • Retail stories (37:45) • Single-family rental market(40:56) • Shoutouts (43:02) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

In this week’s episode, we dive into the economic data that represents a “summertime blues” theme, and how commercial real estate is combatting the negativity. We cover our August CMBS delinquency report, providing an overview of what could happen to the closely-watched office sector. Then, we discuss news for hotels, multifamily, and large companies returning to the five-day work week. Listen here. Episode Notes: • Latest economic news (0:22) • Housing market (12:04) • Superbubble? (13:54) • CMBS Delinquency Report (15:52) • What's to come for office? (17:52) • Hotel news(21:52) • Return to five days in office(26:51) • Office stories (31:35) • Multifamily news and data (38:45) • Shoutouts (46:23) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

In this week’s episode, we review the risk-on or risk-off environment amid choppy news and try to make sense of the impact on CRE. We discuss the recency bias in the market, retail earnings, and companies shedding their office space. We also dive into large retail trading alerts and Professor Hendry shares a real estate value lesson on demand, utility, scarcity, and transferability. Tune in now. Episode Notes: News that could impact Fed’s sentiment (0:23) Recency bias (7:04) Retail earnings (10:24) Peloton and Lyft office news (16:30) Trading alert: Unibail-Rodamco-Westfield (17:48) Trading Alert: Cineworld (20:21) Office news (23:17) CRE Value: D.U.S.T (26:17) Green shoots (30:31) Negative asset class stories (34:24) Preview, secondary MSA rankings (38:36) Shoutouts (40:33) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

In this week’s episode, we discuss the latest economic news to digest and how excess inventory is impacting retail earnings. Rob Jordan, Head of CMBS, provides a quick hit on the CMBS market and raises the question if there is temporary thawing in issuance. We also discuss hotel transactions, tech companies back to the office, and leasing updates. Listen here. Episode Notes: • News to digest this week (0:23) • CMBS update: issuance, spreads, and pricing (4:18) • Retail earnings (7:21) • Retail stories (12:51) • Office news (20:07) • Leasing updates (22:50) • Hotel trading alerts (29:59) • Shoutouts (34:44) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

In a special guest episode of The TreppWire Podcast, we welcome Rachael Brown, Senior VP of Commercial Real Estate at The Bank of Tampa to discuss the current real estate lending market. We dive into the state of the Tampa Bay area, new developments to watch, the impact of economic conditions on CRE, and market sentiment amid volatility. Listen now. Episode Notes: • Background (0:23) • Tampa’s compelling nature (2:05) • Multifamily cap rates (9:25) • Projects and developments underway in Tampa (15:49) • Change in tone of the market; is it time to play offense or defense? (18:45) • Did liquidity tighten this summer? (20:26) • Impact of Fed decisions on FL economy (22:29) • Parallels to the GFC (24:09) • Bank of Tampa’s sweet spot (25:26) • What keeps you up at night in CRE? (27:17) • Market sentiment (28:17) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

In this week’s episode, we share our results from our CRE Sentiment Survey, covering macroeconomic, CRE and CMBS, and business-specific takeaways and impacts on market participants. We discuss recent positive CRE and CMBS developments in terms of issuance, pricing, and property type news. Episode Notes: • Macro update: inflation, jobs, Fed comments (0:23) • Earnings reports (7:34) • State of the CMBS market (10:15) • Macroeconomic sentiment (16:16) • CRE sentiment (20:45) • New office developments (26:33) • Office renewals (30:48) • Student housing demand (34:50) • Retail headlines (39:30) • Mall story (43:54) • Shoutouts (45:48) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: www.twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC