The TreppWire Podcast: A Commercial Real Estate Show

In this week’s episode, we dive into bearish comments from Jamie Dimon, Fed announcements, and inflation data. We give a "CMBS 123," hitting on primary market news, spread movement, and changes in delinquency rates. We discuss Elon Musk’s comments about the return to work and then examine other office news. In noteworthy CRE stories, we touch on crabgrass and green shoots for shopping centers, large retail loans, food and beverage operators, and office vacancies. Tune in now. Episode Notes: • Market update (0:21) • CMBS spread movement (6:47) • Delinquency rate (14:29) • Retail (19:21) • Retail credit stories (24:27) • Return to office? Elon Musk's take (28:07) • Office stories (31) • Shoutouts 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 examine the mixed-bag of retail earnings reports and what it means for the market. We talk about office maturities, stories focused on "vacate and terminate," and the sentiment that the office market may be facing "death by a thousand cuts." Finally, we dive into single-asset, single-borrower transactions and explain the trends seen with those CMBS deals. We also find out what Lonnie would do if he wasn’t in CRE and discuss what he would name his startup company... Episode Notes: • Stocks, economy, market news (0:23) • Thing 1 & thing 2 in the market (5:25) • Mixed bag of retail earnings (8:52) • ICSC retail conference sentiment, interview with Stephanie Cegielski (16:58) • Retail stories (22:47) • Office maturities (28:07) • Office crabgrass (34:20) • Trading Alert: NY office loan extension (41:46) • Single-asset, single-borrower issuance (43:13) • Shoutouts (49:08) 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 latest on consumer sentiment, which declined in early May to the lowest since 2011 as persistent concerns over inflation dimmed Americans' views on the economy. We also examine retail earnings reports, showing a slump in many major retail stores, yet a top performance from home improvement stores. In weekly CRE news, we review negative office stories and hotel transactions.

In a special guest episode of The TreppWire Podcast, we welcome Carly Tripp, Global Chief Investment Officer and Head of Real Estate Investments at Nuveen Real Estate. Carly speaks with the team about the shifting commercial real estate landscape, diving into the impact of the current macroeconomic climate and how the pandemic changed the market. We also discuss the heavily-debated office sector, retail resiliency, and surprises in CRE. Episode Notes: Carly Tripp background/overview (0:54) Interest rates and inflation, impact on CRE (3:51) Are parts of CRE more resilient to passing costs? (7:08) Rental housing (10:16) The velocity of CRE & investment (12:06) CRE fundamentals: the office market (14:22) Hotel volatility (18:17) Strong performers, alternative asset classes (20:51) Retail resiliency (23:46) What keeps us up at night: the macro backdrop (26:08) Vibe check (29:26) Nuveen RealAccess report (30:33) 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 dive into the latest market reactions; crypto panic, inflation gauges, and Fed announcements. We also share insights and market sentiment from our lending client symposium, featuring takeaways from industry experts at the Mortgage Bankers Association and the Atlanta Federal Reserve. In weekly CRE news, we dive into more negative stories for office, the hot or not industrial market, and retail headlines. Episode Notes: • Market headwinds (0:43) • Stocks that hit us over last few months (5:45) • Insights: Brian Bailey, Atlanta Fed (7:14) • Regulation update, Mike Flood, MBA (15:03) • Lending and originations sentiment (18:18) • Office news this week (20:42) • Industrial market update(31:24) • Shoutouts (40:00) 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 of The TreppWire Podcast, the team discusses recent tech earnings, inflation, big-box retail, and office news. Next, we dive into the delinquency rate, interest-only bonds, and hotel transactions. Then we talk about big tech giant Amazon and the Metaverse. Stick around to hear a sneak peek as we shed light on the multifamily market. Episode Notes: Market Overview (0:40) Inflation- The Fed (4:28) Big Tech- Amazon/Meta (10:05) Metaverse (18:33) CMBS Delinquency Rate (20:11) Interest Only Bonds (24:25) Office News (29:03) Retail Stories (38:40) Hotel Transactions (46:30) Multifamily Market Sneak Peak (49:38) Shoutouts (49:47) 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

There was a mixed bag of tech earnings this week, so we dive into some of the headlines and the impact on commercial real estate. In this episode of The TreppWire Podcast, we also cover recent stories about offices downsizing and record property transactions. We then follow up on our recent multifamily net operating income teaser, sharing the headlines that came from preliminary income, revenue, and expense data. Episode Notes: Investor reaction to stock selloff (0:23) Tech earnings, impact on CRE (9:02) Office crabgrass (18:51) Green shoots for office (23:35) Blackstone headlines (29:09) Multifamily NOI report(33:27) Multifamily story – record price (41:13) Retail hits: Kohl's bids (42:27) Shoutouts (48:32) 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 analyze the mixed bag of economic news, discussing CRE sentiment and the CMBS data to watch. In CRE property type news, we cover stories for office properties across the country, including space being taken off the market, new leases signed, transfers to mortgage lenders, and luxury office purchases. We then look at important headlines for retail, life science, hotels, and student housing. Listen now. Episode Notes: Market uncertainty (0:25) CRE sentiment (6:42) CMBS spreads and issuance (7:42) Green shoots for office (12:38) NYC office stories (15:28) Crabgrass in office sector (17:05) Bad news for Chicago (19:43) ‘Zombie’ office space in Cleveland (21:43) Life science interest (24:10) Brokers start your engine (26:53) CMBX mall loan news (28:27) Retail stories (31:05) Student housing deals and acquisitions (33:04) Quick hits for hotels (39:30) Shoutouts (43:51) 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, Matthew Osborne, Executive Vice President, Senior Commercial Banking Officer with Eastern Bank joins the team to dive into the world of commercial real estate lending. We discuss the booming life sciences asset class in Boston, challenges for lenders and real estate developers, the intrigue of single-family rental properties, and competitiveness in the lending landscape. Matt also walks through what he saw on the front lines of lending during COVID-19 vs. past recessions, and how unprecedented government support impacted the playbook. Episode Notes: Intro (0:39) Life-science asset class in Boston (3:10) Challenges in the Boston market (8:39) Considerations for lenders (11:01) Self-storage sector (14:40) Pandemic impact vs. past recessions (17:13) Froth in the market (20:50) Competitive lending landscape (25:04) Intriguing property types: single-family rentals (26:24) Shoutouts (32:52) 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 what the CPI and PPI numbers mean for the market and cover recent bank, retail, and airline earnings. In a segment called “brokers start your engines,” we examine the latest office sales. We then take a walk down memory lane, reporting on new data for properties we’ve been watching over the years. Finally, we give a teaser for our multifamily net operating income analysis. Episode Notes: • Inflation, CPI, PPI (0:22) • Bank and retail earnings (8:47) • Delta earnings (14:17) • Office stories and preliminary maturity data (16:20) • Brokers start your engines: sales (23:46) • Walk down memory lane: CMBS loan news (28:15) • Twitter and Elon Musk, CMBS headquarters (34:44) • Retail store closures decline and increased theft (38:16) • Crabgrass and green shoots for retail (42:17) • Multifamily financials report (48:28) • Shoutouts (54:26) 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