The TreppWire Podcast: A Commercial Real Estate Show

While the rest of the economy drops with signs of turmoil this week, the commercial real estate market has been holding strong. In this week’s episode, we discuss inflation and supply chain issues impacting the markets. Then, we dive into some positive signs for CRE in terms of CMBS and bank loan delinquencies, and the latest office, retail, and hotel news. Tune in now. Episode Notes: • Inflation and supply chain issues (0:18) • CMBS delinquency rates(6:54) • Bank loan delinquencies and risk ratings (8:42) • Office green shoots(11:02) • Return to office changes (15:09) • Must-know news (18:09) • Positive retail news (19:24) • Hotel stories (23:34) • Slice of Life: A “gratuitously obnoxious” story (28:05) • Shoutouts (31:12) 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, we discuss the Evergrande news, comparing what we are seeing now to the Great Financial Crisis. We dive into a headline story that our own TreppWire team uncovered involving a misallocation of $12 million to CMBS bondholders. Professor Lonnie Hendry joins to give his office market predictions and share a rental rates 101 segment. Finally, what happens in Vegas doesn’t stay in Vegas, tune in to hear Manus’ takeaways from a recent trip. Episode Notes: • Evergrande and economic update (0:47) • Comparison to the GFC and Lehman (7:26) • Misallocation of funds / CMBS 101 (13:05) • Office green shoots (22:36) • Professor Hendry’s predictions: headwinds for office (25:01) • Rental rates 101 / office lease analysis (29:43) • Should-know office story (35:13) • Shoutouts (40:52) • Vegas vibe check (43:10) 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

The 100th episode of The TreppWire Podcast is here! Thank you to our listeners who have been along for the journey. In the milestone episode, we review stats that have taken CRE on a wild ride: COVID cases, travel numbers, unemployment, occupancy levels, and loan delinquencies. Then, we dive into this week’s news about business travel, real estate regulations, retail must-knows, and the return to the office. Stay tuned to see how you can win a pair of “iEars.” Episode Notes: 100th episode (0:21) CRE’s wild ride throughout the pandemic: the numbers (4:52) This week’s news (10:00) Hotels, business travel (15:18) Return to office updates (20:13) Office green shoots: Must-Know of the Week (21:45) Retail: must-know news for brokers and CMBX 6 longs and shorts (24:36) Regulatory updates (31:58) Shoutouts (34:26) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: https://twitter.com/treppwire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

The latest job claims update, higher than expected wage growth, and economic slowdown this summer due to the delta variant have us weighing the possibility of a future sell-off. In this week’s episode of The TreppWire Podcast, we dive into the latest change-up in return to office plans and what this means for the office market in various cities, we talk through Labor Day travel numbers and signs of a comeback for the hotel sector, and provide an update on recent retail gains. Stay tuned for our 100th episode next week! Episode Notes: Job Claims Update & Higher than Expected Wage Growth (1:45) Is a Tax Correction Coming? (7:05) Green-shoots in the Office Market (18:50) Must-Know of the Week: Crabgrass in St. Louis (25:01) Travel Numbers Almost Back to 2019 Levels…How are Hotels Holding Up? (26:34) Deep Dive on Las Vegas Hotel: LIBOR on the Floor (28:20) Are the Best of Retail Gains Behind Us? (34:35) Shout-outs (38:38) NFL Predictions (42:00) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

Mixed economic and commercial real estate headlines have us in a circle as we weigh the points and counterpoints of different stories impacting the markets. In this week’s episode of The TreppWire Podcast, we dive into the large decline in the CMBS delinquency rate, share several office and lodging stories, analyze hotel occupancy, review “better-than-ever” demand for several retailers that reported earnings, and give an update on the latest Eviction Moratorium news. Episode Notes: Economic update (0:20) CMBS delinquencies decline (6:48) Return to office and vaccine mandates (12:13) Positive and negative office stories (15:10) Lodging occupancy and travel news (24:35) Retail stories to watch (31:57) Manhattan street-level retail update (38:41) Eviction Moratorium news(44:21) Shoutouts (48:25) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: https://twitter.com/treppwire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

Access the survey results here: https://www.trepp.com/2021-cre-sentiment-survey-results Concerns over economic conditions, the Delta variant, and inflation continue to weigh on commercial real estate market participants. But are there any blind spots that investors should be watching for? In a special episode, we reveal the results of Trepp’s 2021 CRE Sentiment Survey, highlighting some of the most important points and key takeaways from what we found. Episode Notes: • Joe’s return to office (0:56) • The survey (5:37) • Overall sentiment: bifurcated (8:30) • Economic and regulatory impact (11:50) • CRE delinquency predictions (15:35) • Transaction activity (18:00) • CRE fundamentals: effective rents and economic occupancy (19:43) • When will people be back in the office (23:53) • Biggest concerns (23:34) • Audience write-ins/shoutouts (26:51) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

Take Trepp's CRE Sentiment Survey: https://www.surveymonkey.com/r/S2YNXYD In this week’s episode, we weigh the potential catalysts for a future credit crisis and review retail earnings for Walmart, Home Depot, Target, etc. which all beat on the bottom line. In CRE and CMBS news, we cover our latest headlines on mall value reductions, loans becoming newly delinquent, office lease renewals and sales, and new hotel openings. Episode Notes: What could be the catalyst for the next credit crisis? (1:00) Clues from retail earnings (11:50) Must-Know: Amazon opening brick and mortar stores (19:20) Mall value reductions, CMBX 6 news, newly delinquent loans (23:44) Firms reworking return to office plans (27:11) Office headlines (31:06) Deal of the Week (36:37) Airbnb earnings (38:11) Hotel green shoot(43:18) Shoutouts (45:17) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

In this week’s episode, our theme is a summer potpourri, a mix of retail and office headlines that are important to the commercial real estate finance market. We discuss the potential for borrowers handing back the keys, positive signs from Dillard’s earnings, WeWork’s latest partnership, upcoming foreclosure auctions, and office returns and rollbacks. Episode Notes: The time to taper is coming (0:55) Dillard’s earnings (5:07) Trading Alerts: non-core malls, borrowers handing back keys (8:46) Retail green shoots (18:04) Saks Fifth Avenue partners with WeWork (21:10) The Gap’s $24M in back rent (23:55) Employers moving ahead or rolling back return to the office (26:41) Office leases and sales (32:46) Upcoming foreclosure auctions (39:45) Single-family rental update (41:35) Shoutouts (44:08) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

In this week’s episode, we dive into the takeaways from the week's economic news and cover more earnings for giants in the hardest-hit sectors, lodging and retail. We run through the latest hotel transactions and what the sales mean for the market, discuss a tenant/mall lawsuit, and rollbacks for firms' return to the office plans. Lastly, we cover the extension of the eviction moratorium and the top markets for CRE investment. Episode Notes: This week's economic takeaways (1:11) Travel earnings (7:20) Hotel transactions (13:35) Retail news and earnings (16:14) Mall and tenant lawsuit (22:52) Return to office rollbacks (25:28) Vornado earnings: Class A office space demand (28:26) Deal of the Week (32:00) Must-Knows of the Week (33:29) Multifamily: eviction ban extended (35:52) Top markets for CRE investment (43:00) Shoutouts (44:45) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC

In this week’s episode of The TreppWire Podcast, we cover trends from the latest COVID-19 vaccine mandates and behind the tech giants’ and REIT earnings reports. We also dive into some key stories including how certain retail closures can impact a mall, more office lease and tenant moves, and the rise in hotel occupancy. Finally, we cover the latest news on the Eviction Moratorium and give a sneak peek at our secondary MSA rankings and delinquency report. Episode Notes: Vaccine mandates, tech earnings, economic update (1:01) Boston Properties’ earnings (10:33) Movie theater and student housing REIT earnings (14:51) Preliminary delinquency rates (18:12) Tesla showroom closings, how certain tenant closures can impact a mall (19:21) Deal of the Week (23:26) Office news: GSA demand decreases (25:13) Must-Know of the Week: Chicago Law Firm Moving? (28:42) Trading Alert: Fraud allegations for big CMBS loan (31:37) Eviction Moratorium update (35:23) Hotel occupancy rising (40:03) Ranking metro areas for CRE investment (46:28) Shoutouts (48:21) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: Twitter: twitter.com/TreppWire LinkedIn: www.linkedin.com/company/trepp-llc Facebook: www.facebook.com/TreppLLC