CRE Exchange: Commercial Real Estate, Property Valuations, Real Estate Analytics and Property Tax

We dig into the Fed’s recent meeting minutes, Q1 GDP revisions, consumer confidence trends, and the latest FDIC banking data. From inflation signals and trade tensions to CRE lending slowdowns and cooling construction activity, the episode connects the dots between the broader economy and the decisions facing market participants in 2025. Whether you're watching the labor market, pricing strategies, or borrower behavior, you’ll want to press play on this pulse check. Key Moments:01:28 FOMC Minutes and market reactions04:04 GDP numbers and economic projections09:15 Personal income, outlays, and consumer confidence13:55 Manufacturing and construction data19:47 FDIC Quarterly Banking Profile insights26:14 Upcoming reports and announcements Resources Mentioned:Q1 2025 US CRE Investment and Transactions Quarterly report - https://www.altusgroup.com/featured-insights/cre-transactions/US CRE Transaction Analysis – Q1 2025 - https://www.altusgroup.com/insights/us-cre-transactions/Multifamily sentiment rebounds as the US housing market rebalances - https://www.altusgroup.com/insights/multifamily-sentiment-rebounds-as-us-housing-market-rebalances/FOMC Minutes - https://www.federalreserve.gov/monetarypolicy/fomcminutes20250507.htmOECD Economic Outlook - https://www.oecd.org/en/topics/economic-outlook.htmlPCE index - https://www.bea.gov/data/personal-consumption-expenditures-price-index Conference Board Consumer Confidence Survey - https://www.conference-board.org/topics/consumer-confidenceUS Census Bureau Construction spending - https://www.census.gov/construction/c30/c30index.htmlFDIC Quarterly Banking Profile - https://www.fdic.gov/quarterly-banking-profileEmail us - altusresearch@altusgroup.comThanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.#CRE #CommercialRealEstate #Property

What do 33,000+ CRE transactions tell us about the Q1 2025 market? Cole Perry and Omar Eltorai walk through Altus Group’s Q1 2025 US CRE Investment and Transactions Quarterly report providing analysis of the numbers sector by sector and highlighting trends worth watching. From tentative recovery signs for office and multifamily to regional variations in retail, this episode puts a lens on where the market stands and what questions CRE investors should be asking. Key Moments:00:49 - Q1 2025 US CRE Investment and Transactions Quarterly report overview01:57 - Transaction volume and pricing trends12:47 - Detailed analysis by property sector18:16 - Key takeaways22:81 – Biggest surprises25:47 - Report Access InformationResources Mentioned:Q1 2025 US CRE Investment and Transactions Quarterly report - https://www.altusgroup.com/featured-insights/cre-transactions/Email us - altusresearch@altusgroup.comThanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.#CRE #CommercialRealEstate #Property

Marc Hershberg, Managing Partner and CEO at Topaz Capital, joins us to unpack the real story behind Florida’s multifamily market. While headlines tend to spotlight Florida’s coastal glamour, Marc takes us beyond the beach by highlighting why inland markets, workforce housing, and Class B assets are where the smart money is headed. We discuss the strategic importance of inland geography, the philosophy of "market-first, deal-second", the risks of climate-driven insurance volatility, and how foreign capital is approaching the Sunshine State.Tune in for a grounded, forward-looking conversation you won't want to miss. Key Moments:00:58 Mark Hershberg's early real estate journey02:33 Launching Topaz Capital: Opportunities and challenges05:32 Topaz Capital's current operations and strategy08:43 Investment focus: Workforce housing in Florida11:10 Recent deals and investment strategies13:00 The 1031 Exchange platform15:08 Florida's multifamily market: Risks and opportunities25:29 Foreign investment and local knowledge28:01 Using data analytics for investment decisions29:09 Outlook for multifamily investments Resources Mentioned:Marc Hershberg - https://www.linkedin.com/in/marchershberg/Topaz Capital Group - https://topazcg.com/Email us - altusresearch@altusgroup.comThanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.#CRE #CommercialRealEstate #Property

The Northeast and Mid-Atlantic aren’t the easiest regions for multifamily investment, but they might be the most instructive.We sit down with Matt Frazier, Founder and CEO at Jones Street Investment Partners, to explore how the region’s regulatory complexity, persistent housing undersupply, and stable demand create an environment that rewards long-term thinking and local expertise. Matt shares how his team leverages vertical integration to manage risk, capitalize on operational efficiencies, and respond quickly to changing market conditions. He also offers his thoughts on rising insurance costs, evolving capital structures, and secondary urban markets. Tune in for valuable lessons on resilience, discipline, and execution in multifamily real estate. Key Moments:01:10 Matt Frazier's background and career03:21 Founding Jones Street Investment Partners06:05 Investment philosophy and market focus12:51 Capital stack and funding strategies15:49 Resident profiles and thematic investments19:18 Current market drivers and opportunities23:03 Challenges in multifamily housing development28:18 Insurance volatility and strategic adjustments32:52 Impact of policy and geopolitical changes39:39 Technology in real estate development and management Resources Mentioned:Matt Frazier - https://www.linkedin.com/in/matt-frazier-a1b5963/Jones Street Investment Partners - https://www.jonesstreet.com/How Northeast and Mid-Atlantic real estate developers can help drives multifamily housing growth | Forbes - https://www.forbes.com/councils/forbesbusinesscouncil/2025/04/21/how-nema-real-estate-developers-can-help-drive-multifamily-housing-growth/Email us - altusresearch@altusgroup.comThanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.#CRE #CommercialRealEstate #Property

Brandon Isner, the Head of Retail Research at Newmark, shares his expertise on the retail real estate renaissance. He dives into how Gen Z is reviving in-person shopping and the transformative power of AI in enhancing retail experiences. The conversation highlights the evolution of malls into lifestyle hubs and the importance of tech-driven omni-channel strategies. With insights on the blend of e-commerce and physical stores, Isner reveals what market participants should keep an eye on as the retail sector enters a promising new era.

Spencer Burton, CEO and co-founder of CRE Agents, joins us to explore how AI is transforming the way CRE professionals work. From eliminating repetitive tasks to enabling smarter, faster decision-making, Spencer shares how digital coworkers are already creating a multiplier effect for their human counterparts across the industry.In conversation with our host, Omar Eltorai, they discuss strategies for adopting AI without overhauling your entire operation, and why building reflexive AI usage habits now will give both professionals and firms an edge in the years ahead.Tune in if you’re looking to work smarter, move faster, and stay competitive.Key Takeaways:00:46 Spencer Burton's background02:12 Automation and efficiency in commercial real estate04:38 Founding of CRE Agents06:49 Building a digital coworker09:32 The role of AI in commercial real estate17:56 The technical bench strength behind CRE Agents19:41 Challenges and future of CRE technology23:12 The AI multiplier effect32:07 Zero friction adoption for AI in CRE34:42 Advice for industry professionalsResources Mentioned:Spencer Burtonhttps://www.linkedin.com/in/spencerburton/CRE Agents | LinkedInhttps://www.linkedin.com/company/creagents/CRE Agents | Website https://www.creagents.com/Email us -altusresearch@altusgroup.comThanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.#CRE #CommercialRealEstate #Property

From interest rate volatility and sector-specific repricing to evolving strategies across construction lending and senior housing, Justin Pinckney, Head of Private Debt at AEW, offers a tactical lens on balancing risk and opportunity in today’s CRE debt market. Together with our host, Omar Eltorai, they also explore the case for standardized valuation benchmarks, results and findings from Altus Group's Q1 2025 Debt Capital Markets Survey, and how AEW is positioning itself for the next phase of the cycle.Tune in for Justin’s engaging and data-driven perspectives on lending and underwriting strategies in 2025’s US CRE environment. Key Moments:01:52 Justin Pinckney's career journey04:41 Role at AEW and credit platform06:37 Market trends and strategies13:40 Senior housing opportunities17:13 CRE debt market analysis25:54 Private credit and portfolio construction31:00 Bank and non-bank lenders33:59 Future of CRE lending Resources Mentioned:AEW – https://www.aew.com/Searching for gold: Strategies for navigating debt opportunities in uncertain times - https://www.aew.com/research/searching-for-gold Altus Group’s Debt Capital Markets Survey - For more information about the survey findings or to participate in future surveys, please reach out to the team at AltusResearch@altusgroup.comEmail us - altusresearch@altusgroup.com Thanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.#CRE #CommercialRealEstate #Property

Christine Mastandrea, President and COO of Whitestone REIT, discusses the importance of a community-first approach in commercial real estate. She highlights how retail spaces can transform into vibrant community hubs that reflect local culture and adapt to generational shifts. The conversation delves into strategies for navigating challenges like COVID-19, emphasizing resilience and relevance in retail development. Christine also shares insights on the evolving role of retail in community building and offers advice for those looking to enter the commercial real estate industry.

We discuss the latest installment of Altus Group’s US CRE Investment and Transactions Quarterly report. The team delivers a retrospective on transaction volumes nationally and then zooms in on pricing trends and sector-by-sector insights, covering industrial, hospitality, multifamily, office, retail, and general commercial/mixed use. Tune in for the numbers, the analysis, and a few surprises. Key Moments:00:49 Overview of the Investment and Transactions Quarterly Report02:06 Key changes in the latest report03:13 Headline volume figures for 202405:15 Transaction activity and trends09:05 Pricing trends and market insights12:55 Sector-specific analysis: Industrial, hospitality, and commercial general19:40 Sector-Specific analysis: Multifamily, office, and retail21:37 Key takeaways and surprises from the report29:12 Conclusion and how to access the full report Resources Mentioned:Q4 2024 US CRE Investment and Transactions Quarterly reportUS commercial real estate investment trends and transaction volume - https://www.altusgroup.com/featured-insights/cre-transactions/US commercial real estate investment sales - pricing and pacing - https://www.altusgroup.com/featured-insights/cre-transactions/pricing-pacing/US commercial real estate investment sales - property sectors - https://www.altusgroup.com/featured-insights/cre-transactions/property-sectors/ Email us - altusresearch@altusgroup.comThanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.#CRE #CommercialRealEstate #Property

We break down the Federal Reserve’s latest rate decision, the release of their minutes, the press conference, and the updated Summary of Economic Projections. We’ll also take a look at key macroeconomic highlights from the past week, including retail sales, housing data, and insights from regional Fed surveys and indices. Finally, we sift for some key takeaways from the Mortgage Bankers Association’s Q4 2024 report on commercial mortgage debt outstanding. Key Moments:01:36 Federal Reserve Rate Decision and Economic Projections06:27 Impact on Commercial Real Estate08:18 Macro Highlights: Retail Sales and Housing Data10:44 Manufacturing Indexes and Industrial Real Estate19:41 Financial Conditions and Stress Indexes24:18 Mortgage Bankers Association Q4 Report29:07 Upcoming Conferences and Events Resources Mentioned:FOMC meeting – https://www.federalreserve.gov/monetarypolicy/fomcpresconf20250319.htmAdvance Monthly Sales For Retail And Food Services, February 2025 -  https://www.census.gov/retail/marts/www/marts_current.pdfMonthly New Residential Constructino, February 2025 - https://www.census.gov/construction/nrc/current/index.htmlEmpire State Manufacturing Survey -  https://www.newyorkfed.org/survey/empire/empiresurvey_overviewPhilly Fed Manufacturing Business Outlook Survey - https://www.philadelphiafed.org/surveys-and-data/regional-economic-analysis/manufacturing-business-outlook-surveyMortgage Bankers Association’s Commercial/Multifamily Mortgage Debt Outstanding quarterly report - https://www.mba.org/news-and-research/newsroom/news/2025/03/18/commercial-and-multifamily-mortgage-debt-outstanding-increased--47.7-billion-in-third-quarter-of-2024Email us - altusresearch@altusgroup.comThanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.#CRE #CommercialRealEstate #Property