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

With Q2 earnings season at its midpoint, this episode offers a snapshot of how select REITs across industrial, office, residential, and retail sectors are performing and positioning. Hosts Omar Eltorai and Cole Perry highlight key takeaways from recent calls and early reporting trends. Stay tuned for our wrap-up episode once earnings season concludes, we’ll cover overarching themes across both property types and sector players. Key Moments:01:40 Industrial REIT highlights14:25 Office REIT highlights27:46 Multifamily REIT highlights38:06 Retail REIT highlights47:19 Next week's episode preview Resources Mentioned: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

Proptech is evolving, albeit at different speeds across sectors. KBW’s Ryan Tomasello joins our hosts, Omar Eltorai and Cole Perry, to explore how data access, market consolidation, and the drive toward vertical integration are shaping both residential and commercial real estate technology stacks. From digital mortgage platforms and MLS disruption to CRE’s fragmented data landscape, get an informed view at where real estate technology stands today, and where it’s headed. Key Moments:01:30 Overview of KBW and market perception04:00 Trends in real estate technology06:50 Mergers, acquisitions, and funding trends08:45 Macro trends affecting real estate tech17:29 Commercial real estate technology25:28 The future of MLS and residential real estate30:26 The rise and fall of iBuying Resources Mentioned:Ryan Tomasello: https://www.linkedin.com/in/ryantomasello/KBW: https://www.kbw.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

Andrew Foster, Senior Director at KBRA and CMBS expert with 18 years of experience, shares valuable insights on the U.S. CRE securitization market. He discusses current trends in CMBS issuance and strong investor appetite, despite refinancing risks. Andrew highlights the rise of private credit, regulatory changes reshaping the landscape, and offers optimism for the future of CRE finance. Additionally, he touches on the importance of CMBS, the growing role of technology in financing, and the critical need for diversity in leadership within the industry.

Ryan Severino, Chief Economist and Head of Research at BGO, discusses how data science is transforming commercial real estate investing. From outperforming rent growth projections in Las Vegas to forecasting macroeconomic shifts with machine learning, Severino takes us through the power and challenges of blending traditional insights with modern analytics. This is a must-listen for CRE professionals navigating today’s increasingly data-driven landscape. Key Moments:01:17 Ryan Severino's team and economic modeling02:08 Data science in real estate forecasting03:12 Impact of research on investment decisions06:55 Challenges in aligning research with investments08:55 Ryan's curiosity and approach to research12:36 Current macroeconomic environment17:08 CRE market predictions for 202520:52 Augmented base case model for US Economy26:25 State of CRE markets36:00 Teaching and mentoring the next generation Resources Mentioned:Ryan Severino: https://www.linkedin.com/in/ryan-severino-cfa-4409022/The Chief Economist newsletter: https://www.linkedin.com/newsletters/the-chief-economist-7100087057724702720/Email 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

Dr. Philip English from Temple University joins us to discuss our upcoming research paper on CRE liquidity, how liquidity shapes investment decisions, why traditional market measures may fall short, and what new research reveals about true liquidity. From transaction-based indices to the evolution of market structures, this discussion sheds light on the complexities and opportunities facing investors and lenders when it comes to the liquidity of commercial real estate. Key Moments:00:50 Meet Dr. Philip English04:29 Exploring CRE market liquidity08:35 Key findings and insights10:25 The importance of liquidity in CRE12:28 Current market conditions and trends14:12 The role of data in CRE research22:03 Practical applications for investors24:33 Evaluating portfolio manager performance27:20 Understanding the research frontier32:06 Liquidity and market investability36:25 Future of CRE research and market structure45:38 Challenges and opportunities in CRE data Resources Mentioned: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 share the key macroeconomic signals and policy decisions affecting commercial real estate as we move into the second half of 2025. From declining retail sales and builder sentiment to insights from the latest FOMC meeting, we explore how economic headwinds are influencing CRE strategy, pricing gaps, and transaction volume. Tune in for analysis on capital access, operational priorities, the evolving definition of real assets, and takeaways from the recent CREFC Annual Conference. Key Moments:01:16 Economic indicators: Retail sales05:02 Economic indicators: Housing data10:26 FOMC meeting highlights14:26 Summary of Economic Projections15:15 Major themes: Higher for longer16:20 Major themes: Price vs. value17:23 Major themes: Operations and cash flow18:38 Major themes: Lumpy transactions20:59 Major themes: Real asset merge24:23 CREFC Annual Conference Insights31:12 Upcoming Episodes and Data Releases Resources Mentioned:Advance retail sales: https://www.census.gov/retail/sales.html   NAHB Housing Market Index: https://www.nahb.org/News-and-Economics/Housing-Economics/Indices/Housing-Market-Index   FOMC Summary of Economic Projections: https://www.federalreserve.gov/monetarypolicy/fomcprojtabl20250618.htm   CREFC Annual Conference 2025 – Key takeaways: https://www.altusgroup.com/insights/crefc-annual-conference-2025-key-takeaways/   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

PwC’s Tim Bodner joins us to explore how commercial real estate firms are navigating today’s volatility and laying the groundwork for a long-term recovery. We discuss the move toward strategic consolidation, the rise of real assets as a unified investment class, and the technologies driving change in operations and asset selection. Tune in for an expert perspective on strategy, adaptability, and emerging opportunities in a new era of complexity. Key Moments:01:01 Tim Bodner's career02:52 Industry involvement and roles05:02 PwC's global real estate practice09:50 Findings from PwC’s US Deals 2025 Midyear Outlook20:43 Strategic consolidation in real estate26:40 Office to residential conversions30:05 Policy changes and their impact33:27 Future Outlook and Technology Adoption Resources Mentioned:PwC: https://www.pwc.com/usThe Real Estate Roundtable: https://www.rer.org/Real estate: US deals 2025 midyear outlook: https://www.pwc.com/us/en/industries/financial-services/library/asset-wealth-management-real-estate-deals-outlook.htmlEmerging trends in real estate® 2025: https://www.pwc.com/us/en/industries/financial-services/asset-wealth-management/real-estate/emerging-trends-in-real-estate.htmlEmail 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

Dive into the latest insights from Q1 REIT earnings calls across various property sectors. Discover how industrial real estate is thriving despite economic challenges and explore Avalon Bay's impressive rental revenue growth. Get the scoop on the data center market's rising demand and Welltower's strong performance amidst healthcare trends. With a focus on unique market drivers, this discussion sheds light on the evolving landscape of commercial real estate and what’s on the horizon for investors.

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