After low interest rates propelled investment sales to a record-breaking year in 2021, commercial brokerages including CBRE, Newmark and JLL, are now feeling the brunt of the impact. They're pushing to cut costs, some have laid off employees, but all agree the macroeconomic environment has made it hard to do business. Deconstruct chats with TRD reporter Patrick Ralph about the reasons behind the brokerages’ pain and whether the firms will see relief in the future.

As commercial real estate deals have sputtered under the pressure of a rising rate environment, one asset has proved a safe bet: grocery-anchored retail. Sales of shopping centers with a supermarket soared during the pandemic and should hold steady as other trades falter.

With rising interest rates, major institutions have cut back on lending. Issuances of commercial mortgage-backed securities dropped 35 percent in the third quarter, compared to the second. Deconstruct chats with Madison Realty Capital's Josh Zegen about what opportunities are still out there — coming from distress, loans on loans and creative refinancings. Credit: NBCLA

Compass CEO Robert Reffkin had a busy Nov. 10. Hours after speaking at a TRD forum in Miami, Reffkin got on a conference call with analysts to discuss the company's much anticipated earnings results for the third quarter. Compass lost $157 million from July through September — more than it lost in the second quarter. Deconstruct looks at the state of the brokerage, why it's struggling and where it goes from here. Guests: TRD reporter Harrison Connery, TRD deputy web editor and South Florida reporter Katherine Kallergis.

Industry experts agree: Converting unused office towers to residential buildings is great in theory, but a moonshot to pull off. Despite the grab bag of obstacles that make these projects so difficult, the developer and office landlord Hines is getting in on the action. The Real Deal breaks down how Hines' Salt Lake City project pencils out and what it signals about the right building for the job. Guests: Steven Paynter, studio director at Gensler's Toronto office; Dusty Harris, senior managing director of Hines' Utah and Oregon investment activity.

After the city of Santa Monica failed to submit a state-approved housing plan on time, developers raced to capitalize on the city's failures. Under California state law, developers in cities whose housing plans fall out of state compliance can turn to filing so-called “builder’s remedy” projects that do not require the usual consent of municipal councils or planning commissions. But how did this happen? TRD's Deconstruct chats with reporter Trevor Bach about why the city of Santa Monica is set to get more than 5,000 new units, whether cities can challenge these projects and how other regions may get a deluge of new housing.

Investors have flocked to purchase single-family homes across the U.S., as technology has made the asset class scaleable. But, how will the sector fare with inflation, increasing interest rates and a potential recession on the horizon? Deconstruct chats with Doug Brien, the CEO of single-family rental management and investment firm Mynd about why he's still bullish on the asset class.

Ahead of its third quarter earnings, TRD's Deconstruct chats with senior reporter Keith Larsen about where WeWork stands and how it’s going about cutting costs under CEO Sandeep Mathrani. The company faces a difficult road in its effort to bounce back from its disastrous 2019 IPO attempt and navigate a struggling office fundamentals at the same time.

We all know how mortgage rates have shot up over the last few months, as the Fed has hiked up rates to fight inflation. But, home prices remain stubbornly high across the country. So, what's the deal? Deconstruct chats with Redfin's chief economist Daryl Fairweather about discussed the impact of the rate shifts on first-time homebuyers and why a slowdown in sales activity has not coincided with a decline in prices.

It’s real estate trivia this week. A workhorse of the construction industry is now a disappearing resource. The catch: Few recognize the material is quickly slipping through our hands. TRD’s Deconstruct chats with reporter Kathryn Brenzel about the root of the crisis and how the industry can best adapt.