Front & Center

In our latest episode of Front & Center, Uma Moriarity is joined by Managing Directors Jeff Reder and Rob Holuba to discuss their expectations for the private equity real estate market in the coming year. The conversation begins by examining the current phase of the real estate market cycle and the potential for a reset in valuations. The impact of the credit market on the investment landscape is also explored, with a focus on the availability and cost of debt. “Investing with Insight in the Private Markets” delves into the bid-ask spread and price discovery, as well as the opportunities in the retail, industrial, and housing sectors. Uma, Jeff and Rob go on to highlight the importance of value-add opportunities and the potential impact of a weakening consumer on the retail sector. The episode concludes with the group sharing their overall expectations for the coming year.

This week on Front & Center, Uma Moriarity welcomes back managing directors Michael Boxer and Richard Gorsky to provide their insights into the latest trends and developments within the real estate debt landscape. The conversation begins by examining the current lending environment, drawing comparisons to previous cycles and highlighting both unique challenges and advantages that have shaped the market. “Strategies for Success in an Evolving Debt Landscape” goes on to address the wall of maturities approaching in 2024, and sheds light upon the potential outcomes for lenders in the coming year. The group then examines the role of alternative debt providers within the market, focusing on fundamentally distressed assets and those needing to resize their capital structure. The episode wraps up with Michael and Richard sharing their optimism for the coming year, highlighting potential opportunities for lenders to thoughtfully deploy capital in 2024.

This week, Uma Moriarity is joined by portfolio managers Alex Snyder, Matthew Goulding, and Joachim Kehr to analyze the outlook for Global REITs in 2024. Starting with a discussion to understand the economic outlook across global markets, the group then explores fundamentals and capital markets impacting property sectors from data centers to the Chinese housing market and everything in between. “Global Perspectives on Listed REITs” delves into sector-specific expectations around the world and offers a comprehensive overview of global REITs, highlighting key trends and opportunities for navigating the global real estate landscape in 2024.

In our first episode of the year, Uma Moriarity is joined by CenterSquare’s CEO and CIO, Todd Briddell, to kick off our 2024 outlook series featuring a variety of thought leaders across the firm sharing their insights for the upcoming year. The conversation starts with Todd and Uma breaking down key factors impacting real estate today, underlining the influence of fundamentals, capital markets and government policies on the real estate investment landscape. This first episode of our 2024 outlook series titled “Setting the Stage,” explores the impact of interest rates upon pricing, highlighting challenges and opportunities within the real estate market, and discusses strategies for generating alpha across public and private real estate investment strategies in 2024.

In our final episode of the year, Uma Moriarity welcomes back Portfolio Manager Alex Snyder to discuss key events that shaped the commercial real estate market in 2023. “2023 Year in Review” explores the surprising economic resilience, evolution of interest rates, and tightening credit environment before diving into the highs and lows of various sectors over the past year. As the episode wraps up, we offer a glimpse into what to expect in the upcoming year, with Front & Center returning in January for our 2024 outlook series featuring a variety of firm thought leaders. Happy holidays to our listeners, and we look forward to bringing you more insights next year.

In this episode, Managing Director and Head of Strategic Capital Chad Burkhardt joins Uma Moriarity to discuss the world of investing in real estate operating companies (REOCs) and the appeal of investing in platforms. The conversation then explores the current transaction environment, highlighting challenges and opportunities amid ongoing market changes. "Navigating the REOC Universe" offers valuable insights into capital movements, shedding light on sidelined capital, and influencing factors in institutional investors' allocations.

This week, Front & Center host Uma Moriarity is joined again by Portfolio and Regional Manager Matthew Goulding, for a timely discussion on the state of the European REIT market. The episode opens with Uma and Matthew analyzing recent market trends across the continent, offering insights into the impact of inflation, monetary policy, and interest rates. “European REITs and Real Estate Trends” provides a comprehensive look into European REIT fundamentals, offering key takeaways from recent earnings releases and exploring performance across various sectors. The conversation concludes with an analysis of valuations, deciphering significant discounts between public and private markets and shedding light upon the dynamics that continue to shape the industry.

This week on Front & Center Uma Moriarity is joined by Patrick Wilson, Portfolio Manager for CenterSquare’s Listed Real Estate Platform to wrap up U.S. REITs earnings season and provide a comprehensive update on various property types and markets. The conversation starts by synthesizing fundamentals across the industrial, residential, and retail sectors and closes with a discussion about the general capital strength of REITs, focusing on leverage levels and potential opportunities arising within the current real estate cycle. “REIT Earnings Recap” highlights key takeaways and thematics across the broader real estate landscape, providing valuable insights for listeners as REITs earnings season draws to a close and we approach the end of the year.

This week, Uma Moriarity welcomes back Portfolio and Regional Manager Joachim Kehr to discuss key takeaways from earnings season across the Asia-Pacific region. They provide updates on a variety of sectors, analyzing how consumer trends will continue to impact fundamentals across the broader real estate market. “APAC Earnings Season Takeaways” highlights the driving forces behind public and private market valuations across the region and offers a detailed snapshot of today’s APAC real estate landscape, encompassing the industrial, retail, residential, and office sectors and providing expectations through the end of the year.

This week, Co-Hosts Scott Crowe and Uma Moriarity are joined by Richard Gorsky, Managing Director for our Private Real Estate Debt platform, for a timely discussion on the state of the real estate debt market. The group begins by reviewing the changes we’ve seen in the debt landscape as treasury yields have materially increased, digging into how evolving trends and tightening credit standards will lead to a real estate repricing. “Resetting the Real Estate Debt Landscape” examines the “wall of maturities” approaching in 2024, exploring the challenges currently faced by real estate owners and strategies employed to navigate reset valuations. The group closes out the conversation by examining compelling opportunities that may arise as transaction volumes increase heading into next year.