The TreppWire Podcast: A Commercial Real Estate Show

The TreppWire Podcast, A CRE Show
  • 4.8 (214)
  • BUSINESS
  • UPDATED WEEKLY

Leveraging Trepp’s market expertise and proprietary data sets, The TreppWire Podcast enables listeners to stay up-to-date on all things commercial real estate, structured finance and banking. Featuring Trepp subject matter experts and guests from across the industry, the weekly podcast explores how recent events have impacted both the markets and the daily lives of market participants. Questions or comments? Please contact us at podcast@trepp.com.

  1. 5D AGO

    386. Escalate to De-Escalate: Bank Capital & Lending Shifts, CRE Fundraising, Construction Cost Pressures, & More

    In this week’s episode of The TreppWire Podcast, we break down a market defined by volatility and an “escalate‑to‑de‑escalate” dynamic playing out in real time. We unpack the sharp intraday reversals in rates as weak Treasury demand and inflation concerns push yields higher, only to be pulled back by intermittent hopes for de‑escalation. We also examine new Federal Reserve proposals aimed at reducing bank capital requirements for commercial real estate (CRE) loans, a potential catalyst for increased lending capacity at a critical point in the cycle. We also cover key CRE headlines, including a $166.8 million data center land sale in Virginia, notable office financings at One Madison Avenue and San Francisco’s Merchants Exchange, and Nordstrom’s upcoming store closure at Galleria Dallas. Tune in now. Episode notes: Economic Update: Market Volatility & Banking (0:29)CMBS Spreads Performance in the Past Month (12:59)Commercial Real Estate Fundraising (16:37) Bank Capital Requirements Framework Update (24:02)Starwood’s Data Center Land Deal in Virginia (33:42)Office: SL Green's $1.65 billion refinancing of One Madison Avenue and Exonic's $50 million loan against the Merchants Exchange building in San Francisco (38:39)Mixed Use: JP Morgan & Vici Lend $4.3B for One Beverly Hills Completion (41:51)Nordstrom Store Closing at Galleria Dallas (43:39)Programming Notes (49:37)Shoutouts (50:48) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

    57 min

  2. MAR 20

    385. Market Shocks: Oil Prices Reframe the Macro, Six Years Post-COVID, Self-Storage Consolidation, & Office Green Shoots

    In this week’s episode of The TreppWire Podcast, we examine the Fed's decision to hold rates steady against a rapidly escalating geopolitical energy shock that is re-accelerating inflation and effectively taking rate relief off the table for CRE borrowers. We also look back six years to when COVID shocked the world and walk through Trepp data to review how each property sector held up, recovered, and in some cases still has not fully healed. We analyze the $5.6 billion Public Storage acquisition of National Storage Affiliates and what CMBS data reveals about self-storage performance. We close with office green shoots, including Bank of America's 20-year lease at One Bryant Park, OpenAI surpassing 1 million square feet in San Francisco, a Wells Fargo SASB financing in Silicon Valley, and Starbucks expanding to Nashville. Tune in now. Episode notes: • Economic Update: Fed Holds, Iran Energy Shock & Higher-for-Longer (2:08) • Six years post-COVID: CRE Delinquency Retrospective by Property Type (12:48) • COVID Lessons: Modifications, Policy Response & Structural Shift (16:22) • Self-Storage: Public Storage & NSA Deal, and CMBS Performance (34:11) • Office Stories: BofA at One Bryant Park, OpenAI, Wells Fargo SASB & Starbucks Nashville (41:09) • Trading Alerts: Manhattan, Chicago, Virginia & Office Special Servicing Transfers (47:56) • Programming Notes (48:50) • Shoutouts (52:29) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

    55 min

  3. MAR 13

    384. Volatility Returns: Oil Shock, Two Market Risks, Student Housing Exposure, Savills-Eastdil Deal, & More Impactful Headlines

    In this week’s episode of The TreppWire Podcast, we break down how the spike in oil is affecting the broader economy and discuss how the energy shock is adding new uncertainty to inflation, Fed policy, and market sentiment. We also analyze the state of the student housing market as March Madness approaches and examine proposed housing legislation that could reshape the single-family rental landscape. In commercial real estate (CRE) news, we cover a major industry consolidation as Savills is reportedly set to acquire Eastdil Secured in a deal valued at $1.2 billion. We highlight insights from Trepp’s latest CMBS Special Servicing Report, review recent trends in the Trepp Property Price Index (TPPI), and discuss several significant headlines and transactions from the week, including Manhattan office tower valuations falling below their COVID-era lows. Tune in now. Episode notes: Economic Update: Market Volatility & Oil Impact (0:29)Student Housing Market Analysis (12:04) Single-Family Rental Property Bill (18:45)Savills Acquisition of Eastdil (24:50)CMBS Special Servicing Report & TPPI (28:02)Manhattan Office Tower Values Plummeting Below COVID-Era Levels (30:22)Multifamily Transactions: Philadelphia & Phoenix (33:44)Fort Worth Texas Industrial Complex (41:02)Programming Notes (42:05)Shoutouts (44:13) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

    47 min

  4. MAR 6

    383. Gulf Shock & Market Resilience: Ides of March Returns, YTD CRE CLO Issuance & SASB AAA Downgrades

    In this week’s episode of The TreppWire Podcast, we examine rising Middle East tensions following US-Israeli strikes on Iran, including Iranian drone damage to Amazon data centers in the Gulf, and the ripple effects on oil prices and the 10-year Treasury. We cover the reversal of the 10-year Treasury back above 4%, rising oil prices, and record redemption requests at Blackstone's private credit fund. We review Trepp's February CMBS delinquency data, take a deep dive into the surging CRE CLO market, and break down $7.6 billion in SASB AAA downgrades. We close with a trading alert on the Minneapolis City Center loan and Target's surprise lease buyout. Tune in now. Episode notes: • Economic Update: Labor Data, Middle East Conflict & Ides of March Superstition (1:14) • Iranian Drone Strikes on Amazon Middle East Facilities (15:35) • Treasury Yields & Oil: Market Reaction to Gulf Conflict (18:55) • Blackstone Private Credit Fund: Record Redemptions & Liquidity Response (22:05) • CMBS Delinquency Report: Rate Declined, Led by Large Office & Retail Loan Extensions (26:19) • CRE CLO Market: Record 2026 Issuance Pace (33:21) • SASB Ratings Migrations & SF Office Losses (40:33) • Programming Notes (53:26) • Shoutouts (56:02) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

    1h 1m

  5. FEB 27

    382. Resilience or Repricing? Private Credit, CMBS Market Sentiment, Office Signals, and Trading Alerts

    In this week’s episode of The TreppWire Podcast, we explore whether current market conditions reflect resilience or the early stages of repricing. We break down mixed inflation signals, the Supreme Court’s tariff ruling, and what policy uncertainty means for rates and risk appetite. We dig into private credit volatility and rising selectivity, CMBS issuance sentiment coming out of the SFVegas conference, cash-in refinancings, and new examples of office repricing from Chicago to San Francisco. We also cover fresh Trepp trading alerts and what servicer data is signaling across property types. Tune in now. Episode notes: Economic Update (1:51)TJ Maxx/Loews (14:24)SFVegas 2026 Inights (19:54)Chicago West Jackson Property (29:28) Amex Global HQ 2 WTC (32:07)Shvo Transamerica Pyramid Up for Sale (34:15)JP Morgan, Zenith Secure $130M Refi From KeyBank for IOS (37:44)NYC Multifamily Value Reduced Heavily, Expected to Exit Special Servicing (39:55)Programming Notes: LifeComps Report & More (42:28)Shoutouts (45:39) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

    49 min

  6. FEB 20

    381. Quiet Week, Loud Signals: Data Center Hyperdrive, Industrial Rankings, Office & Retail Trading Alerts

    In this week's episode of The TreppWire Podcast, we highlight softer‑than‑expected inflation, market takeaways from the Fed minutes, and key data releases on deck in a shortened week. We talk about key developments in affordable housing cand multifamily markets, followed by a look at data center growth and why Texas could be emerging as the next major hub. In a “digging through the data” segment, we do a deep dive into industrial performance across the top MSAs by occupancy, delinquency and average revenue per square foot. We break down office trading alerts for a Queens office and Chicago SASB loan, along with retail trading alerts involving loans from Saks Fifth Avenue and Paramus Park. We also discuss Palisade Center’s post‑foreclosure sale and wrap with Wendy’s plans to close 300 stores and the implications for retail and franchise operators. Tune in now. Episode notes: Economic Update (1:44)Affordable Housing Construction Progress (13:18)Data Center Market Growth: JLL Report (20:31)Industrial Deep Dive: Top MSAs by Occupancy, Delinquency & Average Revenue per Sq Ft (29:39)Industrial Headlines of the Week (35:35)Office Trading Alerts: Queens Loan & Chicago SASB Loan (37:55) Retail Trading Alerts: Saks Fifth Avenue & Paramus Park Loans (45:15)Palisade Center Sells After Foreclosure (48:07) Wendy’s Closing 300 Stores (49:32)Programming Notes (52:01)Shoutouts (54:37) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

    58 min

  7. FEB 17

    380. How Larry Connor Built a Multi-Billion-Dollar Multifamily Machine

    In this special guest episode of The TreppWire Podcast, we sit down with Larry Connor, Founder and Managing Partner of The Connor Group, one of the largest privately held multifamily investment firms in the U.S. Larry shares how he went from a failed business venture to building a multi-billion-dollar multifamily platform grounded in operational discipline. He explains why operations, not renovations, drive the greatest value creation, how his team uses real-time data and AI to measure resident satisfaction, and why the 2020- 2022 liquidity era created a market that couldn’t last. Beyond real estate, Larry reflects on serving as pilot on Axiom Mission 1 to the International Space Station and participating in other demanding expeditions, outlining the philosophy of disciplined risk, preparation, and purpose that guides both his missions and his investment strategy. He closes with advice for builders and operators alike: aim high and don’t self-limit. Tune in now. Episode Notes Background & Start in Real Estate (1:10)Parallels Between AI & Introduction of Computers (4:09) Tenant Satisfaction & Property Value (4:39)Real Estate Market Predictions (12:43)The Connor Group Investment Strategy (17:14)Adventures and Philanthropy (24:12)  Questions or comments?Contact us at podcast@trepp.com.     Follow Trepp:   X: www.x.com/TreppWire  LinkedIn: www.linkedin.com/company/trepp

    38 min

  8. FEB 13

    379. Squaring the Macro Circle, The Retail Rationalization, Multifamily Recalibration, & Lodging Capital Rotation

    In this week’s episode of The TreppWire Podcast, we break down the growing disconnect between headline strength and underlying softness in the economy. Retail sales came in flat, jobs surprised to the upside, and sweeping BLS revisions quietly erased nearly 900,000 jobs from 2025 totals, leaving markets to reconcile conflicting signals. In commercial real estate, a wave of store closures from legacy brands like Eddie Bauer, Pizza Hut, Red Lobster, and Saks made headlines, but we explain why this looks more like retail rationalization than another apocalypse. In multifamily, we analyze Camden’s decision to exit California, the rent-setting software antitrust settlement, Los Angeles’ new adaptive reuse ordinance, and recent transactions in Quincy, Wilmington, and Charlotte. On the lodging side, we cover a $372 million Nashville hotel construction loan, Gencom’s acquisition of the Ritz-Carlton Central Park, and the Waldorf Astoria returning to the market after a $4 billion-plus renovation. We close with a preview of Trepp’s upcoming CMBS maturity playbook. Tune in now. Episode notes: Economic Update: Retail Sales, Jobs Report & BLS Revisions (1:52)Retail Store Closures (8:22)Multifamily Deep Dive: Camden's California Exit, Rent Control, Antitrust Settlement & Adaptive Reuse (19:38)Multifamily Transactions: Quincy, MA; Wilmington, DE; Charlotte, NC (35:44)Lodging: Nashville Construction Loan, Ritz-Carlton Acquisition & Waldorf Astoria Sale (38:37)Programming Notes (46:08)Shoutouts (53:31) Questions or comments? Contact us at podcast@trepp.com. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

    56 min
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About

Leveraging Trepp’s market expertise and proprietary data sets, The TreppWire Podcast enables listeners to stay up-to-date on all things commercial real estate, structured finance and banking. Featuring Trepp subject matter experts and guests from across the industry, the weekly podcast explores how recent events have impacted both the markets and the daily lives of market participants. Questions or comments? Please contact us at podcast@trepp.com.

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