CPE Podcasts

Commercial Property Executive

CPE Podcasts is a multi-series channel produced by Commercial Property Executive, exploring issues and trends across the U.S. commercial real estate industry. Find out more on our website: www.cpexecutive.com

  1. Sep 8

    Investment Matters: Frank Talk About Opportunity

    Frank Forte was the kind of kid who was already fascinated by Wall Street by the time he was about 15. He was a whiz at math, and rather precociously, he also loved reading about options, derivatives and the market. But even back then commercial real estate was on his radar, too. After a few well-timed twists and turns early in his career, he made his path into real estate investment. Ten years ago, he co-founded a private equity investment firm that he named Lucern Capital Partners, which he runs with David Hansel, the firm's co-founder and managing partner. Since then, he’s been involved in transactions valued at more than $380 million across a wide swath of the East Coast. Lately he’s been finding attractive opportunities in the burgeoning small-bay industrial market at a time when he believes the larger industrial sector has become overbuilt. Forte discusses the economic climate that's impacting the decision-making of his customers and prospects. He talks about the bid-ask gap and his strategy for underwriting potential deals. In our conversation, my guest addresses what it takes to build a successful commercial real estate investment business and offers caveats about the traps that new participants can fall into. He emphasizes the importance of taking a clear-eyed view of market opportunities. And he cautions against buying into the myth that commercial real estate is some kind of get-rich-quick scheme. He told me that "what people don't see is (that) to really generate the value, you need to roll up your sleeves, and you need to be a good operator.” Yet for all the hard work that success demands, Forte doesn’t think of it as being a grind. As he puts it: “I feel like I never work a day in my life, so I'm very lucky.” Take a listen. Follow, rate and review CPE’s podcasts on Spotify and Apple Podcasts, and don’t forget to subscribe to CPE’s YouTube channel! Episode highlights: (1:47) Launching a new investment platform(4:28) What’s in a company name(7:06) Career origins, from Wall Street dreams to private equity success(11:05) Finding big opportunities in small-bay(16:02) Lucern’s geographic sweet spot(17:29) Caveats for new investors: play the long game(19:30) The keys to operational excellence(23:48) Navigating capital market complexities(26:16) How volatility is impacting leasing velocity(29:46) Inside the bid-ask gap(32:28) Underwriting in an unsettled market(34:01) Plan for powering through ’27 and ’28(36:32) Executive off the clock: it’s a shore thing

    Investment Matters: Frank Talk About Opportunity
  2. Aug 5

    Investment Matters: Midsummer Market Snapshot

    In this episode, Investment Matters host Paul Rosta discusses today's hot commercial real estate investment and capital markets trends with CPE Executive Editor Therese Fitzgerald. With all the moving parts in the market today, midyear is a good time to take stock of what’s really shaping commercial real estate finance and investment. This month’s guest constantly keeps her ear to the ground for the most important trends.  Therese Fitzgerald is the longtime finance and investment editor here at CPE.  She brings her expertise to her role as the editor of the CPE Capital Markets newsletter, and she advises our team on covering this dynamic sector. During this episode, she discusses the economic, policy and capital markets issues that will shape investment during the second half of the year and beyond. And as I do with the industry executives who join me as guests on this podcast, I asked Therese to tell us about her career origin story, highlights and turning points. She shares insights into how commercial real estate and business journalism have changed in the past couple of decades and what to look for in the future. Take a listen. Episode highlights: ·      (1:20) Unconventional journey in journalism ·      (4:03) Coming full circle ·     (5:44) The new dimensions of covering CRE ·     (6:26) Adjusting to new market realities ·      (8:09) The bifurcation factor ·      (9:29) Refi’s “sliding glass door” ·      (11:04) Key policy trends to watch ·      (12:52) Investment strategy and energy issues: connecting the dots ·      (13:44) Covering the investment and finance waterfront ·      (16:15) The ins and outs of today’s M&As ·      (18:42) CRE finance’s changing picture ·       (20:33) Don’t underestimate this trend ·      (21:50) Off the clock: hitting the books and theaters For more great investment and finance content, subscribe to the CPE Capital Markets Newsletter, which is curated twice each month by my guest and colleague, CPE executive editor Therese Fitzgerald. To subscribe, just go to: https://www.commercialsearch.com/news/subscriptions/ Follow, rate and review CPE’s podcasts on Spotify and Apple Podcasts, and don’t forget to subscribe to CPE’s YouTube channel!

    Investment Matters: Midsummer Market Snapshot
  3. Jul 31

    Step Into My Office: Orange County’s Tale of Two Markets

    Orange County’s office market is moving from correction to recalibration. While the sector is still navigating the effects of right-sizing and post-pandemic occupancy shifts, CBRE’s latest report points to a market that is gradually finding its footing. With vacancy remaining relatively steady at 13.3 percent and negative net absorption narrowing compared to the first quarter, Orange County appears to be moving closer to balance. In this episode of Step Into My Office, CPE’s Olivia Bunescu talks with Allison Kelly, senior vice president at CBRE, about what is driving Orange County’s office market now. Kelly discusses stabilizing fundamentals, the Greater Airport Area, the split between long-term owners and new high-net-worth buyers, institutional capital’s hesitation and why Class A assets continue to outperform older commodity buildings. For Kelly, Orange County’s next phase will be defined less by a broad office rebound and more by how each property is positioned within a market where stability, redevelopment and flight to quality are all happening at once. Here’s what they discussed: Orange County’s stabilizing office fundamentals (01:30)The market’s recovery is rooted in occupier diversity (03:03)Which tenants are driving demand? (05:05)From negative absorption to a positive trajectory (07:39)Submarkets leading leasing momentum (08:34)A tale of two ownership structures (10:44)Why institutional capital remains hesitant on office (15:10)Spec suites and move-in-ready space gain traction (17:22)Class A assets outperform, as older buildings seek new uses (20:35)What’s on top of the list for occupiers? (22:27)Stability, growth and redevelopment ahead (25:16)

    Step Into My Office: Orange County’s Tale of Two Markets

About

CPE Podcasts is a multi-series channel produced by Commercial Property Executive, exploring issues and trends across the U.S. commercial real estate industry. Find out more on our website: www.cpexecutive.com

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