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

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

The CRE Exchange is your go-to podcast for all matters of commercial real estate. It hosts cutting-edge conversations with industry experts that offer CRE professionals timely insight into market behaviors and analysis to discover new opportunities and better manage risks and costs. We discuss Commercial Real Estate, Property Valuations, Real Estate Analytics, and Property Tax. Whether you buy or build, assist or advise, if you are a key stakeholder in the CRE space, this show is for you.

  1. Tariff turbulence and whipsawed markets

    MAR 13

    Tariff turbulence and whipsawed markets

    Cole Perry and Omar Eltorai unwrap the latest parcel of US economic data, from shifting labor and employment trends to insights from the NFIB Small Business Optimism Index. They explore what these signals suggest for small business growth and economic momentum. The conversation sharpens around market reactions to proposed tariffs, the ripple effects on monetary policy decisions, and the potential implications for commercial real estate investors navigating an unpredictable landscape.   Key Moments: 01:21 NFIB Small Business Optimism Index 08:00 Labor market data analysis 13:19 Market reactions to tariff policies 15:18 Impact of tariffs on real estate 29:30 President Trump's address to congress 32:51 Upcoming data releases and announcements   Resources Mentioned: NFIB Small Business Optimism Index - https://www.nfib.com/wp-content/uploads/2025/03/NFIB-SBET-Report-Feb.-2025.pdf ADP National Employment Report - https://mediacenter.adp.com/2025-03-05-ADP-National-Employment-Report-Private-Sector-Employment-Increased-by-77,000-Jobs-in-February-Annual-Pay-was-Up-4-7 The Challenger Report - https://www.challengergray.com/blog/job-cuts-surge-on-doge-actions-retail-woes-highest-monthly-total-since-july-2020/ BLS Employment Situation - https://www.bls.gov/news.release/empsit.toc.htm BLS JOLTS - https://www.bls.gov/jlt/ Balancing returns and responsibility - Strategic innovation in impact investing - https://www.altusgroup.com/insights/strategic-innovation-in-impact-investing/ 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

    36 min
  2. From GDP insights to policy potluck

    MAR 6

    From GDP insights to policy potluck

    Our hosts, Omar Eltorai and Cole Perry, deliver a packed agenda this week with a discussion on recently released economic data, including PCE, GDP, consumer confidence, and housing statistics. They also share a brief update on the state of the markets, focusing on movements in equities and fixed income, as well as the latest earnings reports from retailers. Finally, the team serves up a "policy potluck," where we cover a variety of topics from Washington, and provide updates on aggregate banking information.   Key Moments: 0:51 Economic data highlights 05:50 Market updates and retailer earnings 08:45 Housing market insights 12:08 Treasury yields and market movements 16:58 Retailer earnings deep dive 21:55 Policy potluck: Banking and government updates 39:23 Upcoming data releases and announcements   Resources Mentioned: 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

    42 min
  3. Tracking trends: Macroeconomic insights and real estate realities with Dr. Brad Case of Middleburg Communities

    FEB 27

    Tracking trends: Macroeconomic insights and real estate realities with Dr. Brad Case of Middleburg Communities

    We’re excited to welcome Dr. Brad Case, Chief Economist at Middleburg Communities, to the program! Dr. Case shares his extensive experience in real estate economics through his perspectives on market conditions, forecasting recessions, driving investment decisions with data, and the rise of the build-to-rent housing sector. Learn about the advantages Middleburg Communities have cultivated with their data modeling capabilities, better understand the macroeconomic environment, and explore the factors driving demand for residential rental communities. Key Moments: 01:31 Dr. Brad Case's background and career journey06:04 Middleburg Communities overview08:16 Role and contributions of a Chief Economist17:01 Build-to-rent community demand22:18 Current market environment and economic concerns33:19 Revenue management and market conditions36:16 Insights on private and public real estate markets39:34 Future of real estate transactions and technology Resources Mentioned: Middleburg Communities - https://www.middleburg.com/ 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

    43 min
  4. REIT results recap – Specialty REITs and brokerages

    FEB 19

    REIT results recap – Specialty REITs and brokerages

    Another week, another round-up of earnings releases and earnings management calls from the commercial real estate market. Last week, Omar Eltorai and Cole Perry covered REITs across the four major sectors. This week, they analyze calls from four specialty REITs and two brokerages, sharing performance metrics, key takeaways, and insights on prevailing trends. Key Moments: 00:50 - Earnings coverage: Specialty REITs and brokerages 01:55 - Macro update on retail sales 03:28 - Deep dive: Triple Net REIT analysis 07:20 - Specialty REITs: Timberland and tariffs 13:45 - Iron Mountain: Records and data Centers 19:12 - Equinix: Digital infrastructure and AI 23:57 - Brokerage Insights: CBRE and Newmark 32:49 - Upcoming REITs and data releases   Resources Mentioned: Q1 2025 CRE Industry Conditions and Sentiment Survey - https://altusdxm.qualtrics.com/jfe/form/SV_b9o1eKvI9zglrZc?Q_CHL=CREThisWeek Leave us a message! - https://www.speakpipe.com/CREexchange%C2%A0   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

    36 min
  5. REIT results recap – Major sectors Q4 2024

    FEB 13

    REIT results recap – Major sectors Q4 2024

    Every quarter, Omar Eltorai and Cole Perry listen in to the latest round of REIT earnings calls. The calls provide a glance into REIT portfolio performance, and some insight into what the management teams at these companies are focused on for the coming quarters. Today’s episode is devoted to covering a selection of calls they’ve listened into over the last couple of weeks touching on the company overviews, key results, and valuable nuggets they picked up during each call’s Q and A portion.   Key Moments: 00:50 - Overview of REIT earnings calls 01:42 - Retail sector insights 10:27 - Office sector insights 18:05 - Industrial sector insights 23:58 - Multifamily sector insights 33:17 - Upcoming data releases and REIT earnings calls   Resources Mentioned: Q1 2025 CRE Industry Conditions and Sentiment Survey - https://altusdxm.qualtrics.com/jfe/form/SV_b9o1eKvI9zglrZc?Q_CHL=CREThisWeek Leave us a message! - https://www.speakpipe.com/CREexchange%C2%A0   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

    37 min
  6. Rates, returns, and realities for US CRE

    FEB 6

    Rates, returns, and realities for US CRE

    CRE Exchange hosts Omar Eltorai and Cole Perry discuss the latest macroeconomic news, including the Federal Reserve's recent interest rate decision, along with data on housing, construction spending, and GDP releases. They also touch on what has been moving the markets with a look at recent earnings across banks and commercial real estate firms. Finally, they share a review of sentiment findings from CREFC’s most recent Board of Governors survey, and share a round-up of all the upcoming earnings calls and releases they will be monitoring over the next week.   Key Moments: 00:50 Macro Update: Inflation and Economic Indicators 04:36 Housing Market Insights 07:49 Construction Spending Analysis 11:55 Market Movements and Earnings Season 16:20 Bank Earnings and CRE Impact 18:58 Asset Management and REITs 22:25 CREFC Survey and Future Outlook 24:54 Upcoming Earnings Calls and Data Releases   Resources Mentioned: CREFC Board of Governors Survey - https://www.crefc.org/cre/content/News/Items/advocacy-items/CREFCs_4Q_2024_Sentiment_Index_Highlights_Broad_Optimism_as_Market_Dynamics_Stabilize.aspx FOMC Meeting - https://www.federalreserve.gov/monetarypolicy/fomcpresconf20250129.htm Bureau of Economic Analysis - Personal Income and Outlays release - https://www.bea.gov/data/income-saving/personal-income University of Michigan Survey of Consumers - http://www.sca.isr.umich.edu/  US Census Bureau’s new residential sales release - https://www.census.gov/construction/nrs/current/index.html US Census Bureau’s Construction Spending release - https://www.census.gov/construction/c30/current/index.html 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

    27 min
  7. US CRE debt market: 2024 recap and 2025 outlook with Stephen Buschbom

    JAN 30

    US CRE debt market: 2024 recap and 2025 outlook with Stephen Buschbom

    We welcome back Dr. Stephen Buschbom, co-host of The TreppWire Podcast and real estate and finance lecturer at Clemson University. Just over a year ago, Stephen joined us for an episode where he made a number of prescient calls on what lay ahead for 2024. In this episode, he joins Omar Eltorai and Cole Perry once again to share a retrospective on the 2024 US debt market, and discuss potential developments for 2025.   Key Moments: 01:26 Recap of 2024 predictions 02:50 Key debt market trends in 2024 03:32 Maturity defaults and loan performance 07:25 Regional market insights: Washington, DC and San Francisco 09:47 2024 market figures and issuance trends 14:20 SASB and conduit issuance analysis 18:53 Economic scenarios and 2025 outlook 38:47 Insurance market challenges 44:33 Predictions for 2025 Resources Mentioned: CREFC Miami Conference - https://www.crefc.org/january2025 CRE Exchange Podcast Episode EP21 – CRE debt market - Past, present and the future - https://www.altusgroup.com/podcasts/cre-exchange-cre-debt-market-past-present-future-with-stephen-buschbom-of-trepp/ The TreppWire Podcast - https://www.trepp.com/treppwire-podcast 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

    47 min
  8. Early CRE vibes for 2025: Moderate growth and cautious optimism?

    JAN 23

    Early CRE vibes for 2025: Moderate growth and cautious optimism?

    Omar and Cole kick off this week’s episode with some recent macro releases that help set the stage for 2025, then touch on some of what's happened in the capital markets since this year started. Finally, they share a number of initial industry themes for 2025 from the recent CREFC conference in Miami, and others based on personal observations of the commercial real estate market.   Key Moments: 01:23 Federal Reserve's Beige Book insights 06:38 Capital markets and economic indicators 07:50 Small Business Optimism Index and housing data 11:26 Retail sales and market reactions 21:58 Commercial Real Estate Finance Council Conference highlights 26:13 Legislative and regulatory priorities 31:25 Upcoming episodes and announcements   Resources Mentioned: Beige Book - https://www.federalreserve.gov/monetarypolicy/publications/beige-book-default.htm NFIB Small Business Optimism Index - https://www.nfib.com/news-article/optimism-index-reaches-six-year-high-as-inflation-remains-top-concern/ CREFC conference – Miami - https://www.crefc.org/january2025 Q4 2024 CRE Industry Conditions and Sentiment Survey - https://www.altusgroup.com/featured-insights/us-cre-industry-conditions-and-sentiment-survey/  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

    34 min
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    About

    The CRE Exchange is your go-to podcast for all matters of commercial real estate. It hosts cutting-edge conversations with industry experts that offer CRE professionals timely insight into market behaviors and analysis to discover new opportunities and better manage risks and costs. We discuss Commercial Real Estate, Property Valuations, Real Estate Analytics, and Property Tax. Whether you buy or build, assist or advise, if you are a key stakeholder in the CRE space, this show is for you.

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