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. REIT results recap – Specialty REITs and brokerages

    2 DAYS AGO

    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
  2. 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
  3. 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
  4. 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
  5. 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
  6. 2024 shifts and 2025 expectations - Insights from our latest CRE industry survey

    JAN 16

    2024 shifts and 2025 expectations - Insights from our latest CRE industry survey

    CRE Exchange hosts, Omar Eltorai and Cole Perry, share the Q4 2024 results from the CRE Industry Conditions and Sentiment Survey. They discuss major shifts in market perceptions of property pricing, top-performing property types, transaction intentions for 2025, expected capital availability, and the various risks and opportunities predicted for the coming year. Additionally, they spotlight their biggest takeaways and surprises from this quarter's results. Key Takeaways:  (00:56) Survey overview and objectives (01:47) Key findings: Pricing perceptions (03:43) Property sector performance insights (06:04) Transaction intentions and capital availability (09:41) Survey takeaways and future outlook (13:32) Surprises and priority issues (17:46) Accessing survey results Resources Mentioned: Q4 US CRE Conditions and Sentiment Survey report - https://www.altusgroup.com/featured-insights/us-cre-industry-conditions-and-sentiment-survey Q4 Canada CRE Conditions and Sentiment Survey report - https://www.altusgroup.com/featured-insights/canada-cre-industry-conditions-and-sentiment-survey 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

    20 min
  7. Dealing with distressed commercial real estate with Shlomo Chopp

    12/19/2024

    Dealing with distressed commercial real estate with Shlomo Chopp

    Shlomo Chopp, managing partner of Case Equity Partners, drops in for a discussion about distressed commercial real estate. Shlomo shares his career path and expertise in advisory, restructuring, investing, and asset and property management. Chopp provides an in depth perspective, and important lessons on the complexities of investing in and restructuring distressed CRE assets. He also details the challenges of the current market environment, the importance of strategic planning for borrowers, and the disconnect between lenders ang borrowers. Key Takeaways: (01:36) Shlomo’s career journey (06:59) Founding Case Equity Partners (08:03) Navigating distressed assets (12:15) Due diligence in deal assessment and client selection  (21:17) Challenges and solutions for borrowers (27:26) Investing in distressed properties (30:12) Navigating tight liquidity in deals (31:25) Current macro and market environment (33:48) Interconnectivity and distressed sales (34:47) Challenges in commercial real estate (45:49) Restructuring and market realities (48:21) Innovation and technology in real estate (50:47) Staying up-to-date in CRE debt (54:19) Final thoughts and industry changes Resources Mentioned: Shlomo Chopp - https://www.linkedin.com/in/chopp/ Case Equity Partners | LinkedIn - https://www.linkedin.com/company/case-equity-partners-llc/ Case Equity Partners | Website - https://www.caseinv.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

    59 min
  8. Macro moves, market metrics, and tariff talk

    12/05/2024

    Macro moves, market metrics, and tariff talk

    Our hosts, Omar Eltorai and Cole Perry, share a round-up of the latest macroeconomic indicators, upcoming policy changes, and CRE market matters both present and future. During the episode, they review US economic releases covering GDP, inflation, housing, construction, and manufacturing data; discuss upcoming moves by the incoming administration, including potential effects of tariffs planned for the new year; and analyze recent retail earnings calls along with preliminary retail data for Black Friday. They wrap up with some observations and important questions about the market outlook for 2025. Key Takeaways: 00:48 - Macro releases: GDP, inflation, and more 05:31 - Housing and construction data insights 10:47 - Policy and market reactions 14:44 - Potential tariffs in 2025 19:32 - Credit and equity market updates 29:16 - Retail sector performance and Black Friday data 37:11 - Looking ahead to 2025 43:59 - Upcoming earnings calls and economic data 45:26 - Announcement and closing remarks Resources Mentioned:  Q3 2024 US CRE Investment and Transactions Quarterly report US commercial real estate investment trends and transaction volume: https://www.altusgroup.com/featured-insights/cre-transactions/ US commercial real estate investment sales - pricing and pacing: https://www.altusgroup.com/featured-insights/cre-transactions/pricing-pacing/ US commercial real estate investment sales - property sectors: https://www.altusgroup.com/featured-insights/cre-transactions/property-sectors/ US commercial real estate investment sales - markets: https://www.altusgroup.com/featured-insights/cre-transactions/markets/  The 5 US cities for retail investing that are most likely to outperform benchmarks - https://www.altusgroup.com/insights/5-us-cities-for-retail-investing-to-outperform-benchmarks/  CRE market hits lowest transaction count since 2011 https://www.globest.com/2024/11/21/cre-borrowers-split-on-financing-outlook-despite-improving-economic-conditions/  Commercial real estate recovery hinted at in report https://www.mpamag.com/us/specialty/commercial/commercial-real-estate-recovery-hinted-at-in-report/516261 CRE investment falls to decade low, but that could soon change https://www.bisnow.com/national/news/capital-markets/report-finds-cre-investment-has-hit-a-decade-low-but-that-could-soon-change-126978  Leave us a message! - https://www.speakpipe.com/CREexchange  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

    48 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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