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

Altus Group
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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. Multifamily myth busting, data, and what actually matters

    12/18/2025

    Multifamily myth busting, data, and what actually matters

    The biggest risk in multifamily right now isn’t oversupply, it’s misunderstanding the data. Jay Parsons joins CRE Exchange to discuss where public housing datasets fall short, why headline narratives around supply, rents, and defaults spread so quickly, and how investors should interpret conflicting signals as the market moves into its next phase.   Key moments 01:09 Jay Parsons' background and career 02:26 Evolving perspectives in rental housing 05:17 Supply and demand dynamics in multifamily housing 08:40 Demographic trends and housing preferences 11:36 Cost pressures and operational challenges 15:09 Interest rates and multifamily market impact 20:22 Affordability and nuances in rental housing 23:27 Historical context of housing affordability 25:00 Potential solutions to housing affordability 26:14 The role of GSEs in the housing market 28:51 Public vs. private data in housing 37:00 Misconceptions and myths in housing 40:50 Challenges in data collection and market segments   Resources mentioned Jay Parsons: https://jayparsons.com/ The Rent Roll: https://podcasts.apple.com/us/podcast/the-rent-roll-with-jay-parsons/id1770512765 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

    44 min
  2. What's driving demand for alternative CRE sectors in 2026

    12/11/2025

    What's driving demand for alternative CRE sectors in 2026

    Newmark’s President of Capital Markets, North America, Chad Lavender, breaks down the sector-by-sector changes that are redefining today’s capital markets. From the surge in data center demand to senior housing’s NOI outperformance and the resurgence of banks in lending, Chad share a well-defined read on where CRE capital is actually flowing, and why it matters heading into 2026.   Key Moments: 01:34 Chad Lavender's career journey 05:08 Overview of Newmark Capital Markets 07:35 Current trends in US CRE capital markets 16:40 Deep dive into alternative sectors 20:26 Healthcare and senior housing insights 25:19 Data centers and life sciences 31:39 Medical office, SFR, and BTR 36:35 Alternatives on the move and market structures   Resources Mentioned: Chad Lavender: https://www.linkedin.com/in/chad-lavender-03551bb/ Newmark: https://www.nmrk.com/services/investor-solutions/capital-markets 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

    41 min
  3. The CRE picture sharpens as delayed government data lands

    12/04/2025

    The CRE picture sharpens as delayed government data lands

    The latest wave of delayed government data is finally in, and it’s helping the CRE community reestablish a clearer view of the economy heading into 2026. Join Omar and Cole as they interpret new banking, retail, PPI, and sentiment indicators, translating them into implications for capital availability, demand, and development pipelines.   Key Moments: 01:12 Quarterly Banking Profile insights 05:49 Commercial real estate lending trends 10:36 Retail sales and economic indicators 13:02 Producer Price Index analysis 15:07 Federal Reserve's Beige Book highlights 22:42 Consumer Confidence and GDP Nowcast 28:11 Upcoming data releases and final thoughts   Resources Mentioned: FDIC Quarterly Banking Profile - https://www.fdic.gov/quarterly-banking-profile US Bureau of Labor and Statistics Producer Price Index - https://www.bls.gov/pPI/ US Census Bureau Advance Retail Trade Report - https://www.census.gov/retail/sales.html Federal Reserve Beige Book - https://www.federalreserve.gov/monetarypolicy/publications/beige-book-default.htm The Conference Board US Consumer Confidence Index - https://www.conference-board.org/topics/consumer-confidence/index.cfm GDP Now - https://www.atlantafed.org/cqer/research/gdpnow US Commercial Real Estate Transaction Analysis – Q3 2025 - https://www.altusgroup.com/insights/us-commercial-real-estate-transaction-analysis-q3-2025 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

    30 min
  4. Q3 surprise: Confirmations of a CRE turnaround?

    11/20/2025

    Q3 surprise: Confirmations of a CRE turnaround?

    Our hosts, Omar Eltorai and Cole Perry, unpack an unexpectedly strong Q3 2025, one that defied seasonal norms and signaled potential momentum building across US commercial real estate. They break down what drove transaction growth, why large deals may have returned, and how pricing trends varied across sectors and major metros. Tune into this data-rich recap for valuable context heading into year-end. Key Moments: 00:50 Overview of Q3 2025 and market environment 01:28 Macroeconomic trends and Federal Reserve actions 04:44 Credit and equity market performance 09:13 US CRE investment and transaction market in Q3 11:54 Detailed analysis of CRE pricing and pacing trends 20:20 Geographic differences in CRE market performance 25:46 Surprising trends and insights from Q3 data Resources Mentioned: Q3 2025 US CRE Investment and Transactions Quarterly report - https://www.altusgroup.com/featured-insights/cre-transactions/ 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. Q3 CRE earnings: Trends across lenders, REITs and brokers

    11/13/2025

    Q3 CRE earnings: Trends across lenders, REITs and brokers

    Every quarter, we dig into dozens of CRE earnings calls, tuning in, reading the releases, and looking for what really stands out. This time, we’re taking a different approach. Instead of focusing on individual companies, we’re pulling out the biggest themes across lenders, REITs, and brokers, from credit thawing to where capital is flowing next in 2026. Key Moments: 01:51 Lenders' insights and trends 06:41 Retail REIT earnings highlights 11:51 Office sector analysis 18:18 Industrial sector developments 26:30 Multifamily sector review 31:15 Brokerages and asset managers outlook 41:13 Overarching takeaways 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

    45 min
  6. Never bet against New York City: Bob Knakal talks markets, policy, and opportunity

    10/30/2025

    Never bet against New York City: Bob Knakal talks markets, policy, and opportunity

    Legendary New York broker Bob Knakal shares lessons from more than four decades shaping the city’s investment landscape. He discusses the founding of Massey Knakal, the power of specialization, and how zoning and policy continue to define opportunity. Knakal also explains why he’s integrating AI and data analysis into his brokerage, and why, despite political headwinds, he still believes you should never bet against New York.    Key Moments: 01:01 Meet Bob Knakal 03:24 The early days of Massey Knakal 04:50 Lessons learned and keys to success 08:14 The importance of market expertise 11:26 Founding BK Real Estate Advisors 13:14 Specialization and market changes 17:37 AI and technology in real estate 24:15 The unique challenges of the New York market 26:20 Current market cycles and trends 29:57 Impact of political changes on housing 32:42 Proposed solutions for housing issues 38:35 Future of New York real estate   Resources Mentioned: Bob Knakal - https://www.linkedin.com/in/bobknakal/ BKREA - https://www.bkrea.com/ 485-x Program - https://www.nyc.gov/site/hpd/services-and-information/tax-incentives-485-x.page Major Capital Improvement program - https://www.nyc.gov/site/finance/property/landlords-mci.page Individual Apartment Improvement program - https://hcr.ny.gov/apartment-iai-and-building-mci-improvements 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

    45 min
  7. Hello uncertainty, my old friend, we're back to cautious optimism again

    10/23/2025

    Hello uncertainty, my old friend, we're back to cautious optimism again

    What if the economy could sing? The CRE Exchange team explores what the Fed’s Beige Book, homebuilder sentiment, and recent banking data reveal about the broader economy, and how those trends ripple through commercial real estate. Our hosts, Omar Eltorai and Cole Perry, then turn to Peter Norman, Altus Group’s VP and Economic Strategist, for a deep dive into Canadian economic and CRE trends.   Key Moments: 01:34 Diving into the Fed Beige Book02:21 Labor market and employment trends03:30 Consumer spending and manufacturing Insights07:25 Home Builder Confidence Index10:43 Large Bank Credit Card and Mortgage Report13:57 Manufacturing Business Outlook Survey16:31 Non-Manufacturing Business Outlook Survey20:52 Canadian CRE trends with Peter Norman43:19 Upcoming events Resources Mentioned: Peter Norman – https://www.linkedin.com/in/peter-norman-20637043/ 2025 Canada State of the Market webinar – https://www.altusgroup.com/webinars/canada-state-of-the-market/ Federal Reserve Beige Book - https://www.federalreserve.gov/monetarypolicy/publications/beige-book-default.htm NAHB/Wells Fargo Housing Market Index - https://www.nahb.org/news-and-economics/housing-economics/indices/housing-market-index ISM Manufacturing PMI - https://www.ismworld.org/supply-management-news-and-reports/reports/ism-pmi-reports/pmi/september/ Philadelphia Fed Large Bank Credit Card and Mortgage Data - https://www.philadelphiafed.org/surveys-and-data/large-bank-credit-card-and-mortgage-data Philadelphia Fed Manufacturing Business Outlook Survey - https://www.philadelphiafed.org/surveys-and-data/regionaleconomy/manufacturing/business-outlook-survey Philadelphia Fed Nonmanufacturing Business Outlook Survey - https://www.philadelphiafed.org/surveys-and-data/regionaleconomy/nonmanufacturing/business-outlook-survey 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

    46 min
  8. Tracking the economy and CRE through a government data blackout

    10/16/2025

    Tracking the economy and CRE through a government data blackout

    Even with the federal data slowdown, there are still alternative indicators that give us a view into what’s happening in the US economy and commercial real estate. In this episode, our hosts, Omar Eltorai and Cole Perry, lean on data from private providers and trade organizations to uncover what’s happening across consumers, small businesses, labor, and financial markets and what it all means for CRE. They’re joined by Andrew Pabon from Altus Group’s Valuation Advisory team to share insights on the CRE debt space.   Key Moments: 01:31 Labor market indicators 05:35 Consumer data insights 13:21 Financial market conditions and business data 17:01 Small business economic trends 20:51 CRE credit trends and debt market insights 28:41 Interview with Andrew Pabon on the US CRE debt landscape 41:24 Upcoming economic data releases   Resources Mentioned: Andrew Pabon - https://www.linkedin.com/in/andrew-pabon-15a6976/ Altus Group CRE Debt Capital Markets Survey - https://www.altusgroup.com/featured-insights/cre-debt-capital-markets-survey-registration/ Alternative version of Kansas City Fed’s Labor Market Conditions Indicators (LMCI) - https://www.kansascityfed.org/research/economic-bulletin/an-alternative-version-of-the-kc-fed-lmci-suggests-little-change-in-the-labor-market-in-september/ University of Michigan Consumer Sentiment Index - https://www.sca.isr.umich.edu/ Federal Reserve G.19 Consumer Credit Report - https://www.federalreserve.gov/Releases/g19/current/ New York Fed Survey of Consumer Expectations - https://www.newyorkfed.org/microeconomics/sce#/ Chicago Fed's National Financial Conditions Index - https://www.chicagofed.org/research/data/nfci/current-data NFIB Small Business Economic Trends report - https://www.nfib-sbet.org/MainPage.html 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
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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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