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. Why 2026 could be a surprisingly strong year for CRE credit

    JAN 29

    Why 2026 could be a surprisingly strong year for CRE credit

    What does the CRE credit landscape really look like heading into 2026? Cole Perry is joined by Andy Boettcher, Head of Research at Trepp, to pull back the curtain on bank lending behavior, refinancing risk, extensions, and why fears around the “maturity wall” may be overstated. Drawing on decades of experience from the Federal Reserve to today’s lending data, Andy offers a seasoned, data-driven outlook on where CRE credit is stabilizing, and where it’s still sorting itself out.   Key Moments: 01:53 Andy’s Background and career journey 07:06 From the Fed to Trepp 09:53 Macro and CRE market analysis 16:34 Bank lending vs. CMBS market 25:53 2026 forecast and predictions 27:45 Final thoughts and industry wishes   Resources Mentioned: Andy Boettcher - https://www.linkedin.com/in/aboettcher/   Trepp - https://www.trepp.com/   Federal Reserve H.8 Report – Weekly Assets and Liabilities of Commercial Banks - https://www.federalreserve.gov/releases/h8/current/default.htm   Federal Reserve Z.1 Financial Accounts of the United States - https://www.federalreserve.gov/releases/z1/   Atlanta Fed GDPNow - https://www.atlantafed.org/cqer/research/gdpnow   New York Fed Staff Nowcast - https://www.newyorkfed.org/research/policy/nowcast    What CREFC Miami revealed about CRE debt markets in 2026 - https://www.altusgroup.com/insights/what-crefc-miami-revealed-about-cre-debt-markets-in-2026 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

    29 min
  2. Data and policy shaping the early 2026 CRE market

    JAN 15

    Data and policy shaping the early 2026 CRE market

    We examine the economic data and policy developments setting the tone for the US commercial real estate market in early 2026.  Discussing what recent labor reports, GDP estimates, and financing trends suggest about growth, risk, and capital markets conditions heading into the year. The conversation also turns to housing policy, including new local initiatives and national proposals, and how these policy signals could influence supply, affordability, and investment strategy across CRE sectors.   Key Moments: 00:58 Key statistics and market trends 03:26 Economic data and labor market insights 07:56 GDP and service sector analysis 12:18 Housing market update 15:13 Consumer data and AI impact 19:03 Housing policy and national proposals 27:34 Upcoming events and announcements   Resources Mentioned: Debt Capital Market Survey - https://www.altusgroup.com/featured-insights/cre-debt-capital-markets-survey-registration/ Altus Connect Conference - https://events.altusgroup.com/event/altus-connect-2026/summary Job Openings and Labor Turnover Survey (JOLTS) - https://www.bls.gov/jlt/ ADP National Employment Report - https://adpemploymentreport.com/ BLS Employment Situation / December Jobs Report - https://www.bls.gov/news.release/empsit.htm Atlanta Fed GDPNow Estimate - https://www.atlantafed.org/cqer/research/gdpnow S&P Global US Services PMI - https://www.pmi.spglobal.com/ ISM Services PMI - https://www.ismworld.org/supply-management-news-and-reports/reports/ism-reports/ Consumer Credit (G19) - https://www.federalreserve.gov/releases/g19/current/ University of Michigan Consumer Sentiment Index - https://data.sca.isr.umich.edu/ 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

    31 min
  3. 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
  4. 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
  5. 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
  6. 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
  7. 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
  8. 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
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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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