In this week's episode of The TreppWire Podcast, we examine Moody's downgrade of the US credit rating alongside mixed economic signals including hotter-than-expected PPI data and declining consumer sentiment. We analyze diverging retail performance with Walmart showing resilience while Target struggles with falling transactions, and discuss retail property stories including mall challenges and positive leasing activity. We highlight office green shoots with a major Manhattan acquisition while covering significant value reductions across multiple markets. We explore government lease portfolio challenges amid DOGE initiatives, examine a major mixed-use value reduction, and close with a large Phoenix hotel sale marking one of the year's biggest lodging transactions. Tune in now.

Episode Notes:

• Economic Update & Moody's Downgrade (0:28)

• Retail Earnings & Tariff Impact (10:28)

• Retail Stories & Trading Alerts (16:40)

• Office Green Shoots: Manhattan Deals (23:28)

• Office Trading Alerts & Value Reductions (27:16)

• Mixed-Use Trading Alert: Chicago (40:12)

• Lodging Transaction: Phoenix Hotel Sale (44:53)

• Programming Notes (46:21)

• Shoutouts (48:12)

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In this special guest episode of The TreppWire Podcast we are joined by Gary Bechtel, CEO of Red Oak Capital Holdings LLC. Gary shares his journey into the commercial mortgage industry and discusses the cyclical nature of the industry. He shares what differentiates Red Oak’s approach to structuring deals compared to other private lenders, as well as the asset classes and geographic markets he sees as most attractive right now. We discuss office space conversion, multifamily trends, and the expansion of the firm's product offerings to include FHA lending programs. Gary provides his outlook for capital markets in the next 12-18 months, and gives his advice for lenders and borrowers in the space. Tune in now.

Episode Notes:

• Introduction & Background

• Cyclical Nature of the Industry

• Navigating Distress Cycles

• Office Space Conversion & Multifamily Trends

• Expanding Product Offerings

• Importance of Transparency in Business

• Passion for Real Estate & Racing

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Questions or comments? Contact us at podcast@trepp.com. 
 

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In this week's episode of The TreppWire Podcast, we unpack key insights from the recent Trepp Connect (in NYC) commercial real estate (CRE) event, sharing perspectives across property types and executive sentiment. While uncertainty remains, many participants expressed cautious optimism about the market’s direction. We break down thelatest economic developments, including inflation data, the 10 Year Treasury Yield, and market responses to tariff negotiations. We highlight the importance of upcoming retail earnings as a gauge of consumer strength and share positiveretail transactions from the week, including Old Navy’s NYC retail lease, as well as some major industrial transactions. Tune in now.

Episode Notes

• Economic Update
• 10 Year Treasury Yield
• Trepp Connect (in NYC)

• Old Navy NYC Retail Lease
• Amazon Purchase Price
• NY Office Loan Transferred to Special Servicing
• Industrial Transactions
• Programming Notes
• Shoutouts

Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG

Questions or comments? Contact us at podcast@trepp.com.

Follow Trepp:

X: www.x.com/TreppWire

LinkedIn: www.linkedin.com/company/trepp