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

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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

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In this week's episode of The TreppWire Podcast, we navigate mixed economic signals with strong April jobsdata alongside ongoing trade tensions. We analyze the Fed's decision to hold rates steady citing inflation concerns and explore Brookfield's $5.9 billion raise for distressed properties. We examine federal intervention in the PennStation redevelopment and Boston's looming $1 billion tax bill. On the property front, we discuss a Texas multifamily loan that defaulted shortly after origination, multifamily transactions across the country, concerning office delinquency rates in key MSAs, and Harwood International's office portfolio recapitalization in Dallas. Tune in now.

Episode Notes:

• Economic Update (0:27)
• Brookfield Fundraising for Distressed Properties (8:14)
• Penn Station Redevelopment (11:55)
• Data Center Demand Outlook (16:37)
• Boston's Tax Crisis (18:47)
• Multifamily: Texas Loan Sent to Special Servicing & Transactions (21:05)
• Office Sector Trends & Stories (32:43)
• Harwood District Recapitalization (41:17)
• Fed Interest Rate Decision (43:00)
• Programming Notes (47:06)
• Shoutouts (47:55)

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In this week's episode of The TreppWire Podcast, we discuss the markets that are still on edge as investors weighed fresh inflation data, a mixed jobs report, and renewed speculation around the Fed’s next move. We share fresh CMBS delinquency data and tease distress and loss data through the eras. We discuss two Westfield mall loans – one with a value reduction and another sent to special servicing. There is positive office news with Deloitte moving its North American headquarters to Hudson Yards, but negative stories with zombie buildings in Chicago impacting the surrounding market. We close the episode with industrial and warehouse transactions, including a Blackstone affiliate warehouse portfolio sale. Tune in now.

Episode Notes

· Economic Update (1:04)

· Port Shipments down from Tariffs (7:23)

· March JOLTS Data (9:53)

· April 2025 CMBS Delinquency Report (11:22)

· Preview: CMBS Distress through the Eras (15:32)

· Westfield Mall Loans (23:41)

· Deloitte Moving HQ to Hudson Yards (28:29)

· Zombie Buildings in Chicago (31:24)

· Industrial & Warehouse Transactions (34:34

· Programming Notes (38:04)

· Shoutouts (40:53)

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In this week's episode of The TreppWire Podcast, weunpack the mixed economic data and evolving policy rhetoric keeping markets on edge. We analyze the latest release from the Fed’s Beige Book and its implications for commercial real estate (CRE) lenders navigating an uncertain market. We cover the ongoing impact of tariffs and the International Monetary Fund's forecast, jobless claims, and the slowdown in the labor market. We lookat 2025 CMBS Issuance and Origination numbers, highlighting the property types with the most activity and the regions leading the way. We discuss Amazon's massive office lease in Midtown Manhattan, and the trends in Class Boffice space and leasing volume in NYC. We end with several office, mixed-use, and retail loans transferred to special servicing, along with a significant multifamily transaction from Cammeby’s. Tune in now.

Episode Notes

· Economic Update (0:27)

· Jobless Claims & Labor Market (9:00)

· 2025 CMBS Issuance & Origination Stats (17:03)

· Office Stories: Amazon, Manhattan Class B Office (22:49)

· Office Trading Alert: LA Office Loan (29:42)

· Mixed-Use Trading Alert: Midtown Manhattan Loan (34:09)

· Retail Trading Alert: D.C. Mall Loan (36:56)

· MultifamilyTransactions: Cammeby's Apartment Purchase (42:25)

· Programming Notes (46:08)

· Shoutouts (47:48)

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In this special guest episode of The TreppWire Podcast, we are joined by Bo and Timmy Barron, cohosts of the Commercially Speaking Podcast, a show that breaks down commercial real estate concepts in a clear and entertaining way. Bo, a Certified Commercial Investment Member (CCIM) instructor and CEO of Barron Commercial Group, shares his journey from the Marine Corps to brokerage, while Timmy brings his background in acting and content creation to the table. We explore how their podcast has transformed their business, the power of educational content, and insights on market resilience, hyperlocal market trends, and the role of AI in CRE. We close with strategies for identifying opportunities, surprising market takeaways, and their outlook for what's ahead. Tune in now.

Episode Notes:
- Meet the Guests: Bo and Timmy Barron (00:18)

- Bo Barron's Journey in Commercial Real Estate (03:51)

- Timmy Barron's Acting Career and Podcasting (05:37)

- Impact of Social Media and Content Creation (12:20)

- Consistency and Resiliency in Commercial Real Estate (24:54)

- Self Storage Market Dynamics (28:23)

- Challenges and Opportunities in Growing Cities (36:47)

- The Role of AI in Commercial Real Estate (49:12)

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In this week's episode of The TreppWire Podcast, we break down the latest inflation data, analyze Federal Reserve Chair Jerome Powell’s message, and explore shifting Fed expectations while assessing what all this means for market uncertainty ahead. We unpack the consumer impact of the US-China trade war, even as retail sales exceed forecasts. In financial markets, we dive into balance sheet loan spreads from Trepp’s weekly spread survey and examine Q1 2025 bank earnings. Turning to the property stories of the week, we share two trading alerts on mall loan defaults while also spotlighting an encouraging refinancing deal. We end the episode with several other CRE transactions, including several multifamily and mixed-use stories. Tune in now.

Episode Notes

• Economic Update: Inflation, Fed & Trade (2:09)
• Retail Sales Stronger than Expected (11:33)
• Balance Sheet Loan Spreads Data: Trepp-i (14:55)
• 1Q25 Bank Earnings (20:18)
• Trading Alerts: Mall Loans (26:12)
• Houston Galleria Mall Refinanced (30:16)
• Mixed-Use: Times Square Plaza Appraisal Value Slashed (36:42)
• Multifamily: Apartment Transactions (37:56)
• Programming Notes (40:44)
• Shoutouts (44:19)

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

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