The TreppWire Podcast: A Commercial Real Estate Show

• 364. Reading the Commercial Real Estate Room: Office Bifurcation, Retail Divergence, & SASB Reality Checks

  In this week’s episode of The TreppWire Podcast, we examine the latest Fed signals as the October FOMC minutes highlight a growing split inside the committee and a wider range of potential outcomes heading into year-end. In commercial real estate, we dig into the rising optimism in office lending and why the narrative is far from uniform... Class A assets are seeing real momentum while B/C properties face a multi-year reset. We also cover mixed retail earnings and discuss how shifting consumer behavior and remodel strategies are reshaping demand. We also review notable SASB office deals showing interest shortfalls and what these signals mean for risk as we approach 2026. In our property-type segments, we highlight this week’s major office and retail trading alerts, from a Manhattan appraisal reduction to a Starwood regional mall portfolio transfer to special servicing. Tune in now.Episode notes: Economic Update (0:44)Bifurcation of the Office Market (6:02)Retail Earnings: Home Depot vs. Lowe’s and Target vs. T.J. Maxx (12:31)Office Bifurcation: Headlines vs. Reality (21:11)CMBS SASB Deals with Large Amounts of Interest Shortfalls (28:23)Takeaways from Commercial Observer’s 2025 Fall Finance Forum (35:07)Office Trading Alerts: (41:02)Retail Trading Alerts: (48:12)Programming Notes (56:00)Shoutouts (58:23)Questions or comments? Contact us at [email protected]. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

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• 363. WeWork CEO John Santora on the Power of Flexibility & Real Estate Cycles

  In this special guest episode of The TreppWire Podcast, we welcome John Santora, CEO of WeWork and a seasoned leader in global commercial real estate (CRE) industry. After nearly five decades at Cushman & Wakefield, John shares his path to WeWork and his vision for leading the company. We explore major industry shifts, the cyclical nature of CRE, and WeWork’s evolving role in the market. John talks about his renewed focus on operational discipline, profitable growth, and delivering flexible office solutions for today’s workforce. He also shares what he’s hearing firsthand from landlords across the country. Tune in now for an open conversation with one of CRE’s most experienced voices.Episode Notes• Background & Start in CRE (1:18)• Real Estate Market Shifts (3:23)• Joining WeWork (7:18)• Hybrid Work Model (10:56)• Ritz-Carlton-style training for Staff (17:25)• Portfolio Reduction & Strategic Expansion (21:39)• Conversations with Landlords (26:32)• Enthusiasm for WeWork (29:32)• Final Insights on the CRE Industry (32:24)Questions or comments? Contact us at [email protected]. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

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• 362. CRE Earnings Show Market Resilience, CMBS Issuance Nears $120B, 50-Year Mortgage Debate, & More

  At the time of our recording, lawmakers were racing to avert the government shutdown. In this week’s episode of The TreppWire Podcast, we break down the White House’s proposal for a 50-year mortgage and the risks it could introduce, along with the latest CEO talking points on AI investments. In commercial real estate (CRE), we look at how brokerage earnings signal market strength despite headlines focused on distress and provide an update on CMBS issuance, which is expected to surpass $120 billion. We also cover Amazon’s $700 million land purchase for future data centers and Marriott’s decision to end its licensing agreement with Sonder. In property stories, we discuss three multifamily sales, highlight a Blackstone industrial portfolio SASB deal coming to market, and review the Mall of America loan extension. Tune in now. Episode notes: Economic Update (1:32)50-year Mortgage Proposal (5:16)AI Impact & Amazon’s $700M Land Purchase (12:52)Sonder’s Abrupt Bankruptcy & Marriott’s Reaction (19:26)CRE Brokerage Earnings (33:49)CMBS Issuance Update (35:24)EQT Exeter’s $132.43M Acquisition of Two Warehouses in Florida (37:43)Blackstone Data Center SASB Deal (43:39)Mall of America Loan Extended (46:52)Programming Notes (48:47)Shoutouts (50:37) Questions or comments? Contact us at [email protected]. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

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• 361. NYC's Rent Regulation Debate, AI Innovation for CRE, Inside the Loans Driving Distress & Notable Transactions

  In this week’s episode of The TreppWire Podcast, we discuss the ongoing government shutdown and its implications, along with the Federal Reserve’s cautious stance and how it is affecting the markets. We also explore the potential impact of New York City’s new mayor on real estate trends and housing affordability. We cover the recent partnership between OpenAI and Amazon, which represents a notable shift away from Microsoft. We also highlight Trepp’s latest AI-powered tools designed to support the commercial real estate finance industry. In a deep dive into October CMBS delinquency data, we go behind the scenes of distress metrics and walk our listeners through the specific loans that drove distress higher or improved the rate in October. To close out the episode, we share notable apartment transactions and compare two industrial property sales, focusing on how location influences price per square foot. Tune in now.   Episode notes:  Economic Update: Govt Shutdown & NYC Mayor (1:40) OpenAI & Amazon Deal and AI at Trepp (15:07) CMBS Delinquency Rate & Cured Loans Analysis (29:43) Notable Apartment Transactions (37:57) Lease Concessions & Market Trends (39:51) Industrial Transactions (45:51) Programming Notes (48:55) Shoutouts (52:52) Questions or comments? Contact us at [email protected].      Follow Trepp:   X: www.x.com/TreppWire  LinkedIn: www.linkedin.com/company/trepp   

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• 360. Fed Easing into the Unknown, Bank Mergers, $4.8T CRE Debt Universe, and Headline Highlights in Multifamily and Office

  In this week’s episode of The TreppWire Podcast, we break down the Fed’s 25-basis-point rate cut and the continued banking consolidation trend, including Huntington’s acquisition of Cadence Bank. We discuss Amazon’s 14,000 layoffs amid its AI push and how that shift impacts office demand and data centers. We also review Trepp’s new report on the $4.8 trillion CRE debt universe, which details who holds the debt and when it comes due. We cover the October CMBS delinquency rate increase to 7.4% and highlight a Texas multifamily loan default. We wrap up with multifamily sales in Florida and Georgia and two office trading alerts. Tune in now.Episode notes: Economic Update: Fed Cuts Rates & Continued Government Shutdown (1:42)Bank Consolidations: Huntington’s Acquisition of Cadence Bank (23:24)$4.8T CRE Debt Universe Report: Trepp (25:47)CMBS Delinquency Rate October 2025: Office Hit Another All-Time High (32:55)Two-Year-Old Texas Apartment Loan Transferred to Special Servicing (35:45)Multifamily Transactions in Palm Beach & Atlanta (41:29)Office Trading Alerts in Silicon Valley & Seattle (48:49)Programming Notes (51:20)Shoutouts (53:45)Questions or comments? Contact us at [email protected]. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

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