The TreppWire Podcast: A Commercial Real Estate Show

• 367. Year-End CRE Plot Twists: Fed Dots and Drama, Warner Bros. Sale & Their CRE Footprint, and Office & Multifamily Transactions

  This week, we recorded right after the Fed’s December decision to cut interest rates by 25 basis points. In this week’s episode of The TreppWire Podcast, we break down what the Fed’s communication could mean for rates, credit spreads, and CRE financing conditions in the months ahead. We also discuss the December SEP update, including three dissenting votes and revised growth projections for 2026. We dig into Netflix’s latest acquisition and what it could mean for Hollywood real estate as strategies continue to evolve. We close with office and multifamily transactions across Manhattan, Florida, and Seattle, including the off-market sale of the iconic Friends building in the West Village. Tune in now. Episode notes: Economic Update (1:34)Netflix Acquisition & Real Estate Impact (10:43)Office Transactions: NYC & Miami (22:12)Multifamily Sales in Florida & Seattle (31:54)Friends' Apartment Building Off-Market Sale (35:04)Programming Notes (37:30)Shoutouts (41:20)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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• 366. 2025 Issuance Tops $120B, Fannie/Freddie Lending Caps, NYC–Cincinnati Office Pricing Gaps, Market Trends & More

  In this week’s episode of The TreppWire Podcast, we examine the state of the commercial real estate (CRE) market and how macroeconomic factors are shaping property sectors, from multifamily to single-family housing. We cover the FHFA’s new 2026 caps for Fannie and Freddie, inflation’s impact on consumer spending, and millennial living trends. We also highlight private-label CMBS issuance topping $120 billion in 2025, pointing to strong momentum for the first half of 2026.In property type stories, we share notable multifamily and retail transactions, highlighting how price differences are driven by location and asset quality. For office, we discuss Scholastic selling its NYC headquarters, Capstone’s purchase of 205 West 38th Street, and Real Capital Solutions acquiring First Financial Center in Cincinnati for $59 million, or $106.57 per square foot, comparing that to recent NYC deals with prices nearing $974 per square foot. Tune in now.Episode notes: Economic Update (2:03)Inflation Impact on Consumer Spending (4:27)Single-Family Housing Market Challenges (14:40)FHFA Sets 2026 Caps for Freddie and Fannie (18:44)CMBS Issuance Update (21:43)Millennial Living Trends Impact Housing (26:04)Property Type Stories: Multifamily & Retail (30:15)NYC–Cincinnati Office Pricing (37:49) Programming Notes (43:43)Shoutouts (45:48)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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• 365. Cooling, Not Crashing: Thankful for CRE Bright Spots & A Ground Lease 101

  We recorded early this week ahead of the Thanksgiving holiday, but even in a short week, the big picture is clear: the economy is cooling, not crashing. In this week’s episode of The TreppWire Podcast, we provide a quick macroeconomic update on where things stand as we head into the holiday and discuss how it all ties back to commercial real estate (CRE). We kick off with a special segment on what we’re thankful for in the industry, highlighting bright spots that stand out despite the challenges of 2025 as we move closer to year-end. We discuss the stabilization of interest rates, which has allowed for continued transaction activity despite rising costs and softening job markets. Finally, we do a 101 segment on Ground Leases, explaining what ground leases are, why they exist, the risks involved, and walking through a real-world case study to bring it all together. Tune in now.Episode notes: Economic Update & Outlook for 2026 (1:43)Things We’re Thankful for in CRE (12:37)CMBS Issuance Update (20:31)Multifamily Absorption & Stabilizing Interest Rates (21:05)Ground Lease 101 (29:10)Case Study (32:29)Programming Notes (38:12)Shoutouts (40:24)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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• 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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