Deloitte’s Jonathan Keith Says CRE Investors Should Remain Nimble as M&A Conditions Shift
Jonathan Keith, Managing Director at Deloitte, outlines a bleak 2025 CRE M&A landscape, with global deal value down 57% and deal count falling over 70%, though average U.S. deal size hovered around $300 million. He highlights sector‑specific opportunities for 2026, noting data centers as a hot market driven by AI demand, while office space sees a split between high‑grade Class A assets gaining traction and struggling Class B properties. Residential and single‑family rental activity will be geography‑driven, with Sunbelt markets cooling and the Northeast/Rust Belt remaining tight, and policy shifts such as the 2026 executive order on investor competition could temper SFR deals. Keith stresses that investors must stay nimble—maintaining capital, stress‑testing scenarios, and building pipelines—to capitalize on emerging deals amid ongoing geopolitical, interest‑rate, and consolidation dynamics.
Rising Vacancies, Softer Rents, and What Comes Next with Anthony Passarelli, Lead Economist at CMHC – Southern Ontario
In this episode, lead economist Anthony Passarelli discusses the current rental landscape across Southern Ontario, highlighting rising vacancies and softening rents in markets like Windsor, London, and Kitchener. He explains that a surge in new construction—especially purpose‑built rentals—has outpaced demand,...
Housing Market Outlook: Has the Slowdown Begun?
In this episode, ComBank senior economist Trent Saunders analyzes the recent slowdown in Australia’s housing market, attributing it to a mix of higher interest rates, the May 2024 federal budget’s changes to negative gearing and capital gains tax, and waning...
Morgan Stanley Sees Focus Shifting to Demand as Multifamily REIT Supply Pressures Ease
In this episode of The REIT Report, Morgan Stanley’s Adam Kramer discusses how the multifamily REIT sector is moving from a supply‑driven crisis to a demand‑focused recovery as new construction pipelines hit their lowest levels since 2013. He highlights regional...
Finding Hidden Value in Multifamily Real Estate with Braiden Goodchild, VP of Capital Formation and Strategic Transactions at Equiton
In this episode, Braiden Goodchild, VP of Capital Formation and Strategic Transactions at Equiton, walks listeners through his diverse career—from municipal planning to real estate investment banking—and explains how Equiton has grown into a $1.7 billion AUM, vertically integrated platform focused...
Finding Value in Commercial Real Estate Credit
In this episode, Morgan Stanley’s Global Head of Fixed Income Research, Andrew Sheets, explains why commercial real‑estate debt is currently undervalued relative to other bond markets. He highlights that while yields on U.S. mortgage, high‑yield, and investment‑grade bonds are at...
398. CRE’s New Math: Multifamily Cap Rates, Office Recovery Bets, & Capital Costs
In this episode, Trep Wire hosts Haley Keen, Lonnie Hendry, and Stephen Bushbaum dissect the current commercial real‑estate landscape, focusing on how elevated capital costs are shaping valuations across multifamily, office, and other asset classes. They analyze the AvalonBay equity‑residential...
IREI’s Geoffrey Dohrmann Says Investor Capital Remains Cautious, But Curiosity Returning
In this episode, Jeff Dorman of Institutional Real Estate Inc. discusses how institutional investors are navigating prolonged market uncertainty, shifting from traditional asset‑allocation models to a total‑portfolio approach that evaluates each investment’s monthly contribution. He explains that while capital remains...
397. What the Fed Is Really Watching, CRE’s Consolidation Wave, Why Retail Is Winning, the LA Mansion Tax Backfire &...
In this episode, the Trep Wire team reviews the latest market signals, focusing on a sharp rise in Treasury yields and its limited impact on commercial real estate (CRE) as long as 10‑year rates stay below about 5%. They discuss...
396. Inside Trepp Connect: Capital Deployment, the Lending Reset & CRE’s Emerging Divide Amid AI and Data Center Growth
The episode recaps the Trep Connect conference, highlighting a surge in CRE lending activity despite hotter-than-expected CPI and PPI numbers that signal persistent inflation. Hosts Stephen Bushbaum and Lonnie Hendry explain that capital is flowing back into the market, but...
Is Homeownership Still Worth It? + Why Work-Life Balance Is a Myth
In this episode the host challenges the conventional wisdom that homeownership is a prerequisite for adulthood, arguing that renting can be the smarter financial choice, especially in high‑cost markets like the Bay Area and New York. They explain that the...
05.11.26 Real Estate Investing In Today’s Market / Job Market Update
In this episode Clark Howard warns that the current real‑estate market is hostile to house‑flipping and even rental investing for most people, citing soaring home prices since the pandemic that outpace income growth. He advises listeners to assess personal circumstances—like...
The New Playbook for Real Estate Net Lease Investing
In this episode of Thoughts on the Market, Ron Camden and Hank D'Alsandra discuss the rapid evolution of net lease investing, highlighting its shift from a niche retail focus to a broader asset class that now includes industrial, medical outpatient,...
Justice for Covered Bonds (and Securitization)
The episode examines recent EU regulatory proposals affecting covered bonds and securitisation, highlighting the European Parliament’s approval of a 5% risk‑weighting for senior STS securitisation tranches while rejecting a similar reduction for AA‑ rated covered bonds. Panelists discuss the covered‑bond...
Mizuho’s Vikram Malhotra Sees Logistics Real Estate in Early Stages of New Upcycle
Vikram Malhotra, Managing Director of REIT Estate Equities at Mizuho, explains that the logistics and industrial real‑estate sector is entering a new upcycle, driven by strong demand for large‑box warehouses from retailers like Walmart and Amazon, as well as emerging...