The TreppWire Podcast: A Commercial Real Estate Show

20 episodes scanned. 81% of ad slots promote the show's own products.

Recent Episodes

1. 432. The Net Lease Playbook: Institutional Capital, Sale-Leasebacks, & Market Evolution with Glen Kunofsky, SURMOUNT

   Nov 3, 2026

   Glen Kunofsky, founder and CEO of SURMOUNT, traces his path from residential investing as a college student to building a full-service net lease platform with over $5 billion in completed transactions. The conversation covers how institutional capital has entered the net lease market and blurred the line with private buyers, and how rising interest rates affect cap rates. It also addresses sale-leasebacks, family office and foreign capital, tenant credit and data center risk, and the implications of permanent 100% bonus depreciation.

2. 431. The Ghost of Hikes to Come: AI Credit Jitters, Haunted CMBS, and a $6.2B Office Bet

   Oct 30, 2026

   This weekly Trepp review, hosted by Haley Keane with Lonnie Hendry and guest Stephen Bushbaum, covers the Federal Reserve's decision to hold rates steady with two dissents favoring a hike, and what it means for Treasury yields, credit spreads, and CRE. The panel then walks through CMBS distress, including widening data center spreads, unpaid interest in SASB deals, and hotel and tenant problems. They also discuss consumer confidence, a Morgan Stanley industrial acquisition in Virginia, and several failed or stressed property transactions.

3. 430. Hike or Rate Spike? The Fed's Next Move, 245 Park's Second Act, Large Servicer Transfers, & a Chicago Office Foreclosure

   Oct 23, 2026

   Trepp's weekly review covers expectations for the Federal Reserve to hold rates in October and possibly raise them in December, along with how AI investment is complicating the inflation picture. The hosts also review weak housing starts, builder sentiment, and pending home sales, then walk through the early refinancing of 245 Park Avenue, a $2 billion loan that followed a bankruptcy, change of ownership, and leasing recovery. Additional segments cover a Chicago office foreclosure, a Philadelphia special servicing transfer, and brief takes on the CLO equity market and Tesla's flying roadster.

4. 429. Multifamily Value-Add, Development, and Opportunity Zone Strategy with Barrett Linburg, Savoy Companies

   Oct 20, 2026

   Barrett Linburg, founding partner of Savoy Companies, a vertically integrated Texas multifamily platform, discusses how he moved from mortgage brokering into multifamily investing and scaled Savoy through gut renovations and urban infill development in Dallas. The conversation covers Opportunity Zones 1.0 and 2.0, including the Bishop Ridge redevelopment case study and the permanent program enacted in 2025. It also explores Savoy's in-house property management, construction, and proprietary operating system, which uses AI and geofencing to manage operations.

5. 428. Pressure Beneath the Profits: Bank Earnings, Hot Inflation, Falling Yields, & $2.9B in Hurricane-Exposed CRE

   Oct 16, 2026

   Trepp's Lonnie Hendry, Chief Product Officer, joins host Haley Keen and colleague Stephen Bushbaum for a weekly review of CRE and macro news for the week ending October 16, 2026. The episode covers September CPI and PPI readings, the rise in Treasury yields, and bank earnings from JPMorgan, Wells Fargo, Citi, Goldman Sachs, Bank of America, and Morgan Stanley. It also includes a Trepp analysis of roughly $2.9 billion in securitized CRE debt exposed to Hurricane Isaias in Florida, along with property deal stories.

6. 427. Inflation Revisions, Refinancing Decisions: $78B in Hard Maturities, Negative Leverage, & a $508M Retail Bet

   Oct 9, 2026

   Trepp's Haley Keane hosts a weekly CRE review with Lonnie Hendry, Chief Product Officer, and Stephen Bushbaum, Head of Applied Research and Analytics. They cover the September jobs report, Treasury yield movements, inflation and manufacturing data, and lenders' comments on refinancing and underwriting. The episode also explains negative leverage and the difference between cash-on-cash and total return, and reviews roughly $78 billion of CMBS hard maturities through 2027, along with a $127 million multifamily construction takeout and Federal Realty's $508 million acquisition of The Summit in Birmingham.

7. 426. CRE Lending Through Cycles: Stressed Sponsors, Industrial Conviction, & Today’s Debt Market with Stefanie Stewart, Voya Investment Management

   Oct 6, 2026

   Stefanie Stewart, Senior Vice President and Head of Real Estate Investments at Voya Investment Management, discusses CRE lending through market cycles, drawing on nearly two decades of experience including the GFC, extended low-rate environment, and recent rate hikes. She covers Voya's evolution from single-source insurance capital to a diversified third-party investment manager with multiple capital buckets, and explores deployment strategies across stabilized, transitional, and floating-rate debt products. Stewart emphasizes the shift from stressed-asset to stressed-sponsor analysis, highlights industrial real estate as a core conviction, and addresses opportunities and risks in office, multifamily, hospitality, and industrial sectors.

8. 425. The Payoff Problem: Rising Yields, $4.7B in Hard Maturities, & AI’s $4.2T Revenue Gap

   Oct 2, 2026

   The TreppWire Podcast team discusses mixed economic signals including ADP hiring data, falling consumer confidence, elevated Treasury yields, and rising construction costs impacting CRE. The episode covers $4.7B in October CMBS hard maturities, Bain's analysis of a $4.2T AI revenue gap, NYC's pied-à-terre tax legal setbacks, and notable deals including Morgan Stanley's Dallas expansion, Apple's Sunnyvale office loan default, and an 81% loss severity on a Houston office tower.

9. 424. The Numbers Need Context: 5%+ Treasury Yields, AI Roadblocks, and Hotel Distress

   Sep 25, 2026

   This episode of TreppWire is a weekly market review covering macro economic conditions including Treasury yields above 5%, Fed rate hikes, persistent inflation, and oil/diesel price pressures. The show analyzes AI-related debt spreads widening as investors demand more compensation, Texas pausing data center permits pending grid audit, and hotel market bifurcation between Marriott and Hilton flags. Property stories include a $180M student housing refinancing, Chicago office appraisal declines, industrial/retail transactions, and a Hyatt loan entering special servicing.

10. 423. The Office-to-Resi Conversion Boom is Just Getting Started with Joey Chilelli, Vanbarton Group

    Sep 22, 2026

    Joey Chilelli, partner at Vanbarton Group, discusses the office-to-residential conversion boom and why it represents a structural, not cyclical, shift in the commercial real estate market. He explains Vanbarton's conversion underwriting methodology since 2011, the economics that determine project viability, and how City of Yes and 467M tax incentives have expanded the pipeline. Chilelli argues that conversions are a long-term strategy that will continue to reshape urban markets by creating mixed-use neighborhoods and breathing new life into obsolete office stock.