The TreppWire Podcast: A Commercial Real Estate Show

In this week’s episode of The TreppWire Podcast, we break down a market defined by volatility and an “escalate‑to‑de‑escalate” dynamic playing out in real time. We unpack the sharp intraday reversals in rates as weak Treasury demand and inflation concerns push yields higher, only to be pulled back by intermittent hopes for de‑escalation. We also examine new Federal Reserve proposals aimed at reducing bank capital requirements for commercial real estate (CRE) loans, a potential catalyst for increased lending capacity at a critical point in the cycle. We also cover key CRE headlines, including a $166.8 million data center land sale in Virginia, notable office financings at One Madison Avenue and San Francisco’s Merchants Exchange, and Nordstrom’s upcoming store closure at Galleria Dallas. Tune in now.Episode notes: Economic Update: Market Volatility & Banking (0:29)CMBS Spreads Performance in the Past Month (12:59)Commercial Real Estate Fundraising (16:37) Bank Capital Requirements Framework Update (24:02)Starwood’s Data Center Land Deal in Virginia (33:42)Office: SL Green's $1.65 billion refinancing of One Madison Avenue and Exonic's $50 million loan against the Merchants Exchange building in San Francisco (38:39)Mixed Use: JP Morgan & Vici Lend $4.3B for One Beverly Hills Completion (41:51)Nordstrom Store Closing at Galleria Dallas (43:39)Programming Notes (49:37)Shoutouts (50:48) Questions or comments? Contact us at [email protected]. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

In this week’s episode of The TreppWire Podcast, we examine the Fed's decision to hold rates steady against a rapidly escalating geopolitical energy shock that is re-accelerating inflation and effectively taking rate relief off the table for CRE borrowers. We also look back six years to when COVID shocked the world and walk through Trepp data to review how each property sector held up, recovered, and in some cases still has not fully healed. We analyze the $5.6 billion Public Storage acquisition of National Storage Affiliates and what CMBS data reveals about self-storage performance. We close with office green shoots, including Bank of America's 20-year lease at One Bryant Park, OpenAI surpassing 1 million square feet in San Francisco, a Wells Fargo SASB financing in Silicon Valley, and Starbucks expanding to Nashville. Tune in now.Episode notes: • Economic Update: Fed Holds, Iran Energy Shock & Higher-for-Longer (2:08)• Six years post-COVID: CRE Delinquency Retrospective by Property Type (12:48)• COVID Lessons: Modifications, Policy Response & Structural Shift (16:22)• Self-Storage: Public Storage & NSA Deal, and CMBS Performance (34:11)• Office Stories: BofA at One Bryant Park, OpenAI, Wells Fargo SASB & Starbucks Nashville (41:09)• Trading Alerts: Manhattan, Chicago, Virginia & Office Special Servicing Transfers (47:56)• Programming Notes (48:50)• Shoutouts (52:29)Questions or comments? Contact us at [email protected]. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

In this week’s episode of The TreppWire Podcast, we break down how the spike in oil is affecting the broader economy and discuss how the energy shock is adding new uncertainty to inflation, Fed policy, and market sentiment. We also analyze the state of the student housing market as March Madness approaches and examine proposed housing legislation that could reshape the single-family rental landscape. In commercial real estate (CRE) news, we cover a major industry consolidation as Savills is reportedly set to acquire Eastdil Secured in a deal valued at $1.2 billion. We highlight insights from Trepp’s latest CMBS Special Servicing Report, review recent trends in the Trepp Property Price Index (TPPI), and discuss several significant headlines and transactions from the week, including Manhattan office tower valuations falling below their COVID-era lows. Tune in now.Episode notes: Economic Update: Market Volatility & Oil Impact (0:29)Student Housing Market Analysis (12:04) Single-Family Rental Property Bill (18:45)Savills Acquisition of Eastdil (24:50)CMBS Special Servicing Report & TPPI (28:02)Manhattan Office Tower Values Plummeting Below COVID-Era Levels (30:22)Multifamily Transactions: Philadelphia & Phoenix (33:44)Fort Worth Texas Industrial Complex (41:02)Programming Notes (42:05)Shoutouts (44:13)Questions or comments? Contact us at [email protected]. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

In this week’s episode of The TreppWire Podcast, we examine rising Middle East tensions following US-Israeli strikes on Iran, including Iranian drone damage to Amazon data centers in the Gulf, and the ripple effects on oil prices and the 10-year Treasury. We cover the reversal of the 10-year Treasury back above 4%, rising oil prices, and record redemption requests at Blackstone's private credit fund. We review Trepp's February CMBS delinquency data, take a deep dive into the surging CRE CLO market, and break down $7.6 billion in SASB AAA downgrades. We close with a trading alert on the Minneapolis City Center loan and Target's surprise lease buyout. Tune in now.Episode notes: • Economic Update: Labor Data, Middle East Conflict & Ides of March Superstition (1:14)• Iranian Drone Strikes on Amazon Middle East Facilities (15:35)• Treasury Yields & Oil: Market Reaction to Gulf Conflict (18:55)• Blackstone Private Credit Fund: Record Redemptions & Liquidity Response (22:05)• CMBS Delinquency Report: Rate Declined, Led by Large Office & Retail Loan Extensions (26:19)• CRE CLO Market: Record 2026 Issuance Pace (33:21)• SASB Ratings Migrations & SF Office Losses (40:33)• Programming Notes (53:26)• Shoutouts (56:02)Questions or comments? Contact us at [email protected]. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

In this week’s episode of The TreppWire Podcast, we explore whether current market conditions reflect resilience or the early stages of repricing. We break down mixed inflation signals, the Supreme Court’s tariff ruling, and what policy uncertainty means for rates and risk appetite. We dig into private credit volatility and rising selectivity, CMBS issuance sentiment coming out of the SFVegas conference, cash-in refinancings, and new examples of office repricing from Chicago to San Francisco. We also cover fresh Trepp trading alerts and what servicer data is signaling across property types. Tune in now.Episode notes: Economic Update (1:51)TJ Maxx/Loews (14:24)SFVegas 2026 Inights (19:54)Chicago West Jackson Property (29:28) Amex Global HQ 2 WTC (32:07)Shvo Transamerica Pyramid Up for Sale (34:15)JP Morgan, Zenith Secure $130M Refi From KeyBank for IOS (37:44)NYC Multifamily Value Reduced Heavily, Expected to Exit Special Servicing (39:55)Programming Notes: LifeComps Report & More (42:28)Shoutouts (45:39)Questions or comments? Contact us at [email protected]. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp