We dig into the Fed’s recent meeting minutes, Q1 GDP revisions, consumer confidence trends, and the latest FDIC banking data. From inflation signals and trade tensions to CRE lending slowdowns and cooling construction activity, the episode connects the dots between the broader economy and the decisions facing market participants in 2025. Whether you're watching the labor market, pricing strategies, or borrower behavior, you’ll want to press play on this pulse check.

Key Moments:

01:28 FOMC Minutes and market reactions

04:04 GDP numbers and economic projections

09:15 Personal income, outlays, and consumer confidence

13:55 Manufacturing and construction data

19:47 FDIC Quarterly Banking Profile insights

26:14 Upcoming reports and announcements

Resources Mentioned:

Q1 2025 US CRE Investment and Transactions Quarterly report - https://www.altusgroup.com/featured-insights/cre-transactions/

US CRE Transaction Analysis – Q1 2025 - https://www.altusgroup.com/insights/us-cre-transactions/

Multifamily sentiment rebounds as the US housing market rebalances - https://www.altusgroup.com/insights/multifamily-sentiment-rebounds-as-us-housing-market-rebalances/

FOMC Minutes - https://www.federalreserve.gov/monetarypolicy/fomcminutes20250507.htm

OECD Economic Outlook - https://www.oecd.org/en/topics/economic-outlook.html

PCE index - https://www.bea.gov/data/personal-consumption-expenditures-price-index

Conference Board Consumer Confidence Survey - https://www.conference-board.org/topics/consumer-confidence

US Census Bureau Construction spending - https://www.census.gov/construction/c30/c30index.html

FDIC Quarterly Banking Profile - https://www.fdic.gov/quarterly-banking-profile

Email us - altusresearch@altusgroup.com

Thanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property

What do 33,000+ CRE transactions tell us about the Q1 2025 market?

Cole Perry and Omar Eltorai walk through Altus Group’s Q1 2025 US CRE Investment and Transactions Quarterly report providing analysis of the numbers sector by sector and highlighting trends worth watching.

From tentative recovery signs for office and multifamily to regional variations in retail, this episode puts a lens on where the market stands and what questions CRE investors should be asking.

Key Moments:

00:49 - Q1 2025 US CRE Investment and Transactions Quarterly report overview

01:57 - Transaction volume and pricing trends

12:47 - Detailed analysis by property sector

18:16 - Key takeaways

22:81 – Biggest surprises

25:47 - Report Access Information

Resources Mentioned:

Q1 2025 US CRE Investment and Transactions Quarterly report - https://www.altusgroup.com/featured-insights/cre-transactions/

Email us - altusresearch@altusgroup.com

Thanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property

Marc Hershberg, Managing Partner and CEO at Topaz Capital, joins us to unpack the real story behind Florida’s multifamily market. While headlines tend to spotlight Florida’s coastal glamour, Marc takes us beyond the beach by highlighting why inland markets, workforce housing, and Class B assets are where the smart money is headed. We discuss the strategic importance of inland geography, the philosophy of "market-first, deal-second", the risks of climate-driven insurance volatility, and how foreign capital is approaching the Sunshine State.

Tune in for a grounded, forward-looking conversation you won't want to miss.

Key Moments:

00:58 Mark Hershberg's early real estate journey

02:33 Launching Topaz Capital: Opportunities and challenges

05:32 Topaz Capital's current operations and strategy

08:43 Investment focus: Workforce housing in Florida

11:10 Recent deals and investment strategies

13:00 The 1031 Exchange platform

15:08 Florida's multifamily market: Risks and opportunities

25:29 Foreign investment and local knowledge

28:01 Using data analytics for investment decisions

29:09 Outlook for multifamily investments

Resources Mentioned:

Marc Hershberg - https://www.linkedin.com/in/marchershberg/

Topaz Capital Group - https://topazcg.com/

Email us - altusresearch@altusgroup.com

Thanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property

The Northeast and Mid-Atlantic aren’t the easiest regions for multifamily investment, but they might be the most instructive.

We sit down with Matt Frazier, Founder and CEO at Jones Street Investment Partners, to explore how the region’s regulatory complexity, persistent housing undersupply, and stable demand create an environment that rewards long-term thinking and local expertise.

Matt shares how his team leverages vertical integration to manage risk, capitalize on operational efficiencies, and respond quickly to changing market conditions. He also offers his thoughts on rising insurance costs, evolving capital structures, and secondary urban markets.

Tune in for valuable lessons on resilience, discipline, and execution in multifamily real estate.

Key Moments:

01:10 Matt Frazier's background and career

03:21 Founding Jones Street Investment Partners

06:05 Investment philosophy and market focus

12:51 Capital stack and funding strategies

15:49 Resident profiles and thematic investments

19:18 Current market drivers and opportunities

23:03 Challenges in multifamily housing development

28:18 Insurance volatility and strategic adjustments

32:52 Impact of policy and geopolitical changes

39:39 Technology in real estate development and management

Resources Mentioned:

Matt Frazier - https://www.linkedin.com/in/matt-frazier-a1b5963/

Jones Street Investment Partners - https://www.jonesstreet.com/

How Northeast and Mid-Atlantic real estate developers can help drives multifamily housing growth | Forbes - https://www.forbes.com/councils/forbesbusinesscouncil/2025/04/21/how-nema-real-estate-developers-can-help-drive-multifamily-housing-growth/

Email us - altusresearch@altusgroup.com

Thanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property

Retail real estate is back, and it looks nothing like the past. We sit down with Brandon Isner, Head of Retail Research at Newmark, to celebrate retail’s emergence as one of the most compelling asset classes in 2025. From Gen Z’s interest in in-person shopping to the role of AI in optimizing operations and experiences, we break down the factors fueling a potential golden age for retail.

Also in this episode:

• The long-term impact of historically low new construction
• How malls are evolving into multi-purpose lifestyle hubs
• The rise of tech-enabled, omni-channel retail strategies
• What market participants should be watching for in retail performance and tenant mix

Tune in to our latest episode to keep pace with one of the fastest-evolving CRE segments.



Key Moments:

01:23 Brandon's career journey

04:11 Role at Newmark and current projects

06:40 North American Research Group and ICSC

09:27 Retail sector's uniqueness and challenges

14:38 Impact of e-commerce and brick-and-mortar synergy

17:54 Warehouse clubs and superstores

22:25 The future of department stores

25:56 The resilience of malls

26:33 Generational shifts in shopping habits

28:25 The role of management and finance in mall success

31:43 Investment trends in retail real estate

36:46 The golden era of retail

38:04 The impact of generative AI on retail

42:12 Final thoughts and industry wishes

Resources Mentioned:

Brandon Isner - https://www.nmrk.com/people/brandon-isner & https://www.linkedin.com/in/brandonisner/

Shoptalk conference - https://shoptalk.com/us/agenda

What the biggest names in tech, media, and retail are saying about the future of commerce - https://www.altusgroup.com/insights/what-the-biggest-names-in-tech-media-retail-are-saying-about-future-of-commerce/

Newmarks - https://www.nmrk.com/

Email us - altusresearch@altusgroup.com

Thanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property

Spencer Burton, CEO and co-founder of CRE Agents, joins us to explore how AI is transforming the way CRE professionals work. From eliminating repetitive tasks to enabling smarter, faster decision-making, Spencer shares how digital coworkers are already creating a multiplier effect for their human counterparts across the industry.

In conversation with our host, Omar Eltorai, they discuss strategies for adopting AI without overhauling your entire operation, and why building reflexive AI usage habits now will give both professionals and firms an edge in the years ahead.

Tune in if you’re looking to work smarter, move faster, and stay competitive.

Key Takeaways:



00:46 Spencer Burton's background

02:12 Automation and efficiency in commercial real estate

04:38 Founding of CRE Agents

06:49 Building a digital coworker

09:32 The role of AI in commercial real estate

17:56 The technical bench strength behind CRE Agents

19:41 Challenges and future of CRE technology

23:12 The AI multiplier effect

32:07 Zero friction adoption for AI in CRE

34:42 Advice for industry professionals

Resources Mentioned:

Spencer Burton

https://www.linkedin.com/in/spencerburton/

CRE Agents | LinkedIn

https://www.linkedin.com/company/creagents/

CRE Agents | Website

https://www.creagents.com/

Email us -

altusresearch@altusgroup.com

Thanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property

From interest rate volatility and sector-specific repricing to evolving strategies across construction lending and senior housing, Justin Pinckney, Head of Private Debt at AEW, offers a tactical lens on balancing risk and opportunity in today’s CRE debt market. Together with our host, Omar Eltorai, they also explore the case for standardized valuation benchmarks, results and findings from Altus Group's Q1 2025 Debt Capital Markets Survey, and how AEW is positioning itself for the next phase of the cycle.

Tune in for Justin’s engaging and data-driven perspectives on lending and underwriting strategies in 2025’s US CRE environment.

Key Moments:

01:52 Justin Pinckney's career journey

04:41 Role at AEW and credit platform

06:37 Market trends and strategies

13:40 Senior housing opportunities

17:13 CRE debt market analysis

25:54 Private credit and portfolio construction

31:00 Bank and non-bank lenders

33:59 Future of CRE lending

Resources Mentioned:

AEW – https://www.aew.com/

Searching for gold: Strategies for navigating debt opportunities in uncertain times - https://www.aew.com/research/searching-for-gold

Altus Group’s Debt Capital Markets Survey - For more information about the survey findings or to participate in future surveys, please reach out to the team at AltusResearch@altusgroup.com

Email us - altusresearch@altusgroup.com

Thanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property

Christine Mastandrea, President and COO of Whitestone REIT, shares how a community-first mindset can drive long-term value in commercial real estate. From tailoring retail environments to local culture, to acknowledging and leveraging psychographics and generational shifts, Christine lays out Whitestone’s strategy of turning shopping centers into vibrant and diverse hubs for community.

We explore how retail spaces can serve as the “living rooms” of their neighborhoods, and why flexible, experience-driven developments are key to succeeding in today’s constantly changing landscape.

Tune in to better understand the value of building resilience and relevance into a retail property investment.

Key Moments:

01:07 Meet Christine Mastandrea: Background and early Career

03:36 The rise of REITs

05:00 Teaching experience and generational Insights

06:32 Christine's role at Whitestone REIT

08:14 Strategic decisions and market focus

11:55 Whitestone's IPO journey

14:41 Wearing a lot of hats at Whitestone

19:51 COVID-19 response and adaptation

26:09 Entrepreneurial mindset and growth of the “small business”

28:45 Impact of high Interest rates and inflation

31:10 Generational shifts in consumer behavior

36:36 The role of retail in community building

42:44 Challenges and opportunities in retail development

49:03 Advice for breaking into the CRE industry

50:45 Redefining retail for the future

Resources Mentioned:

Whitestone REIT - https://www.whitestonereit.com/

ESRI – https://www.esri.com/en-us/home

Placer.AI - https://www.placer.ai/

Email us - altusresearch@altusgroup.com

Thanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property