Retail’s comeback isn’t new news, but its investment potential is still underestimated. In this episode, RockStep Capital’s President, Andy Weiner, joins Omar Eltorai and Cole Perry to shed light on why the most rational capital in CRE is rotating toward shopping centers and “hometown” markets.

From positive leverage dynamics to the structural limits on new supply, Andy explains how disciplined operators are capturing double-digit yields while strengthening the communities they invest in. For investors, developers, and lenders, it’s a revealing look at where the next durable returns may come from.

Key Moments:

01:34 Meet Andy Wiener of Rock Step Capital

03:38 The birth of Rock Step Capital

05:21 Retail strategy and store metrics

07:29 Improving communities through retail

10:39 The Rock Steps: Company culture and values

16:51 Evolution of Rock Step Capital

20:52 Hometown focus and investment strategy

22:21 Community involvement and local partnerships

24:55 Investment strategies and fund structure

27:00 Retail Renaissance and e-commerce integration

30:24 Supply and demand dynamics in retail

41:38 Public-private partnerships and redevelopment

45:37 Exit strategies and market insights

46:44 Chick-fil-A fandom and personal insights

Resources Mentioned:

Andy Weiner - https://www.linkedin.com/in/andy-weiner/

RockStep Capital - https://rockstep.com/

The RockStep way - https://rockstep.com/company/rockstep-way

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 a 20.5% surge in new home sales and persistent affordability challenges in the existing market, to rising inflation, consumer sentiment drops, and labor market paradoxes, our hosts Omar Eltorai and Cole Perry explore how these factors are influencing CRE demand and investment strategy.

Also, special guest Dan Kudrik, Senior Director at Altus, adds his perspective on the human edge in real estate, and highlights how valuation, residual values, and transparency are evolving in the US market.

Key moments

• 01:19 Latest Housing Market Data
• 06:29 Consumer spending and inflation insights
• 15:07 GDP and corporate profits analysis
• 18:47 Labor market trends
• 21:59 Special Guest: Dan Kudrik on human capital, valuations, and residual values

Resources mentioned

• New Home Sales: https://www.census.gov/construction/nrs/index.html
• Existing home sales: https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales
• PCE: https://www.bea.gov/data/personal-consumption-expenditures-price-index
• GDP: https://www.bea.gov/data/gdp/gross-domestic-product
• University of Michigan’s Consumer Sentiment Index: https://www.sca.isr.umich.edu/
• JOLTS: https://www.bls.gov/jlt/
• Dan Kudrik: https://www.linkedin.com/in/danielkudrik/
• 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

Industrial real estate is transforming, and fast. Aasif Bade, founder and CEO of Ambrose, shares his journey, his firm’s conviction for modern warehouses, and why staying ahead of technology and global supply chain shifts is crucial. From outdated infrastructure to AI-driven innovation, Bade highlights what investors and developers need to know to navigate the industrial sector’s next chapter.

Key Moments:

01:21 Guest introduction: Aasif Bade

01:54 Founding Ambrose: A journey

04:53 People-first philosophy

05:49 Ambrose's core investment strategy

07:55 Pivot to industrial focus

10:39 Fundraising and investor insights

15:35 Current industrial market trends and challenges

29:24 Technological advancements in warehousing

32:25 Future trends and reshoring

Resources Mentioned:



Ambrose: https://ambrosepg.com/

Aasif Bade: https://www.linkedin.com/in/aasif-bade-a3b1851a4/

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

Inflation is running above the Fed’s 2% target, labor quality remains a top concern for small businesses, and consumer credit growth is sending mixed signals. Together, these forces are framing the near-term outlook for CRE, from leasing demand to borrowing costs. In this episode, Omar and Cole analyze the NFIB small business survey, break down the latest CPI and PPI readings, and examine consumer credit data alongside sentiment trends to provide a clearer picture of the current market signals.

Key Moments:

01:23 NFIB Small Business Optimism Index recap

04:22 Inflation data: PPI and CPI insights

07:35 Consumer Credit and sentiment analysis

13:45 Upcoming Fed decision and market expectations

18:19 Conference highlights and networking

20:49 Upcoming events and data releases

Resources Mentioned:

NFIB Small Business Optimism Index: https://www.nfib.com/news/monthly_report/sbet/

Product Price Index: https://www.bls.gov/pPI/

Consumer Price Index: https://www.bls.gov/cpi/

Consumer credit – G.19 report: https://www.federalreserve.gov/Releases/g19/current/

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 Beige Book signals an economy under pressure, with slowing growth, rising costs, and cooling labor markets weighing on CRE. In this episode of CRE Exchange, Cole Perry and Omar Eltorai break down where challenges are mounting and where opportunities remain.

They spotlight resilient sectors like data centers, industrial, and high-quality office, alongside the surprising momentum of unanchored strip centers. The discussion closes with a look at key upcoming economic data and what it could mean for investment strategies.

Key Moments:

01:14 Federal Reserve Beige Book insights

07:40 Labor market data analysis

11:19 Employment Situation Report breakdown

16:20 Deep dive into strip center data

20:30 Upcoming conferences and data releases

Resources Mentioned:



Beige Book: https://www.federalreserve.gov/monetarypolicy/publications/beige-book-default.htm

Job Openings and Labor Turnover (JOLTS): https://www.bls.gov/jlt/

ADP National Employment Report: https://mediacenter.adp.com/2025-09-04-ADP-National-Employment-Report-Private-Sector-Employment-Increased-by-54,000-Jobs-in-August-Annual-Pay-was-Up-4-4

Employment Situation Report: https://www.bls.gov/news.release/empsit.nr0.htm

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 latest FDIC banking profile shows resilience in CRE lending even as past-due rates improve, but consumer confidence is slipping, with inflation and job concerns weighing heavily on sentiment. At the same time, multifamily continues to absorb demand while single-family sales stall under high mortgage rates. In this episode of CRE Exchange, we connect these dots alongside fresh GDP revisions, construction spending shifts, and private market price trends. Tune in to uncover what these signals mean for CRE financing, sector strategies, and where opportunities may emerge next.

Key Moments:

01:13 FDIC Quarterly Banking Profile insights

05:28 Consumer confidence and sentiment analysis

08:35 Personal income and spending trends

11:30 New home sales and housing market update

13:55 GDP growth and economic indicators

16:34 Construction spending and sector analysis

19:54 Capital markets and investment trends

24:28 Non-listed CRE space and pricing trends

28:03 Upcoming events and announcements

Resources Mentioned:



FDIC Quarterly Banking Profile: https://www.fdic.gov/quarterly-banking-profile/quarterly-banking-profile-q2-2025

SLOOS: https://www.federalreserve.gov/data/sloos.htm

Q2 2025 US CRE Investment and Transaction Quarterly report

• National transaction activity: https://www.altusgroup.com/featured-insights/cre-transactions/
• Pricing and pacing: https://www.altusgroup.com/featured-insights/cre-transactions/pricing-pacing/
• Property sectors: https://www.altusgroup.com/featured-insights/cre-transactions/property-sectors/

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

We share insights from Altus Group’s Q2 2025 Investment and Transactions Quarterly report. From multifamily’s continued strength to industrial’s surprising slowdown, we explore the quarterly and annual changes in investment volume, pricing, and deal trends impacting CRE today. Tune in for data-backed takeaways to help you navigate your investment strategy across major markets and sectors.

Key Moments:

00:52 Overview of Q2 2025 Investments and Transactions Report

01:47 Investment Volume Highlights

03:11 Pricing Trends Analysis

04:44 Geographical Performance Insights

06:12 Property Sector Trends

07:51 Key Takeaways and Conclusions

Resources Mentioned:

Q2 2025 US CRE Investment and Transaction Quarterly report

• National transaction activity: https://www.altusgroup.com/featured-insights/cre-transactions/
• Pricing and pacing: https://www.altusgroup.com/featured-insights/cre-transactions/pricing-pacing/
• Property sectors: https://www.altusgroup.com/featured-insights/cre-transactions/property-sectors/

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

We’re deep into the Q2 2025 earnings season, and with most calls now behind us, it’s time to zoom out. In this episode, we recap key themes from REITs and explore takeaways from other players in CRE, including capital allocators, brokerages, and development firms. It’s a sector-spanning look at the market trends, investment signals, and opportunities influencing the second half of 2025.

Key Moments:

00:49 Q2 2025 earnings releases and general themes

01:31 Capital allocators: Banks vs. non-banks

08:37 Sector-specific insights: Retail, office, industrial, and multifamily

16:28 Niche sectors: Data centers, healthcare, hospitality, and self-storage

25:09 Brokerages and their holistic market views

28:32 Cross-sectional themes: Tariffs, build vs. buy, and consumer health

36:21 Overall sentiment and outlook for commercial real estate

38:06 Conclusion and upcoming reports



Resources Mentioned:

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