Newmark’s President of Capital Markets, North America, Chad Lavender, breaks down the sector-by-sector changes that are redefining today’s capital markets. From the surge in data center demand to senior housing’s NOI outperformance and the resurgence of banks in lending, Chad share a well-defined read on where CRE capital is actually flowing, and why it matters heading into 2026.

Key Moments:

01:34 Chad Lavender's career journey

05:08 Overview of Newmark Capital Markets

07:35 Current trends in US CRE capital markets

16:40 Deep dive into alternative sectors

20:26 Healthcare and senior housing insights

25:19 Data centers and life sciences

31:39 Medical office, SFR, and BTR

36:35 Alternatives on the move and market structures

Resources Mentioned:

Chad Lavender: https://www.linkedin.com/in/chad-lavender-03551bb/

Newmark: https://www.nmrk.com/services/investor-solutions/capital-markets

Email us: altusresearch@altusgroup.com



The latest wave of delayed government data is finally in, and it’s helping the CRE community reestablish a clearer view of the economy heading into 2026. Join Omar and Cole as they interpret new banking, retail, PPI, and sentiment indicators, translating them into implications for capital availability, demand, and development pipelines.

Key Moments:

01:12 Quarterly Banking Profile insights

05:49 Commercial real estate lending trends

10:36 Retail sales and economic indicators

13:02 Producer Price Index analysis

15:07 Federal Reserve's Beige Book highlights

22:42 Consumer Confidence and GDP Nowcast

28:11 Upcoming data releases and final thoughts

Resources Mentioned:

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

US Bureau of Labor and Statistics Producer Price Index - https://www.bls.gov/pPI/

US Census Bureau Advance Retail Trade Report - https://www.census.gov/retail/sales.html

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

The Conference Board US Consumer Confidence Index - https://www.conference-board.org/topics/consumer-confidence/index.cfm

GDP Now - https://www.atlantafed.org/cqer/research/gdpnow

US Commercial Real Estate Transaction Analysis – Q3 2025 - https://www.altusgroup.com/insights/us-commercial-real-estate-transaction-analysis-q3-2025

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

Our hosts, Omar Eltorai and Cole Perry, unpack an unexpectedly strong Q3 2025, one that defied seasonal norms and signaled potential momentum building across US commercial real estate. They break down what drove transaction growth, why large deals may have returned, and how pricing trends varied across sectors and major metros. Tune into this data-rich recap for valuable context heading into year-end.

Key Moments:

00:50 Overview of Q3 2025 and market environment

01:28 Macroeconomic trends and Federal Reserve actions

04:44 Credit and equity market performance

09:13 US CRE investment and transaction market in Q3

11:54 Detailed analysis of CRE pricing and pacing trends

20:20 Geographic differences in CRE market performance

25:46 Surprising trends and insights from Q3 data

Resources Mentioned:

Q3 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

Every quarter, we dig into dozens of CRE earnings calls, tuning in, reading the releases, and looking for what really stands out. This time, we’re taking a different approach. Instead of focusing on individual companies, we’re pulling out the biggest themes across lenders, REITs, and brokers, from credit thawing to where capital is flowing next in 2026.

Key Moments:

01:51 Lenders' insights and trends

06:41 Retail REIT earnings highlights

11:51 Office sector analysis

18:18 Industrial sector developments

26:30 Multifamily sector review

31:15 Brokerages and asset managers outlook

41:13 Overarching takeaways

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

Legendary New York broker Bob Knakal shares lessons from more than four decades shaping the city’s investment landscape. He discusses the founding of Massey Knakal, the power of specialization, and how zoning and policy continue to define opportunity. Knakal also explains why he’s integrating AI and data analysis into his brokerage, and why, despite political headwinds, he still believes you should never bet against New York.



Key Moments:

01:01 Meet Bob Knakal

03:24 The early days of Massey Knakal

04:50 Lessons learned and keys to success

08:14 The importance of market expertise

11:26 Founding BK Real Estate Advisors

13:14 Specialization and market changes

17:37 AI and technology in real estate

24:15 The unique challenges of the New York market

26:20 Current market cycles and trends

29:57 Impact of political changes on housing

32:42 Proposed solutions for housing issues

38:35 Future of New York real estate

Resources Mentioned:

Bob Knakal - https://www.linkedin.com/in/bobknakal/

BKREA - https://www.bkrea.com/

485-x Program - https://www.nyc.gov/site/hpd/services-and-information/tax-incentives-485-x.page

Major Capital Improvement program - https://www.nyc.gov/site/finance/property/landlords-mci.page

Individual Apartment Improvement program - https://hcr.ny.gov/apartment-iai-and-building-mci-improvements

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 if the economy could sing? The CRE Exchange team explores what the Fed’s Beige Book, homebuilder sentiment, and recent banking data reveal about the broader economy, and how those trends ripple through commercial real estate. Our hosts, Omar Eltorai and Cole Perry, then turn to Peter Norman, Altus Group’s VP and Economic Strategist, for a deep dive into Canadian economic and CRE trends.

Key Moments:

• 01:34 Diving into the Fed Beige Book
• 02:21 Labor market and employment trends
• 03:30 Consumer spending and manufacturing Insights
• 07:25 Home Builder Confidence Index
• 10:43 Large Bank Credit Card and Mortgage Report
• 13:57 Manufacturing Business Outlook Survey
• 16:31 Non-Manufacturing Business Outlook Survey
• 20:52 Canadian CRE trends with Peter Norman
• 43:19 Upcoming events

Resources Mentioned:

Peter Norman – https://www.linkedin.com/in/peter-norman-20637043/

2025 Canada State of the Market webinar – https://www.altusgroup.com/webinars/canada-state-of-the-market/

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

NAHB/Wells Fargo Housing Market Index - https://www.nahb.org/news-and-economics/housing-economics/indices/housing-market-index

ISM Manufacturing PMI - https://www.ismworld.org/supply-management-news-and-reports/reports/ism-pmi-reports/pmi/september/

Philadelphia Fed Large Bank Credit Card and Mortgage Data - https://www.philadelphiafed.org/surveys-and-data/large-bank-credit-card-and-mortgage-data

Philadelphia Fed Manufacturing Business Outlook Survey - https://www.philadelphiafed.org/surveys-and-data/regionaleconomy/manufacturing/business-outlook-survey

Philadelphia Fed Nonmanufacturing Business Outlook Survey - https://www.philadelphiafed.org/surveys-and-data/regionaleconomy/nonmanufacturing/business-outlook-survey

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

Even with the federal data slowdown, there are still alternative indicators that give us a view into what’s happening in the US economy and commercial real estate. In this episode, our hosts, Omar Eltorai and Cole Perry, lean on data from private providers and trade organizations to uncover what’s happening across consumers, small businesses, labor, and financial markets and what it all means for CRE. They’re joined by Andrew Pabon from Altus Group’s Valuation Advisory team to share insights on the CRE debt space.

Key Moments:

01:31 Labor market indicators

05:35 Consumer data insights

13:21 Financial market conditions and business data

17:01 Small business economic trends

20:51 CRE credit trends and debt market insights

28:41 Interview with Andrew Pabon on the US CRE debt landscape

41:24 Upcoming economic data releases

Resources Mentioned:

Andrew Pabon - https://www.linkedin.com/in/andrew-pabon-15a6976/

Altus Group CRE Debt Capital Markets Survey - https://www.altusgroup.com/featured-insights/cre-debt-capital-markets-survey-registration/

Alternative version of Kansas City Fed’s Labor Market Conditions Indicators (LMCI) - https://www.kansascityfed.org/research/economic-bulletin/an-alternative-version-of-the-kc-fed-lmci-suggests-little-change-in-the-labor-market-in-september/

University of Michigan Consumer Sentiment Index - https://www.sca.isr.umich.edu/

Federal Reserve G.19 Consumer Credit Report - https://www.federalreserve.gov/Releases/g19/current/

New York Fed Survey of Consumer Expectations - https://www.newyorkfed.org/microeconomics/sce#/

Chicago Fed's National Financial Conditions Index - https://www.chicagofed.org/research/data/nfci/current-data

NFIB Small Business Economic Trends report - https://www.nfib-sbet.org/MainPage.html

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’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