560 billion reasons the US CRE market is finding its footing
The CRE transaction market posted its first annual property count increase since 2021, industrial dollar volume surged 54%, and office may finally be finding a floor. In this episode of CRE Exchange, hosts Omar Eltorai and Cole Perry break down Q4 ...
CRE Exchange: Commercial Real Estate, Property Valuations, Real Estate Analytics and Property Tax · Altus Group
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Show Notes
The CRE transaction market posted its first annual property count increase since 2021, industrial dollar volume surged 54%, and office may finally be finding a floor. In this episode of CRE Exchange, hosts Omar Eltorai and Cole Perry break down Q4 and full-year 2025 transaction data, pricing trends across major sectors and MSAs, and what the numbers say about where the market is heading. Featuring a special conversation with Phil Tily, Alex Jaffe, and Mike Amthor from Altus Group's advisory practice on valuation and performance trends across the ODCE Index.
Key moments
01:28 Key stat of the day and macro backdrop
05:50 Q4 and full year transactions
09:12 Velocity and pricing trends
12:36 Subsector and deal size comparisons
14:13 Geographic winners and losers
19:15 Biggest surprises in 2025
21:48 Sector shockers: retail, industrial, office
27:21 ODCE data and Q4 returns
31:46 Apartments trends and outlook
35:20 Industrial markets and SoCal repricing
40:56 Office stabilization and green Shoots
46:58 Retail resilience and mark-to-market
Resources mentioned
Phil Tily: https://www.linkedin.com/in/phil-tily-7b9a9027/
Mike Amthor: https://www.linkedin.com/in/michael-amthor-40865154/
Alex Jaffe: https://www.linkedin.com/in/alexander-jaffe-mai-31425123/
Q4 2025 US CRE Investment and Transactions quarterly report: https://www.altusgroup.com/featured-insights/cre-transactions/
Altus' Q4 valuation and performance trends analysis of the NCREIF ODCE Index: https://www.altusgroup.com/webinars/ncreif-odce-index-quarterly-analysis/#featured
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