CRE Exchange: Commercial Real Estate, Property Valuations, Real Estate Analytics and Property Tax

On this week’s episode of the CRE Exchange podcast, Cole Perry, Senior Market Analyst, and Omar Eltorai, Director of Research, both at Altus Group, delve into recent consumer credit trends, Kroger’s strategic shifts, and the implications of new rental regulations in NYC.Key Takeaways:- [00:06:38] Consumer Credit Surge: A significant rise in consumer credit in July, emphasizing the role of credit card debt.- [00:06:54] Inflation’s Impact: Delving into how inflation is affecting consumer spending habits and the broader economy.- [00:07:13] Kroger’s Financial Performance: Insights from Kroger’s recent earnings call, investment moves and the potential implications for the retail landscape.- [00:09:27] Short-Term Rental Regulations in NYC: A deep dive into New York City’s new regulations and their potential impact on the short-term rental market.- [00:13:27] US CRE industry conditions and sentiment: Our Q3 2023 results are in.- [00:18:43] What we’re keeping an eye on this week.Resources Mentioned:Cole Perry -https://www.linkedin.com/in/coleperry1/Omar Eltorai -https://www.linkedin.com/in/omareltorai/Altus Group -https://www.linkedin.com/company/altus-group/Altus Group’s  US Commercial Real Estate Industry Conditions and Sentiment Survey - https://www.altusgroup.com/insights/cre-industry-conditions-and-sentiment-survey/Altus Group’s  Canada Commercial Real Estate Industry Conditions and Sentiment Survey - https://www.altusgroup.com/insights/cre-industry-conditions-and-sentiment-survey-canada/NYC Law 18 - https://www.nyc.gov/site/specialenforcement/registration-law/registration-rules-and-laws.pageFederal Reserve’s Beige Book - https://www.federalreserve.gov/monetarypolicy/beigebook202309.htmThanks 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

On this week’s episode of the CRE Exchange podcast, Cole Perry, Senior Market Analyst at Altus Group, and Omar Eltorai, Director of Research at Altus Group, review the latest slew of policy rates, economic indicators and market data points impacting the US commercial real estate industry.Key Takeaways:[00:53] Market signals supporting a “softer landing” narrative for the economy.[06:10] Limitations on market optimism within the real estate sector.[08:34] Office lease rollover: the potential implications for some of the largest US office markets.[11:27] Upcoming policy rate decisions from the Reserve Bank of Australia and the Bank of Canada and what they may mean to global central bank monetary policies.[12:15] Top economic indicators to watch this week.Resources mentioned:Cole Perry -https://www.linkedin.com/in/coleperry1/Omar Eltorai -https://www.linkedin.com/in/omareltorai/Altus Group -https://www.linkedin.com/company/altus-group/Reserve Bank of Australia -https://www.rba.gov.au/Bank of Canada -https://www.bankofcanada.ca/Federal Reserve’s Beige Book -https://www.federalreserve.gov/monetarypolicy/publications/beige-book-default.htmNear-term rollover risk endangers major office markets -https://www.altusgroup.com/insights/near-term-rollover-risk-endangers-major-office-markets/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

On this episode of the CRE Exchange, Cole Perry, Senior Market Analyst at Altus Group, and Omar Eltorai, Director of Research at Altus Group, offer a comprehensive analysis of recent economic indicators and their potential ramifications on the commercial real estate sector.Key Discussions:- [00:00:34] Key revelations from the Jackson Hole symposium with emphasis on the Fed’s take on inflation and the looming rate hikes.- [00:03:21] An examination of the current state of the mortgage market, noting the dramatic rise in rates to levels not seen since 2001.- [00:04:43] A detailed analysis of housing data, highlighting the contrasting trajectories of new and existing home sales amidst escalating mortgage rates.- [00:09:22] The earnings and trajectories of industry giants like Zoom and NVIDIA and the increasing role of artificial intelligence.- [00:11:02] Insights from the retail sector with focus on evolving consumer behaviors based on the earnings reports of Lowe’s and Dollar Tree.Resources mentioned:- Cole Perry - https://www.linkedin.com/in/coleperry1/- Omar Eltorai - https://www.linkedin.com/in/omareltorai/- Altus Group - https://www.linkedin.com/company/altus-group/- Jackson Hole Symposium - https://www.federalreserve.gov/newsevents/speech/powell20230825a.htm- CME FedWatch Tool - https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.htmlThanks 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

In this episode of the CRE Exchange, Cole Perry, Senior Market Analyst at Altus Group, and Omar Eltorai, Director of Research at Altus Group, delve into the latest economic indicators and their implications for the commercial real estate market.We discuss:- [00:00:29] The current state of the CRE market and the macroeconomic scene.- [00:00:51] The significant rise in the Atlanta Fed’s GDP forecast and insights from the Fed minutes.- [00:02:34] Concerns about potential inflation and the market’s reaction to the FOMC minutes.- [00:04:22] The impact of rising interest rates on CRE transactions and the challenges in determining property values.- [00:08:33] Key takeaways from recent retail earnings and the shift in consumer behavior toward discount stores.- [00:11:35] The potential downstream effects of retail trends on the industrial sector and the role of e-commerce.- [00:16:40] What to watch out for in the coming week, including Powell’s speech from Jackson Hole.Resources mentioned:Cole Perry -https://www.linkedin.com/in/coleperry1/Omar Eltorai -https://www.linkedin.com/in/omareltorai/Altus Group -https://www.linkedin.com/company/altus-group/GDPNow -https://www.atlantafed.org/cqer/research/gdpnowCME FedWatch Tool -https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html 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

In this week’s news roundup, Omar Eltorai, Director of Research at Altus Group, dives into the latest economic data and earnings reports. Is this the sigh of relief the CRE market has been looking for, or are there still causes for concern?We talk about:- Positive news around CPI and GDP.- Encouraging signs for interest rates.- Insights from recent earnings calls.- What CRE can learn from the ODCE index.Resources mentioned:Omar Eltorai -https://www.linkedin.com/in/omareltorai/Altus Group - https://www.linkedin.com/company/altus-group/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 changes in office demand to travel habits, many factors are contributing to what investors consider core. How do these shifts in the market impact valuations, allocations and the data needed to best manage outcomes?On today’s episode, we’re joined by three guests: Phil Stone, Managing Director, Head of Canadian Research at BentallGreenOak; Omar Eltorai, Director of Research at Altus Group, and Raymond Wong, Vice President, Data Solutions Client Delivery at Altus Group.We talk about:- The current state of core investments in commercial real estate.- How core is changing and how it’s staying the same.- The impact of trends like recovering travel and technology on core allocation.- Are we facing a ‘lower for longer’ return period for core funds?- Risks and worrisome trends.- Issues with housing affordability and shortages.- How tools and data can help chart a path going forward in real estate.Resources mentioned:Phil Stone - https://www.linkedin.com/in/phil-stone-b492472a/?originalSubdomain=caBentallGreenOak - https://www.linkedin.com/company/teambgo/Omar Eltorai - https://www.linkedin.com/in/omareltorai/Raymond Wong - https://www.linkedin.com/in/raymond-wong-cre-54b41111/?originalSubdomain=caAltus Group - https://www.linkedin.com/company/altus-group/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

In this week’s roundup, we take a time machine back through modern history with Omar Eltorai, Director of Research at Altus Group, to see if past financial crises can give us a better sense of what has been transpiring in the current cycle.We’ll also discuss: - The rising cost of capital.- The impact of banking troubles in 2023.- The shifting prominence of non-bank lenders.- Increasing scrutiny of banks.Resources mentioned:Omar Eltorai -https://www.linkedin.com/in/omareltorai/Altus Group -https://www.linkedin.com/company/altus-group/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

On today’s episode, CRE Exchange shares a discussion from this year’s Altus Connect conference on the numerous challenges being faced in today’s market. Our own Rick Kalvoda, President, Altus Analytics - America, hosts the candid conversation with Jeb Belford, Managing Director at Clarion Partners, and Brandon Flickinger, Senior Managing Director at Bridge Investment Group.We talk about:- The impact of trends in the wider economy on commercial real estate investments.- Is there a lot of “dry powder” in the commercial real estate space?- Key macroeconomic metrics to focus on.- Trends around remote work and their impact on office space.- The current state of affairs for industrial and multi-family real estate.Resources mentioned:Jeb Belford -https://www.linkedin.com/in/ralph-belford-0a4a7615/Clarion Partners | LinkedIn -https://www.linkedin.com/company/clarion-partners-llc/Brandon Flickinger -https://www.linkedin.com/in/brandon-flickinger-4195932/Bridge Investment Group | LinkedIn -https://www.linkedin.com/company/bridge-investment-group-holdings/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

Today’s episode is the June edition of the CRE monthly market update, where we delve into the North American CRE market and uncover some of its newest developments and trends.To do that, we’re joined by Peter Norman, Vice President and Chief Economist at Altus Group, and Omar Eltorai, Director of Research, also at Altus Group.We talk about:- Canada’s wildfires and their impact on the economy.- Implications for the interest hike rise in Canada and the debt ceiling resolution in the US.- Ongoing concerns around recession for North America- Observations from the CREFC Annual Conference - Office property sector sentiment and data points- Predicting future behaviors around office space.Resources mentioned:Peter Norman - https://www.linkedin.com/in/peter-norman-20637043/Omar Eltorai -https://www.linkedin.com/in/omareltorai/Altus Group -https://www.linkedin.com/company/altus-group/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 impact of housing affordability is a fast-growing concern, when housing becomes less affordable, it can change employment patterns, limit economic growth, and affect the demand for rental properties, including commercial properties.On today’s episode, we’re joined by Peter Norman, Vice President & Chief Economist at Altus Group, and Omar Eltorai, Director of Research at Altus Group who are here to help us unpack how housing affordability affects commercial real estate in both Canada and the US.We talk about:- The state of housing affordability in the post-pandemic world.- Some factors driving up the cost of housing.- What’s happening with supply and demand for housing?- The impact of rising costs on multi-family homes.- What is being done to help ease the affordability pains in the housing market?- Resources for people to stay informed about affordable housing.Resources mentioned:Peter Norman - https://www.linkedin.com/in/peter-norman-20637043/Omar Eltorai -https://www.linkedin.com/in/omareltorai/Altus Group -https://www.linkedin.com/company/altus-group/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

On today's episode, we have the privilege of hosting two esteemed guests: Omar Eltorai, US Director of Research at Altus Group, and Peter Norman, Chief Economist at Altus Group. Together, we delve into the latest news and movements that are shaping the commercial real estate landscape in North America for the month of May.With valuable insights from Eltorai and Norman, this episode shares an overview of the ever-evolving commercial real estate sector, including macroeconomic indicators, policy developments, and a deep dive into the dynamic retail property market.We talk about:- The strong pace of employment growth in Canada and what this means.- The recent recovery in home sales.- What’s happening with central banks, and how that affects housing prices and more.- How the recent earnings calls will impact the economic narrative.- What has been happening specifically in retail over the last few years?- Predictions for 2023 in terms of retail and commercial real estate.- Positive reflections on the state of commercial real estate and what the future holds.Resources mentioned:Peter Norman - https://www.linkedin.com/in/peter-norman-20637043/Omar Eltorai -https://www.linkedin.com/in/omareltorai/Altus Group -https://www.linkedin.com/company/altus-group/Altus ODCE Webinar - https://info.altusgroup.com/quarterly-analysis-ncreif-odce-index/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 CRE Exchange is your go-to podcast for all matters commercial real estate. It hosts cutting-edge conversations with industry experts that offer CRE professionals timely insight into market behaviors and analysis to discover new opportunities and better manage risks and costs.Whether you buy or build, assist or advise, if you are a key stakeholder in the CRE space, this show is for you.