Episode 424 is out! The 10-year pushes past 5%, diesel prices bite, and Fed speakers keep the door open. We get into the pushback on the AI buildout, what a hotel brand really tells you about loan performance, plus office, industrial & retail stories. Tune in now: hubs.li/Q04ygZ5q0

Trading Alert: Jersey City Hotel Loan Returns to Special Servicing A $100M CMBS loan transferred to special servicing ahead of its October maturity, with an imminent balloon and maturity default. The borrower indicated it will be unable to pay off the loan at maturity. The collateral is a 351 key full service hotel in Jersey City, NJ. Clients have the story with Trepp: hubs.li/Q04y14LF0

Amazon and FedEx together anchor $6.57 billion of industrial CMBS loan balance, more than the next 10 largest named anchor tenants combined. But their lease rollover profiles look very different. For FedEx, 28.6% of anchored loan balance has a lease expiring before the associated loan matures, compared with just 9.2% for Amazon. Read the full analysis: hubs.li/Q04ycY560

Trading Alert: Memphis Regional Mall Loan Returns to Special Servicing A $155.2M CMBS loan transferred back to special servicing ahead of its November maturity after previously being returned to the master servicer in 2021. The collateral is a 391,862 square foot portion of a regional mall in Memphis, TN, with 69% occupancy as of the first quarter of 2026. Clients have the story with Trepp: hubs.li/Q04y14xy0

Three recent office CMBS stories show just how differently assets are navigating the current financing market. A $219 million financing is supporting a partial office-to-residential conversion at 100 Wall Street. A $1.1 billion Los Angeles office and studio portfolio received another extension, while a $396 million Manhattan office loan transferred to special servicing ahead of maturity. From conversion to extension to special servicing, this episode of The TreppWire Podcast examines how financing outcomes are increasingly dependent on the individual asset, capital structure, and business plan. Tune in now: hubs.li/Q04y3R7q0

Trepp featured in @WSJ: "About 3% of multifamily loans coming due this year that cannot be extended are in some kind of distress, the highest level over the past five years, according to Trepp." hubs.li/Q04y2WDq0

Trading Alert: Times Square Mixed Use Loan Transfers to Special Servicing A $200M CMBS loan transferred to special servicing for imminent balloon and maturity default ahead of its November maturity. The collateral is a 214,341 square foot mixed use property in Times Square, Manhattan, with 100% occupancy as of June 2026. Clients have the story with Trepp: hubs.li/Q04y14s40

New episde: Joey Chilelli of Vanbarton Group joins us to make the case that office-to-residential conversions are here to stay. He explains why the gap between the best office space and everything else is structural rather than cyclical, why the price you pay decides a deal far more than the building itself, and why lenders who once avoided these projects are now competing for them. Tune in: hubs.li/Q04y04Fy0

Trading Alert: SoHo Manhattan Office Loan Transfers to Special Servicing A $785M CMBS loan transferred to special servicing ahead of an imminent balloon and maturity default after the borrower requested discussions about a potential extension or modification. The collateral is a 786,891-sf office property in SoHo, Manhattan. Clients have the story with Trepp: hubs.li/Q04xMyFm0

Episode 422 is out! The Fed hiked for the first time in three years, but rates can't fix oil-driven inflation, and CRE feels it first. We also dig into FedEx-anchored industrial loans that look healthy but face lease rollover risk, and explain why office capital is back but selective. Tune in now: hubs.li/Q04xMWYf0

The Trepp CMBS special servicing rate climbed 33 ps in August to 11.42%, the highest level since February 2013. A single $1.10B Hollywood studio-and-office loan drove mixed-use up 154 bps to 13.47%. Office rose 32 basis points to 16.90%, with large CBD loan transfers contributing to the increase. Download the full report: hubs.li/Q04xMy9x0

Office operating expenses have outgrown revenues every year since 2021, and the gap hasn't closed once. Trepp's next Market Pulse Webinar breaks that down further, including which markets face the greatest net operating income pressure. The session also compares multifamily performance between the Western U.S. and the rest of the Sun Belt across several of the country's largest markets. It does the same for self-storage, looking at how the West Coast stacks up against non-Western Sun Belt markets. Join us on Wednesday, September 30 at 2:00 PM ET. Click here to register for the live webinar: hubs.li/Q04xK0B10

Acquisition and refinance debt yields diverged sharply across the 2021-2022 CMBS vintages, for multifamily, office, and retail alike. The sectors bought hardest were financed the thinnest. Download the full report here: hubs.li/Q04tThM10

Special live edition at @CAMortgBankers' Western States CREF conference: Beyond the headlines, what does the data really say about today's CRE market? We examine the Western office recovery, life sciences distress, multifamily's maturity challenges, and what self-storage might be signaling. Follow two properties through different cycles to see how performance, value, and credit tell different stories. Tune in: hubs.li/Q04xcn-V0

Office expense growth slowed in 2025, but median NOI growth stayed negative. Among CMBS-backed office properties, median growth in operating expenses eased to 2.1% from 2.5% in 2024. Median revenue growth also slowed, to 0.7% from 1.1%, while median NOI growth remained below zero at -0.4%. Trepp's new report tracks the line items behind office operating performance and how results differ across markets. Download the full report: hubs.li/Q04xb1Dx0

77% of 2021 multifamily acquisition volume priced outside the Top 25 MSAs. Those loans carried a wider cap rate but a lower debt yield than Top 25 loans, a sign they were levered harder relative to income. Explore the MSA-level data: hubs.li/Q04tT6CP0

A $24.6M CMBS loan transferred to special servicing for imminent monetary default after the borrower indicated it would no longer fund shortfalls. The collateral is a 265,190 square foot office property in Jacksonville, FL. Get the full story with Trepp: hubs.li/Q04wVwN90

A $26.5M Atlanta area multifamily CMBS loan transferred to special servicing due to cash management noncompliance, failure to satisfy debt yield requirements and potential insurance cancellation for nonpayment. The collateral is a 181 unit multifamily property in Marietta, GA. Clients have the story with Trepp: hubs.li/Q04wVwsv0

How has storytelling become a competitive advantage in commercial real estate? We asked Spencer Levy, the voice behind The Weekly Take. In this special guest episode of The TreppWire Podcast, we sat down with Spencer Levy, Global Client Strategist and Senior Economic Advisor at CBRE and host of The Weekly Take, to explore how storytelling has become a powerful tool for building relationships, sharing market insights, and creating influence in commercial real estate. Tune in now: hubs.li/Q04wKFrk0

College football rankings may tell us more about where securitized student housing debt is concentrated than academic rankings do. Trepp analyzed $29.3B of outstanding securitized student housing debt and found that the AP Top 25 accounted for $6.1B, or 21%, compared with $3.4B, or 12%, around the U.S. News top 25 universities. Tune in now. Sponsored by @levsoftware: hubs.li/Q04wKShW0