Podcast
Bisnow Reports
Hosted by Bisnow · EN
Current Season: First Draft Live
Between economic whiplash, shifting policies and market volatility that changes by the hour, you need industry insights that cut through the noise. That's exactly why we're launching First Draft Live, a new weekly series that breaks down what's happening, why it matters and what you need to know to do better business.
Join us live on Bisnow.com every Friday at 12:30 PM ET / 9:30AM PT for conversations with the industry's sharpest minds discussing the week's most critical stories, or catch the replay right afterwards — here on your podcast app of choice.
25episodes
Episodes
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First Draft Live: Director of Real Estate Economics for MSCI, Jim Costello — Did CRE Call The Recovery Too Early?
1w ago00:39:51Tap to summarizeThe 10-year Treasury rising past 4.5% has taken the wind out of real estate’s recovery sails. Momentum gained in Q1 is already reversing as the war in Iran pushes on inflation. MSCI Chief Economist of Real Estate Research Jim Costello said the volatile bond market is “a new wrench thrown into the works.” And while he believes the CRE recovery is still underway, it’s tenuous.“[Investors] need to do more scenario planning these days, because that’s how you can deal with the growing uncertainty in the market,” he said.
Transcribe →First Draft Live: President of Capital Markets for North America, Newmark Chad Lavender — Inside The Capital Stack: What’s Actually Moving Now
May 100:27:48Tap to summarizeGlobal volatility hasn't pushed commercial real estate investing into a crisis — it's having the opposite effect, Chad Lavender, Newmark's president of capital markets in North America, said on this week's show.Optimism around economic growth is keeping borrowers optimistic that income streams will grow, even if interest rates don't sink. There is no wave of distress on the horizon because debt markets are “almost insatiable,” Lavender said.Despite private credit continuing to grow, bank lending opening up at pre-Covid levels and investors increasingly drawn to hard asset in uncertain times, that doesn't mean windfalls are around the corner or sales activity is about explode.“We know where stuff's going to price, that doesn't mean a seller wants to sell it there,” Lavender said.
Transcribe →First Draft Live: Tract President and Tract Capital Managing Director Graham Williams — Data Center Nation: The Backlash Begins
Apr 1700:29:08Tap to summarizeOnly 0.5% of U.S. land works for large-scale data center development.On this episode of First Draft Live, Tract President and Tract Capital managing director Graham Williams, whose firm is behind some of the biggest data center developments in the country, breaks down why power, water, a shrinking skilled workforce and rising regulation and public backlash are making viable sites surprisingly difficult to find.
Transcribe →First Draft Live: TruAmerica Multifamily President & CEO Bob Hart — Is This Multifamily's Moment Of Truth?
Apr 1000:28:53Tap to summarizeMultifamily is under pressure from every direction, and yet it is still expected to fix America's housing crisis.A record wave of new supply has hit the market, pushing vacancy higher and rent growth flat or negative in several Sun Belt metros. At the same time, Washington is turning up the heat, with voices like Sen. Elizabeth Warren targeting institutional ownership and the Federal Trade Commission applying new scrutiny to rental fees.But with the bulk of the supply tsunami behind us, could 2026 be the turnaround year? Or will it be just another step in a longer reset? On this episode of First Draft Live, Bisnow sits down with Bob Hart, president and CEO of TruAmerica Multifamily, to break down where the market actually stands, where capital is flowing and how investors are making the math work in a sector caught between rising pressure and uncertain recovery.
Transcribe →First Draft Live: Peachtree Managing Principal & CEO Greg Friedman — Iran Conflict's Capital Markets Impact
Mar 1800:30:54Tap to summarizeThis was supposed to be commercial real estate’s year. The industry entered 2026 expecting interest rates to fall, liquidity to rise, and for long-stalled transactions to finally put the pedal to the metal. For a while, it seemed as though CRE would finally be experiencing a true recovery from the massive hit it took during the pandemic.But today, things are looking a little shakier. Global instability surrounding the escalating conflict between the U.S. and Iran has escalated tariff and trade tensions. Meanwhile, $1.2T in real estate loans are expected to mature by 2027, a significant amount of which were originated when borrowing costs were much lower.On this episode, Greg Friedman, CEO of Peachtree Group, one of the most active private credit platforms in CRE, breaks down the impacts as it stands today.
Transcribe →First Draft Live: CEO of Matthews Kyle Matthews — Brokerages vs. AI
Mar 600:30:12Tap to summarizeThis episode of First Draft Live is presented by Agora.The meteoric rise of artificial intelligence has impacted every industry, including the notoriously tech-adverse commercial real estate world.Scores of new AI-driven tools have left brokers sweating over their commissions and wondering if they will be replaced by software that can automate underwriting and surface buyers instantly. And shareholders have been ditching their brokerage stock over concerns the entire business model is at risk. Are their fears overblown, or should brokers be preparing themselves for a future where AI could take their jobs?Both can be true, Kyle Matthews, CEO of Matthews CRE, said on this week’s episode.“I absolutely think there is an overreaction happening,” Matthews said. “And I think there are 100% vulnerabilities, and the nature and the shape of how these services are performed in the next three, five and 10 years, fundamentally, will change.”
Transcribe →First Draft Live: CEO of Continental Properties James Schloemer — Congress Finally Faces The Housing Math
Feb 2000:32:49Tap to summarizeThis episode is presented by Agora.The federal government is poised to enact legislation to make housing development easier.But federal desire does not always translate to local action — and that is where construction actually happens, said Continental Properties Chairman and CEO James Schloemer, who just concluded a two-year term as chairman of the National Multifamily Housing Council.“There are a lot of issues at the local level,” he said. “Between NIMBYs, ... issues regarding building codes and being [too] short-staffed to expedite the necessary permitting and inspections, there are a lot of challenges not correlated to things that the federal government influences.”
Transcribe →First Draft Live: BGO Managing Director & Head of US Debt Abbe Franchot Borok — What Your Investment Committee Wishes You Knew
Jan 2300:33:14Tap to summarizeThis episode of First Draft Live is presented by Agora.Venezuela, Greenland, Canada’s prime minister calling the death of America as global leader. Interest rate watching, Fed independence under question, tariffs.There’s a lot of noise out there in the macroeconomy that can make it hard for CRE to tune into a good deal.And yet Abbe Franchot Borok, BGO managing director and head of U.S. debt, said she is optimistic the year ahead will be a good one for property investment.Sure, it has gotten more complicated and the industry has had to turn to new inputs and data sources. The normal supply vs. demand dynamic is changing as consumer use of commercial real estate has shifted.And yes, she said, Canadian and European investors are not liking what they are seeing out of the U.S. government.But the U.S. continues to be the most liquid and active market in the world, and she doesn’t see a sustained lack of investment in the cards. Good deals are out there for those willing to double down on income generation and executing the business plan on the ground.
Transcribe →First Draft Live: CBRE Global Client Strategist & Senior Economic Advisor Spencer Levy — CRE Wrapped 2025
Dec 1900:42:07Tap to summarize2025 was a noisy year.Policy changes, interest rate adjustments and geopolitical roller coasters kept CRE on their toes.With financing loosening up and transactions picking up, the groundwork is being laid for a better 2026, but where is a safe investment in a world where fundamentals seem to be shifting?CBRE Global Client Strategist and Senior Economic Advisor Spencer Levy said he advises his clients to wade through the noise and look at the drivers in New York, San Francisco, Dallas, Miami and the Midwest to really see what’s on the horizon for CRE. These include the reshoring of manufacturing and the train from Mexico to Canada, which carries nearly $2T in trade each year.“You follow that durable demand driver, that infrastructure, despite some of the tariff noise, despite some of the trade noise, despite some of the political changes — that’s the time to find opportunity,” Levy said.
Transcribe →First Draft Live: Northwood Retail President Ward Kampf- America’s Shopping Hard. So Why Is Retail Still Sweating?
Dec 500:31:37Tap to summarizeThis holiday season is one filled with contradictions for retail real estate. Consumer confidence has plummeted, but their spending is at all-time highs. Leasing is bustling and vacancy is tight, but store closures are outpacing openings.On this episode, Northwood Retail President Ward Kampf joins the show to unpack the uncertainty surrounding the asset class, which has also been deeply impact by tariffs, artificial intelligence and vast changes in behavior between generations.“Young kids today, they eat different and don’t drink as much as we did when we were young,” he said on the show. “They are much healthier than we were. We ate whatever we wanted and drank a lot.”Kampf also discusses what is expected to be a bumpy 2026, predicting even more closures, potential drugstore bankruptcy and backlash to $20 salads and burritos.“The key word going forward, doesn’t matter your political slant, right or left, is affordability,” he said. “People are really conscious of that.”
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