Podcast
Nareit's REIT Report Podcast
Hosted by Nareit · EN
A show about the latest news and developments in REITs and real estate investment. All episodes feature informative and timely interviews with REIT and publicly traded real estate executives, analysts, industry professionals, and thought leaders.
23episodes
Episodes
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PwC’s Tim Bodner Sees Volatility Impacting Pace, Not Direction, of CRE Recovery
5d ago00:20:39Tap to summarizeTim Bodner, global and real estate deals leader at PwC, told the REIT Report podcast that the commercial real estate environment is marked by cautious optimism, with investors increasingly focused on how quickly to deploy capital as macro volatility impacts the pace, rather than the direction, of recovery.“We like to think of it as a mood of cautious optimism with the dial creeping up,” he said.Private real estate values appear to have bottomed in late 2024, transaction volumes are expected to rise 16% to 20% this year, and institutional investors have returned as net buyers, he pointed out.Global investors, meanwhile, have raised their planned U.S. allocation from 11% to 16% during the last year. “So even with tariffs and political noise, the U.S. still wins on liquidity, transparency, and just the options around growth,” Bodner said.
Transcribe →Cohen & Steers’ Seth Laughlin on Value of Sector Positioning Amid Disruption
2w ago00:16:51Tap to summarizeSeth Laughlin, head of real estate strategy & research at Cohen & Steers, joined the REIT Report podcast to discuss key forces shaping REIT and listed real estate performance today, including the importance of sector positioning amid an economy facing accelerated disruptions.Citing “massive” changes in corporate and consumer behavior, Laughlin noted that “as we look forward, I think AI is going to be the next disruption to how the economy takes space.” Given these vast shifts, “I do think sector allocation is going to be crucial as we seem to be accelerating these disruptions in the economy.”Laughlin also discussed how, despite geopolitical tension, REITs have managed to maintain their position, showcasing resilience compared to broader market movements. He also pointed to a wide dispersion in sector performance, with some sectors like shopping centers thriving while others are struggling.
Transcribe →How REITs Can Improve Energy Efficiency with Free Virtual Commissioning Resource
2w ago00:22:53Tap to summarizeIn this special episode of the REIT Report, Bridget Bray, director of partnerships at Power TakeOff, joins Nareit’s Jessica Long, senior vice president of environmental stewardship and sustainability, to discuss how the company delivers utility-funded Virtual Commissioning (VCx) programs across the United States. She shares how the firm works with commercial real estate owners to improve net operating income and increase asset value by identifying and rectifying energy waste through analysis of utility smart meter data. She explains how Virtual Commissioning is distinct from traditional retro-commissioning programs—it requires no on-site visits, no hardware installation, and no contracts with building owners. The service is free for building owners and is funded directly by utility partners.Power TakeOff partners with nearly 30 utilities across the country to deliver utility-funded Virtual Commissioning (see map for details). Bray shares details on how Power TakeOff's team of experienced energy advisors analyzes smart meter data remotely to identify abnormalities in energy usage patterns and, through virtual consultations with property managers, facilities managers, or on-site engineers, provides personalized recommendations to optimize existing building systems and controls.
Transcribe →Mizuho’s Vikram Malhotra Sees Logistics Real Estate in Early Stages of New Upcycle
3w ago00:13:03Tap to summarizeVikram Malhotra, managing director, real estate equities at Mizuho, joined the REIT Report to review trends in the industrial/logistics REIT sector. Despite some softness in the first quarter, a new upcycle remains in place, with big box demand playing a key role, he said.Warehouses of over 500,000 square feet have done “very well,” Malhotra said, as companies like Walmart and Amazon adapt to the necessity of quick, last-mile distribution. Mizuho currently estimates overall sector vacancy at 7.5%. That rate is close to peaking, Malhotra said, and then should modestly trend down. “Until we see vacancy trend to about 6%, I think it'll be really hard to see real rent growth…I think we're at least a year away from a very strong market trend.”As for the impact of current global instability, Malhotra noted that “in the very near term, spot demand is strong, but we are monitoring factors where we could see a sign of a pause.” Instability is likely to strengthen the reshoring trend that has been a theme for the past few years, Malhotra added. Despite the ongoing conflict, the demand for logistics space is expected to reach 150-200 million square feet annually, a significant uptick from previous years.Chapters:00:00 AI Sparks Logistics Upside 00:57 Industrial Outlook 2026 01:44 Big Box Demand Split 02:33 Conflict Impact Check 03:54 Supply Chains And Data Centers 05:54 Markets Supply Risk 2026 07:55 Vacancy And Rent Path 09:07 Warehouse Design Shifts 10:49 Power And Automation Edge 11:59 AI Driven E Commerce Cycle 12:49 Wrap Up And Subscribe
Transcribe →KBS’s Marc DeLuca Sees Capital Market Reset Underway for Commercial Real Estate
4w ago00:23:22Tap to summarizeMarc DeLuca, CEO and Eastern regional president of KBS, and chairman of the board at KBS REIT III, joined the latest episode of the REIT Report to discuss how the current market cycle presents a unique challenge, particularly regarding capital availability and costs. Today's environment resembles a capital markets "reset" rather than a structural change in how real estate is used, he said. DeLuca also shared how REITs have performed well compared to other major indices, with their strategic focus on high-quality assets and sustainability attracting investors seeking resilience in their portfolios. As interest rates start to decline, REITs “can act quickly, and their ability to use leverage will be greatly enhanced and allow REITs to grow tremendously,” he said.Chapters:00:00 Rates And Deal Flow 00:27 Meet The Host And Guest 00:59 Capital Markets Reset01:51 Why REITs Diversify 02:49 REIT Sentiment Today 04:02 Prime Office Defined 06:11 AI And Office Demand 07:57 Beyond Office Focus 09:21 Picking Winning Markets 11:03 Deal Approval Playbook 14:02 Relationships Drive Deals 14:39 AI In Real Estate Ops 17:53 Sustainability That Pays 21:10 Watching Rates Ahead 23:07 Closing And Subscribe
Transcribe →REIT Leadership Expectations Shifting Amid More Complex Environment: Ferguson Partners
Apr 2300:13:43Tap to summarizeCourtney Calinog, senior director, and Mike Cordingley, managing director at Ferguson Partners, joined the REIT Report podcast to discuss how leadership expectations for REIT CEOs are shifting in a more complex, capital-constrained environment. Based on conversations with CEOs and senior executives, they found a strong consensus: while technical and financial expertise remain essential, they are now “table stakes,” Calinog said. What differentiates top leaders are people-centered capabilities like self-awareness, communication, and the ability to build trust and clarity amid uncertainty, she noted.The current market demands more strategic, adaptive leadership as cheap capital is no longer a reliable driver, Cordingley pointed out. CEOs must act as “enterprise translators,” he said, connecting capital markets, investor expectations, and operational decisions. At the same time, leadership turnover is accelerating. Most REIT CEOs are still promoted from within—making early leadership development critical. “It's the REITs that are treating leadership capability the way that they treat portfolio construction, (with) the same rigor, intentionality, looking at a long time horizon, that are going to differentiate,” Cordingley said.
Transcribe →J.P. Morgan's Pulkit Sharma on How REITs Play Complementary Role in Diversified Portfolios
Apr 1600:19:20Tap to summarizePulkit Sharma, head of J.P. Morgan Asset Management’s Alternatives Investment Strategy and Solutions (AISS) business, joined the REIT Report podcast to review the evolving landscape of real estate investing, emphasizing the benefits of diversified portfolios that combine public and private strategies. “When it comes to alternatives today, we believe more is better in client portfolios, broader is better, as well as active is better,” Sharma said. Real estate, and REITs in particular, play an important part of that alternative investment landscape, he added.Sharma noted that the increased availability of data today has resulted in a more science, less art-based approach to designing outcome-oriented portfolios that target various client priorities such as income orientation, growth orientation, or a combination of both. A research piece, coauthored with GIC Singapore, shares insights into a framework for building multi-alternatives portfolios, integrating strategic sizing of positions with active marginal capital allocation to improve portfolio outcomes.
Transcribe →Easterly Ranger’s Peter Zabierek Says Complex CRE Backdrop Creates Opportunity for Selective Investors
Apr 900:15:28Tap to summarizePeter Zabierek, senior portfolio manager at Easterly Ranger, joined the REIT Report podcast to discuss some of the complexities of the current real estate market in which “the easy answers are gone,” but where more opportunities exist for investors who can be selective.“It's less about broad sector calls and more about understanding where demand is actually showing up and how capital is being allocated and who can execute. So that's what's driving outcomes right now and that's where the opportunity is,” Zabierek said.During the interview, Zabierek noted that real estate has become a “much more operational business and outcomes are increasingly driven by how well companies execute.” As a result, now is really the time to focus on management teams and how they're executing their business plans, not just the assets that they own, he said.
Transcribe →Baird’s Michael Bellisario Says Lodging REIT Outlook Cautiously Optimistic
Apr 200:14:27Tap to summarizeMichael Bellisario, senior research analyst at Baird, joined the REIT Report to review the outlook for the lodging and hotel REIT sector in 2026, focusing on demand trends, the impact of major events like the World Cup, and strategies for maintaining occupancy and navigating market challenges.Bellisario said the overall outlook for the sector for 2026 is “positive but muted,” following a tough 2025. The World Cup is expected to boost revenue this year, with Baird estimating it will contribute 75 basis points or more to REVpar for the year. “It’s going to be a tailwind. It's just a matter of how much and when do we see those bookings start to pick up,” he said.Meanwhile, Bellisario pointed out that wealthy travelers are currently driving growth within the leisure sector, with high-end hotels performing better than economy and mid-scale segments. Higher-end establishments can charge more for additional services, he noted, such as dining and experiences, beyond room rates. This trend indicates a potential strategy for hotels to focus on non-room revenue streams.
Transcribe →CenterSquare’s Todd Briddell Highlights Alpha Opportunity, Innovation in REIT Market
Mar 2600:26:21Tap to summarizeCenterSquare Investment Management CEO Todd Briddell joined the REIT Report podcast to discuss the evolution of the firm’s REIT strategy during the past 30 years, the impact of market volatility and adjustments, AI and data assimilation in real estate, public versus private real estate market dynamics, sector-specific IPO opportunities, and more.“Over the past 30 years, our team has done an absolutely spectacular job underwriting companies, assessing market conditions, knowing what we don't know in periods of high volatility and uncertainty, positioning the portfolio defensively at the right time periods, (and) not getting over our skis,” Briddell said.Briddell highlighted some of the benefits of public real estate, noting that volatility should be “embraced, not feared” in the REIT market. “What we have done at CenterSquare is really try to educate our investors that volatility is actually a source of alpha. And it is as true today as it has ever been,” he added.
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