Season 5, Episode 1:

We’re officially launching Season 5 of the No Cap Podcast...and we’re starting strong.

This week, Jack and Alex sit down with Colin Apple, Co-Chief Investment Officer for Bridge Investment Group’s multifamily platform, one of the largest apartment owners in the country. Bridge was recently acquired by Apollo Global Management, giving the platform expanded access to institutional capital while continuing to operate as a standalone real estate business within Apollo.

Colin breaks down how Bridge evaluates dislocation, why capital is behaving the way it is, where they’re still finding opportunity, and what separates durable operators from those getting washed out. If you want a clear read on how one of the most active institutional investors is navigating this cycle, this episode delivers.

Shoutout to our sponsor, Bracket. The AI platform transforming how we underwrite deals.

TOPICS

00:00 – Introduction
01:40 – Colin’s Path Into Real Estate and Joining Bridge
04:18 – Building Bridge’s Platform Across Strategies
08:20 – Growth Drivers: Class B/C, Supply, and Rents
10:40 – Coastal vs. Sun Belt and What “Back” Really Means
14:34 – Sun Belt Check: Cap Rates, Supply, and Patience
18:40 – Underwriting With Higher Expenses
21:00 – Navigating the Cycle and Protecting Downside
26:40 – Cap Rates, Return Hurdles, and 2026–27 Outlook
31:30 – Advice for Young Investors and Finding Opportunity

For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/

Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily

About No Cap Podcast

Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.

About CRE Daily

CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.