CRE Exchange
Catch our bi-weekly podcast as our hosts Omar Eltorai and Cole Perry cover what's happening in the world of commercial real estate.
The CRE Exchange is your go-to podcast for all matters commercial real estate
Hear cutting-edge conversations with industry experts, providing CRE professionals with insights into market behaviors and analysis, enabling them 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.
FEATURED episode
Construction lending bounces back, spreads widen, borrowers hit pause
Cole and Omar interview Andrew Pabon, Altus Group’s Director of Debt Advisory, to break down the Q3 2026 US debt capital markets survey results. With Treasury yields spiking above 5% and the Fed signaling “even higher for even longer,” they explore what’s changed in CRE lending and borrowing. Construction financing has roared back with quotes jumping from 3% to 13% of activity, but borrowers hit pause at the end of the quarter as uncertainty peaked. Spreads widened across the board, floating-rate products returned as lenders and borrowers seek clarity, and fixed-rate loans took the biggest hit from yield movements. They also discuss seniors housing as the hot sector, how negative leverage is affecting valuations, and the gap between legacy loan coupons and today’s elevated rates.
Meet your hosts
Omar Eltorai
Senior Director of Research
Altus Group
Omar Eltorai is a Research Director at Altus Group. With more than a decade of experience in the industry in investment management and financing roles,
Omar's focus is on macro, capital and market trends affecting the US CRE market. Beyond regularly authoring articles and reports, his commentary and analysis has been featured in various media publications, including: Wall Street Journal, Globe Street, and Yahoo! Finance.
Cole Perry
Associate Director of Research
Altus Group
Cole Perry is a Associate Director of Research with Altus Group's Research team. In this role, Cole delivers key insights into macroeconomics, capital markets, and the broader commercial real estate sector.
Cole boasts a rich background in Commercial Real Estate analytics with previous roles at CompStak and Brixmor Property Group. He holds dual M.S. degrees from Columbia University in Urban Planning and Real Estate Development.
Resources
Latest podcasts
Sep 10, 2026
Labor data diverges, data centers dominate Beige Book, CRE implications from bond rout
