No Cap by CRE Daily

How AI is Making CRE Brokers More Efficient Than Ever w/ Albert Lojko

Season 2, Episode 8: In this episode of the No Cap Podcast, hosts Jack Stone and Alex Gornik sit down with Albert Lojko, President of Lightbox, a company revolutionizing commercial real estate (CRE) by organizing and digitizing fragmented data. Albert discusses how Lightbox is streamlining transactions, enhancing collaboration, and automating key processes, including appraisals and document generation, using AI to improve efficiency and reduce errors.Learn how Lightbox is transforming the CRE industry and how their platform is helping brokers, investors, and lenders make smarter, faster decisions together.CHAPTERS:00:00 – Introduction06:38 – Innovating the CRE Market12:13 – Data Platforms in Transactions19:45 – AI & Human Expertise for Accuracy25:07 – AI’s Role in Data and Docs29:24 – Automating Appraisals36:44 – Lightbox ID & Innovation41:59 – The Future of AppraisersWe want to thank our sponsor Greysteel. For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDailyAbout No Cap PodcastCommercial 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.

Building the Largest Privately Owned Self-Storage Company w/ Cris Burnam

Season 2, Episode 7: On this episode of the No Cap Podcast, hosts Jack Stone and Alex Gornik are joined by Cris Burnham, CEO of StorageMart, the world’s largest privately owned self-storage company. Cris shares the journey from his father's humble real estate beginnings to growing StorageMart into a multibillion-dollar empire, including the $3.2B acquisition of Manhattan Mini Storage.Cris dives into the industry's evolution, from strategic partnerships to adaptive reuse and technological advancements, and discusses the ongoing challenges facing the self-storage sector—like declining home sales and market saturation.CHAPTERS:00:00 – Introduction0:26 -- Cris Burnam's Journey with Storage Mart06:08 – Hostile Takeover and Major Acquisition13:36 – The $7.5 Billion Self-Storage Partnership25:10 – Adaptive Reuse of Office Spaces for Self-Storage33:18 – Iconic Billboard Strategy37:34 – Declining Home Sales and Storage Auctions45:03 – International Self-Storage Growth 54:50 – The Future of Self-Storage and Market ShiftsWe want to thank our sponsor Greysteel. For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDailyAbout No Cap PodcastCommercial 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.

Barron Trump’s First Real Estate Deal? Plus, Tax Hacks & Multifamily w/ Omar Khan

Season 2, Episode 6: In this episode of No Cap Podcast, hosts Jack Stone and Alex Gornik are joined by Omar Khan, founder of Boardwalk Wealth. Omar brings over $3.7B in capital financing and M&A experience, along with a track record of raising over $50 million in equity. He shares his journey from investment banking to commercial real estate, giving us valuable insights into his successful deals and why strategic partnerships and tax efficiency are crucial for multifamily investments.But the conversation doesn’t stop there.We also dive into some of the most talked-about real estate news of the moment: Baron Trump’s real estate ambitions, the Fed’s ongoing interest rate decisions, and how the multifamily market is being shaped by inflation, tariffs, and other key market factors.CHAPTERS:0:00 – Introduction2:30 – Baron Trump’s Real Estate Move5:30 – Baron Trump Entering Real Estate10:00 – Trump’s Legacy & Policies15:00 – Impact of Interest Rates on Real Estate18:00 – Mortgage Rates & Buyer Impact23:00 – North Dakota Tax Breaks & Appeal26:00 – Investing in Secondary Markets32:00 – Real Estate Strategies for Smaller MarketsWe want to thank our sponsor Greysteel. For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDailyAbout No Cap PodcastCommercial 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.

What's Behind Crow Holdings MASSIVE $33 Billion Real Estate Empire

Season 2, Episode 5: In this episode of No Cap by CRE Daily, hosts Jack Stone and Alex Gornik sit down with Michael Levy, CEO of Crow Holdings, one of the most influential real estate companies in the world. Michael shares his personal journey and the history of Crow Holdings, diving deep into their innovative approach to real estate, sustainability, and expansion into energy and mass timber development.They discuss Crow’s legacy, how the company is revolutionizing construction, and how its commitment to long-term environmental impact is shaping the future of the real estate industry.CHAPTERS:00:00 - Introduction 02:08 - Dallas vs. New York05:33 - Moving to Dallas and Joining Crow10:42 - Crow Holdings Legacy and Culture17:17 - The Old Parkland Campus23:09 - Expansion into Energy & Timber30:02 - Multifamily & Industrial Development Focus40:28 - Industrial Market Trends50:35 - Sustainability & Innovation in Real Estate55:58 - Leadership Approach at Crow Holdings01:00:22 - AI and Tech in Real Estate01:05:11 - Career Advice & Success InsightsWe want to thank our sponsor Greysteel. For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDailyAbout No Cap PodcastCommercial 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.

What It Takes To Be A Successful Broker In NYC w/ Bob Knakal

Season 2, Episode 4: In this episode of No Cap by CRE Daily, hosts Alex Gornik and Jack Stone sit down with Bob Knakal, Chairman and CEO of BK Real Estate Advisors. Bob, one of New York City’s top brokers, shares his journey and insights on how he became a leader in the real estate market.They dive into the importance of market knowledge, why prospecting is key to success, and how Bob used social media to expand his reach. Plus, Bob shares what makes the New York market unique and offers advice for aspiring brokers looking to make their mark.CHAPTERS:0:00 - Introduction3:00 - Bob’s Journey in Real Estate7:30 - The Importance of Market Knowledge12:00 - How to Stay on Top in a Competitive Market15:45 - Building a Legacy in Investment Sales20:30 - The Role of Social Media in Real Estate25:00 - What Sets New York’s Real Estate Market Apart30:00 - Current Trends and the Future of the Market35:00 - Advice for Aspiring Brokers and Real Estate Professionals40:00 - The Power of Specialization and ExpertiseWe want to thank our sponsor Greysteel. For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDailyAbout No Cap PodcastCommercial 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 estat4.

C-PACE Financing: The Best-Kept Secret in Real Estate?

Season 2, Episode 3: C-PACE Financing: The Best-Kept Secret in Real Estate?In this episode of No Cap by CRE Daily, hosts Alex Gornik and Jack Stone are joined by Robbie Pinkas, Senior Vice President of PACE Loan Group. They dive into the world of C-PACE financing, explaining how it works and how it can fund energy-efficient improvements, making your property more sustainable and valuable.They also discuss how C-PACE fits into the broader financing landscape, its differences from traditional loans, and why it's important to fully understand the details before jumping in. If you’re wondering whether C-PACE financing is the right fit for your next project, this episode has everything you need to know!CHAPTERS:0:00 - Introduction3:23 - Barry Stern's Return of Starwood Hotels10:11 - Chrysler Building Leasehold Loss15:31 - Loan Modifications and Financing Trends19:47 - What is C-PACE Financing?26:57 - Sound Stage in St. Louis29:36 - Downtown LA Office Tower36:17 - Getting in Touch with Robbie PinkasWe want to thank our sponsor Greysteel. For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDailyAbout No Cap PodcastCommercial 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.

Is Converting Old Offices into Apartments THE BEST Solution to Housing Shortages?

Season 2, Episode 2: In this episode of No Cap by CRE Daily, we explore the rising trend of adaptive reuse in real estate—converting old offices into apartments as a potential solution to the housing shortage.Join hosts Alexander Gornik and Jack Stone as they chat with Anoop Dave and Tim Gordon, Co-Founders of Victrix Investment. They share insights on the challenges and opportunities in transforming office spaces into residential properties.TOPICS0:00 - Introduction2:15 - Civic Support In Adaptive Reuse6:00 - Federal Government’s Role In Conversions9:47 - Hudson Yards Casino Bid & Zoning12:00 - Office-To-Home Challenges In NYC14:00 - Insights On Adaptive Reuse19:13 - Office To Residential Shift24:34 - Success Stories31:28 - Adaptive Reuse Obstacles36:18 - Financial Hurdles & Due Diligence41:00 - Future Of Adaptive ReuseWe want to thank our sponsor Greysteel. For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDailyAbout No Cap PodcastCommercial 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.

Fannie & Freddie’s Future, Trump’s 2025 Policies & LA's Insurance Crisis

Season 2, Episode 1: No Cap by CRE Daily is back and we're kicking things off with a deep dive into the biggest headlines shaping commercial real estate in 2025.
Fannie & Freddie might finally go private—but what does that mean for mortgages, multifamily lending, and the housing market? Trump’s 2025 policies could bring major changes, and soaring insurance costs from LA wildfires are hitting property values hard.
 
Join our hosts Alexander Gornik and Jack Stone as they break it all down
 
TOPICS
0:00 – Introduction
02:15 – Will Fannie & Freddie Go Private?
06:09 – What Happens If Fannie & Freddie Go Private?
10:45 – How Privatization Could Impact Homeowners & Investors
16:20 – Trump’s 2025 Real Estate Policies
20:57 – Will the U.S. Sell Off Federal Real Estate?
28:46 – Hot Rental Markets in 2025
35:39 – Wildfires, Insurance Crisis & Falling Property Values
43:47 – The Biggest Real Estate Loans of 2024
50:10 – 2025 Market Predictions
 
We want to thank our sponsor Greysteel. 
 
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.

Opportunities in Lending & Real Estate Debt w/ Richard Byrne, President, Benefit Street Partners

Season 1, Episode 13: This season finale of No Cap by CRE Daily features a rare conversation with Richard Byrne, President of Benefit Street Partners and CEO of Franklin BSP Capital Corp. Join hosts Jack Stone and Alex Gornik as they explore Richard’s incredible career—from his early jobs and rapid rise at Merrill Lynch in the 80s to his transition into real estate lending at Benefit Street Partners.
 
TOPICS
00:00 – Introduction
00:27 – Richard’s Early Life and First Jobs
03:10 – Climbing the Ladder at Merrill Lynch in the 80s
08:29 – From Casinos to Deutsche Bank
12:50 – Transition to Real Estate Lending
20:49 – Early Involvement with RFT
22:28 – Exploring FBRT and Other Service Lines
24:47 – The Role of Opportunistic Debt Funds (ODFs)
31:51 – Optimism in Today’s Real Estate Market
34:57 – Who’s Still Pursuing Multi-Property Deals
38:38 – Risk Management in Today’s Market
41:15 – Standing Out in the Industry
47:13 – A Banker’s Path to Jiu-Jitsu
58:32 – Advice for Young Professionals
01:01:27 – Conclusion
 
We want to thank our sponsor Viking Capital. 
 
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.

Jilliene Helman on Building RealtyMogul & Real Estate Syndication

Season 1, Episode 12: In this episode of No Cap by CRE Daily, we sit down with Jilliene Helman, founder and CEO of RealtyMogul, to explore her entrepreneurial journey and the evolution of RealtyMogul in the real estate industry. Jilliene shares how her background inspired the launch of RealtyMogul, details the platform’s first deal, and explains the three businesses that form its foundation. We discuss what RealtyMogul looks for in sponsors, the early days of crowdfunding, and the impact of the 2012 Jobs Act on real estate investing. 
 
TOPICS
00:00 — Intro00:47 — Jilliene’s background and what led to creating RealtyMogul02:19 — RealtyMogul’s first deal04:10 — What RealtyMogul is, and the 3 businesses that make it up05:43 — The value RealtyMogul brings to the table07:10 — What RealtyMogul looks for in sponsors09:05 — The first iteration of RealtyMogul, and how it got crowdfunded12:50 — How crowdfunding worked in its earliest stages14:35 — What the 2012 Jobs Act changed, and what stayed the same19:03 — How RealtyMogul handled capital calls20:46 — What a REIT is, and why RealtyMogul got into them23:20 — The future of RealtyMogul25:26 — Why balancing investors and deals is so challenging29:35 — What sponsors should be looking for31:18 — The secret to RealtyMogul’s longevity32:34 — Jilliene’s family background34:17 — What Burning Man is like, and why so many successful people attend37:50 — How Jilliene stays creative39:23 — Jilliene’s favorite travel destinations, and what she loves about Japan40:43 — The potential of the new city being built outside San Francisco43:40 — Why RealtyMogul is bullish on Columbus, Ohio46:18 — The future of crowdfunding in real estate
 
We want to thank our sponsor Viking Capital. 
 
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.