No Cap by CRE Daily

Fernando De Leon on His Roots, His Rise, and Building a $3B Empire

Season 8, Episode 3: How did Fernando De Leon go from translating legal disputes as a teenager on the US-Mexico border to building Leon Capital Group?Today, we sit down with Fernando De Leon, Founder and CEO of Leon Capital Group, to break down one of the most remarkable founder stories in real estate. Fernando shares how his early life in Matamoros and South Texas shaped his view of risk, opportunity, and systems. We also get into his first real estate equity stake, his time at Harvard and Goldman Sachs, and how he built conviction before the GFC.Whether you’re interested in distressed debt, Texas real estate, AI, data centers, or the mindset behind durable compounding, this episode is a must-listen. Join us as we dive into the skepticism, stamina, and timing that helped Fernando build across real estate, private equity, and operating businesses.Shoutout to our sponsor, Lennar Investor Marketplace. New construction rental investments with comps, returns, and underwriting built in.TOPICS00:00 – Introduction to Fernando De Leon07:00 – Early Real Estate Lessons on the Border14:00 – Harvard, Mentors, and Long-Term Seeds21:40 – Leaving Goldman and Optioning Texas Land28:29 – Buying Distressed Loans After the GFC37:07 – Why 2008 Won’t Repeat the Same Way46:43 – AI, Data Centers, and Hidden Risk52:48 – Building Operating Businesses57:07 – Mental Health, Talent, and New Opportunities01:04:00 – Mistakes, Stamina, and AI DisruptionFor 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.

The Silver Tsunami, Senior Housing, and Managing $55B at Fortress w/ Eli Edwards

Season 8, Episode 2: How does one of the nation’s largest real estate capital pools navigate a "real estate recession" while the rest of the economy stays hot? Today, we sit down with Eli Edwards, Managing Director at Fortress Investment Group and Head of US Real Estate Equity, to break down the firm’s strategy in a shifting market. Eli shares how Fortress spotted the San Francisco multifamily turnaround while the "doom loop" narrative was still in full swing. We also get into the "silver tsunami" in senior housing, why student housing is now a game of picking idiosyncratic winners, and how they are leveraging Delaware Statutory Trusts (DSTs) to provide tax-efficient solutions for retail investors.Whether you’re interested in distressed debt, Core Plus yields, or the future of the Sun Belt, this episode is a must-listen. Join us as we dive into the conviction, timing, and risk discipline that helped Eli and his team at Fortress identify growth opportunities where others only saw risk.Shoutout to our sponsor, Lennar Investor Marketplace. New construction rental investments with comps, returns, and underwriting built in.TOPICS00:00 – Introduction04:14 – Transitioning from Banking to the Buy-Side at Fortress10:21 – Contrarian Plays: Why Fortress Went Heavy on San Francisco Multifamily15:31 – The Sun Belt Outlook and the Looming "Supply Cliff"18:52 – Why Equity and JV Partnerships Trump Preferred Equity Today22:56 – Student Housing: Picking Winners in a Shrinking Demographic Pie25:56 – The Silver Tsunami: Why Senior Housing Fundamentals are "Inelastic"30:51 – Tax-Efficient Strategies and the Launch of the Fortress DST Platform40:21 – GFC vs. Today: Navigating a "Real Estate Recession" Without an Economic One45:54 – Market Outlook: Why 2026 is the Year for Real Estate Fundamental BottomingFor 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.

Presidium: Lessons from Managing 20,000 Units across Multiple Real Estate Cycles w/ John Griggs

Season 8, Episode 1: How did two lawyers turn a handful of Arizona fourplexes into a vertically integrated real estate powerhouse with over 20,000 units renovated? Today, we sit down with John Griggs, Co-CEO and Co-Founder of Presidium, to break down the strategy behind that rise. John shares how he spotted his first opportunity in the "golden age" of the Arizona housing market before shifting his conviction to Texas just as the landscape was beginning to transform.We dive into how Presidium scaled its early portfolio to 5,000 units, the hard lessons learned from internalizing management during the GFC, and the strategic move of acquiring a special servicing company to master the mechanics of distressed debt. Whether you’re interested in ground-up development, creative capital stacks involving HUD debt, or where multifamily opportunity sits in today’s cycle, this episode is a must-listen. Join us as we explore the risk discipline and long-term vision that helped Presidium evolve from a grassroots startup into a dominant institutional investment platform.Shoutout to our sponsor, Lennar Investor Marketplace. New construction rental investments with comps, returns, and underwriting built in.TOPICS00:00 – Introduction and Presidium's Background01:32 – From Silicon Valley Law to the 2003 Arizona "Golden Age"08:03 – Moving to Texas and Raising Capital for Scale10:11 – Navigating the GFC and Internalizing Management14:58 – The Institutionalization of Multifamily Real Estate19:27 – Strategic Acquisition: Buying a Special Servicer24:56 – Launching a Development Platform and Spotting Market Peaks31:18 – Today's Creative Financing: HUD Debt and Housing Authorities36:38 – Targeting Distress and Partnering with Lenders42:15 – Delo Capital and the Outlook for Sun Belt MigrationFor 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.

The Back Office is Dying with Henry AI's Sammy Greenwall

Season 7, Episode 6: How did a former real estate analyst turn the pain of building pitch decks into one of CRE's fastest-growing AI companies?Today, we sit down with Sammy Greenwall, co-founder and CEO of Henry AI, to discuss how artificial intelligence is transforming commercial real estate workflows. Sammy shares his journey from college basketball to helping scale Lev into a $100M venture-backed company before leaving to build Henry AI.The conversation covers the inefficiencies of traditional brokerage workflows, why Henry focuses on delivering outcomes instead of software, and how AI is automating offering memorandums, BOVs, and other time-intensive tasks. Sammy also explains why local brokerage data may be more valuable than national databases, how "humans in the loop" remain critical to adoption, and where he sees the future of AI in commercial real estate.Shoutout to our sponsor, Henry AI. The fast track to investor-ready decks that actually stand out.TOPICS00:00 – Introduction01:39 – The Genesis of Henry AI and Early Conversations03:00 – Sammy’s Background: From the Bay Area to Toll Brothers03:53 – The Pain Point: Spending 70% of the Day in PowerPoint07:41 – The Lev Story: Starting a Company with a Rabbi in a Chabad House11:00 – Scaling to a $100M Series B and "Relentless Grit"13:10 – Leaving Lev to Build a Generational AI Company15:18 – Why Brokerage Costs Are Under Fire18:00 – Why Henry Charges 3x More19:50 – Why the Professional Touch in AI Still Matters21:56 – Identifying the Single Pain Point 24:08 – The Future of Interactive, Digital Offering Memorandums27:19 – The Data War32:58 – Labeling the "Walled Garden" of Commercial Real Estate Data35:30 – Where the Name "Henry" Actually Came From38:14 – CEO ProductivityFor 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.

Betting On Middle America w/ RREAF Holdings

Season 7, Episode 5: How did RREAF Holdings grow into a $4.8B real estate platform across multifamily, hospitality, BTR, and master-planned communities? Today, we sit down with Kip Sowden, Chairman & CEO of RREAF Holdings, and Doug McKnight, President of RREAF Holdings, to break down the strategy behind the firm’s growth across the Sun Belt. Kip shares how he moved from brokerage into principal investing after the GFC, while Doug explains how his fixed income background shaped RREAF’s approach to capital, risk, and liquidity.The conversation covers distressed acquisitions after 2008, bridge lender opportunities today, and why RREAF focuses on “all things residential” across the South and Southeast. Kip and Doug also break down their approach to multifamily, extended stay hotels, beachfront resorts, and large-scale Texas developments, while sharing why they believe a new real estate cycle is beginning.Shoutout to our sponsor, Henry AI. The fast track to investor-ready decks that actually stand out.TOPICS00:00 – Introduction03:45 – Kip Sowden’s Early Career in Brokerage and Mortgage Banking09:28 – Moving Into Principal Investing and Launching RREAF17:03 – Buying Distressed Notes and REO After the GFC24:17 – Structuring $500M+ Multifamily Portfolio Deals30:29 – Master-Planned Communities, BTR, and Texas Growth36:39 – Why RREAF Is Bullish on Extended Stay Hotels42:26 – Why RREAF Focuses on the South and Southeast47:45 – Institutional Capital Returning to CRE54:30 – Where RREAF Sees Opportunity in the Next CycleFor 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.

Why This Distress Cycle Isn't the GFC w/ Värde Partners

Season 7, Episode 4: How does a firm managing $17 billion navigate global real estate through high interest rates and a "hope-driven" market? Today, we sit down with Tim Mooney, partner and global head of real estate and Jim Dunbar, partner and head of real estate lending at Värde Partners. They break down how Värde operates across the capital stack, from senior lending and structured credit to niche equity platforms in student housing and medical offices.Tim and Jim share how their "distress roots" from the GFC shaped their current strategy of building sector-specific operating platforms like Trimont. They explain why today’s cycle is a "slow trickle" compared to 2008, the reality of the upcoming maturity wall, and how they are synthetically creating mezzanine returns. Whether you’re curious about AI’s impact on real estate demand or looking for insights into international markets like India and Europe, this episode is a masterclass in institutional credit. Join us for an unfiltered look at the conviction and data-driven discipline required to manage a global alternative investment platform in today’s cycle.Shoutout to our sponsor, Henry AI. The fast track to investor-ready decks that actually stand out.TOPICS00:00 – Introduction to Värde Partners05:58 – Tim Mooney and Jim Dunbar’s Backgrounds10:05 – The Trimont Acquisition and Data Advantage13:00 – Värde’s Current Strategy: Staying Senior in the Stack15:51 – Case Study: Repurposing Distressed New York Assets22:44 – Lessons from the GFC vs. Today’s "Hope-Driven" Market30:50 – Middle Market Lending and Creating Synthetic Returns34:26 – The Case for Medical Office and Student Housing Platforms41:16 – AI Disruption and the Future of Productivity45:15 – International Complexity: Lending in India and EuropeFor 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.

How ACRE Turned Workforce Housing Into an Investment Grade Asset Class w/ Michael Van Der Poel

Season 7, Episode 3: How did ACRE grow from a post-GFC workforce housing thesis into a global real estate investment firm? Today, we sit down with Michael Van Der Poel, Founding Partner at ACRE, to break down the strategy behind that rise.Michael shares how he spotted workforce housing before it became an institutional trade, and how ACRE built its early portfolio by buying distressed multifamily assets at deeply discounted prices. We also get into raising capital from Asia, building a vertically integrated platform, and expanding across both equity and credit strategies.Whether you’re interested in capital raising, private credit, or where real estate opportunity sits in today’s cycle, this episode is a must-listen. Join us as we dive into the conviction, timing, and risk discipline that helped ACRE grow from a scrappy startup into an institutional investment platform.Shoutout to our sponsor, Henry AI. The fast track to investor-ready decks that actually stand out.TOPICS00:00 – Introduction02:17 – Michael Van Der Poel’s Background and Early Real Estate Career06:55 – ACRE’s Workforce Housing Thesis After the GFC09:56 – Raising the First Fund and Buying Distressed Multifamily15:00 – Building ACRE’s Credit Platform21:13 – Why ACRE Plays Across Equity, Credit, and Development23:21 – Pricing Equity Risk and Finding Returns in Today’s Market38:50 – Rental Housing, AI Disruption, and the Future of Jobs41:03 – Where ACRE Sees Opportunity Right Now46:19 – Multifamily Outlook and the Next Buying WindowFor 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.

Inside Equinox: The Real Estate Behind the Fitness Brand

Season 7, Episode 2: How did Equinox evolve from a single gym in New York to a global luxury lifestyle and hotel brand? Today, we sit down with Jeff Weinhaus, Co-President and Chief Development Officer at Equinox, to break down the incredible real estate strategy behind the fitness empire.Jeff shares the inside story of how a stubborn lease negotiation won over billionaire Stephen Ross, why Equinox builds gyms inside historic bank vaults and sugar factories, and the exact "70/30 Rule" they use to decide which cities get a location next. We also dive into the future of wellness, the shift from cardio to heavy strength training, and what it takes to double a luxury portfolio without losing the brand's soul.Whether you’re curious about the brand's pivot toward longevity and mental health or how they plan to double their portfolio without losing their edge, this episode is a must-listen for anyone in capital markets or real estate development. Join us as we dive deep into the disciplined growth and creative vision that transformed a local family business into a global luxury platform.Shoutout to our sponsor, Henry AI. The fast track to investor-ready decks that actually stand out.TOPICS0:00 - Intro & Jeff Weinhaus’s Background6:07 - The Columbus Circle Deal & Winning Over Stephen Ross10:06 - Expanding Beyond NYC & The First LA Location13:07 - Navigating the Pandemic & Automating the Gym15:33 - The Blue-Collar Origin Story of a Luxury Brand18:54 - Building Gyms in Bank Vaults & Sugar Factories21:37 - The 70/30 Rule of Real Estate & Location Scouting31:19 - Equinox Hotels & The Science of Perfect Sleep39:13 - The Art of the Deal: Negotiating with Landlords43:08 - Sunbelt Migration & Targeting Second-Tier Cities48:08 - Why Gen Z is Spending Their Money on Equinox54:05 - New Fitness Trends: Cold Plunges & Padel1:00:13 - International Expansion: London & The Middle East1:04:37 - The Future: How Equinox Plans to Double in SizeFor 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.

How Harbor Group International Manages $21 Billion Across Multifamily, Office & Credit

Season 7, Episode 1: Season 7 of the No Cap Podcast kicks off with a masterclass in global real estate investment and management. Jack and Alex sit down with Richard Litton, President of Harbor Group International, to explore how the firm scaled from a $1 billion management-focused company to a $21 billion powerhouse.Richard breaks down the creative evolution of Harbor’s strategy, detailing how they pivoted from secondary office markets to becoming the world's most active Freddie Mac buyers. From navigating the current wave of CRE debt maturities to exploring opportunistic plays in markets like Detroit and Cleveland, learn how these experts deploy capital at scale in a reset market.Whether you're looking at workforce housing or the resilience of Manhattan office credit, this episode is a must-listen for understanding today’s complex financing environment. Join us as we dive into the power of vertical integration and strategic risk-reward underwriting in the new era of real estate.Shoutout to our sponsor, Henry AI. The fast track to investor-ready decks that actually stand out.TOPICS00:00 – Introduction01:54 – From Corporate Law to Building a $21B Powerhouse07:15 – Exiting Secondary Office Markets Before the GFC10:55 – Launching the Credit Platform and Partnering with Freddie Mac14:15 – Assessing Risk in a Saturated Private Credit Market18:27 – Workforce Housing vs. Class A: Finding Value in Market Resets23:14 – Navigating Sunbelt Supply and the Realities of Negative Leverage28:37 – Manhattan Resilience and D.C. Credit Plays34:58 – Betting on Detroit, Cleveland, and Norfolk40:59 – Sourcing Deals in a Reset EnvironmentFor 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.

How Fifth Wall Conquered CRE’s Tech Resistance w/ CEO Brendan Wallace

Season 6, Episode 5: The No Cap Podcast continues with hosts Jack Stone and Alex Gornik diving into the high-stakes world of proptech with Brendan Wallace, co-founder and CEO of Fifth Wall. Managing billions for the world’s largest real estate owners, Wallace explains his transition from a New York real estate family to bridging the gap between massive physical assets and cutting-edge technology.The conversation breaks down why real estate has historically been a "luddite" industry and how Fifth Wall’s unique strategy, using major industry players as LPs, turned a "bug into a feature" for tech adoption. From backing unicorns like Procore and Open Door to the strategic acquisition of Industrious by CBRE, Wallace shares the inside track on what actually drives returns in the built environment.Wallace predicts a total revolution where venture firms don’t just build tools, they become the industry players themselves. If you want to know where real estate and AI are colliding, this is the episode to watch.Shoutout to our sponsor, Appfolio. The growth engine transforming how firms handle investor relations and distributions.TOPICS00:00 – Intro to Brendan Wallace and Fifth Wall01:28 – Career Origins: From Times Square to Goldman & Blackstone09:12 – First Successes: Workday Acquisition and Founding Cabify12:35 – Founding Fifth Wall: Filling the Proptech Gap17:00 – Why Real Estate is a Historically "Luddite" Industry19:27 – Winning Bets: Consumer Fintech, Procore, and Unicorns24:43 – Industrious vs. WeWork: The Durable "Flag" Model28:44 – The Future of Multifamily: Aspirational Brands like Sakra33:54 – AI Revolution: Shifting to a "DIY" Internal Tech Model42:58 – The Big Pivot: Why a Lack of Legacy Tech is now a Feature50:15 – VC Evolution: Moving from Building Tools to the Industry ItselfFor 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.