No Cap by CRE Daily

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.

Brixmor CEO Brian Finnegan on the Power of Grocery-Anchored Retail

Season 6, Episode 4: Season 6 of the No Cap Podcast continues with a deep dive into one of the most misunderstood sectors in commercial real estate. Jack and Alex sit down with Brian Finnegan, CEO of Brixmor Property Group, to unpack how grocery-anchored retail quietly became one of the most resilient asset classes in the market.From tenant mix and small shop economics to redevelopment-driven growth, Brian breaks down what actually drives performance in today’s retail environment. He also explains how Brixmor has scaled its portfolio of open-air centers by focusing on necessity-based demand and adapting to shifting consumer behavior.They also get into the reality behind e-commerce, why new retail supply has nearly disappeared, and how omnichannel strategies are reshaping leasing, operations, and long-term value creation across the sector.Shoutout to our sponsor, Appfolio. The growth engine transforming how firms handle investor relations and distributions.TOPICS00:00 – Introduction to Brian Finnegan and Brixmor Property Group 02:30 – Career Origins: From Litigation Support to Sales Skills 09:09 – Massive Growth and Strategic Shifts (2004–2006) 14:13 – Partnership with Anchor Tenants and Redevelopment Strategies 15:35 – The Economics of Small Shops vs. Anchor Tenants 17:13 – The "Genetics" and Formula of a Modern Retail Center 18:48 – Health, Wellness, and Fitness Trends in Retail 19:07 – The Growth of "Medtail" and Service-Based Tenants 42:51 – The Future of Shopping Centers and Community Impact 49:00 – Leadership, Culture, and Opening New MarketsFor 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.

Structured Credit, B-Pieces & the Private Markets Opportunity | Chris Hentemann, 400 Capital

Season 6, Episode 3: Season 6 of the No Cap Podcast continues with a masterclass in structured credit and securitized assets. Jack and Alex sit down with Chris Hentemann, the founder and CIO of 400 Capital Management, to explore how his firm navigates complex credit markets. Chris breaks down his firm's flexible approach to both performing and non-performing credit opportunities across residential and commercial mortgage credit.From the mechanics of risk retention and "B pieces" to innovative builder finance structures, learn how 400 Capital identifies asymmetry in global markets. Chris explains how they’ve bridged the gap between bank balance sheets and private capital by creating partnerships that accommodate modern regulatory standards.Shoutout to our sponsor, Appfolio. The growth engine transforming how firms handle investor relations and distributions.TOPICS00:00 – Introduction00:43 – Chris Hentemann’s Career: From First Boston to the 2008 Crisis06:37 – The Founding of 400 Capital and Early Investment Thesis11:52 – Housing Finance, CRT Markets, and the Role of Private Capital16:41 – Masterclass on Risk Retention: B Pieces and Asset Quality Control22:13 – The Evolution of Banks: From Warehouse Lenders to Risk Partners33:30 – Modern Underwriting: AI Integration and Investment Yield Math43:37 – Strategy Spotlight: Builder Finance and Lot Financing Structures48:33 – Global Expansion: European SRT Markets and Regulatory Capital Deals56:56 – Macro Outlook: Rate Cycles, Inflation, and the Power of VolatilityFor 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 the Mind of America’s Largest Grocery-Anchored Landlord: Ross Cooper, Kimco

Season 6, Episode 2: This week on the No Cap Podcast, we're sitting down with Ross Cooper — President & CIO of Kimco Realty (NYSE: KIM) — to talk about one of the most resilient asset classes in commercial real estate: grocery-anchored open-air retail.
Ross is a third-generation real estate operator whose grandfather Milton Cooper co-founded Kimco back in 1958. After 20 years rising through the investment side of the platform, Ross now leads one of the largest publicly traded REITs in North America. This conversation covers all of it — the origin story, the GFC, the "retail apocalypse" narrative, and how Kimco has quietly built one of the most durable portfolios in the business.
We get into how Kimco underwrites acquisitions (location + basis, always), why grocery anchors drive daily and weekly foot traffic that no other asset class can replicate, and how the four segments of the grocery market — traditional, discount, organic, and ethnic — each attract a distinct co-tenancy ecosystem.
 
Ross also breaks down Kimco's approach to redevelopment and densification, including 13,000+ multifamily units either built, under construction, or fully entitled across their portfolio, and why turning a sea of surface parking into a 25-story mixed-use tower can be additive — not disruptive — to the retail below.
We also cover Kimco's structured investment program in preferred equity and mezz financing, how they think about balance sheet discipline (including a decade-long push to earn an A-minus credit rating from all three agencies), and why new ground-up retail construction would require 50–60% rent increases in most markets just to pencil — a supply constraint that's quietly been one of the biggest tailwinds for existing center owners.
If you want to understand how a REIT that's been in the business since Eisenhower still finds mispriced assets, turns over capital intelligently, and thinks about what comes next — this episode is it.Shoutout to our sponsor, Appfolio. The growth engine transforming how firms handle investor relations and distributions.TOPICS00:00 – Introduction 05:13 – Kimco’s First Deal and Early Mistakes10:31 – Curating Tenant Mix Around the Customer15:08 – Omnichannel Retail and Store Importance19:44 – Capital Strategy and Debt Approach25:00 – Portfolio Strategy and Market Positioning30:00 – Leasing Strategy and Tenant Demand35:00 – Redevelopment and Value Creation40:00 – Retail Resilience and Market Outlook45:43 – Development, Densification, and Closing ThoughtsFor 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 a Niche in Opportunity Zone Capital w/ Ackman-Ziff

Season 6, Episode 1: Season 6 of the No Cap Podcast kicks off with a masterclass in Opportunity Zone (OZ) equity. Jack and Alex sit down with Jordan Brustein & Andrew Rudy from Ackman-Ziff to explore how they’ve carved out a unique niche in structured finance.Jordan and Andrew break down the creative evolution of the OZ market, detailing innovative preferred equity structures that solve the 10-year hold challenge for developers. From ground-up developments to post-CO recapitalizations, learn how these capital market experts are resetting the clock on distressed assets and preparing for the next era of "OZ 2.0." Whether you're a developer or an investor, this episode is a must-listen for navigating today's complex financing environment.Shoutout to our sponsor, Appfolio. The growth engine transforming how firms handle investor relations and distributions.TOPICS00:00 – Introduction01:54 – Ackman-Ziff's History and Focus on Structured Finance03:21 – Carving a Niche in the Opportunity Zone Space04:35 – Structuring Preferred Equity for a 10-Year Hold08:55 – Financing Ground-Up Development with OZ Pref14:52 – The Math: 10-Year Outlook and Positive Leverage18:05 – Opportunity Zone Fundamentals and Tax Benefits21:28 – Strategic Recaps: Injecting New OZ Equity Post-CO25:13 – Navigating Qualified Opportunity Zone Compliance30:10 – OZ 2.0: Future Outlook and Global Gain Trends37:21 – Case Study: $200M Recapitalization in Washington D.C.48:41 – The Cycle of Common Equity vs. Private CreditFor 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.