17. The Future of CRE with Brian Stoffers, Global President at CBRE and MBA Chairman

We welcome Brian Stoffers, Global President of Debt and Structured Finance at CBRE and 2020 Chairman of the Mortgage Bankers Association (MBA). In a wide-ranging conversation, Mr. Stoffers discusses trends he’s seeing in the CRE lending space, property type performance, the impact of “forbearageddon,” and how the COVID-19 crisis will change commercial real estate in the long-term. Episode Notes: Outlook for the recovery (1:45) Any notable valuation trends since the onset of COVID? (3:59) What we’re seeing on the lending side (6:20) A new normal in market share? (8:18) Fannie and Freddie reserve requirements (10:30) How has the office underwriting process changed? (12:35) Differences in geographic performance? (15:33) Impact of “forbearageddon” to investors (18:07) Office “hub and spoke“ model (21:53) Future of business travel (or lack thereof) (25:25) The lending slow-down (29:48) What does the deal pipeline look like? (35:50) Investor appetite for ESG reporting (38:49)