418. How CRE Lending is Changing: Bigger Deals, Data Center Capital, & AI with Catherine Sierakowski, BMO Capital Markets

In this special guest episode of the TreppWire Podcast, we sit down with Catherine Sierakowski, Managing Director & Group Head of Corporate Banking, North American Real Estate at BMO Capital Markets. Catherine reflects on her nearly 20-year career at BMO, from starting in banking during the Global Financial Crisis to helping build the firm's institutional real estate platform and now leading its North American real estate corporate banking business. We discuss how CRE lending has evolved from traditional balance sheet lending to more strategic capital solutions, along with where Catherine sees opportunity in today’s CRE market. We explore the explosive growth of the data center sector and the unique challenges of financing assets that sit at the intersection of real estate, technology, power, and corporate credit. Catherine shares her perspective on relationship-driven lending, effective client engagement, and the importance of balancing AI-driven insights with experienced human judgment. Tune in now.Episode Notes• Start at BMO (0:00)• Real Estate Cycles (4:20)• BMO Banking Strategy (8:23)• Massive Data Center Deals Pricing (15:56)• Where to Find Opportunity in CRE (24:54)• How Transforms Lending (28:32)• Shoutouts & Closing (33:40)Questions or comments? Contact us at [email protected]. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp