Art Of Boring

In this episode of the podcast, credit analyst Curtis Elkington provides a comprehensive overview of the $50 trillion global commercial real estate market. He covers the current headwinds facing various property sectors, such as pandemic-induced challenges in the office sector and touches on the surprising resilience of the retail segment. Elkington sheds light on the complexities of the commercial mortgage-backed securities market and details the credit analysis process his team uses to evaluate potential investments with examples. Key points from this episode: • Over the past four years, commercial real estate as an asset class has faced potentially the most significant of headwinds, most notably the pandemic and the rise in interest rates.  • While the pandemic had a different impact on each property sector within commercial real estate, higher rates had a much more uniform impact across the various industries. • The overall size of the commercial real estate market, which includes multifamily, office, ret