CRE Daily

What are the biggest challenges in the storage industry? Cris Burnam, CEO of StorageMart dives into the struggles that come with rapid growth and what makes the storage business harder than it seems. Catch the full episode w/ our co-hosts Jack Stone & Alexander B. Gornik on your favorite podcast platform - dropping Sunday!

Zips Car Wash LLC, one of the largest private car wash chains, filed for Chapter 11 bankruptcy due to rising competition, debt, and high lease costs. The car wash sector is undergoing a slowdown, with Zips planning to reject leases for 41 locations and sell several sites to El Car Wash. Read more ?? https://lnkd.in/eDThjT6d

This Sunday, Jack Stone and Alexander B. Gornik sit down with the one and only Cris Burnam, CEO of StorageMart. Curious how he built the world’s largest privately-owned self-storage company? ?? Tune in Sunday on your favorite podcast platform or catch the full video on YouTube!

Wealthy renters are increasingly populating major US metros, a trend driven by rising home prices and mortgage rates, according to a Redfin report. The scoop: ?? Wealthy renters occupy more of the market in 35 of 50 top US metros. ?? Raleigh and Orlando saw increases to 7.7% and 10.8%. ?? High home prices and mortgage rates boost rental appeal. Full story in the comments. ??

?????? ?????????? ???????????????????????????? has halted funding for the $1B Green and Resilient Retrofit Program, leaving many affordable housing projects in limbo. While some funded projects will proceed, others face delays, potentially impacting housing availability for decades. Click for more ?? https://lnkd.in/ey9t8W5B

Manhattan rents hit a record high in February, with bidding wars driving median prices to $4.5K. Here's what we know: ?? Rents rose 6.4% YoY, hitting a new peak. ?? 27% of new Manhattan leases had bidding wars. ?? Brooklyn and Queens faced rising prices, tight supply. ?? Read more in the comments below. Source: Miller Samuel Inc. and Douglas Elliman Real Estate

The US affordable housing crisis is deepening, with a 7.1M-unit shortage leaving millions of low-income renters without options. Here’s what’s happening: ?? Federal cuts threaten HUD, slashing its workforce by 50%. ?? Only 35 units per 100 low-income renters. ?? Las Vegas, Austin, and San Diego suffer most. ?? Check the comments for more.

?? Next up on NO CAP Podcast ?? Jack Stone and Alexander B. Gornik sit down with Cris Burnam, President of StorageMart, to unpack his journey from a single store in Columbia, MO, to running the world’s largest privately-owned self-storage company. With $8B+ in self-storage deals under his belt, Cris has led acquisitions across Canada, the UK, and the U.S.—scaling StorageMart into a global powerhouse. From pioneering online rentals to partnering with Bill Gates’ Cascade Investment, he’s not just shaped the industry—he’s redefined it. And through it all, he’s kept people at the core—both customers and employees. ?? This is a must-listen for anyone who wants a masterclass in leadership, strategy, and resilience. ?? Tune in this Sunday! Listen on your favorite podcast platform or watch the full video on YouTube! https://lnkd.in/gmr2JjyS #NoCapPodcast #SelfStorage #CRE #Leadership #Entrepreneurship #BusinessGrowth #Podcast #CREDaily

Wells Fargo is suing JPMorganChase over a $481M loan to Chetrit Group, alleging inflated financials caused investor losses. With rising CMBS delinquencies, the case highlights growing risks in multifamily lending. Check for more ?? https://lnkd.in/gy5MQfsF

CRE loan delinquency rates have reached their highest point in 10 years, signaling rising distress in the market. Here’s what we know: ?? Q4 delinquencies hit 1.57%, the highest since 2014. ?? $47B in delinquent loans, nearly double from 10 years ago. ?? Office sector struggling with refinancing issues. ?? Check the comments for more. Source: CoStar Group