Free Daily Podcast Summary
No Cap by CRE Daily: Daily Summaries Delivered
by CRE Daily
Commercial 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.
Latest Episodes
The most recent episodes — sign up to get AI-powered summaries of each one.
- 2 days ago1h 4m
First Washington Realty CEO on Building a $9B Retail Empire
Season 10, Episode 4: Why would a shopping center owner turn down the highest-credit tenant in the building? First Washington Realty CEO Alex Nyhan explains why he thinks a center full of national credit names can cost you the customer. Nyhan runs one of the largest owners and operators of grocery-anchored and neighborhood retail in the country, with nearly 150 shopping centers across 22 states. He started as a special assistant in the mayor’s office in Washington, DC, spent years at Forest City Enterprises, and joined First Washington in 2014. He walks through how the company roughly tripled in about a decade, how his team won the Donahue Schriber portfolio by modeling every unit from scratch, and why essential tenants kept COVID rent abatements under 1%. He also gives a direct take on enclosed malls, smoke shops, and why wealthier shoppers trading down to TJ Maxx helps his centers. CHAPTERS 00:00 - From Citizen Cope to Commercial Real Estate 08:02 - Learning Deal Making in the DC Mayor’s Office 12:14 - Forest City and Building Complex Urban Projects 15:03 - Why Alex Joined First Washington Realty 20:09 - Scaling Without Chasing Scale 23:02 - Inside the $3B Donahue Schriber Acquisition 33:23 - Culture, Growth, and a Conservative Capital Stack 39:01 - Why Grocery-Anchored Retail Keeps Winning 47:38 - Tenant Mix, Malls, and the K-Shaped Consumer 57:50 - Why Difficult Markets Favor Real Operators For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/ Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily About No Cap Podcast Commercial 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.
- 1 weeks ago1h 15m
ACORE’s Warren de Haan: You Can’t Hedge a Bad Loan
Season 10, Episode 3: In 2007, Warren de Haan saw loans being written at 80% LTV with 10 years of interest-only and decided to step back. That call shaped how he runs one of the largest non-bank lenders in the country. Warren de Haan is CEO and co-founder of ACORE Capital, which manages more than $17 billion. He previously built originations platforms at Starwood Property Trust and Countrywide Commercial Real Estate Finance. The tension: capital is plentiful, but so is distress, and de Haan thinks lenders will have to be disciplined asset pickers. He walks through how ACORE decides whether to take a property back, where he sees mispriced multifamily and industrial, and why he thinks many new private credit entrants will not last. CHAPTERS 00:00 - Warren de Haan and the Road to CRE Credit 08:22 - Breaking Into Wall Street at Nomura 15:00 - Countrywide and the Warning Signs Before the GFC 20:06 - Building the Short Before the Market Broke 24:04 - Starwood and the Birth of Institutional Private Credit 30:38 - Why Warren Started ACORE Capital 35:16 - How ACORE Worked Through COVID Distress 43:16 - Where the CRE Market Stands Today 55:30 - Why Early 2020s Multifamily Still Worries Him 01:08:29 - Why Some New Private Credit Players Could Get Washed Out For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/ Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily About No Cap Podcast Commercial 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.
- 2 weeks ago1h 14m
Change Equals Opportunity: Ex-CEO Jim Keyes on 7-Eleven, Blockbuster, and the Deals That Got Away
Season 10, Episode 2: What really happened to Blockbuster, and what did 7-Eleven understand that other retailers missed? Jim Keyes, former CEO of 7-Eleven and Blockbuster, joins No Cap to talk about the rise, reinvention, and disruption behind two of America’s most recognizable retail brands. Jim explains how 7-Eleven used technology, franchising, and real estate to scale globally, why Blockbuster’s collapse was far more complicated than simply missing streaming, and how deals with Google, MovieLink, and Viacom could have changed its future. The conversation also covers Carl Icahn, the 2008 financial crisis, retail real estate, AI, education, and why Jim believes adaptability and human skills will matter more than ever. CHAPTERS 00:00 - Jim Keyes on 7-Eleven, Blockbuster, and Real Estate 08:32 - From Columbia to the Oil Business 16:17 - How 7-Eleven Survived Bankruptcy 24:34 - The Real Estate Behind 7-Eleven’s Franchise Model 34:00 - Carl Icahn and the Move to Blockbuster 42:00 - Why Blockbuster’s Real Estate Wasn’t the Problem 49:07 - The Three Deals That Could Have Changed Blockbuster 57:20 - Why Human Skills Matter More in the Age of AI 01:05:02 - Why Jim Wants to Reinvent Education 01:12:19 - Why Education Is More Important Than Ever For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/ Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily About No Cap Podcast Commercial 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.
- 3 weeks ago1h 4m
Operators vs. Dealmakers, the Bid-Ask Gap & Why Affordable Housing Can't Be Built w/ Monarch and TGM
Season 10, Episode 1: Two multifamily operators with very different ways of raising capital agree on one rule: don't flip. Bob Nicolls owns Monarch Investment and Management Group, a Midwest-based operator of mostly B and C apartments funded by individual investors. John Gochberg is President and CEO of TGM Associates, which has managed money for large pension funds since 1991. They met at a principals-only dinner at the National Multifamily Housing Council conference and now co-host it. The tension worth tuning in for: Nicolls says the industry's vacancy numbers are misleading, Gochberg wonders whether some of today's trades are the next bubble, and both say the best deals are often the ones you skip. CHAPTERS 00:00 - Bob Nicolls and John Gochberg Join No Cap 07:00 - How Institutional Capital Entered Multifamily 14:00 - Individual Capital Versus Pension Fund Capital 21:00 - What Makes a Multifamily Deal Worth Buying 28:00 - The Affordable Housing Problem 35:00 - Amenities, Turnover, and Long-Term Operations 42:00 - Is Now Actually a Good Time to Buy? 49:00 - Secondary Markets, Fannie, Freddie, and Financing 56:00 - Building Monarch and Buying a Ski Resort 01:01:00 - Why Consistency Matters in Real Estate For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/ Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily About No Cap Podcast Commercial 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.
- Oct 4, 202652 min
Encore: Bob Knakal - What It Takes To Be A Successful Broker In NYC
From the No Cap vault, we’re bringing back the episode that became our most-watched conversation ever. Bob Knakal had already closed more than 2,300 deals, built one of New York City’s dominant investment sales firms, and spent four decades studying what separated top brokers from everyone else. In this conversation, Bob broke down the habits behind his career, why specialization mattered, how deep market knowledge created a real competitive advantage, and why he was still targeting 100 prospecting conversations a week. We also covered New York development, assemblages and air rights, office-to-residential conversions, social media, AI in brokerage, and why Bob believed the individual broker mattered more than the logo on the business card. For brokers, investors, developers, and anyone building a career in CRE, this remained one of the most practical conversations we’ve had on No Cap. CHAPTERS: 0:00 - Introduction 3:00 - Bob’s Journey in Real Estate 7:30 - The Importance of Market Knowledge 12:00 - How to Stay on Top in a Competitive Market 15:45 - Building a Legacy in Investment Sales 20:30 - The Role of Social Media in Real Estate 25:00 - What Sets New York’s Real Estate Market Apart 30:00 - Current Trends and the Future of the Market 35:00 - Advice for Aspiring Brokers and Real Estate Professionals 40:00 - The Power of Specialization and Expertise If you enjoyed this conversation, don't forget to LIKE, COMMENT, and SUBSCRIBE for more deep dives into commercial real estate. More Episodes: For more episodes of No Cap Podcast by CRE Daily, visit our podcast page: https://www.credaily.com/podcast/ Get Smarter About What Matters Join 65,000+ industry leaders getting the latest market insights and trends delivered straight to their inbox. Sign up for the CRE Daily Newsletter today! https://www.credaily.com/newsletter-s... About No Cap Podcast No Cap by CRE Daily offers an unfiltered look into commercial real estate's biggest trends and the financial dynamics shaping the industry. Co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential figures in real estate. About CRE Daily CRE Daily empowers professionals with the knowledge they need to make smarter business decisions. Our flagship newsletter, read by over 65,000 investors, developers, brokers, and industry leaders, delivers concise, need-to-know trends, making us one of the fastest-growing media brands in commercial real estate. Podcast: https://www.credaily.com/podcast/ Facebook: / credaily Instagram: / thecredaily TikTok: / thecredaily X (Twitter): <a href='https://www.youtube.com/redirect?event=video_description&redir_token=QUZZTVljRU9XejJOLThJUkdqaGhNT280d1d5X3xBTl9pYzRkbW1mYVBRazRUU210N0FYU0ktcVY0U1owSWQ4UHIxVmtFSDhzWjhfenFLU3ZIUUVyallLZzdvUHVKd19sYkJFZTZOSmRGdmNwZ3kxOTBUSkc5ZG5BNDd6WHducGhp&q=htt
- Sep 27, 202648 min
Five Cycles In: DWS's Todd Henderson on What Comes Next for CRE
Season 9, Episode 6: Todd Henderson has invested through five real estate cycles, and he thinks the one we're leaving set up the healthiest recovery he's seen. Henderson is Head of Real Estate for the Americas at DWS, Deutsche Bank's asset management arm, whose real estate business traces back to RREEF's founding in 1975. He began his career in the bad bank at First Gibraltar during the S&L crisis, spent a decade buying distressed loans at The J.E. Robert Company, and joined DWS in 2003. The tension worth tuning in for: values fell roughly 25% while property fundamentals held up, which Henderson says leaves real estate cheap relative to equities, gold, and private credit just as new supply dries up. Shoutout to our sponsor, WareSpace — turning underused industrial, flex, office, and big-box properties into micro warehouse space for small businesses. CHAPTERS 00:00 - Todd Henderson and the History of DWS and RREEF 05:49 - Starting in Real Estate During the S&L Crisis 11:38 - Five CRE Cycles and the 25% Value Reset 16:58 - Why Institutional Capital Is Coming Back 21:09 - Private Credit and Real Estate Debt 24:13 - Why DWS Is Buying Sun Belt Multifamily 29:49 - Build-to-Rent and the Housing Shortage 32:35 - Why Grocery-Anchored Retail Keeps Winning 36:38 - Real Estate as the AI Immunity Trade 40:04 - What Past Cycles Say About the Next CRE Run For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/ Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily About No Cap Podcast Commercial 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.
- Sep 20, 202648 min
Trinity Investments CEO on Buying Hotels Nobody Else Can Build
Season 9, Episode 5: Sean Hehir has spent nearly three decades turning Trinity Investments into a specialist hospitality investor, and he joins the show to explain why his firm only buys resorts it considers truly irreplaceable. Hehir grew up in Botswana, trained at hotel school in Switzerland and Cornell, and joined Trinity in 1998 before taking over as CEO in 2009 and steering the firm to focus solely on hospitality real estate. He now oversees a portfolio built with Hilton, Marriott, and Hyatt, and with mega private equity funds that lean on Trinity's hospitality expertise. The tension worth tuning in for: Trinity has walked away from cap-rate arbitrage and ultra-luxury boutiques alike, betting instead that scale, counterparty discipline, and genuinely irreplaceable real estate are what hold up when the market throws a curveball — which, as Hehir tells it, happens on nearly every deal. This episode was recorded on 7/21/26. Views, market conditions, and any figures or references discussed may have changed since recording and may not reflect current conditions at the time of release. Nothing in this podcast should be construed as investment, legal, or tax advice. Nothing in this episode is an offer to sell, or a solicitation of an offer to buy, any security or any interest in any fund or investment vehicle. Shoutout to our sponsor, WareSpace — turning underused industrial, flex, office, and big-box properties into micro warehouse space for small businesses. CHAPTERS 00:00 - Introduction to Sean Hehir and Trinity Investments 04:14 - Why Hospitality Is Different From Other Real Estate 08:16 - Learning Hotels From the Ownership Side 13:38 - East Miami, Swire, and the Blackstone Exit 19:15 - Buying and Renovating The Diplomat Beach Resort 24:04 - Hotel Amenities That Actually Matter 29:04 - Why Nobody Is Building These Resorts Anymore 33:17 - The JW Marriott Marco Island Deal 39:04 - Picking Partners, Brands, and Lenders 44:10 - Why Trinity Likes Four-Star Resort Assets For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/ DISCLAIMER: Nothing in this episode is an offer to sell, or a solicitation of an offer to buy, any security or any interest in any fund or investment vehicle. Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily About No Cap Podcast Commercial 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.
- Sep 13, 202653 min
Small Bay, Big Potential: Commercial Real Estate’s Most Resilient Asset Class w/ Anthony Scavo
Small bay industrial has quietly become one of the most resilient corners of commercial real estate, and Anthony Scavo has built his entire business around it. As President and Managing Partner of Basis Industrial, he's grown the firm from three employees to over 50, assembling a multi-tenant small bay and self-storage portfolio that now tops 10 million square feet across Florida, Texas, Georgia, New York, and California. Anthony got his start at Lefrak before joining Basis in 2021 to build out its multi-tenant industrial platform. In this conversation, he breaks down why he believes small bay is safer than multifamily today, why new development doesn't pencil, and the wildest tenant stories from a decade in the business. Shoutout to our sponsor, WareSpace — turning underused industrial, flex, office, and big-box properties into micro warehouse space for small businesses. CHAPTERS 00:00 - Introduction 03:05 - Defining Small Bay Industrial 05:16 - Anthony's Brooklyn Roots and Lefrak Beginnings 12:18 - Joining Basis Industrial in 2021 14:52 - From Self Storage to Small Bay 24:44 - Why Small Bay Is Safer Than Multifamily 34:36 - Why No One Is Building New Small Bay 41:04 - War Stories: Casinos, Man Caves, and Wild Tenants 50:42 - The Future of Small Bay Consolidation For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/ Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily About No Cap Podcast Commercial 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.
Get No Cap by CRE Daily summaries in your inbox
Free AI-powered daily recaps. Key takeaways, quotes, and mentions — in a 5-minute read.
Get Free Summaries →Free forever for up to 3 podcasts. No credit card required.
You Might Also Like
Listeners also like.
The Capitol Forum
A podcast exploring policy debates, antitrust issues, and corporate investigations shaping American markets and power.
The MORE Show
Real estate investing education focused on multifamily properties and passive income through expert interviews and practical guidance.
The Owner Meeting
Real estate investors share proven strategies and costly mistakes to help others build wealth and achieve financial freedom.
Uncapped | Benchmark Breakfast
Benchmark
The Compound and Friends
Expert analysis and candid discussions on business and investing trends with a rotating panel of financial professionals.
Capitalisn't
Examines the flaws in modern capitalism and explores solutions with insights from economics and business journalism.
The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network
Analyzes the investment strategies of billionaire investors and explores lessons from legendary financiers on wealth, wisdom, and life.
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
Interviews with top venture capitalists and successful founders about startup funding and building tech companies.
The Money Mondays
Business discussions on investments, side hustles, and entrepreneurship with experts, athletes, and influencers in personal settings.
The Best One Yet
A daily 20-minute podcast breaking down the three key business stories with sharp, accessible takes.
Team Lead Talks
Andrew Becker and guests discuss real estate business strategies, scaling, and market trends with industry leaders.
Coffeez with Joe Shalaby
Conversations with entrepreneurs, investors, and cultural figures reveal the real strategies, struggles, and costs behind success.
About No Cap by CRE Daily
Commercial 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.
Customized Recaps
AI-powered recaps with compact key takeaways, quotes, and insights.
Straight to Your Inbox
Get key takeaways from No Cap by CRE Daily in a 5-minute read.
Save Hours Every Week
Stay current on your favorite podcasts without falling behind.
Frequently Asked Questions
What is Podzilla's No Cap by CRE Daily daily summary?
It's a free AI-powered email that summarizes new episodes of No Cap by CRE Daily as soon as they're published. You get the key takeaways, notable quotes, and links & mentions — all in a quick read.
How does the No Cap by CRE Daily podcast summary work?
When a new episode drops, our AI transcribes and analyzes it, then generates a personalized summary tailored to your interests and profession. It's delivered to your inbox every morning.
Is this an official No Cap by CRE Daily product?
No. Podzilla is an independent service that summarizes publicly available podcast content. We're not affiliated with or endorsed by CRE Daily.
Can I get summaries of other podcasts too?
Absolutely! The free plan covers up to 3 podcasts, any in the catalog. Basic raises that to 15, Pro to 40 and Max to 100. Browse our full catalog at /podcasts.
How often does No Cap by CRE Daily release new episodes?
No Cap by CRE Daily publishes weekly. Our AI generates a summary within hours of each new episode.
What topics does No Cap by CRE Daily cover?
No Cap by CRE Daily covers topics including News, Business, Investing. Our AI identifies the specific themes in each episode and highlights what matters most to you.
Start getting No Cap by CRE Daily summaries tomorrow morning.
Free forever for up to 3 podcasts. No credit card required.
Free forever for up to 3 podcasts. No credit card required.