What Dead Malls Tell Us About the Future of Commercial Real Estate

Odd Lots

Bloomberg

News, Investing, Business, News Commentary, Business News

4.4 • 1.6K Ratings

🗓️ 4 December 2023

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

There's been a lot of worry over the future of commercial real estate — especially the outlook for office buildings — in light of higher interest rates and the trend towards work from home. But years ago, Wall Street was worried about a different type of CRE: shopping malls. Back in the 2010s, loans backing malls were souring fast, as customers ordered more online and major anchor tenants (like Sears) shuttered their doors. There were sites such as Deadmalls.com that tracked closures around the country, complete with apocalyptic-looking photos of empty buildings. But of course, while the overall number of shopping malls in the US has dropped, not all of them disappeared. Some have even thrived. So what can the shopping mall experience tell us about the outlook for offices and the broader commercial real estate market? On this episode we speak with Liza Crawford, a long-time CRE veteran and trader of commercial mortgage-backed bonds, who's now co-head of securitized at asset manager TCW.

See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0	Thought Creators, the Podcast for Financial Experts, brought to you by FAB.
0:08.0	My guest today is Sarah Piersada Osmani, head of Sustainable Asset and Project Finance at
0:13.4	FAB.
0:14.4	FAB has committed to lend, arrange and facilitate up to US dollar 75 billion of
0:20.2	sustainable finance by 2030.
0:23.0	Plot Creators.
0:25.0	The Podcast for Financial Experts brought to you by FAB.
0:29.0	When you get your news from Bloomberg, you don't just get the story.
0:34.6	You get the story behind the story.
0:36.9	How your Evie's battery may not be as green as it seems.
0:40.5	Why a decrease in global birth rates could send countries scrambling to increase immigration.
0:46.2	You get context.
0:47.2	And context changes how you see things, how you change things, because context changes everything.
0:54.0	Go to Bloomberg.com to get context. Hello and I'm Tracy Allaway.
1:14.7	And I'm Joe Wisenthaw.
1:16.2	Joe, have you ever been to the Highland shopping mall in Austin?
1:21.4	Absolutely. Is it still there. That's a debt.
1:23.0	Is it still there?
1:24.0	That's like the one that's not done well, right?
1:27.0	I think it has officially died.
1:29.0	Okay, I know exactly.
1:30.0	Okay, I know exactly, okay, I just, I know there's a few and I know exactly which one that is.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Bloomberg, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Bloomberg and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.