No Cap by CRE Daily

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.

Episodes

What Happens When Office and Hospitality Combine?

August 3, 2025 • 52 mins
Season 3, Episode 9: Craig Deitelzweig is redefining office real estate—one scent, doorman, and house car at a time. In this episode, the CEO of Marx Realty shares how he's leading the hotelization of office buildings—and why most landlords are stuck in the past. From signature scents and concierge-level service to rooftop lounges and Porsche house cars, Craig explains how his team is turning tired Class B assets into high-dem...
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Why Most Landlords Get Office Tenant Experience Completely Wrong w/ Jonathan Kaufman Iger

July 27, 2025 • 73 mins
Season 3, Episode 8: Jonathan Kaufman Iger is turning Sage Realty into the first true commercial real estate brand. In this episode, the CEO of Sage shares how a 100-year-old family business is evolving to meet the demands of modern office users. From tenant experience to hospitality-driven operations, Jonathan explains why most landlords are getting it wrong—and what it takes to build trust, loyalty, and a competitive edge in...
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From 0 to 29K Units: Janet LePage on Building One of North America's Largest Private Apartment Firms

July 20, 2025 • 57 mins
Season 3, Episode 7: Janet LePage, CEO of Western Wealth Capital, joins the show to share how she scaled from flipping homes in Phoenix to managing over 30,000 units across the Sunbelt, with $4B in real estate transactions under her belt. In this episode, Janet opens up about the pressure of navigating one of the fastest interest rate hikes in modern history and how her firm managed to stay aggressive in the Sunbelt while othe...
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Why Dying Malls Might Be the Best CRE Opportunity Today

July 13, 2025 • 57 mins
Season 3, Episode 6: Andy Weiner, CEO of RockStep Capital, joins the show to explain why the retail apocalypse was overhyped and how his firm is turning overlooked malls into long-term cash-flow plays. With 50+ shopping centers under management, Andy walks through the real risks, the CMBS fallout, and why Class B markets still offer upside, if you know how to operate. We discuss: – Why “retail is dead” doesn’t hold up in the ...
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Self-Storage vs. Other CRE Assets – What's the Better Bet?

July 6, 2025 • 57 mins
Season 3, Episode 5: Brian Cohen, CEO of Andover Properties, joins the show for a candid deep dive into how he scaled a self-storage empire and why the best buying opportunities today are in the asset classes no one wanted a decade ago. From distressed storage deals and long lease-ups to launching a credit platform with Angelo Gordon, Brian breaks down what makes Andover different and why data, automation, and institutional di...
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Why Principal's $100B Real Estate Strategist Is Bullish on Office While Others Panic

June 29, 2025 • 52 mins
Season 3, Episode 4: Rich Hill, Global Head of Real Estate Strategy at Principal Asset Management, joins the show for a candid deep dive into the state of CRE in 2025, from CMBS and construction lending to the hype around AI data centers. With over $100B in real estate under management, Rich explains why office isn’t dead, where multifamily pricing is off, and how investors are recalibrating their return expectations. We disc...
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The Deal Architect: Inside Trammell Crow’s $22B Capital Strategy with Tommy Lee

June 22, 2025 • 55 mins
Season 3, Episode 3: Tommy Lee, Global Head of Capital Markets at Trammell Crow Company, joins No Cap podcast for a deep dive into the return of institutional capital—and what it signals for commercial real estate in 2025. Under Lee’s leadership, Trammell Crow has raised and deployed over $22 billion since 2018, fueling large-scale development across major U.S. markets. In this episode, he breaks down how global capital is ree...
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How Crowd Street Turned $63M Fraud Crisis Into Private Equity Growth Opportunity

June 15, 2025 • 46 mins
Season 3, Episode 2: In this episode of No Cap Podcast, co-hosts Jack Stone and Alex Gornik sit down with John Imbriglia, CEO of Crowd Street, and Anna-Marie Allander Lieb, Investment Director, to discuss the company’s remarkable recovery from the $63M fraud scandal that rocked its platform. John and Anna-Marie dive deep into how they turned a crisis into one of the biggest expansions in private equity. The duo reveals their s...
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JP Morgan's Tom Kennedy On Where to Invest in Commercial Real Estate

June 8, 2025 • 47 mins
Season 3, Episode 1: In this episode, co-hosts Jack Stone and Alex Gornik are joined by Tom Kennedy, Head of Research and Investment Strategy for Real Estate Americas at J.P. Morgan Asset Management. A "recovering central banker," Tom drops some of the boldest predictions we've heard, including a direct callout to the Federal Reserve. Tom reveals why your portfolio strategy might be in trouble, shares insider data impacting ha...
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The Internet’s Favorite Strip Mall Guy Talks CRE, Capital & Deals

April 27, 2025 • 44 mins
Season 2, Episode 13: In this episode of No Cap Podcast by CRE Daily, hosts Jack Stone and Alex Gornik sit down with Don Tepman, the man behind The Strip Mall Guy. Don shares the story of how a single Twitter post launched a thriving commercial real estate brand and led to millions in deals. He reveals how going public transformed everything, why he doesn’t believe in real estate courses, and how he’s built a business around va...
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Meta’s in the Bayou, Morgan’s Buying the Midwest, and Investors Are Watching Closely

April 20, 2025 • 42 mins
Season 2, Episode 12: In this episode of The No Cap Podcast, hosts Jack Stone and Alex Gornik break down the madness of the week’s biggest headlines, including Trump’s unexpected tariff drop, the resurgence of REITs, and Meta’s new data center. They also dive into why Shein and Temu may be facing serious troubles and what all of this means for the economy and real estate. From inflation to energy crises, the latest on the stoc...

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Will Tariffs Kill Your Favorite Brands? We Asked the Insider Who Knows

April 13, 2025 • 50 mins
Season 2, Episode 11: In this episode of No Cap by CRE Daily, hosts Jack Stone and Alex Gornik are joined by CNBC’s Senior Retail Reporter, Courtney Reagan, to discuss the fast-evolving retail market. From Q4 earnings to tariff shocks and the future of physical retail, Courtney breaks down the latest trends and challenges facing major brands like Walmart, Gap, and luxury retailers on Fifth Avenue. They dive deep into how the r...
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How Spencer Burton Accidentally Built the #1 Real Estate Resource

April 6, 2025 • 59 mins
Season 2, Episode 10: In this episode of the No Cap Podcast, hosts Jack Stone and Alex Gornik sit down with Spencer Burton, co-founder of Adventures in CRE and CRE Agents, to explore how technology and innovation are transforming the real estate industry. With years of experience in real estate, Spencer shares how he revolutionized the field by creating essential financial modeling tools used by thousands and pioneering AI-pow...
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KBS CEO Reveals SECRET to Office Success

March 30, 2025 • 72 mins
Season 2, Episode 9: In this episode of the No Cap Podcast, hosts Jack Stone and Alex Gornik sit down with Marc DeLuca, CEO of KBS, to explore how the firm has navigated the ever-changing landscape of office real estate. With over 30 years of experience in the industry, Marc has managed billions of dollars in real estate across the Eastern U.S. and Mid-Atlantic regions, overseeing some of the most strategic acquisitions in th...
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How AI is Making CRE Brokers More Efficient Than Ever w/ Albert Lojko

March 23, 2025 • 48 mins
Season 2, Episode 8: In this episode of the No Cap Podcast, hosts Jack Stone and Alex Gornik sit down with Albert Lojko, President of Lightbox, a company revolutionizing commercial real estate (CRE) by organizing and digitizing fragmented data. Albert discusses how Lightbox is streamlining transactions, enhancing collaboration, and automating key processes, including appraisals and document generation, using AI to improve effic...
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Building the Largest Privately Owned Self-Storage Company w/ Cris Burnam

March 16, 2025 • 62 mins
Season 2, Episode 7: On this episode of the No Cap Podcast, hosts Jack Stone and Alex Gornik are joined by Cris Burnham, CEO of StorageMart, the world’s largest privately owned self-storage company. Cris shares the journey from his father's humble real estate beginnings to growing StorageMart into a multibillion-dollar empire, including the $3.2B acquisition of Manhattan Mini Storage. Cris dives into the industry's evolution, ...
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Barron Trump’s First Real Estate Deal? Plus, Tax Hacks & Multifamily w/ Omar Khan

March 9, 2025 • 36 mins
Season 2, Episode 6: In this episode of No Cap Podcast, hosts Jack Stone and Alex Gornik are joined by Omar Khan, founder of Boardwalk Wealth. Omar brings over $3.7B in capital financing and M&A experience, along with a track record of raising over $50 million in equity. He shares his journey from investment banking to commercial real estate, giving us valuable insights into his successful deals and why strategic partnershi...
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What's Behind Crow Holdings MASSIVE $33 Billion Real Estate Empire

March 7, 2025 • 64 mins

Season 2, Episode 5: In this episode of No Cap by CRE Daily, hosts Jack Stone and Alex Gornik sit down with Michael Levy, CEO of Crow Holdings, one of the most influential real estate companies in the world. Michael shares his personal journey and the history of Crow Holdings, diving deep into their innovative approach to real estate, sustainability, and expansion into energy and mass timber development. They discuss Crow’s legacy...

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What It Takes To Be A Successful Broker In NYC w/ Bob Knakal

February 23, 2025 • 52 mins
Season 2, Episode 4: In this episode of No Cap by CRE Daily, hosts Alex Gornik and Jack Stone sit down with Bob Knakal, Chairman and CEO of BK Real Estate Advisors. Bob, one of New York City’s top brokers, shares his journey and insights on how he became a leader in the real estate market. They dive into the importance of market knowledge, why prospecting is key to success, and how Bob used social media to expand his reach. Pl...
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C-PACE Financing: The Best-Kept Secret in Real Estate?

February 16, 2025 • 36 mins
Season 2, Episode 3: C-PACE Financing: The Best-Kept Secret in Real Estate? In this episode of No Cap by CRE Daily, hosts Alex Gornik and Jack Stone are joined by Robbie Pinkas, Senior Vice President of PACE Loan Group. They dive into the world of C-PACE financing, explaining how it works and how it can fund energy-efficient improvements, making your property more sustainable and valuable. They also discuss how C-PACE fits in...
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