Rick Jones, Founder and Principal of Jackstay Ventures LLC, joins the LightBox crew to unpack the latest capital markets chaos stirred up by post-tariff volatility and macro uncertainty. The conversation spans the latest pulse on recession risk and lender behavior to the evolving role of warehouse lending and the long-awaited wave of distressed debt. Rick’s take? The CRE market is doing just fine—but there are some tells that he says will warn us when real trouble is afoot. Never one to shy away from knotty topics, Rick makes the case for considering CMBS conduit reinvention, and why the best time to rethink assumptions is when no one thinks it’s necessary. Always entertaining, Rick takes the team conversation to high-rise mausoleums, magical thinking, and the dangers of overusing adjectives.
01:58 The Impact of Volatility on Commercial Real Estate
06:41 The Role of Non-Bank Lenders
10:36 The Distressed Debt Market
13:07 Warehouse Lending
15:16 The Slow Burn of Market Distress
21:03 Office Distress: The Race to Resolve
22:04 Is it Time to Rethink CMBS Conduits?
27:26 Magical Thinking in Market Analysis
Have questions for the pod team? Send them to Podcast@LightBoxRE.com
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