What the Q1 2026 ODCE and REIT data say about CRE right now

About this episode

The episode discusses the Q1 2026 ODCE index results and REIT earnings themes in the context of the current commercial real estate market.

US commercial real estate started 2026 on steady footing, but the story varies considerably depending on what part of the market you look at. In this episode of CRE Exchange, our hosts are joined by Alex Jaffe and Mike Amthor from Altus Group's Valuation Advisory practice to discuss Q1 2026 ODCE index results alongside REIT earnings themes. The team also takes a look at the residential market inversion between Sun Belt and gateway cities, the SoCal industrial softness that isn't clearing yet, and what fund managers are saying about 2026 and 2027 as a potential entry point for long-term capital deployment. Key moments 01:27 Meet the guests 02:25 ODCE data primer 03:17 Q1 returns and CapEx 06:38 REIT crosscheck 08:43 Sector pecking order 11:08 Multifamily market split 13:55 Industrial soft spots 16:12 SoCal strategy and REIT themes 19:14 Office leasing reality 22:21 Retail strength and risks 28:31 Self storage spotlight 31:50 Client questions and outlook 35:00 Rates leverage and wrap up Resources mentioned Altus’ Q1 valuation and performance trends analysis of the NCREIF ODCE Index: https://www.altusgroup.com/webinars/ncreif-odce-index-quarterly-analysis/#featured   Alex…

People in this episode

Guests: Alex Jaffe, Mike Amthor

Topics covered

• commercial real estate
• ODCE index
• REIT earnings
• market analysis
• investment strategy
• residential market trends

Keywords

• commercial real estate
• ODCE
• REIT
• investment
• market trends
• CapEx
• residential market
• industrial softness
• office leasing
• retail risks

Mentioned in this episode

Organizations: Altus Group, NCREIF

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