413. Inside Nomura's Return to CRE Finance with CMBS Industry Icon Larry Kravetz

<p>In this special guest episode of The TreppWire Podcast, we are joined by Larry Kravetz, Head of U.S. Commercial Real Estate (CRE) and Commercial Mortgage-Backed Securities (CMBS) at Nomura, to discuss the firm’s return to CRE finance and the expansion of a full-service CRE platform.</p><p><br>With more than 30 years of experience in the industry, including helping launch Lehman Brothers&#39; large-loan CMBS business in the 1990s and later leading U.S. CRE Finance at Barclays, Larry reflects on his career, the evolution of the CMBS market, and how lessons from past market cycles are shaping today&#39;s CRE landscape.</p><p><br>We explore the resilience of today&#39;s CRE market, the continued momentum behind SASB issuance, CMBS&#39;s role in providing liquidity during periods of market disruption, and the opportunities and challenges surrounding data center financing. Larry also shares his outlook for the market ahead, Nomura&#39;s rapid growth in CRE finance, and the career advice that has guided him throughout his decades in the industry. Tune in now.</p><p><br><strong>Episode Notes</strong></p><ul><li>(0:00) Larry&#39;s Background</li><li>(11:47) Nomura&#39;s Return</li><li>(15:21) State of of the Market</li><li>(20:13) Data Centers &amp; More</li><li>(24:10) What&#39;s Next in CRE</li><li>(26:26) Career Advice</li><li>(28:21) Closing</li></ul><p><br></p><p>Questions or comments? Contact us at <a href="mailto:podcast@trepp.com" target="_blank" rel="ugc noopener noreferrer">podcast@trepp.com</a>.    </p><p>Follow Trepp:  </p><p>X: <a href="https://www.x.com/TreppWire" target="_blank" rel="ugc noopener noreferrer">www.x.com/TreppWire</a> </p><p>LinkedIn: <a href="https://www.linkedin.com/company/trepp" target="_blank" rel="ugc noopener noreferrer">www.linkedin.com/company/trepp</a>  </p>