Season 2, Episode 2: In this episode of No Cap by CRE Daily, we explore the rising trend of adaptive reuse in real estate—converting old offices into apartments as a potential solution to the housing shortage. Join hosts Alexander Gornik and Jack Stone as they chat with Anoop Dave and Tim Gordon, Co-Founders of Victrix Investment. They share insights on the challenges and opportunities in transforming office spaces into residential properties. TOPICS 0:00 - Introduction 2:15 - Civic Support In Adaptive Reuse 6:00 - Federal Government’s Role In Conversions 9:47 - Hudson Yards Casino Bid & Zoning 12:00 - Office-To-Home Challenges In NYC 14:00 - Insights On Adaptive Reuse 19:13 - Office To Residential Shift 24:34 - Success Stories 31:28 - Adaptive Reuse Obstacles 36:18 - Financial Hurdles & Due Diligence 41:00 - Future Of Adaptive Reuse We want to thank our sponsor Greysteel. For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/ Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily About No Cap Podcast 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. About CRE Daily CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

Season 2, Episode 1: No Cap by CRE Daily is back and we're kicking things off with a deep dive into the biggest headlines shaping commercial real estate in 2025.

Fannie & Freddie might finally go private—but what does that mean for mortgages, multifamily lending, and the housing market? Trump’s 2025 policies could bring major changes, and soaring insurance costs from LA wildfires are hitting property values hard.

Join our hosts Alexander Gornik and Jack Stone as they break it all down

TOPICS

0:00 – Introduction

02:15 – Will Fannie & Freddie Go Private?

06:09 – What Happens If Fannie & Freddie Go Private?

10:45 – How Privatization Could Impact Homeowners & Investors

16:20 – Trump’s 2025 Real Estate Policies

20:57 – Will the U.S. Sell Off Federal Real Estate?

28:46 – Hot Rental Markets in 2025

35:39 – Wildfires, Insurance Crisis & Falling Property Values

43:47 – The Biggest Real Estate Loans of 2024

50:10 – 2025 Market Predictions

We want to thank our sponsor Greysteel.

For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/

Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily

About No Cap Podcast

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.

About CRE Daily

CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

Season 1, Episode 13: This season finale of No Cap by CRE Daily features a rare conversation with Richard Byrne, President of Benefit Street Partners and CEO of Franklin BSP Capital Corp. Join hosts Jack Stone and Alex Gornik as they explore Richard’s incredible career—from his early jobs and rapid rise at Merrill Lynch in the 80s to his transition into real estate lending at Benefit Street Partners.

TOPICS

00:00 – Introduction

00:27 – Richard’s Early Life and First Jobs

03:10 – Climbing the Ladder at Merrill Lynch in the 80s

08:29 – From Casinos to Deutsche Bank

12:50 – Transition to Real Estate Lending

20:49 – Early Involvement with RFT

22:28 – Exploring FBRT and Other Service Lines

24:47 – The Role of Opportunistic Debt Funds (ODFs)

31:51 – Optimism in Today’s Real Estate Market

34:57 – Who’s Still Pursuing Multi-Property Deals

38:38 – Risk Management in Today’s Market

41:15 – Standing Out in the Industry

47:13 – A Banker’s Path to Jiu-Jitsu

58:32 – Advice for Young Professionals

01:01:27 – Conclusion

We want to thank our sponsor Viking Capital.

For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/

Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily

About No Cap Podcast

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.

About CRE Daily

CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

Season 1, Episode 12: In this episode of No Cap by CRE Daily, we sit down with Jilliene Helman, founder and CEO of RealtyMogul, to explore her entrepreneurial journey and the evolution of RealtyMogul in the real estate industry. Jilliene shares how her background inspired the launch of RealtyMogul, details the platform’s first deal, and explains the three businesses that form its foundation. We discuss what RealtyMogul looks for in sponsors, the early days of crowdfunding, and the impact of the 2012 Jobs Act on real estate investing.

TOPICS

00:00 — Intro 00:47 — Jilliene’s background and what led to creating RealtyMogul 02:19 — RealtyMogul’s first deal 04:10 — What RealtyMogul is, and the 3 businesses that make it up 05:43 — The value RealtyMogul brings to the table 07:10 — What RealtyMogul looks for in sponsors 09:05 — The first iteration of RealtyMogul, and how it got crowdfunded 12:50 — How crowdfunding worked in its earliest stages 14:35 — What the 2012 Jobs Act changed, and what stayed the same 19:03 — How RealtyMogul handled capital calls 20:46 — What a REIT is, and why RealtyMogul got into them 23:20 — The future of RealtyMogul 25:26 — Why balancing investors and deals is so challenging 29:35 — What sponsors should be looking for 31:18 — The secret to RealtyMogul’s longevity 32:34 — Jilliene’s family background 34:17 — What Burning Man is like, and why so many successful people attend 37:50 — How Jilliene stays creative 39:23 — Jilliene’s favorite travel destinations, and what she loves about Japan 40:43 — The potential of the new city being built outside San Francisco 43:40 — Why RealtyMogul is bullish on Columbus, Ohio 46:18 — The future of crowdfunding in real estate

We want to thank our sponsor Viking Capital.

For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/

Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily

About No Cap Podcast

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.

About CRE Daily

CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

Season 1, Episode 11: In this episode of No Cap by CRE Daily, hosts Jack Stone and Alex Gornik sit down with Aleksandr Gampel, Co-Founder of Cuby, to explore how Cuby is revolutionizing the construction industry. They dive into Cuby's mission to industrialize the construction process through transportable factories that minimize human error, reduce timelines, and bring cost transparency without sacrificing design.

Aleksandr shares his insights on the housing shortage, the waste in traditional construction, and Cuby’s innovative use of digital twins and lean manufacturing. Listeners will also hear how Cuby’s software and operating system streamline the entire building process and why Gampel believes the best construction companies are really supply chain companies.

TOPICS

00:00:00 - Introduction 00:00:42 - The Story Behind Alex and Alex’s First Meeting 00:03:35 - Cuby’s Vision: What is Cuby and Its Mission? 00:04:20 - Personal Connections: Do You Know Someone in Construction? 00:07:34 - The Big Question: Can Construction Be Industrialized? 00:09:04 - Alex’s First Principles Approach to Building Homes 00:12:43 - Addressing the Crisis: The Lack of Affordable Housing 00:14:17 - Waste in Construction: Why the Industry Produces So Much Waste 00:15:26 - Technology Insight: What Exactly is a Digital Twin? 00:16:51 - Building for the Future: The Machine That Builds the Machine 00:19:12 - How Cuby Can Streamline Your Construction Projects 00:27:33 - A Deep Dive into Cuby’s Software and Its Capabilities 00:30:02 - Understanding Cuby’s Operating System and Its Functionality 00:36:28 - Why Cuby? The Value Proposition for Working With Cuby 00:38:54 - “The Best Construction Companies Are Supply Chain Companies” 00:44:12 - Cuby Today: Current Status and Milestones 00:52:00 - Expanding Horizons: Cuby’s Market Expansion Strategy 00:56:09 - The Role of Venture-Backed Companies in the Defense Space 00:58:35 - Closing Moments

We want to thank our sponsor Viking Capital.

For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/

Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily

About No Cap Podcast

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.

About CRE Daily

CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

Season 1, Episode 10: On this episode of No Cap by CRE Daily, we sit down with Jonathon Barkl, CEO and co-founder of AirGarage, to dive deep into his journey from college student to revolutionizing the parking industry. Jonathon shares the origin story of AirGarage, starting as an "Airbnb for driveways" and evolving through a series of pivots into a full-stack, tech-first parking operator.

We explore AirGarage's progression from working with a local church parking lot in 2018 to partnering with real estate owners across urban areas, unlocking underutilized real estate in churches, hotels, and businesses. Jonathon explains how AirGarage is rethinking the parking experience from the ground up, challenging the status quo of a fragmented industry plagued by misaligned incentives and outdated technology.

TOPICS

00:00 - Intro 01:26 - Solving for Parking on Campus 05:10 - Learning How to Sell is the Most Important Skill 09:49 - Growing Up with Entrepreneurs 12:17 - Renting Out Parking Lots 16:56 - Downloading an App to Park? 19:53 - Making Parking Seamless 22:34 - First-Principles Approach to Parking 26:06 - Developing Full-Stack Technology for Parking 29:26 - Why Understanding Your Parking Occupancy is Important 34:34 - Challenges to Adoption for AirGarage 41:15 - Technology Approach to Parking Lot Property Management 44:55 - How Not to Get Lost in a Parking Lot 46:28 - AirGarage’s Process of Scaling 54:42 - The Future of Parking

We want to thank our sponsor Viking Capital.

For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/

Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily

About No Cap Podcast

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.

About CRE Daily

CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

Season 1, Episode 9: In this episode of No Cap by CRE Daily, Alex and Jack chat sit down with Michael Santora, CEO and co-founder of Logic. Michael discusses his robotics platform, which automates supply chains and optimizes warehousing. The group dives into the impact on warehouse and distribution centers, where the industry is heading, and other applications of Logic’s systems.

TOPICS

00:00 — Intro 00:52 — How Alex & Michael Met 02:15 — Michael’s Early Architectural Background 04:15 — How the 2008 Market Crash Impacted Michael 05:53 — Michael’s Journey into Industrial Design 06:41 — Solving for Spatial Efficiency in Warehouses 09:35 — Are the Robots Running the Warehouses? 11:06 — How Much is Wasted Using Forklifts? 13:06 — Logic’s Initial Company Focus 15:48 — Replacing Aisles in Warehouses 21:45 — Charging Docks for Logic’s Pallets 25:52 — Inefficiency of Delivery Trucks in Big Cities 28:40 — Michael on Going Back to School 30:09 — Consulting With Space Force 32:44 — Logic’s Commercial and Defense Operations 37:10 — Logic’s Pallets Loading C-130 Hercules 37:50 — Logic’s Pallet Composition 40:12 — Logic Pallet Delivering Pizza 43:45 — Conclusion

We want to thank our sponsor Viking Capital.

For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/

Guest Information: For more information on Meta Logic, click here.

To connect with Michael on LinkedIn, click here.

About No Cap Podcast

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.

About CRE Daily

CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.