CRE Daily 2023 Year End Letter

A recap of 2023 and what's next for CRE Daily.

Jordan B.
December 31, 2023

Good morning. Instead of our usual newsletter, we're taking a moment for reflection, expressing our gratitude, and discussing what's on the horizon for CRE Daily.

Since January, we have put together 262 editions of CRE Daily, written 263,000 words, generating close to 12.5 million opens.

Our community has grown from 44.2K to 62.4K subscribers, purely through referrals, thanks to our loyal subscribers.

4,820 of you have left 5 ⭐️ reviews, with an average review of 4.6 ⭐️’s.

And engagement has never been stronger.

In 2023, we've been overwhelmed with thousands of emails from you, our readers.

So many of you have told us how CRE Daily has been a time-saver, kept you informed with the latest news, and helped you become more knowledgeable professionals in your daily work.

We also appreciate the constructive feedback you’ve shared when things go off the rails. This is one of the best things about our community.

As we look towards 2024, it's shaping up to be a monumental year for CRE Daily. But what’s next?

You've been asking for more than just a newsletter, and we've heard you loud and clear. A HUGE announcement is coming in January, something we've been passionately working on for months (six to be exact).

Our new website will connect CRE Daily subscribers and the commercial real estate community like never before. It'll feature original content, event directories, product reviews, educational resources, and so much more.

But before we launch…we want to get this right for you.

To help us, please take this short survey. There are 12 questions, and I promise it will only take 3 minutes. Our team wants to better understand who you are, your challenges, and how we can improve CRE Daily.

We read every response, and as a token of our appreciation, each completion will receive our new Back of the Envelope Multifamily Deal Screener (B.O.T.E), an upgrade from the Back of the Napkin version.

As we close out this year's final newsletter, I want to start with a heartfelt THANK YOU to each of you for reading every morning. Your support and engagement are the reasons we're here today.

Our team has expanded from just one (me) to a talented crew of five. We're incredibly blessed to have such amazing talent join us for the next chapter of our journey.

And while 2023 has been one of the toughest years for commercial real estate since the financial crisis. We've weathered the storm together and are now setting our sights on an exciting and promising 2024.

Hopefully, with some rate cuts in the not-so-distant future…

Our team is committed to making CRE Daily the largest and most relevant community for CRE professionals. We're putting it all on the line in 2024.

🙏 Now, here's where we need your help:

Please keep sending us your feedback, good or bad. Your insights are invaluable for our growth and evolution.
Continue supporting our sponsors. Their advertisements not only keep our lights on but also allow us to offer our products for free.
If you know someone who could be an ideal advertiser, flip us an intro here. We will reward you.
And most importantly, please keep spreading the word to your colleagues and friends. We're revamping our referral program in the New Year, offering even more perks and merch!

Our mission remains to empower professionals like you with the knowledge needed to make smarter decisions and grow your business.

Let's keep building this together!

Best wishes to each of you for a happy, healthy, and prosperous 2024!!

Jordan
Co-founder / Editor @ CRE Daily

P.S. Keep scrolling to check out our top 10 most popular newsletters of 2023. See you tomorrow!

👋 First time reading? Sign up.

🎁 Want free merch? Share this.

The Top 10 Most Popular Newsletters of 2023 That Captivated Our Readers

#10

Roark, the PE Firm Behind Arby's, Poised to Add Subway to Its Portfolio with $9.6 Billion Deal

Roark Capital is inching closer to a $9.6 billion deal with Subway following a competitive bidding war that began earlier this year.

#9

Yardi Faces Federal Lawsuit Amidst Antitrust Accusations

Federal class-action suit targets Yardi Systems and 18 firms, alleging rent-fixing via RENTmaximizer tool to automate rent-hike cartel.

#8

Wall Street Flocks to Distressed Real Estate Amid Plummeting Values

To capitalize on plummeting property values and the challenged CRE market, Wall Street heavyweights such as Cohen & Steers, Goldman Sachs, EQT Exeter, and BGO are raising billions for funds targeting distressed assets and slumping property values.

#7

U.S. Apartment Rents See First Yearly Drop Since Early 2021

For the first time since the onset of the pandemic, both annual and monthly rent growth rates have turned negative.

#6

Rising Star: Fort Worth's Real Estate Boom

Fort Worth, TX, is emerging as a new CRE boomtown, with a total of $2.3B of projects under construction or in the pipeline, consisting of around 5K new apartments, office space, and mixed-use developments.

#5

The Bigger Commercial Real Estate Picture

While the office market's high defaults and sinking occupancy rates steal the spotlight, the multifamily sector is showing signs of possible issues for the latter part of the year.

newsletter.credaily.com/p/bigger-commercial-real-estate-picture

#4

South Florida Luxury Apartment Boom Eases Rental Rates

Developers in South Florida are in a rush to construct luxury apartments, risking an oversupply in the high-end market segment despite the continuing influx of wealthy newcomers.

#3

CMBS Takes a Tumble Amid Fed Rate Hikes

The commercial property market puts CMBS on thin ice as rising interest rates cut into lending volume and defaults spook investors.

#2

Towers Half-Empty, Small Banks Not on the Hook

Contrary to popular belief, local and regional banks do not hold 70% of US CRE debt, as previously reported. They hold a much lower percentage, around 32%.