No Cap by CRE Daily
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.
Episodes
November 30, 2025 • 62 mins
Season 4, Episode 12: Jack Stone and Alex Gornik sit down with Jon Schultz, Co-Founder and Managing Principal of Onyx Equities, one of the Northeast’s most active private real estate firms. Schultz—known for turning around complex office, industrial, and retail assets—shares how Onyx repositions properties, adapts across cycles, and captures value in a rapidly evolving market.
From life sciences and medical office to AI-drive...
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November 23, 2025 • 46 mins
Season 4, Episode 11: Jack Stone and Alex Gornik sit down with Yaakov Zar, Founder & CEO of Lev, to unpack how a former tech entrepreneur is changing the way commercial real estate deals get done. Before launching Lev, Yaakov built and sold his first company, Dispatch, to Vista Equity Partners.
Today, he’s at the center of CRE’s tech transformation—blending capital markets expertise with AI and automation to simplify how ...
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November 16, 2025 • 55 mins
Season 4, Episode 10: Jack Stone and Alex Gornik sit down with Winston Fisher, Partner at Fisher Brothers, one of New York’s most iconic private real estate firms with over 100 years of ownership, development, and management across the city skyline.
Winston shares how he’s helping steer the fourth-generation firm into its next era. bridging tradition with technology and culture through projects like AREA15, the immersive enter...
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November 9, 2025 • 49 mins
Season 4, Episode 9:
Jack Stone and Alex Gornik sit down with Seth Weissman, Founder and Managing Partner of Urban Standard Capital, to unpack how a former Goldman Sachs and Perry Capital investor built one of New York’s leading private-credit and development platforms.
Weissman shares how his equity background shaped Urban Standard’s design-driven, relationship-first approach to lending—and why committed, discretionary capi...
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November 2, 2025 • 56 mins
Season 4, Episode 8: Jack Stone and Alex Gornik sit down with Alicia Glen, Founder of M Squared, former Deputy Mayor for Housing and Economic Development in NYC, and Co-Chair of the Gateway Development Commission, to unpack what it really takes to get housing and infrastructure built in America.
Glen brings a rare insider view on how public and private sectors collide, the realities of financing affordable housing, and the le...
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October 26, 2025 • 63 mins
Season 4, Episode 7: Jack Stone and Alex Gornik sit down with Sharon Wilson Géno, President of the National Multifamily Housing Council (NMHC), the leading voice for America’s apartment industry in Washington. She explains how NMHC is tackling today’s biggest issues—affordability, regulation, and capital—while separating signal from noise on rent control, tax policy, and the GSE debate.
Expect practical policy ideas cities ar...
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October 19, 2025 • 52 mins
Season 4, Episode 6: Jack Stone and Alex Gornik sit down with Cliff Booth, founder and chairman of Westmount Realty Capital, for a straight-talking look at four decades of success in industrial real estate.
Cliff shares how he built one of the most resilient portfolios in the game and what it really takes to stay ahead when the market turns volatile. He reveals the lessons learned from navigating market cycles, rising interes...
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October 16, 2025 • 39 mins
Today we’re featuring our friends at LoopNet’s In The Loop, a podcast spotlighting the people, ideas, and innovations shaping the future of work. Check them out wherever you listen to podcasts.
----more----
How can workplaces endure ecologically, financially, and socially?
In this episode of In the Loop, Jordan Goldstein, co-CEO of Gensler, explores the future of sustainable and resilient office design. From global design trends an...
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October 12, 2025 • 54 mins
Season 4, Episode 5: Jack Stone and Alex Gornik sit down with Ben Miller, CEO and Co-Founder of Fundrise, to reveal how technology is transforming commercial real estate investing and changing how retail investors access private markets.
Ben shares the story behind Fundrise’s rise to over $7 billion in real estate assets, why commercial real estate investing is all about macro trends now, and what drives the build-to-rent hous...
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October 5, 2025 • 52 mins
Season 4, Episode 4: Jack Stone and Alex Gornik sit down with Brian Pieracci, Head of North American Private Real Estate Equity at Heitman, to examine why alternatives are reshaping commercial real estate portfolios and outperforming traditional core assets.
Brian shares how Heitman pioneered allocations towards self-storage, medical offices, senior housing, and single-family rentals. He breaks down what drives demand in these...
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September 28, 2025 • 34 mins
Season 4, Episode 3: Jack Stone and Alex Gornik sit down with Kevin Heras, CEO of InvestNext, to explore how a Detroit-built platform is reshaping how real estate firms raise and manage capital.
Kevin shares his path from Spain to Michigan Tech to the early Handshake days, then explains the first InvestNext prototype and why standardizing subscriptions, funding, and reporting matters for both GPs and LPs. He breaks down sponso...
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September 21, 2025 • 42 mins
Season 4, Episode 2: Jack Stone and Alex Gornik sit down with Rick Schaupp, Managing Director at Clarion Partners, for an inside look at one of the country’s largest private real estate investment managers.
Rick traces his path from architecture and urban design to managing Clarion’s $70B platform, shares what it was like to start his career during the tech bust and 9/11, and explains why Clarion is expanding into semi-liquid ...
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September 14, 2025 • 53 mins
Season 4, Episode 1:
We’re back with a brand-new season of No Cap — and we’re starting big. Jack Stone and Alex Gornik sit down with Owen Thomas, CEO of BXP and the largest office landlord in the United States, to launch Season 4 in style.
From a Virginia dairy farm to Morgan Stanley, Lehman Brothers, and now leading the country’s largest office landlord, Owen shares the pivotal moments that shaped his career. He discusses su...
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August 25, 2025 • 60 mins
Season 3, Episode 12: In this episode of No Cap, Jack Stone and Alex Gornik sit down with Ben Brown, Co-President of Brookfield’s Real Estate Group and Head of the Americas, to talk about the pivotal moments that shaped his career and the strategies behind some of Brookfield’s biggest deals.
From breaking into Brookfield during the financial crisis to leading $10B+ acquisitions like GGP and Forest City, Ben shares the lessons ...
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August 17, 2025 • 47 mins
Season 3, Episode 11: In this episode of No Cap, Jack Stone and Alex Gornik sit down with MaryAnne Gilmartin, Founder and CEO of MAG Partners, to talk about the pivotal moments, high-stakes decisions, and unconventional moves that have defined her career and shaped New York City’s skyline.
From her Brooklyn roots to steering some of Manhattan’s most high-profile projects, MaryAnne shares what it takes to lead in real estate’s ...
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August 10, 2025 • 38 mins
Season 3, Episode 10: In this episode of No Cap, Jack Stone and Alex Gornik talk with Jon Siegel—Partner and CIO at RailField—about building through one of the toughest market cycles, what went wrong after early success, and why staying active matters more than ever.
They also get into the private credit boom, the myth of distress deals, and where real opportunities still exist.
TOPICS
00:09 – Opening and Jon’s Background
04...
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August 3, 2025 • 52 mins
Season 3, Episode 9: Craig Deitelzweig is redefining office real estate—one scent, doorman, and house car at a time.
In this episode, the CEO of Marx Realty shares how he's leading the hotelization of office buildings—and why most landlords are stuck in the past. From signature scents and concierge-level service to rooftop lounges and Porsche house cars, Craig explains how his team is turning tired Class B assets into high-dem...
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July 27, 2025 • 73 mins
Season 3, Episode 8: Jonathan Kaufman Iger is turning Sage Realty into the first true commercial real estate brand.
In this episode, the CEO of Sage shares how a 100-year-old family business is evolving to meet the demands of modern office users. From tenant experience to hospitality-driven operations, Jonathan explains why most landlords are getting it wrong—and what it takes to build trust, loyalty, and a competitive edge in...
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Season 3, Episode 7: Janet LePage, CEO of Western Wealth Capital, joins the show to share how she scaled from flipping homes in Phoenix to managing over 30,000 units across the Sunbelt, with $4B in real estate transactions under her belt.
In this episode, Janet opens up about the pressure of navigating one of the fastest interest rate hikes in modern history and how her firm managed to stay aggressive in the Sunbelt while othe...
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July 13, 2025 • 57 mins
Season 3, Episode 6: Andy Weiner, CEO of RockStep Capital, joins the show to explain why the retail apocalypse was overhyped and how his firm is turning overlooked malls into long-term cash-flow plays.
With 50+ shopping centers under management, Andy walks through the real risks, the CMBS fallout, and why Class B markets still offer upside, if you know how to operate.
We discuss:
– Why “retail is dead” doesn’t hold up in the ...
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