Newsletters
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Oct 22, 2025
Sovereign wealth capital reopens the door for trophy-grade refinancing.
Signals
+2
Large-check capital goes granular as portfolios freeze and sector rotation reshapes U.S. CRE allocation.
Distress
Multi-bank exposure to a $270 million loan scheme exposes structural fragility in regional lenders’ CRE portfolios.
Large-Cap Buyers Reprice and Re-Enter NYC Office
Capital
$140 B in foreign bets on Chinese real estate are unraveling, forcing fire sales and prompting a global capital retreat toward safer markets.
GIC and ADIA’s $1.1 billion refinance of Deutsche Bank Center restores confidence in trophy-grade CMBS execution.
Oct 21, 2025
Retail fundamentals remain steady even as values reset 15–25%. National retail vacancy held at 5.8% in Q3 2025;
Housing
Disciplined fundamentals sustain absorption as rent growth cools and capital flows persist.
+3
Demand normalizes; capital insists on discipline.
+4
Foreign inflows are recalibrating toward yield, governance, and gateway safety as capital costs reshape cross-border strategy.
Southwest (SW)
Strong population inflows sustain capital and construction momentum, but hospitality and underwriting caution temper the region’s exuberance.
Florida
Tight vacancies, record tourism, and global capital define Florida’s CRE cycle
Oct 20, 2025
Retail
+1
Repricing has brought discipline to a sector now trading on yield rather than fear.
Hospitality
Leverage meets liquidity as hotel owners confront a $5.8B debt wall while operations recover.
Office
A record 11.13 % CMBS delinquency rate signals a historic office shake-out and a prolonged refinancing crunch.
Oct 17, 2025
Luxury hotels surge while economy stays grounded, defining a two-speed market for hospitality investors.
Affluent travelers drive top-tier gains as economy hotels stall.
September’s 8.12% office delinquency rate marks a decisive turn in CRE credit stress.
Store closures accelerate — yet the remaining footprint proves stronger
National
Slower borrowing costs thaw CRE capital markets
Oct 16, 2025
BlackRock, Nvidia, and Microsoft’s record acquisition cements data centers as a core institutional asset class — merging tech and real estate capital.
Apartment pricing turns positive after 29 months of declines as policy tailwinds and Fed cuts restore confidence.
Energy
Energy-ready land emerges as a new real estate asset class amid AI-driven power demand
New York
Leasing surge confirms recovery and renews confidence in NYC’s core asset class
