The industry's own research.
1,851 reports
showing 1,561–1,620 of 1,851
Avison Young's annual Canadian CRE outlook, with 97% of surveyed experts expecting activity to increase or hold steady and the strongest sales quarter since 2022 in Q3 2025.
The Americas chapter of LaSalle's ISA Outlook 2026, with stabilizing valuations, improving debt market liquidity and a sharp pullback in new development signaling early signs of a new cycle.
The Europe chapter of LaSalle's ISA Outlook 2026, arguing European real estate is breaking out of the cycle with strong occupier demand in luxury high streets and prime city-center offices.
Avison Young's annual US CRE outlook, drawing on a survey of 270+ market experts showing confidence rising to nearly 70% heading into 2026, with sector-by-sector guidance.
The Asia Pacific chapter of LaSalle's ISA Outlook 2026, as long-standing assumptions about trade, demographics and inflation give way to more intricate market dynamics.
Avison Young experts examine global real estate investment trends and cross-border capital flows, covering the London office resurgence, US debt liquidity and the 2026 investor outlook.
A Barings and Artemis roundtable across the U.S., Europe, and Asia Pacific arguing 2026 is a stock picker's market requiring active selection and granular analysis as performance disperses by quality and location.
Quarterly analysis of European office investment, with prime yields stabilising and appetite for larger lot sizes returning as €200m+ deals rose to 24% of volumes.
PGIM Real Estate's 2026 view on Asia Pacific markets, highlighting the flight to quality and ongoing rental outperformance of CBD over non-CBD offices.
PGIM's house view for US commercial real estate in 2026 argues that uncertainty is prolonging the early phase of the recovery cycle, while tepid capital availability creates a favorable vintage for selective acquisitions, development and credit.
PGIM Real Estate's 2026 outlook for private commercial real estate credit, noting rising multifamily origination share and demand for transitional bridge-to-agency financing amid upcoming loan maturities.
Analysis of how a federal shutdown affects GSE (Fannie/Freddie) and HUD-insured multifamily lending, concluding GSE markets remain fully operational while HUD processing may slow. Includes the $73B-per-GSE 2025 cap context.
Nuveen makes the case for a global approach to real estate, focusing on high-quality assets in leading cities and emerging sectors tied to megatrends like aging populations and technological innovation.
Analysis of the recovering UK retail investment market, with steady institutional demand and improving sentiment as buyers respond to rental growth and relative stability.
Examines how multifamily owners can use expanded financing options when facing maturing construction debt or lease-up properties, advocating parallel execution paths including agency takeouts, bridge financing, and sales. Draws on RealPage and Zelman data.
Second quarter 2025 U.S. multifamily capital markets report, noting record-setting demand, resilient absorption and vacancy compression despite robust new supply.
Pan-European office market review showing prime yields compressing to 4.96% in Q2 2025, led by Madrid, Barcelona, Paris CBD and Amsterdam.
Monthly snapshot of UK commercial property investment activity, yields and sentiment across the office, industrial and retail sectors.
Newmark's U.S. capital markets report covering investment sales, debt maturities and pricing trends, including an estimated $582 billion of potentially troubled debt maturing in 2025-2026.
Survey of 200+ clients on 2025 multifamily expectations: 65% plan moderate portfolio expansion, Fannie Mae and Freddie Mac expected as most active lenders, and stable cap rates with exit rates 25-50 bps higher than entry.
Sector-by-sector breakdown of the outlook for UK commercial real estate investment in 2025, assessing how economic recovery and interest-rate moves shape each asset class.
Field report from the MBA Commercial/Multifamily Finance Convention covering capital availability, lending competition, and credit-spread compression across CRE sectors. Notes spreads as tight as 2021 and shifting lender risk tolerance.
Newmark's outlook on the U.S. data center sector, highlighting an AI-driven structural boom with record annualized spending on new construction and intense competition for power and industrial-zoned development sites.
Building on the 2025 Global Investor Outlook and EMEA survey, this report identifies key capital-markets trends and shifting investor strategies for EMEA real estate in 2025.
LaSalle's ISA Outlook 2025 North America chapter, forecasting that US and Canadian real estate is on the verge of a new cycle as interest rates fall from peak and transaction volume grows slowly.
CBRE projects a gradual recovery in U.S. commercial real estate investment in 2025, with cap rates moderately compressing and industrial and multifamily assets remaining investor favorites.
European real estate investment is set to keep recovering in 2025 as bid-ask spreads narrow, financing conditions improve, and international capital returns to the market.
Heitman and ULI's fifth climate-risk report examines the impact of rising property insurance costs on commercial real estate, with strategies for securing affordable coverage and emerging trends reshaping the market.
Examination of seniors housing financing options across traditional lenders, debt funds, and GSEs (Freddie Mac, Fannie Mae, HUD), noting a 23% rise in acquisition activity and tighter refinancing terms.
Invesco's Listed Real Assets team's recurring commentary on the listed real estate market and outlook, covering market and sector performance, sub-sector reviews and regional forecasts.
MBA's quarterly research series tracking the level of commercial and multifamily mortgage debt outstanding by capital source, with a downloadable latest report.
From the MBA: MMortgage Applications Decreased Over a Two-Week Period in Latest MBA Weekly Survey Mortgage applications decreased 9.7 percent from two weeks earlier, according to data from the Mortgage Bankers Association’s (MBA)…
Trepp analyzed 1,419 re-securitization pairs of 1970s-vintage multifamily properties across 1,299 unique properties from 2021 through May 2026, finding a median value increase of 63.08% ($9.0 million) with median NOI growth of 39.38% and 81 basis points of cap rate compression, though value gains have slowed significantly after 2022 with median increases declining from 76% in 2022 to 38% in 2026 and cap rate compression largely disappearing. The strongest valuations occurred in Sun Belt markets like Houston and Phoenix (101-103% increases) and when properties transitioned from conduit loans to CRE CLOs (313% median increase), but properties already in CLO structures showed minimal re-pricing gains, suggesting future value growth will depend more on operational improvements than market-wide multiple expansion.
.jpg)
On March 19, 2026, the Federal Reserve, FDIC, and OCC jointly proposed Basel III capital rules that expand access to credit risk transfer (CRT) structures for U.S. banks, eliminating the prior requirement for case-by-case Federal Reserve approval and allowing standardized regulatory treatment instead. The document examines how synthetic risk transfer and credit-linked notes work for commercial real estate portfolios, illustrating with a stylized example how a regional bank holding a $500 million multifamily portfolio could reduce risk-weighted assets from $500 million to $78.1 million (16% of original) through a CRT, and identifies strongest CRT candidates as stabilized income-producing properties and smaller-balance owner-occupied commercial properties with strong fundamentals that diverge from their regulatory risk weights.
.png)
The document discusses three key developments affecting commercial real estate finance for the week of June 15, 2026: the FOMC meeting on June 16–17 under new chair Kevin Warsh, movements in the Treasury yield curve reflecting short- and long-term rate expectations, and tightening of balance sheet lending spreads amid competitive loan markets. The analysis focuses on how Fed communication and rate signals will influence borrower and lender assumptions, the relative pressure on floating-rate versus fixed-rate refinancing structures, and whether recent spread tightening in loan markets will persist or diverge from wider spreads in lower-rated CMBS bonds.
.jpg)
Detroit's office CMBS market totals approximately $2.0 billion across fewer than 200 properties, with office loans representing $741.83 million of upcoming maturities. Despite Detroit office assets showing weaker utilization metrics than national CMBS averages—including weighted-average occupancy in the high-70% range and over a quarter of securitized balances reporting vacancy above 25%—the market exhibits materially lower credit stress than national benchmarks, with fewer loans above 100% LTV, lower delinquency rates, and below-average watchlist exposure, a disconnect attributed to Detroit's small, less-impaired securitized base rather than superior operating fundamentals.
The Trepp Property Price Index (TPPI) for Q1 2026 shows commercial real estate pricing stabilizing broadly across the market, with the equal-weighted composite index rising 0.09% in the quarter to sit 4.45% above its June 2022 level, while the value-weighted index increased 0.07% but remained 7.53% below the 2022 peak. Sector-specific results revealed uneven recovery: industrial and office prices showed modest gains, retail remained relatively stable, multifamily weakened with a 0.77% quarterly decline, and lodging remained the worst performer at 12.50% below June 2022 levels, though the analysis notes that smaller and mid-sized assets are finding firmer footing while larger institutional properties continue to face financing constraints and incomplete price discovery.
The Trepp CMBS Special Servicing Rate decreased by 51 basis points in May 2026 to 10.86%, driven primarily by an office loan returning to the master servicer and denominator effects, with special servicing rates declining across most property types including office (down 91 basis points to 16.75%), lodging (down 121 basis points to 8.45%), and multifamily (down 57 basis points to 8.51%). New transfers to special servicing totaled approximately $2.9 billion across 59 loans in May.
.jpg)
The document examines how the Federal Reserve, OCC, and FDIC's new model risk management guidance SR 26-02 (issued April 17, 2026) replaces the 15-year-old SR 11-7 framework, with key changes including a narrower model definition that excludes spreadsheet arithmetic and deterministic rule-based systems, explicit carve-outs for generative and agentic AI, and applicability primarily to institutions above $30 billion in assets. The guidance creates a governance gap for AI-driven commercial real estate workflows by placing statistical models within the MRM perimeter while excluding generative layers, extraction pipelines, and orchestration logic, meaning banks have regulatory latitude in deploying agentic AI for CRE underwriting but remain responsible for downstream risks that feed into pricing and credit estimates.
The document is a letter from the editor of Trepp and Commercial Real Estate Direct's 2026 mid-year magazine covering commercial real estate finance and CMBS markets, reporting that CMBS issuance reached nearly $52 billion through mid-May 2026 (up 16% year-over-year), CRE CLO issuance totaled $21.61 billion (up 60% year-over-year), and lenders have increased lending against multifamily properties and office buildings despite acknowledged risks including inflation and geopolitical concerns. The editor notes that while CMBS delinquencies have increased month-to-month, overall special servicing volumes remain stable and market conditions are stabilizing, though investors and lenders continue to move cautiously.
TPG leaders discuss how asset-based finance is expanding across housing, commercial real estate, and digital infrastructure as bank retrenchment and structural demand reshape private credit.
With hyperscaler spending on AI and data centers projected to top $5 trillion by 2030, Goldman Sachs Research expects private infrastructure and real estate funds to supply a growing share of that capital.
John Burns Research and Consulting analyzes tightening commercial real estate capital markets, covering inflation, Sunbelt rental growth and shifting build-to-rent policy across the apartment sector.
Green Street's REIT-based price index rose 1.6% in May 2026 with the all-property index up 4.1% over twelve months, as NOI growth and steady cap rates lifted values, per co-head of strategic research Peter Rothemund.
Developed with Chandan Economics, the report tracks single-family rental performance, documenting sector resiliency, build-to-rent supply additions and property-level yields amid a softening for-sale home market.
Clarion Partners reviews the permanent extension of the Opportunity Zones program and its implications for real estate capital formation. The brief assesses how the structure shapes long-term investment.
The report covers U.S. hotel performance including occupancy, average daily rate and revenue per available room. It reviews demand trends and capital markets activity across the lodging sector.
Barings discusses emerging demand drivers and underwriting approaches for alternative real estate sectors and the case for diversification beyond the core property types.
The report tracks U.S. life sciences lab and research space demand, supply and rents across the major hubs. It assesses fundamentals amid shifting venture capital funding.
The report finds small multifamily prices and lending activity continuing to recover, supported by steady rent growth, rising occupancy and declining expense ratios that have lifted average net operating incomes.
Trepp's research blog covers CMBS, CRE lending and banking, noting capital is flowing again into 2026 as rates ease and leasing fundamentals stabilize.
The quarterly snapshot reviews UK commercial real estate performance, returns and investor sentiment, with retail expected to be a standout sector as capital returns at greater scale.
Newmark reports capital markets entered 2026 with renewed momentum as transaction activity, debt liquidity and asset returns aligned, with 2025 investment sales up 20% year over year and activity concentrated in deals under $100 million.
Multifamily posted strong absorption and slowing deliveries in 1Q26, while debt market liquidity remained robust with originations up 46% year over year.
Colliers notes office investment is recovering from its cyclical low, with private capital moving on reset pricing and AI-oriented leasing contributing to a resurgence in key markets.
Colliers' multifamily capital markets report covers investment volumes, pricing and debt conditions as the apartment sector emerges from its cyclical trough.
Trepp's monthly delinquency report tracks CMBS late-payment rates by property type, with office continuing to carry the highest delinquency among the major sectors.
The quarterly publication sets out Nuveen Real Estate's house view on opportunities and risks across global markets. It reports global private real estate values rising for five consecutive quarters through Q4 2025 and trailing transaction volumes of 890 billion dollars, up 17 percent year over year.
The semiannual ranking identifies the strongest U.S. metropolitan markets for multifamily investment based on demand, supply and economic fundamentals.
Commercial and multifamily mortgage debt outstanding rose 1.5 percent, or 75.2 billion dollars, to 4.99 trillion dollars in the fourth quarter of 2025. Multifamily debt grew 57.3 billion dollars during the quarter and 142.9 billion dollars for the full year.