Lenders extended $384 billion in loans into 2025, surpassing 2024 levels, with 40% of maturities now deferred. CMBS and banks lead extensions, while many 2025 maturities will push into 2026 or beyond.
January sales volume fell 14%, driven by a 42% drop in portfolio deals, despite a 1% rise in single-asset transactions. Office sales jumped 80%, hospitality 26%, and multifamily 9%. Portfolio activity is rebounding, hinting at future growth.
Chicago's office investment rebounds as opportunistic buyers seize deep discounts, with high vacancies and upcoming loan maturities creating new opportunities.
Housing starts hit 1.37 million in 2023, with multifamily starts declining while single-family rises. Multifamily completions reached a 50-year high, and growing unsold inventory is boosting single-family rental opportunities.
Discover key insights from January’s top industry conferences—CREFC, ALIS, and NMHC—where investors, developers, and financiers gathered to discuss market trends and opportunities.
Total distress rose 24% in Q4 2023, with $107 billion in the market. Despite slowing growth, loan maturities and high interest rates will keep creating opportunities.
In Q4, the market hit nearly $120 billion in volume, the first time since Q4 2022, driven by a 34% increase across major asset classes, with multifamily, office, and industrial leading, suggesting a strong start for 2025.
Fundraising declined in 2024, with $80 billion raised, while core fundraising hit a record $9.5 billion. Investors are spending down reserves, and shifts in uninvested capital will drive deal activity in 2025.
Sandy McDonald
Ronna Larsen