GlobeSt.com has been exploring in depth some of the insights into capital markets by MSCI, including the current complexity of CRE debt financing, the state of CRE debt, and the latest on CRE lending sources.
The overall report also had information on an important aspect of development, construction financing. The pace in the first half of 2023 dropped by 38% from the pace in the same period of 2022. "Lending activity hit a high point early in 2022 with still-low interest rates and a hunger for yield driving investors to move forward on development projects," MSCI wrote.
Then again, 2021 and 2022 were extraordinarily active, setting a high baseline. Any drop could be a revision toward something more historically normal. Maybe the pace in the first half of the year wasn't that bad.
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