Capital Markets

There’s likely more CRE damage coming and a need to face financial realities.

But, as one might expect, office is still hurting.

If the 10-year hits 5% and keeps going, that would complicate a CRE recovery.

But not across all sectors.

However, except for smaller banks, the rate of new modifications is slowing.

A rally in REIT performance could boost public and private deal flow in 2025.

But is that the wisest move?

And the bigger the delinquency, the larger the perceived impact.