New deliveries outran absorption in the third quarter and pushed vacancy to 4.7%, even as the construction pipeline keeps shrinking.

Its life sciences and defense startup base gave the city an edge in the R&D space and federal research funding.

Some borrowers, like the PGIM joint venture, are turning to bridge financing amid interest rate volatility.

International investors stayed interested in U.S. real estate but held back as tariffs, wars and policy shifts piled up.