Economic Climate: U.S. economic growth remains moderate but positive, with forecasts suggesting real GDP expansion around or above trend in 2026 (e.g., around ~2.2–2.6% for the full year according to some forecasts). Strong recent growth in late 2025 (e.g., robust Q3 and Q4 figures) may carry momentum into early 2026, though this may not persist […]

Defeasance 2025 Year in Review: · Defeasance activity in 2025 occurred against a stressed CMBS backdrop, with overall delinquency rates remaining elevated above 7% for much of the year, limiting opportunistic loan payoffs and refinancing-driven defeasance. · Office and multifamily sectors exhibited heightened distress, with office delinquencies reaching record levels and multifamily delinquency rising to […]

Economic Climate: According to Vanguard, the U.S. economy has regained momentum after the end of the 43-day federal shutdown — they lift their 2025 growth estimate to about 1.9%. Third-quarter 2025 data suggests growth remained solid: private business investment and consumer demand held up relatively well, and many states saw income growth. Inflation has moderated […]

Economic Climate: Moderate U.S. growth (~1.8 – 2.0%) — The economy is slowing but not contracting; consumer spending and services remain resilient while manufacturing and exports face headwinds. Inflation slightly sticky (~3%) — Price pressures have eased but not fully normalized; the Fed remains cautious, likely delaying aggressive rate cuts until inflation moves closer to […]

Economic Climate: Growth Cooling – GDP growth is projected around 1.6% for 2025, with Q3 still solid but a slowdown expected into late 2025. Inflation Moderating but Sticky – Core PCE inflation is easing, though it remains above the Fed’s 2% target, with risks from tariffs and supply pressures. Labor Market Softening – Unemployment is […]