H1 saw a mere $4.5bn of new commitments made to commercial real estate private credit strategies.
Analysts said the asset class is facing expected pressure and risks within control.
The Stern Center for Sustainable Business believes New York’s largest banks and lenders will play a key role in a broader decarbonization strategy.
The firm's global head of real estate Ralph Rosenberg raises the question of whether the sector is in for a near-term period of significant defaults.
A growing number of commercial real estate managers have launched or expanded their lending platforms over the past three to six months.
North America-focused commercial real estate debt funds raised roughly $20.06bn for new vehicles in the fourth quarter of 2023.
Spreads on newly originated loans were modestly tighter, according to data from Cushman & Wakefield.
Top 10 investor commitments to North America-focused real estate debt funds in Q1 2024
The index was at 21.18% in January compared with 21.07% in both December and November 2023.
The multifamily sector took 42 percent of the total loan volume, according to deals tracked by Real Estate Capital USA’s Lending Barometer.