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.
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
North America-focused commercial real estate debt funds raised roughly $20.06bn for new vehicles in the fourth quarter of 2023.
The multifamily sector took 42 percent of the total loan volume, according to deals tracked by Real Estate Capital USA’s Lending Barometer.
The index was at 21.18% in January compared with 21.07% in both December and November 2023.
Atlanta loan servicer and advisory dials up data efforts as market remains hindered by wide bid-ask spreads.
The New York-based agency saw a loss severity of 48.4% in 2022, versus a loss severity of 56% in 2021.
The pension fund was the largest investor in commercial real estate debt from Q1-Q3 in 2022