Term Sheet: Fed’s rate fortitude; Durst’s Manhattan recharge; Hudson Bay’s credit fund close

Commercial lenders have some room to let current investment theses breathe with the Federal Reserve keeping rates unchanged; The commercial mortgage-backed securities market gets another office boost with a $250 million refinancing for the Durst Organization; Hudson Bay has more than $300 million of dry powder lined up with the close of its inaugural real estate credit fund; and more in today’s Term Sheet, exclusively for our valued subscribers.