Term Sheet: The Fed’s waiting game; BSP’s securitized spark; Savills’ Eastdil acquisition

Private real estate managers banking on continued interest rate cuts this year were met with a pause from the Federal Reserve and signals for further stalls ahead; Benefit Street Partners added to the commercial real estate collateralized loan obligation market’s momentum with a $1.1 billion offering; Savills and Eastdil Secured are set to further concentrate the global real estate credit advisory market with their merger; and more in today’s Term Sheet, exclusively for our valued subscribers.