⭐️ 1. Market Moves

Overview: CMBS issuance climbs to $30.7B signaling confidence, Linneman sees up to three 2025 cuts, and 73% of Americans say it’s a bad time to buy.

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1. Q3 Issuance Rising: CMBS issuance hit $30.7B in Q3 2025, driven by single-borrower deals, putting annual volume on pace for the strongest year since 2007.

➡️ Why it matters: Strong CMBS activity signals renewed liquidity and investor confidence in CRE debt.

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2. Linneman’s Outlook: Economist Peter Linneman told Walker & Dunlop’s webcast the Fed may cut rates three times by 2025 as housing and CRE data stay uncertain.

➡️ Why it matters: Expecting more rate cuts could spur new CRE lending and investment.

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3. Home Buyer Pessimism: Fannie Mae’s September survey shows 73% of Americans think it’s a bad time to buy, as affordability and mortgage rates strain confidence.

➡️ Why it matters: Weak housing sentiment signals affordability stress that could cool CRE demand.

📈 2. Chart to Watch

Multifamily construction starts have plunged to decade lows, tightening future supply and supporting a stronger performance outlook for existing and stabilized assets.

➡️ Why it matters: Lower supply cushions rents and occupancy, boosting multifamily investment resilience.

💰 3. Capital To Know

Cirrus is a real estate investment management firm committed to developing long-term borrower, partner and investor relationships that result in mutual benefit and shared success.

• Program - Workforce Housing Development Program – Site Acquisition Parameters
• Structure – GP or Co-GP
• Transaction Characteristics – Acquisition or structured purchase
• Equity Check Size - $15,000,000 - $30,000,000
• Sectors – Workforce housing development sites
• Target Markets (including surrounding areas) – NY, NJ, CT, Philadelphia, Boston
• Entitlements – Fully entitled for 145-350 units multifamily; 150-250k SF ZFA
• Area Characteristics – Transit oriented, submarket rents of $80+ PSF
• Site Conditions – Brownfields considered
• Conversions – Considered
• Project Timeline – Shovel ready within 12 months

Have a CRE deal that needs financing? Email us:

huber.b@crediblecre.com

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