GLED004 - Tuesday Market Analysis

Tuesday morning, and while your competition is still digesting yesterday's news, we're delivering the intelligence that positions institutional real estate capital for today's advantage. **Tuesday Market Pulse:** - Treasury at 4.25% (slight decrease from previous session) - 2-Year at 3.64% - SOFR steady at 4.34% - Fed funds maintained at 4.25%-4.5% range with September meeting in focus **CMBS Intelligence:** - Record CMBS issuance $58.8-59.55B in H1 2025 (highest since 2007 Global Financial Crisis) - SASB deals dominating at 74-75% of total issuance - "flight to quality" among investors - Office CMBS delinquency hit record 11.7% in August (surpassing Financial Crisis peak) - Overall CMBS delinquency at 7.29% with $44B in missed payments **Tuesday Deal Flow:** - Veris Residential sold "The James" 240-unit Park Ridge property for $117M - "Signature Place" Morris Plains for $85M to Boston-based Berkshire - MetLife completed "Golden Coast Portfolio" sale - three industrial properties, 600K sq ft Southern California for combined $165.5M - KPMG leased 70K sq ft in U.S. Bank Tower **Sector Positioning:** - Multifamily: 20% YoY increase in net absorption, strong urban core performance - Industrial: 24% of all CRE investment in H1 2025, cooling from post-pandemic boom - Office: vacancy hit record 20.4% in Q1 2025, but prime Tier 1 assets seeing modest gains - Retail: maintaining 15-year low vacancy at 4.8% with fastest rent growth **Tuesday Advantage:** - CRE market projected $6.28T in 2025 (5.8% CAGR growth) - Institutional capital flowing to tier-2/3 cities and alternative assets - Maturity wall approaching with $150.9B in loan maturities, 23% office loans - Wells Fargo, Citi, Goldman leading CMBS bookrunners Tuesday intelligence that drives institutional decisions while others react to yesterday's data. Because in commercial real estate capital markets, current intelligence isn't optional - it's competitive advantage.