Private-equity funds have been holding on to past investments longer, drying up cash flow back to investors in those funds. This hinders the deployment of funds for new deals.
NYC Residential
There were more $30 million-plus home sales below 34th Street in the past five years than in the previous decade. Since 2023, the area has seen more than $1 billion worth of home sales above $20 million.
Federal Debt
Publicly held federal debt stands at about $29 trillion, nearly double the level when Trump signed his original tax cut in 2017.
College Towns
Among metropolitan areas especially reliant on higher education, three-quarters of them suffered weaker economic growth between 2011 and 2023 than the U.S. as a whole. In the prior decade, most of these same metro areas grew faster than the nation did.
Mortgage Maturities
An estimated $957 billion of the $4.8 trillion in outstanding commercial mortgages held by lenders and investors is expected to mature in 2025 — a 3% increase from the $929 billion that matured in 2024.
CMBS Delinquency
Moody's CMBS Conduit/Fusion Delinquency Tracker ticked up to 8.17% in April, surpassing the previous pandemic peak of 7.95% in July 2020. In April, $2.31 billion in loans entered delinquency, 52.6% of which was secured by office loans, 17.2% secured by retail loans and 8.8% secured by hotel loans.
401(k) Private Markets Investments
The 401(k) giant Empower will start allowing private credit, equity and real estate in some of the accounts it administers later this year. The firm is expected to announce Wednesday that it has joined with seven firms to offer these investments.
Centennial Yards Live Nation
Live Nation committed to lease a 5,300-seat entertainment venue at Centennial Yards, the more than $5 billion mixed-use megaproject under construction next to the Atlanta Hawks’ basketball arena and Mercedes-Benz Stadium.
Retailers
Retailers vacated nearly 6 million more square feet than they occupied during the first three months of the year. That marked the weakest quarter for shopping-center leasing since the onset of the pandemic in 2020.
Brookfield Fund
Brookfield raised $5.9 billion for its new real-estate fund in the first quarter, signaling growing investor appetite for distressed commercial property. Brookfield is taking advantage of the sharp drop in property prices, buying foreclosed properties and relatively healthy ones where sellers want to cash out. The fund has invested about a quarter of its money, mostly in apartment buildings and warehouses, at prices well below replacement cost.