03/18/2026

This week’s data shows a clear divide:

• Capital is still flowing
• But it’s becoming more selective, more strategic, and more disciplined

If you’re building, developing, or raising capital right now—this is exactly the kind of market where understanding the trends gives you an edge.

Here’s what we’re seeing 

Big money is still getting deployed:

• $345M refinance on The Mark Hotel in NYC 
• $126M refinance on a Brooklyn multifamily project 
• $49M construction loan for new development in New Jersey 

Takeaway:
Lenders are active—but only for:

• Strong sponsors 
• Proven markets
• Well-structured deals

CFUND Insight:
This is a capital efficiency market, not a capital shortage market.

There are real cracks forming beneath the surface:

• CMBS distress rising across hotels, office, and multifamily 
• 187 loans transferred to special servicing (majority hospitality) 
• DSCR compression and maturity defaults increasing 

Takeaway:
We are entering a phase where:

• Poorly structured deals will get exposed 
• Refinancing is becoming the biggest risk

CFUND Insight:
The next 12–24 months = opportunity through distress

Two standout trends:

• $61B invested in 2025 alone 
• Supply constrained due to power + zoning

• Supply normalized → rent growth expected
• Demand driven by:
  • E-commerce
  • Onshoring 
  • Logistics 

Takeaway:
Capital is chasing infrastructure-backed real estate

CFUND Insight:
Follow power + logistics + population growth

One of the most interesting plays right now:

• Tenants paying 20–30% rent premiums for powered sites 
• Demand from:
  • EV fleets
  • AI infrastructure
  • Autonomous logistics

Takeaway:
Real estate is evolving into energy + infrastructure plays

CFUND Insight:
Land + power = one of the most valuable combinations in CRE right now

• Rent growth slowing (~1.5–2%) 
• Weak job growth impacting demand
• But high-end development still performing

Takeaway:
The market is becoming:

• Top-tier strong
• Mid/low-tier under pressure

CFUND Insight:
Build for:

• The right buyer
• The right price point
• The right exit strategy

This isn’t a downturn.
It’s a sorting phase.

• Strong deals → get funded
• Weak deals → get exposed
• Smart operators → gain market share

The question isn’t “Is there money?”
The question is “Are you positioned for it?”