Short-term interest rates have been in the spotlight recently due to the Federal Reserve’s post-pandemic tightening cycle, where the policy rate has been raised a total of 500 basis points from March 2022 to May 2023.  Many dislocations in financial markets have occurred because of this interest rate shock.  Most recently, a banking crisis of...Read More

The President’s budget request was released on March 9th and features spending of more than $6.9 trillion (1), compared to last year’s request of $5.8 trillion (2) for FY23. The traditional annual budget process is complex and occurs in planned steps throughout the calendar year that are often adjusted for political purposes. The standard process...Read More

Life Science office and lab space has been one of the fastest growing commercial real estate sectors in the United States, part of which was fueled by the COVID-19 pandemic and investors favoring office and lab buildings with sticky tenancies that were averse to the remote-work movement. Life Science companies had been able to raise...Read More

What’s in store for 2023 when it comes to construction and associated costs?  As with most things, only time will truly tell.  What we do know is over the past year, inflation and interest rates have soared and from the war in Ukraine to lingering pandemic stresses, impacts on certain construction materials, amongst most other...Read More

Both stocks and bonds have shown resilience to start the year, posting solid gains despite a recent crisis in confidence in the banking sector, which has resulted in a significant amount of uncertainty surrounding the outlook for the economy, inflation, and the path the Federal Reserve may take.  This article will take you through the...Read More

Before the pandemic rattled the U.S. office market, a trend of focused leasing demand developed that has since carried through the pandemic and remains one of the strongest drivers of leasing. Both owners and occupiers have concentrated on a flight to quality when developing new buildings or selecting locations for their new offices. The buildings...Read More

As seen in a few headlines over the past weeks, there have been some large national real estate investors that have defaulted on loans and rattled the commercial real estate markets. As we will discuss below, this may be the tip of the iceberg as investors are facing refinancing costs significantly higher than their current...Read More

The aggressive path of the Federal Reserve’s tightening cycle is well documented, with the Federal Open Market Committee (FOMC) raising interest rates 450 basis points over the course of eight consecutive meetings.   With the policy rate now approaching 5%, recent strength in some key economic indicators has raised the question if the 2023 ‘dots’ could...Read More

The everyday investor may have never heard of collateralized loan obligations, otherwise known as CLO’s, but they are quickly becoming a major part of the structured financial market. CLO’s are debt instruments that have been around for over 30 years and have a proven track record of protecting  principal while offering attractive returns for investors....Read More

In the United States, buildings account for almost 40% of energy consumption and over 30% of greenhouse gas emissions and can be a higher source of emissions in cities.1 State and local governments are implementing building performance standards to help achieve their energy and decarbonization goals for the building sector. Benchmarking is used to measure...Read More