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

The term “Return to The Office” has commanded time in the news cycle over the past two and a half years. As companies struggle through return strategies, executives are realizing there is no one-size-fits all solution to the future of the office. Despite the uncertainty, investors and tenants are similar in their attraction to quality....Read More

In recent weeks, there has been a divergence of opinion on one of the most important macroeconomic topics monitored throughout the finance industry. No, not the disappearance of Alaskan Snow Crabs, but the impossible task of forecasting the federal funds terminal rate. With futures markets currently pricing in an approximate peak rate of 5% in...Read More

The tides are beginning to turn for investors as the ratio of upgrades to downgrades begins to fall. In the first quarter of 2022 the ratio was 6.4x, showing the effects of COVID debt repayment and revenues returning to more normalized levels. However, following the second quarter of this year, the ratio has dropped to...Read More