U.S. ECONOMIC MACRO COMMENTARY & INSIGHTS
The State of Borrowing Costs: Higher Rates, Tighter Spreads
- Agency CMBS spreads have maintained a holding pattern for nearly 7 months
- Inflation continues to linger above the Fed’s stated 2% goal
- U.S. Treasury makes a play to drive interest rates tighter
There has been a lot of ink spilled recently about Treasury Secretary Scott Bessent’s announcement that the Treasury Department will increase its buybacks of longer-dated securities. But let’s not conflate the Treasury and the Fed. The Treasury’s job is to finance the government. The Fed’s job is to maintain price stability and employment. For years, investors have looked to the Fed when policymakers wanted to influence financial conditions or borrowing costs. Treasury’s recent actions don’t carry the same firepower.
Trading Spreads Hold Tight
2026 Multifamily Investor Sentiment Survey
In December 2025, we surveyed over 250 of our trusted clients from various companies, with most holding senior-level titles, for our second annual Multifamily Investor Sentiment Survey. Our goal is to provide a comprehensive view of current market sentiments to our clients, and we plan to share our findings in our detailed report.
2026 Multifamily
Powerhouse Poll
In Berkadia’s Annual Multifamily Powerhouse Poll, we surveyed over 200 investment sales advisors and mortgage bankers to offer their unique perspectives on the state of the commercial real estate (CRE) industry.
Beyond Insights: Markets
From occupancy to cap rates, employment to migration trends, read the latest market-driven insights.
Be Berkadia Spotlight: Beth Cork
At Berkadia, our success is built upon the talent and hard work of a broad, diversely skilled team. From analysts to loan closing specialists to managing directors, each of our people brings a unique background, perspective, and expertise. Their work allows Berkadia to remain a leader in the commercial real estate industry. Today, we’re shining…
220 & 230 West Alabama, Houston, TX | Sold by Berkadia 2026
Berkadia Negotiates Multifamily Property Sale in Houston, Texas Houston, Texas – September 15, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the sale of 220 & 230 West Alabama, two multifamily properties totaling 131 units in the heart of Midtown in the urban core of Houston, Texas. The Berkadia Houston Investment Sales team was…
2121 Virginia Avenue, Washington, D.C. | Financed by Berkadia 2026
Berkadia Arranges $92M Construction Financing for 299-Unit Multifamily Development in Washington, D.C. 2121 Virginia Avenue will deliver new housing in the Foggy Bottom neighborhood adjacent to George Washington University Washington, D.C. – September 14, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today that it secured a $92 million construction…