Insights

The Federal Reserve held the federal funds rate at 3.75% to 4.00% this week, as widely expected. But borrowing costs didn’t follow. Long-term Treasury yields remain elevated, even after rallying…

Not every hotel facing pressure looks distressed. Some are still making their debt-service payments. They are operating, generating revenue, and may appear stable on paper. But current performance does not…

If you made the trip to Chicago for this year’s NIC Fall Conference, the vibe probably felt a little different than in years past. The prevailing sentiment coming out of…

The Fed raised rates in September, but the more consequential message may be that Warsh is less interested in where policy sits relative to neutral than in whether financial conditions…

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…

Why Agency borrowers have been helped more by spread compression than Treasury policy There has been a lot of ink spilled recently about Treasury Secretary Scott Bessent’s announcement that the…

Second Quarter Healthcare REIT Themes  Capital Recycling Is Accelerating: Healthcare REITs are increasingly monetizing or recapitalizing outpatient medical assets to unlock flexible equity, preserve management income, and redeploy capital into…

Real yields are doing much of the tightening work and theyoffer the clearest read on the true cost of capital. The Federal Reserve may be holding its policy rate steady,…

A hawkish Fed Chair, softer inflation data, and a credibility test arriving sooner than the market may expect.  Markets came into Wednesday’s FOMC meeting focused on one question: why didn’t…

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…