Proposed framework adjustments may unlock billions in capacity.

Maturity extensions now dominate modifications, with office loans accounting for nearly two-thirds of the total.

Prophetic Technologies aggregates hard-to-find land and zoning data, giving developers new visibility.

A short-lived spike keeps recession at bay, while prolonged disruption raises downside risks.

Weaker-coverage loans concentrated in later maturities could surface down the line.

Leading properties report outsized tenant performance.

Investor redemptions and rising defaults are pushing capital toward discounted real estate assets.

Liquidity conditions reached new highs at the end of 2025, though fundraising remains sluggish.