Capital Markets

Uncertainty brought on by the tariff announcements threatens the debt markets’ momentum.

Banks have become more conservative with loan-to-value and debt service coverage ratios.

The market shows early signs of stabilization, but there were increases in delinquency and special servicing rates.

Lenders are increasingly focused on refinancing opportunities and portfolio optimization.

Many predictions are running between September and December.

CMBS issuance increased 21.7% from the previous quarter.

There was also increased interest from lenders.

Federal tax rates on general partners and managers could cause big changes.