A split market: Commercial real estate lending trends from Q1 2026
About this episode
The episode discusses the current state of the commercial real estate lending market, highlighting trends and challenges.
From a 24% quarter-over-quarter rebound in lender quotes to the diverging paths of floating and fixed rate borrowers, the episode offers a data-driven read from Andrew Pabon, Director of Debt Advisory at Altus Group, on where the debt market stands today. Andrew and the CRE Exchange team also dig into the maturity wall, multifamily delinquencies hitting new highs, the lender mix leaning toward debt funds, and what the private credit stress story might mean for private credit in commercial real estate going forward. Key moments 01:10 SLOOS signals 02:39 Earnings call takeaways 06:30 Split market outlook 10:12 Benchmark rollercoaster 13:47 Spreads and liquidity 17:06 Collateral by property type 19:57 Maturity wall risks 24:22 Changes in lender mix 25:21 Macro crosscurrents 28:38 Private credit stress 31:01 Survey invitation Resources mentioned Andrew Pabon https://www.linkedin.com/in/andrew-pabon-15a6976/ Commercial real estate debt capital markets survey https://www.altusgroup.com/featured-insights/cre-debt-capital-markets-survey-registration/
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