Cottonwood closes a $1B opportunistic fund to target the looming CRE maturity wall, while Starwood secures a $930M CMBS refinance for its industrial portfolio. Apartment rents stall under heavy new supply, luxury hotels stay resilient, and economy segments lag. CRE360 Signal explains where distress capital is flowing, which assets still secure financing, and why capital stack discipline matters more than pricing.

Oil prices rebound to the mid-sixties, giving hotels short-term utility relief heading into Q4. Markets price a near-certain September Fed cut, creating a refinancing window, while Chicago’s medical office market outperforms with low vacancy and tightening cap rates. CRE360 Signal unpacks how energy swings, monetary policy, and sector fundamentals are shaping today’s deal math.

U.S. apartment construction has fallen to its lowest level in a decade, setting up a supply drought by 2026–27. CRE prices are stabilizing for the first time since 2022, while lifestyle office districts are outperforming with premium rents and faster lease-ups. We break down what this pivot means for investors, developers, and operators positioning for the next cycle.

Nomura re-enters U.S. commercial real estate lending after nearly three decades, hiring Barclays’ top CMBS team to fill the gap left by retreating banks. We break down what this means for borrowers with trophy assets, the near-$1B Marco Island resort sale testing luxury hospitality cap rates, and why CMBS distress still isn’t translating into forced sales. Plus, the CRE360 Take on how selective capital is reshaping deal flow.

All eyes are on the Federal Reserve.
Governor Chris Waller said he supports a September rate cut, with the pace dependent on incoming data.
Markets are already pricing in a near-certain move. Futures imply a ninety-two percent chance of a twenty-five basis-point cut at the September seventeenth meeting.
The current policy range sits at four and a quarter to four and a half percent. Waller favors a gradual path down.
For real estate, the implications are direct. Rate relief lowers debt service, extends buyer underwriting, and accelerates a lending thaw that was already visible in the second quarter.
According to the Mortgage Bankers Association, originations jumped sixty-six percent year over year and forty-eight percent quarter over quarter.
In short, easier money could reopen the financing pipeline.