1. FROM CAUTION TO OPPORTUNITY Hospitality entered 2026 as one of the most cautiously approached sectors, held back by rising operating costs and buyer-seller pricing gaps. By late summer, deal activity is picking up and capital is moving beyond trophy assets, though unevenly. 2. HOTELS ARE UNDERWRITTEN LIKE BUSINESSES Without long-term leases, hotel value follows …
1. THE 2026 RATE REALITY Rate cuts have arrived slowly and unevenly, so higher-for-longer is now the working assumption. The question has shifted from whether NNN is attractive to whether it still works at today’s cost of capital. The answer is yes, with more conditions attached. CRE Daily has reported that persistent inflation and rising …
1. SAME YIELD, DIFFERENT RISK Two single-tenant retail buildings can both be marketed as NNN at the same 6.8% cap rate, yet split roof, structural, and casualty obligations between landlord and tenant very differently. Where a lease sits on the net lease spectrum determines how passive and predictable the income really is, a factor that …
1. CPI INFLATION The Consumer Price Index (CPI) rose 0.6% in September, according to data released on October 14th by the Bureau of Labor Statistics. It was the largest monthly gain of 2026. Meanwhile, consumer prices rose 3.7% year over year, above the 3.6% consensus estimate and up from 3.4% in August. Energy drove the …
1. FED INTEREST RATE DECISION On September 16th, the FOMC voted unanimously to raise the benchmark Federal Funds rate target range by 25 basis points to 3.75%–4.00%, the committee’s first rate increase since July 2023. The decision follows months of the FOMC holding rates steady while monitoring whether inflation would continue to soften, a bet …
1. KEVIN WARSH JACKSON HOLE KEYNOTE In an August 28 keynote address at the annual Jackson Hole Economic Policy Symposium, Federal Reserve Chair Kevin Warsh offered his strongest signal yet on the Fed’s current policy stance, stating he would be “hard pressed to describe broad financial conditions as restrictive,” naming PCE as the inflation gauge …
1. CPI INFLATION According to the latest MSCI-RCA Commercial Property Price Index, US commercial real estate prices rose 0.2% year-over-year in July and 0.1% from June, implying an annualized pace of 1.2% and the slowest annual gain in the index since January 2025. CBD Office led all property types by a wide margin, rising 9.9% …
1. CPI INFLATION According to the Bureau of Labor Statistics, consumer prices rose 0.1% in July and rose 3.4% year-overyear, with both figures landing in line with consensus forecasts. Core CPI rose 0.2% in July after being unchanged in June, bringing the annual rate down to 2.5% from 2.6%. Shelter rose 0.1% for the month, …
1. GDP: Q2 ADVANCED ESTIMATE According to the advanced estimate released by the Bureau of Economic Analysis (BEA), real GDP grew at an annualized rate of 1.5% in the second quarter of 2026, down from 2.1% in the first quarter and below the consensus estimate of 2.1%. It is the second consecutive quarter of decelerating …
1. CPI INFLATION Consumer prices fell 0.4% on a seasonally adjusted basis in June, its largest single-month decline since April 2020, according to the latest CPI release by the Bureau of Labor Statistics. Prices rose 3.5% over the past 12 months. A retraction of energy prices drove the decline. The energy index fell 5.7% in …