The Money Moved

Podcast: Commercial Real Estate Investment Conference Podcast (CREIC) · Commercial Real Estate Investment Conference

Opublikowano: 2026-09-27

Everyone in commercial real estate is staring at the debt wall. Meanwhile, the money quietly moved, and it left a trail you can follow straight into the next cycle. The LPs changed sides. Institutional LPs are stepping back from CRE equity and stepping into private credit. The asset class crossed $3.5 trillion, and with $4.5 trillion in CRE debt maturing by 2028, private capital is stepping straight into the capital stack. The same money that used to buy the deals is now lending against them. Equity is out. Credit is in. That reshapes every pitch, every fund, every pro forma...