⚫️U.S. Apartment Construction Pipeline Shrinks to Lowest Level Since 2015
The under-construction pipeline has fallen ~60% from the 2023 peak to ~543k units, setting up a 2026–27 supply drought after 2025’s final wave of deliveries. Date: 09/2025. Source: RealPage Market Analytics (Q2 2025).
⚫️Big Refinancing Show Lenders Still Backing Apartments and Industrial
Selective lending continues for top-tier multifamily and industrial assets as bank hapoalim and starwood provide $720M in strategic NYC refinancing amid challenging CRE market.
CMBS Market Defies Odds as Issuance Hits Post-GFC High Despite Office Woes
Single-asset blockbuster deals pushed securitized debt to a 15-year high, even as office defaults climbed to records. September 2, 2025 — Trepp; Bisnow; Bloomberg; Colliers — CRE360 Signal Staff