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Episode 39: State of the CRE Debt Market—Insights from CREFC’s Lisa Pendergast

March 28, 2025 < 1 min

This week the LightBox podcast team talks with Lisa Pendergast, President and CEO of Commercial Real Estate Finance Council (CREFC) about the CRE debt market. Together, they discuss the current landscape of the commercial real estate finance market, highlighting a sharp rebound in market sentiment and CMBS issuance volumes. And, despite the robust levels of new issuance, lenders are proceeding with a disciplined approach to underwriting deals. Lisa shares insights into the performance of key asset classes and puts some important perspective on negative media headlines. The discussion also covers policy and regulation and the potential impact of stagflation on CRE finance, and the growing emphasis on affordable housing initiatives. And, Lisa closes with her thoughts about reasons for optimism in today’s market.

01:19 Current State of the CRE Finance Market
03:07 Market Sentiment and Robust Issuance Volume
05:49 Challenges in the Office Sector
10:04 Stagflation and Economic Concerns
17:29 CREFC’s Engagement with Policy Makers
20:47 Role of CRE CLOs for Transitional CRE Assets
25:41 Reasons for Optimism in the Market

Have questions for the pod team? Send them to Podcast@LightBoxRE.com