Capital Markets and Finance
The 27th annual ULI Real Estate Economic Forecast points toward positive, but also toward sharply lower expectations for GDP and job growth this year. The consensus forecast calls for GDP growth to decline to 1.3 percent this year—a 150-basis-point drop compared to 2024.
During the “Capital Markets: Raising Equity Today” discussion at ULI’s 2025 Spring Meeting in Denver, Colorado, a panel of industry experts and capital providers—moderated by Faron A. Hill, president of Peregrine Oak—shared their insights with a standing-room-only crowd on what they’re looking for in an equity partner—and what makes them walk away from deals.
The hotel industry in the United States faces complex challenges in 2025, according to Jan Freitag, national director of hospitality analytics for the CoStar Group. During the “State of the U.S. Hotel Industry” presentation at the ULI 2025 Spring Meeting in Denver, Colorado, Freitag highlighted the challenges facing the hotel business amid macroeconomic uncertainty.
Capital is widely available for real estate borrowers, and lenders are eager to do business. This takeaway was a key theme from a panel discussion held at the 2025 ULI Spring Meeting in Denver, Colorado.
How are tariffs likely to affect commercial real estate?
Real estate professionals—from developers to investors—may need to re-evaluate underwriting assumptions and growth expectations.
Deal-making has lately proved to be tough sledding for the commercial real estate industry. Although 2024 brought a welcome rise off the bottom in year-over-year sales, total sales still came in at the second-lowest level since 2013. The latest data from MSCI Real Assets shows $438 trillion in 12-month trailing sales volume through February, a 15 percent increase on a year-over-year basis.
The search for new growth and potential out-performance is shifting real estate allocations toward niche sectors such as cold storage, medical office, single-family rentals (SFR), and senior housing.
With a rapidly expanding market, navigating the sea of financing mechanisms is a challenge. These are more than just funding sources. They are strategic tools that channel capital into sustainable projects while also managing environmental risks and delivering financial returns.
Los Angeles-based impact fund manager SDS Capital Group has launched a new capital platform—SDS Impact Debt (SDSID)—that aims to bring much needed, low-cost debt to the affordable housing market. It is an asset-backed model that offers below-market financing (both permanent and construction) for affordable housing projects—and is potentially scalable across the U.S.