News Archive

The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.

CREFC's March 2025 Monthly CMBS Loan Performance Report

April 30, 2025

CRE Finance Council has released a report on CMBS loan performance for March.

News

‘26 Election Outlook in the Wake of Senate Retirements

April 29, 2025

With Senator Dick Durbin’s announced retirement last week, the Democratic Party faces a major generational shift and a fiercely competitive cycle ahead of the 2026 midterm elections.

Why it matters: Durbin, one of several longtime lawmakers announcing plans to retire, said it was time to "pass the torch," reflecting a broader generational transition in Democratic leadership.

Four other senators have also retired so far this year:

Mitch McConnell (R-KY) will leave after 42 years in the Senate and a record-setting tenure as party leader.
Jeanne Shaheen (D-NH) is retiring after 18 years in the Senate and decades of public service.
Tina Smith (D-MN) plans to retire after 9 years in the chamber; she was first appointed after Sen. Al Franken (D-MN) resigned in 2018.
Gary Peters (D-MI) will leave after 12 years, calling for “new leadership.”

Go deeper: Senator Durbin—the Democratic Whip—has been the number two Senate Democrat since 2005 and is the top Democrat on the Judiciary Committee.

His retirement sets off a scramble not just for his seat, but for a coveted whip leadership post within the Senate.
Sen. Brian Schatz of Hawaii, who serves as the Democrats’ chief deputy whip, is viewed as a top contender to succeed Durbin in the number two position.

These retirements signal a significant transition, particularly within the Democratic Party, as a new generation of lawmakers prepares for the 2026 midterms. Democrats already faced a tough cycle ahead of them, but these retirements are not helping them in their quest to retake the majority, according to Politico.

By the numbers: The six most competitive Senate seats in the 2026 cycle are outlined below. Three of these seats are in states where the senior Democrats listed above are retiring.

Michigan (Open – D): With Senator Gary Peters retiring, this swing state is a toss-up between rising Democrats and GOP veteran Mike Rogers; many contenders on both sides likely will toss their hat in the ring.
New Hampshire (Open – D): Jeanne Shaheen’s retirement sets the stage for a crowded field of Democratic and Republican contenders.
Minnesota (Open – D): Tina Smith’s departure creates a rare open race in a state with a dynamic political identity and significant suburban swing voters.
Georgia (Incumbent – D, Jon Ossoff): Ossoff faces re-election in a purple state where high-profile Republicans may challenge him. Current Governor Brian Kemp would be a frontrunner if he decides to jump into the race.
North Carolina (Incumbent – R, Thom Tillis): Internal GOP divisions and rising Democratic interest could make this traditionally red seat more vulnerable than expected.
Maine (Incumbent – R, Susan Collins): Collins is running again in a blue-leaning state, and Democrats hope to finally flip the seat after multiple close calls.

The bottom line: Senator Durbin is just one of several veteran members of Congress to step aside for a new generation of leaders. The 2026 midterm cycle has just begun, and we will watch to see if more Senators head for the exits.

Please contact James Montfort (jmontfort@crefc.org) with any questions.

Contact

James Montfort
Manager,
Government Relations
202.448.0857
jmontfort@crefc.org

The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.

‘26 Election Outlook in the Wake of Senate Retirements

April 29, 2025

With Senator Dick Durbin’s announced retirement last week, the Democratic Party faces a major generational shift and a fiercely competitive cycle ahead of the 2026 midterm elections.

News

It’s a Wrap: First 100 Days in Regulatory Changes

April 29, 2025

The Office of Management and Budget’s Office of Information and Regulatory Affairs (OIRA) issued initial implementation guidance on April 17 to bring historically independent agencies into compliance with President Donald Trump’s February Executive Order (EO) “Ensuring Accountability for All Agencies.”

OIRA notes that it is likely to issue additional guidance as more clarification is needed. The initial guidance clarifies that these independent agencies’ regulatory actions are subject to OIRA’s review:

The guidance explains that independent regulatory agencies must involve OIRA at all stages of rulemaking (e.g., advanced notices of proposed rulemaking, notices of proposed rulemaking, and final rules) and are subject to this centralized review.
It applies to at least 20 boards, commissions and other agencies, including the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC).
However, it does clarify that the February EO shall apply to the Board of Governors of the Federal Reserve System “only in connection with its conduct and authorities directly related to its supervision and regulation of financial institutions”; i.e., shall not apply to its monetary policy activities.

To comply with the February EO, each agency is directed to designate employees to fulfill two positions:

Regulatory Policy Officer (RPO): As a direct report to the agency head, the RPO will be a political appointee with the authority to approve (or obtain the approval of) policy positions on behalf of the agency; and
Regulatory Second is a less formal but crucial role played by a senior agency official (traditionally a career employee) who coordinates or leads an office in coordinating agency work on all regulatory actions reviewed under the EO.

Although the appointments of the above positions were to have taken place by April 21, information has not yet been made public.

As reported in previous CREFC Policy and Capital Markets Briefings, market watchers have speculated that the Trump administration might be considering consolidating the banking agencies.

According to the American Banker, however, Treasury Secretary Scott Bessent, who has said that the banking agencies should be “singing in unison from the same song sheet,” might be looking to this detailed guidance as a substitute for agency consolidation.

New Regulatory Leadership Developments: On April 21, Paul Atkins was sworn in as the new SEC Chair. Other leadership confirmations remain outstanding. Please see here for CREFC’s Regulatory Tracker.

Contact Sairah Burki (sburki@crefc.org) with any questions.

Contact

Sairah Burki
Managing Director,
Head of Regulatory Affairs and Sustainability
703.201.4294
sburki@crefc.org

The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.

It’s a Wrap: First 100 Days in Regulatory Changes

April 29, 2025

The Office of Management and Budget’s Office of Information and Regulatory Affairs (OIRA) issued initial implementation guidance on April 17.

News

Committee Calendar for the Week

April 29, 2025

Key congressional financial services committees will hold several hearings this week and a markup of legislation related to the reconciliation bill.

The House Financial Services Committee bill slated for markup is fairly narrow and primarily looks to reduce funding levels for the Consumer Financial Protection Bureau (CFPB).
The Senate Banking Committee will hold a hearing on insurance and mitigation procedures.

Tuesday, April 29

House Financial Services will hold a hearing titled Regulatory Overreach: The Price Tag on American Prosperity at 10:00 AM.
House Financial Services will hold a hearing titled Exposing the Proxy Advisory Cartel: How ISS & Glass Lewis Influence Markets at 2:00 PM.

Wednesday, April 30

House Financial Services will hold a budget reconciliation markup at 10:00 AM.

Thursday, May 1

Senate Banking will hold a hearing titled Examining Insurance Markets and the Role of Mitigation Policies at 10:00 AM.

Contact David McCarthy (dmccarthy@crefc.org) with any questions.

Contact

David McCarthy
Managing Director,
Chief Lobbyist, Head of Legislative Affairs
202.448.0855
dmccarthy@crefc.org

The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.

Committee Calendar for the Week

April 29, 2025

Key congressional financial services committees will hold several hearings this week and a markup of legislation related to the reconciliation bill.

News

Capital Markets Update Week of 4/29

April 29, 2025

Private-Label CMBS and CRE CLOs

Only one transaction priced last week:

BBCMS 2025-5C34, a $783.1 million conduit backed by 37 five-year loans secured by 66 properties from Barclays and seven other loan contributors.

Deal volume has slowed considerably following President Donald Trump’s April 2 tariff announcement. Only $3.2 billion of transactions have priced in April, well below the monthly average of $15.3 billion in the first quarter. According to Commercial Mortgage Alert, issuers are cautiously stepping back into the market with several transactions currently making the rounds with investors.

By the numbers: Year-to-date private-label CMBS and CRE CLO issuance totaled $49.1 billion, representing a 91% increase from the $25.7 billion recorded for the same period in 2024.

Spreads Tighten but Remain Near Year Highs

Conduit AAA and A-S spreads were unchanged at +103 and +150. YTD, they have widened by 28 bps and 45 bps, respectively.
Conduit AA spreads were tighter by 15 bps at +205, while A spreads were tighter by 10 bps at +265. YTD, they have widened by 70 bps and 100 bps, respectively.
Conduit BBB- spreads tighter by 10 bps at +615. YTD, they have widened by 190 bps.
SASB AAA spreads were tighter by 10 bps to a range of +142 to +165, depending on property type. YTD, they have widened by 35 – 50 bps.
CRE CLO AAA and BBB- spreads were unchanged at +175 and +445, respectively.

Agency CMBS

Agency issuance totaled $2.3 billion last week, comprising $1.7 billion of Fannie DUS, a $276.6 million Freddie K transaction, and $331.9 million of Ginnie transactions.
Agency issuance for the year totaled $42.7 billion, 36% higher than the $31.3 billion for the same period last year.

The Economy, the Fed, and Rates…

Economic Data

Cooling but not collapsing. Forecasters have slashed April payroll expectations to ~125,000 (from 228,000 in March) as tariff angst dents hiring, yet the unemployment rate is still seen holding at 4.2% – a level awkwardly robust for anyone betting on near-term Fed cuts. “We expect hiring to moderate amid the uncertainty but be sufficient to keep the unemployment rate steady,” BNP Paribas notes.
Growth momentum has slipped into first gear. Q1 GDP growth stalled significantly, with forecasts showing the economy expanded at just a 0.4% annualized rate (compared to 2.4% in Q4 2024), the weakest pace in nearly three years. The trade deficit is expected to be the largest drag, as businesses front-loaded goods imports ahead of Trump's tariff surge.
Sentiment slumps, inflation fears pop. Consumer sentiment fell to 52.2 in April, the fourth-lowest level since the 1970s, with consumers anticipating inflation rising at 4.4% over the next 5-10 years (highest since 1991) and 6.5% over the next year. About 60% of respondents offered unsolicited comments about tariffs' negative impact.
Housing loses its spring. Existing home sales fell 5.9% in March to an annualized rate of 4.02 million, the weakest March since 2009, as high mortgage rates and prices constrained buyers. The median sales price increased 2.7% from a year ago to $403,700, a record for March.
Supply-chain red flags. Orders for business equipment barely rose in March (0.1% for core capital goods orders), suggesting companies grew cautious amid uncertainty about tariffs and tax policy. This moderation indicates businesses were becoming hesitant about investing ahead of Trump's April tariff announcements.
Labor market early warning lights. Initial jobless claims hover near 220,000, but Fed‐district surveys show companies shifting from “never fire” to “hiring freeze.” JOLTS openings steadied at 1.07 per unemployed worker – below the pre-COVID 1.2 norm – suggesting the heat is coming out of the market.

Federal Reserve Policy

Powell’s new nickname: ‘Mr. Too Late.’ The Chair is determined to prevent tariff-induced price bumps from morphing into a second inflation wave, preferring to be late with cuts rather than wrong with a premature pivot. “Our obligation is to keep longer-term inflation expectations well anchored,” he warned on April 16.
Doves with talons. Governor Chris Waller says he’ll tolerate tariff-driven CPI blips but would “expect more rate cuts, and sooner” if unemployment spikes; Cleveland’s Beth Hammack hints action could come as early as June – but only if the data “clearly” demand it. Translation: the bar for easing is higher than traders think.
Inflation-expectations jitters. Governor Adriana Kugler now describes long-run expectations as “largely” (not “well”) anchored, while Richmond’s Thomas Barkin says they “may have loosened.” Semantics matter: the Fed won’t cut until those anchors firm up again.
Consensus: sit tight in May. With mixed data and market volatility subsiding, the FOMC is poised to keep rates unchanged on May 7. Powell would rather risk a recession than rekindle 2022-style inflation – expect plenty of “data-dependent” caveats but no dove-call.

Treasury Yields & Market Structure

The “Sell America” trade. Money is pouring out of Wall Street and into overseas exchanges, leaving the MSCI USA down 11% year-to-date while its ex-US counterpart is up 4% – the largest performance gap since 1993. The dollar has shed 8% along the way, an unmistakable tell that foreign funds are not simply rotating sectors but abandoning the U.S. capital stack altogether. Deutsche Bank captures the mood: this is “a stagflationary repricing of U.S. assets,” a wholesale markdown that reflects slower growth, sticker-shock inflation, and an administration whose tariff roulette has pushed investors to seek refuge – and yield – elsewhere.
Steepening curve. The Treasury yield curve has steepened meaningfully: front-end yields are anchored by recession risk and easing expectations, while the long end faces “structural and political pressures.” The massive sell-off in the 30-year Treasury bond in early April was particularly alarming to investors as it "read as a signal that the long-term liabilities of the U.S. were suddenly suspect." The differential between the 2-year and 30-year yields at the beginning of the year was 54 bps, and, as of Friday last week, it was 95 bps.
Term-premium revival. As investors reprice the risk of U.S. capital, the term premium – extra yield investors demand for longer maturities – has climbed to the highest in over a decade, said Pictet Asset Management in a note. The asset manager calculates that the premium could rise at least another 25 bps from the current level as markets re-price political risk and ballooning deficits.
Leverage is the market’s frenemy. Leveraged “basis” and swap-spread trades – $800 billion-plus by some counts – have become indispensable shock absorbers for the $29 trillion Treasury market, yet their rapid unwind after the weak April 8 auction amplified the sell-off. Richard Berner, a finance professor at NYU and former director of the U.S. Treasury's Office of Financial Research, warned:

[these trades] provide liquidity in calm times, but disrupt it in tumultuous times… There are still vulnerabilities in our financial system, up to and including our sovereign debt markets. These vulnerabilities are typically exposed by shocks – and we just had another big one.

Please contact Raj Aidasani (raidasani@crefc.org) with any questions.

Contact

Raj Aidasani

Managing Director, Research

646.884.7566

The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.

Capital Markets Update Week of 4/29

April 29, 2025

Only one transaction priced last week.

News

CREFC's 1Q 2025 Sentiment Index Shows Steep Decline Amid Rising Tariff and Market Uncertainty

April 23, 2025

NEW YORK, April 23, 2025 – The CRE Finance Council (CREFC), the industry association representing the $6.2 trillion commercial and multifamily real estate finance sector, today released its First-Quarter 2025 (1Q25) Board of Governors (BOG) Sentiment Index survey results. Conducted from March 31 to April 7, 2025, the survey captured a dramatic shift in market sentiment that coincided with President Trump's "Liberation Day" tariff announcements on April 2.

The 1Q25 Sentiment Index fell 30.5% to 87.9 from 126.6 in 4Q24 – the second-largest drop on record and exceeded only by the onset of the pandemic in 1Q20. Specifically, the decline brings the index below the baseline of 100 for the first time since the pandemic era. The precipitous decline reflects growing concerns over economic uncertainty triggered in large part by recent trade policies that have led to heightened market volatility.

Key Highlights From 1Q25 Index Core Questions:

Economic Outlook: Sentiment turned sharply negative, with 80% expecting worse economic conditions over the next 12 months, up from just 12% last quarter; only 7% expect improvement (down from 42%).
Federal Policy: A decisive shift with 59% expecting negative impacts from government actions (up from 2% last quarter) and only 11% expecting positive impacts (down from 74%).
Rate Impact: Notably split sentiment with an equal 30% seeing positive and negative impacts, suggesting divided perspectives on whether potentially lower rates might offset other negative factors.
CRE Fundamentals: Sharp deterioration with 50% expecting worsening conditions (up from 12%) and only 17% expecting improvement (down from 65%).
Transaction Activity: Expectations moderated significantly with only 35% expecting increased demand (down from 86%) and 20% expecting less demand (up from 0%).
Financing Demand: While still positive overall, expectations dropped dramatically, with 48% expecting more demand (down from 91%) and 13% expecting less (up from 2%).
Market Liquidity: Considerably more pessimistic with only 15% expecting better conditions (down from 81%) and 26% expecting worse conditions (up from 0%).
Overall Sentiment: The industry outlook deteriorated sharply, with 43% now negative (up from 0%) and only 22% positive (down from 77%).

Additional Topical Insights:

The survey revealed that geopolitical tensions and trade disputes dominated risk concerns, with 59% of respondents including these factors among their top risks. For federal government lease terminations by the Department of Government Efficiency (DOGE), 67% expect moderate negative impacts on office sector performance. Additionally, 60% of post-Liberation Day respondents were either very or extremely concerned about tariff impacts on construction costs and CRE development. Among the bright spots, 80% of respondents expect CMBS issuance volumes to either hold steady or post a moderate decline despite market volatility, following a strong first quarter.

Lisa Pendergast, President and CEO of CREFC, commented: "The CRE finance industry finds itself at a genuine crossroads. The dramatic drop in our Sentiment Index clearly signals concern, but beneath the headline numbers we see pockets of cautious optimism, particularly regarding how lower interest rates might finally break the transaction logjam that has persisted through much of 2024. What makes this quarter's survey particularly revealing is the stark contrast to last quarter's record high sentiment, demonstrating how quickly market psychology can shift with changing economic policies."

For more information about the 1Q25 BOG Sentiment Index and the full survey results, please click here or contact Raj Aidasani at raidasani@crefc.org.

About CREFC and the Board of Governors Sentiment Index:

The CRE Finance Council (CREFC) is the trade association for the commercial real estate finance industry. More than 400 companies and 19,000 individuals are members of CREFC. CREFC's members play a critical role in the U.S. economy by financing office buildings, industrial properties, multifamily housing, retail facilities, hotels, and other types of commercial and multifamily real estate.

Over 50 senior executives in the commercial real estate finance markets represent CREFC's Board of Governors. These leaders come from every sector of the commercial real estate lending and mortgage-related debt investing markets, including balance sheet and securitized lenders, loan and bond investors, mortgage bankers, private equity firms, loan servicers, rating agencies, attorneys, accountants, and others.

CREFC's BOG Sentiment Index aims to gauge quarter-over-quarter shifts in market conditions for the CRE finance market. The survey, first administered in 2017, consists of nine core questions and additional topical questions. Responses to the core questions are equally weighted and summed to create a single index value.

Contact:
Aleksandrs Rozens
Senior Director, Communications
arozens@crefc.org
646-884-7567

Contact

Raj Aidasani

Managing Director, Research

646.884.7566

Aleksandrs Rozens
Senior Director,
Communications
646.884.7567
arozens@crefc.org

The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.

CREFC's 1Q 2025 Sentiment Index Shows Steep Decline Amid Rising Tariff and Market Uncertainty

April 23, 2025

The CRE Finance Council released its First-Quarter 2025 (1Q25) Board of Governors (BOG) Sentiment Index survey results.

News

CREFC's 1Q 2025 Sentiment Index Shows Steep Decline Amid Rising Tariff and Market Uncertainty

April 23, 2025

The CRE Finance Council (CREFC) today released its First-Quarter 2025 (1Q25) Board of Governors (BOG) Sentiment Index survey results. Conducted from March 31 to April 7, 2025, the survey captured a dramatic shift in market sentiment that coincided with President Trump's "Liberation Day" tariff announcements on April 2.

The 1Q25 Sentiment Index fell 30.5% to 87.9 from 126.6 in 4Q24 – the second-largest drop on record and exceeded only by the onset of the pandemic in 1Q20. Specifically, the decline brings the index below the baseline of 100 for the first time since the pandemic era. The precipitous decline reflects growing concerns over economic uncertainty triggered in large part by recent trade policies that have led to heightened market volatility.

Key Highlights From 1Q25 Index Core Questions:

Economic Outlook: Sentiment turned sharply negative, with 80% expecting worse economic conditions over the next 12 months, up from just 12% last quarter; only 7% expect improvement (down from 42%).
Federal Policy: A decisive shift with 59% expecting negative impacts from government actions (up from 2% last quarter) and only 11% expecting positive impacts (down from 74%).
Rate Impact: Notably split sentiment with an equal 30% seeing positive and negative impacts, suggesting divided perspectives on whether potentially lower rates might offset other negative factors.
CRE Fundamentals: Sharp deterioration with 50% expecting worsening conditions (up from 12%) and only 17% expecting improvement (down from 65%).
Transaction Activity: Expectations moderated significantly with only 35% expecting increased demand (down from 86%) and 20% expecting less demand (up from 0%).
Financing Demand: While still positive overall, expectations dropped dramatically, with 48% expecting more demand (down from 91%) and 13% expecting less (up from 2%).
Market Liquidity: Considerably more pessimistic with only 15% expecting better conditions (down from 81%) and 26% expecting worse conditions (up from 0%).
Overall Sentiment: The industry outlook deteriorated sharply, with 43% now negative (up from 0%) and only 22% positive (down from 77%).

Additional Topical Insights:

The survey revealed that geopolitical tensions and trade disputes dominated risk concerns, with 59% of respondents including these factors among their top risks. For federal government lease terminations by the Department of Government Efficiency (DOGE), 67% expect moderate negative impacts on office sector performance. Additionally, 60% of post-Liberation Day respondents were either very or extremely concerned about tariff impacts on construction costs and CRE development. Among the bright spots, 80% of respondents expect CMBS issuance volumes to either hold steady or post a moderate decline despite market volatility, following a strong first quarter.

Lisa Pendergast, President and CEO of CREFC, commented: "The CRE finance industry finds itself at a genuine crossroads. The dramatic drop in our Sentiment Index clearly signals concern, but beneath the headline numbers we see pockets of cautious optimism, particularly regarding how lower interest rates might finally break the transaction logjam that has persisted through much of 2024. What makes this quarter's survey particularly revealing is the stark contrast to last quarter's record high sentiment, demonstrating how quickly market psychology can shift with changing economic policies."

For more information about the 1Q25 BOG Sentiment Index and the full survey results, please click here or contact Raj Aidasani at raidasani@crefc.org.

About CREFC and the Board of Governors Sentiment Index:

The CRE Finance Council (CREFC) is the trade association for the commercial real estate finance industry. More than 400 companies and 19,000 individuals are members of CREFC. CREFC's members play a critical role in the U.S. economy by financing office buildings, industrial properties, multifamily housing, retail facilities, hotels, and other types of commercial and multifamily real estate.

Over 50 senior executives in the commercial real estate finance markets represent CREFC's Board of Governors. These leaders come from every sector of the commercial real estate lending and mortgage-related debt investing markets, including balance sheet and securitized lenders, loan and bond investors, mortgage bankers, private equity firms, loan servicers, rating agencies, attorneys, accountants, and others.

CREFC's BOG Sentiment Index aims to gauge quarter-over-quarter shifts in market conditions for the CRE finance market. The survey, first administered in 2017, consists of nine core questions and additional topical questions. Responses to the core questions are equally weighted and summed to create a single index value.

Contact

Raj Aidasani

Managing Director, Research

646.884.7566

The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.

CREFC's 1Q 2025 Sentiment Index Shows Steep Decline Amid Rising Tariff and Market Uncertainty

April 23, 2025

The CRE Finance Council (CREFC) today released its First-Quarter 2025 (1Q25) Board of Governors (BOG) Sentiment Index survey results.

News

CREFC Announces its Spring Symposium in New York

April 22, 2025

CREFC’s Women’s Network hosts its largest annual event

The CRE Finance Council (CREFC) will host its annual Spring Symposium on May 7 in New York City. Now in its ninth year, this event features an extensive program that is an important component of CREFC’s ongoing effort to elevate the visibility of women professionals in commercial real estate finance.

“As the commercial real estate finance industry’s trade association, we are thrilled to bring together remarkable senior women business leaders to share their insights about their career journeys,” said Lisa Pendergast, President and Chief Executive Officer, CREFC.

Hosted by CREFC’s Women’s Network, the Spring Symposium draws leading industry participants to the event and is open to all. The day starts with speed mentoring sessions that facilitate meetings between seasoned market participants and junior and mid-career professionals in small working groups where they share insights on advancing their careers, understanding industry trends, and overcoming challenges.

“Our Spring Symposium, the largest annual event for the Women’s Network, attracts leading commercial real estate finance professionals,” said Julia Powell, Chair of CREFC’s Women’s Network. “I look forward to hearing insights from this year’s keynote speaker and program panels as they share their insights on today’s CRE finance markets and what is driving transaction activity. This is just one of many Women’s Network initiatives that help business leaders keep up with today’s highly dynamic industry.”

Special Keynote Speaker: Col. Eileen Collins

This year, CREFC’s Spring Symposium features Col. Eileen Collins, the first female to pilot a U.S. spacecraft with the Discovery shuttle flight in 1995, and the first female commander on the 1999 Columbia shuttle flight. In 2005, the National Aeronautics and Space Administration (NASA) tapped Col. Collins to command the space shuttle Discovery’s historic “Return to Flight” mission, NASA’s first piloted flight following the loss of space shuttle Columbia in 2003.

Col. Collins logged 872 hours in space, and her memoir, Through the Glass Ceiling to the Stars, was published in 2021. In 2022, Col. Collins was awarded the National Aeronautic Association’s Wright Brothers Award for her inspirational career as an astronaut, teacher, and leader.

Ms. Pendergast added: "The Spring Symposium is part of CREFC’s mission to provide women professionals with opportunities to network and build their careers. In addition to learning about how industry participants manage market challenges and gaining other insights from CRE industry leaders, I look forward to hearing about Col. Collins’ experiences in space as a shuttle pilot with NASA and learning how her experiences give CREFC members important and usable insights on leadership, the personal qualities needed for professional success, and the importance of teamwork.”

Following speed mentoring, this year’s Spring Symposium offers panel sessions addressing timely topics and issues for CRE finance professionals, including:

The Dealmakers’ Perspective: Tackling Market Challenges & Closing Transactions
Reaching New Heights: Insights from Leaders in CRE

When: May 7, 2025

Where: Citi - 45 Hubert Street, New York, N.Y, 10013

Program

Registration

To learn more about CREFC’s upcoming conferences and events, please visit this page.

Contact

Aleksandrs Rozens
Senior Director,
Communications
646.884.7567
arozens@crefc.org

The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.

CREFC Announces its Spring Symposium in New York

April 22, 2025

The CRE Finance Council (CREFC) will host its annual Spring Symposium on May 7 in New York City.

News

CREFC Announces its Spring Symposium in New York

April 22, 2025

CREFC’s Women’s Network hosts its largest annual event

NEW YORK, April 22, 2025 – The CRE Finance Council (CREFC), the trade association that exclusively represents the nearly $6 trillion commercial and multifamily real estate finance industry, will host its annual Spring Symposium on May 7 in New York City. Now in its ninth year, this event features an extensive program that is an important component of CREFC’s ongoing effort to elevate the visibility of women professionals in commercial real estate finance.

“As the commercial real estate finance industry’s trade association, we are thrilled to bring together remarkable senior women business leaders to share their insights about their career journeys,” said Lisa Pendergast, President and Chief Executive Officer, CREFC.

Hosted by CREFC’s Women’s Network, the Spring Symposium draws leading industry participants to the event. The day starts with speed mentoring sessions that facilitate meetings between seasoned market participants and junior and mid-career professionals in small working groups where they share insights on advancing their careers, understanding industry trends, and overcoming challenges.

“Our Spring Symposium, the largest annual event for the Women’s Network, attracts leading commercial real estate finance professionals,” said Julia Powell, Chair of CREFC’s Women’s Network. “I look forward to hearing insights from this year’s keynote speaker and program panels as they share their insights on today’s CRE finance markets and what is driving transaction activity. This is just one of many Women’s Network initiatives that help business leaders keep up with today’s highly dynamic industry.”

Special Keynote Speaker: Col. Eileen Collins

This year, CREFC’s Spring Symposium features Col. Eileen Collins, the first female to pilot a U.S. spacecraft with the Discovery shuttle flight in 1995, and the first female commander on the 1999 Columbia shuttle flight. In 2005, the National Aeronautics and Space Administration (NASA) tapped Col. Collins to command the space shuttle Discovery’s historic “Return to Flight” mission, NASA’s first piloted flight following the loss of space shuttle Columbia in 2003.

Col. Collins logged 872 hours in space, and her memoir, Through the Glass Ceiling to the Stars, was published in 2021. In 2022, Col. Collins was awarded the National Aeronautic Association’s Wright Brothers Award for her inspirational career as an astronaut, teacher, and leader.

Ms. Pendergast added: “The Spring Symposium is part of CREFC’s mission to provide women professionals with opportunities to network and build their careers. In addition to learning about how industry participants manage market challenges and gaining other insights from CRE industry leaders, I look forward to hearing about Col. Collins’ experiences in space as a shuttle pilot with NASA and learning how her experiences give CREFC members important and usable insights on leadership, the personal qualities needed for professional success, and the importance of teamwork.”

Following speed mentoring, this year’s Spring Symposium offers panel sessions addressing timely topics and issues for CRE finance professionals, including:

The Dealmakers’ Perspective: Tackling Market Challenges & Closing Transactions
Reaching New Heights: Insights from Leaders in CRE

When: May 7, 2025

Where: Citi - 45 Hubert Street, New York, N.Y., 10013

Program

Registration

To learn more about CREFC’s upcoming conferences and events, please visit this page.

About CREFC
The CRE Finance Council (CREFC) is the trade association for the nearly $6 trillion commercial real estate finance industry with a membership that includes approximately 400 companies and 19,000 individuals. Member firms include balance sheet and securitized lenders, loan and bond investors, private equity firms, servicers, rating agencies, and borrowers. For more than 30 years, CREFC has promoted liquidity, transparency, and efficiency in the commercial real estate finance markets, and functioned as a legislative and regulatory advocate for the industry, playing a vital role in setting market standards and best practices and providing education for market participants.

Contact:
Aleksandrs Rozens
arozens@crefc.org
646-884-7567

Contact

Aleksandrs Rozens
Senior Director,
Communications
646.884.7567
arozens@crefc.org

The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.

CREFC Announces its Spring Symposium in New York

April 22, 2025

The CRE Finance Council will host its annual Spring Symposium on May 7 in New York City.