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February 9, 2026
The CRE Finance Council announces the fifth update of its Sustainability Trends in the Commercial Real Estate Finance Industry: Update Report, February 2026, which outlines sustainability-related risks and opportunities for the commercial real estate (CRE) sector.
The report examines 14 topics related to property risk and resilience:
CREFC's Property Risk & Resilience (PRR) Committee continues to recognize the need for a reliable monitoring system to help industry partners navigate the complicated U.S. sustainability landscape.
What's next: CREFC’s PRR Committee will continue to identify and evaluate risks and opportunities to CRE as the U.S. sustainability landscape evolves, including changes in regulation, policy, and technology.
Please contact Sairah Burki (sburki@crefc.org) with comments.
News Archive
February 3, 2026
The New York City Council failed to override former Mayor Eric Adam’s veto of the Community Opportunity to Purchase Act (COPA), which effectively stops the legislation for the time being. The bill passed in December on a 31-10 vote and is supported by current Mayor Zohran Mamdani, which means the bill will likely be reintroduced this year.
Why it matters: As originally drafted, COPA Int 0902-2024 would have applied an additional waiting period and processes to every multifamily building sale in the city. The bill saw several updates that narrowed the scope to distressed buildings and reduced the overall timeframe.
What they’re saying: The new Council Speaker, Julie Menin, declined to bring the measure for an override as it did not pass with the required supermajority. Menin had abstained from voting in December and has declined to indicate her support, even amid public pressure from Mamdani to schedule an override vote.
The bill’s author, Council member Sandy Nurse, reiterated her commitment to the effort in a statement to the Gothamist:
Yes, but: According to Politico, the mayor’s law department raised concerns to lawmakers that COPA could “unlawfully restrict a property owner’s commercial speech rights to engage with the market” and be subject to legal challenges “due to a constitutional prohibition against placing certain restrictions on private property usage.”
The bottom line: Expect the City Council to act on the bill again this year amid fierce support from advocates and criticism from the opposition. Even with a narrowed scope and timeframe, COPA—if passed—will likely be subject to legal challenges.
Contact David McCarthy (dmccarthy@crefc.org) with questions.
There are competitive primaries all across the country that will shape the midterms on both sides of the aisle. Below, we detail the most consequential primaries to the battle for the Senate and the dates of the contests.
Georgia (Democratic Incumbent): May, 19, 2026
Michigan (Open Democratic Seat): August 4, 2026
Maine (Republican Incumbent): June 9, 2026
Texas (Republican Incumbent): March 3, 2026
What’s next: As these states pick their nominees, they will shape their races and influence where each party plans to spend their money and resources. The candidates nominated to each of these races will be crucial to their parties success or failure this fall.
Contact James Montfort (jmontfort@crefc.org) with any questions.
The mission of the Young Professionals (YP) Network is to provide a platform for junior CRE finance professionals to foster meaningful business relationships and gain relevant industry knowledge through networking events, seminars and panels.
YP programming events are developed by YPs – so the content is current and applicable in their daily work. Each YP educational event includes a networking aspect to build and foster industry relationships with both peers and seasoned industry leaders. YPs are surveyed by region for ideas for future programming to ensure educational and industry needs are met.
Additionally, there are networking only events held in a more relaxed atmosphere where YPs can mingle among their peers.
There is a discounted rate to conferences and seminars for those CREFC Members 30 years of age or younger. To sign up for the 30 and Under Program Rate join the network and ensure that you check off the box “I would like to sign up to receive the “30 and Under Program Rate”. You will be required to submit photo ID to be approved for the discounted program rate. Sign up TodayCREFC members Only
Take your career to the next level with our programming, mentoring, career planning, and continuing education. Sign up
The CRE Finance Council holds two premier conferences each year in the United States: the January Conference in Miami and the June Annual Conference in New York. Conference programming addresses the most relevant topics facing the industry, presented by recognized finance leaders.
Complementing these major conferences are After-Work Seminars, Young Professional, Women's Network, and Educational events held regularly throughout the calendar year, each of which is tailored to fit the constituencies served by CREFC.
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CREFC’s Government Relations team serves as the primary interface between the CRE Finance industry and policymakers. Through a collaborative process with our members, CREFC engages with legislators, regulators, and other policy stakeholders to advocate for policies that promote the interests of our membership and the broader industry.
View CREFC's Advocacy resources below, and get involved today!
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NCREIF and CREFC announce the launch of the NCREIF/CREFC Fund Index Open-end Moderate-Yield Debt, the first-ever institutional fund-level benchmark for private real estate debt funds. As of June 30, 2025, the Index comprises 12 open-end debt funds representing more than $30 billion in assets and over 500 underlying loans with posted returns since the fourth-quarter 2017, providing a robust, representative measure of performance for the sector.
Developed jointly by the National Council of Real Estate Investment Fiduciaries and the CRE Finance Council, the Moderate- Yield Debt Index fills a long-standing market need for a standardized, transparent benchmark that reflects the risk-return characteristics of actively managed open-end commercial real estate debt strategies.
Consultation Phase. The Moderate-Yield Debt Index will be issued in a consultation phase for one to two years to solicit the appropriate level of feedback from industry professionals and ensure the index’s methodology and governance align with market expectations. During this period NCREIF and CREFC will engage stakeholders on methodology refinements, data standards, and reporting practices. After the initial consultation, if appropriate, the NCREIF/CREFC Fund Index Open-end Moderate-Yield Debt will be memorialized as an official NCREIF/CREFC product.
CREFC has teamed up with NCREIF to produce and promote the NCREIF/CREFC Open-end Debt Fund Aggregate (the “Debt Aggregate”). In short, this product will deliver a fund-level compilation of open-end debt funds providing financing to commercial and multifamily real estate borrowers/owners. The Debt Aggregate will be issued in a draft “consultation” format for at least one year, which allows time for industry feedback before it is rolled out as an official product.
Overview of Debt Fund Index (presentation slides from CREFC's September 28, 2023 Capital Markets Conference)
Watch the Video (video replay from CREFC's September 28, 2023 Capital Markets Conference)
For questions or to get involved, contact Lisa Pendergast
The affairs of CRE Finance Council are managed by a Board of Governors, selected from the general membership, which meets at least two times a year. During the periods the Board is not convened, the Executive Committee has full authority to transact all CRE Finance Council business. The Executive Committee is made up of the chair, chair-elect, vice chair, secretary, treasurer, membership chair, administrative executive, as well as four additional Executive Committee members. View the CREFC By-Laws.
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