The Weekly Take from CBRE

More debt capital is available for commercial real estate investment. CBRE Investment Management’s Ty Gerschick and CBRE’s Tom Burns break down what’s happening across today’s debt markets, how borrowers can navigate a more competitive lending landscape and what capital availability means for real estate investment across property types and investment strategies.

· The return of banks—particularly regional banks—has expanded financing options and increased competition across the financing landscape.
· Higher‑for‑longer interest rates are shifting investor focus toward operational performance and sustainable cash flow rather than exit‑driven returns.
· Lenders are underwriting selectively, with scrutiny of debt coverage, leverage, and asset fundamentals.
· Capital is flowing back into debt funds, CMBS and preferred equity, though competition remains intense.

Retail real estate has emerged as an increasingly attractive asset class. LBX Investment’s Phil Block and CBRE’s Chris DeCouflé discuss the strategies driving today's returns and where the smart money is headed.

* Operational intensity is unlocking significant value.
* Adding multifamily or event spaces to traditional retail can enhance investment returns.
* Mispriced risk in retail presents opportunities for value-add and core strategies.
* Incorporating grocers strategically can boost open-air center value.
* Technology and data are crucial for underwriting retail real estate investments.

How did the largest office-to-residential conversion come about? Brian Steinwurtzel of GFP Real Estate offers an inside look at how lower Manhattan’s 25 Water Street, a struggling office tower that was transformed into more than 1,300 apartments. He discusses what this landmark project signals for urban resilience.

· The right acquisition price and bold design and amenity choices can turn challenged office assets into world‑class residential properties.
· Tax incentives can often be the deciding factor in whether a conversion is viable.
· Fast execution is essential for controlling risks and costs in today’s market.
· Office-to-residential conversions are highly bespoke, where building bones matter more than any rule-of-thumb formula.
· Great residential conversions are redefining downtowns, but their future hinges on policy, pricing and how the next market cycle unfolds.

Two of the parking industry’s most influential leaders— LAZ Parking’s Alan Lazowski and Parkway Corporation’s Rob Zuritzky—explore parking’s role as critical infrastructure, a cash-flow-generating asset and a platform for EVs, autonomous vehicles and urban mobility innovation.

* Parking is vital urban infrastructure, supporting economic growth.
* Technology, like EV charging, revolutionizes parking operations.
* Parking assets can deliver stable cash flow and attractive investment returns.
* Parking structures of the future will become essential urban mobility hubs.

On this episode, we feature a wide-ranging discussion with Henry Chin, CBRE’s Global Head of Research—recorded at CBRE’s annual Capital Markets Symposium—where we explore global capital flows, the forces shaping investment strategies and why 2026 may be a compelling vintage for real estate investment.

* 2026 offers prime investment opportunities in U.S. real estate.
* Income growth, not cap rates, will drive future real estate returns.
* Value-add industrial assets with access to power are positioned for strong returns.
* Amenity-rich, well-located office space should continue to outperform.
* Rekindled global capital inflows could boost U.S. real estate transaction volume.