February 24, 2025

There is a positive outlook for office lending this year with meaningful market improvements and increased liquidity. CMBS lenders are back and targeting office assets that are performing well in strong markets. Banks will slowly and selectively re-enter the space in 2025 with building sales, refinancings and loan sales removing office loans from their balance sheets. Life companies will have some appetite for newer quality office product at a lower leverage. There will be a flight-to-quality trend that should persist for well-occupied properties. More