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Watch for a robust bridge lending market this year, as many lenders increase their 2026 origination volumes. Borrowers will see plenty of available bridge capital going forward, especially in the lease-up space for newly built assets. Capital and sponsors alike seem to think transaction velocity — particularly acquisitions — may see a resurgence in 2026, especially during the second half of the year. This may open the floodgates to increased bridge lending activity for deals that are transitional. More

The appetite for mezz loans will increase this year and anticipate large private credit platforms, insurance company affiliates and established real estate debt funds to be active. These groups are well capitalized and focused on institutional transactions where structure and intercreditor protections are clearly defined. Look for many bridge lenders to step into that gap to provide competitive full-stack solutions. More

Keep an eye out for an increase in hotel financing this year. There is a huge amount of CMBS loans coming due, which will force everyone who has been kicking the can down the road to look for new capital. CMBS lenders and debt fund/private money lenders will be more active than ever. More

Anticipate 2026 to be a strong rebound year for multifamily construction lending. Lender appetite will pick up and with SOFR ticking down, more deals should pencil this year. New capital will be coming into the space, along with current lenders adding new construction programs. Spreads will tighten and lenders will be more aggressive to win business. Most of the current supply wave will have been delivered, new starts are already down, and lenders are becoming more comfortable financing projects as rent growth and absorption normalize. More