366. 2025 Issuance Tops $120B, Fannie/Freddie Lending Caps, NYC–Cincinnati Office Pricing Gaps, Market Trends & More

In this week’s episode of The TreppWire Podcast, we examine the state of the commercial real estate (CRE) market and how macroeconomic factors are shaping property sectors, from multifamily to single-family housing. We cover the FHFA’s new 2026 caps for Fannie and Freddie, inflation’s impact on consumer spending, and millennial living trends. We also highlight private-label CMBS issuance topping $120 billion in 2025, pointing to strong momentum for the first half of 2026.

In property type stories, we share notable multifamily and retail transactions, highlighting how price differences are driven by location and asset quality. For office, we discuss Scholastic selling its NYC headquarters, Capstone’s purchase of 205 West 38th Street, and Real Capital Solutions acquiring First Financial Center in Cincinnati for $59 million, or $106.57 per square foot, comparing that to recent NYC deals with prices nearing $974 per square foot. Tune in now.

Episode notes:

• Economic Update (2:03)
• Inflation Impact on Consumer Spending (4:27)
• Single-Family Housing Market Challenges (14:40)
• FHFA Sets 2026 Caps for Freddie and Fannie (18:44)
• CMBS Issuance Update (21:43)
• Millennial Living Trends Impact Housing (26:04)
• Property Type Stories: Multifamily & Retail (30:15)
• NYC–Cincinnati Office Pricing (37:49)
• Programming Notes (43:43)
• Shoutouts (45:48)

Questions or comments? Contact us at podcast@trepp.com.

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