FICC Focus FICC Focus: Newmark’s Hinton on US Commercial Real-Estate Outlook
Oct 31, 2025
Jimmy Hinton, Chief Revenue Officer at Newmark Group, shares insights into the U.S. commercial real estate landscape. He discusses the improving investor sentiment driven by stabilizing cash flows and market liquidity. Hinton contrasts public and private market sentiments, highlighting the multifamily sector's unexpected corrections. He emphasizes resilient sectors like multifamily and data centers while warning about areas under stress. The conversation also touches on insurance risks and the cautious re-entry of pension funds into the market.
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Rate Cuts Largely Priced In
- Market participants had already priced expected Fed rate cuts, so the immediate reaction was muted.
- Jimmy Hinton says investors remain unusually disciplined and are not moving thresholds basis point for basis point with the Fed.
Public Markets Move Faster Than Private
- Public equity REITs have rebounded faster than private-market valuations.
- Hinton notes private markets lag and multifamily corrections still trail public markets.
Maturity Wall Is Being Extended
- Roughly $180 billion of CRE debt is past maturity but being extended by incumbent lenders.
- Hinton says extensions keep dry powder sidelined and delay opportunistic transaction flow.