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interest rates
The latest 75-basis-point installment has brought a further pause on less-than-great deals.
'There's a reset in the real estate markets,' says Lee Menifee, head of Americas.
US central bank still expects 3.25-3.5% range by 2022’s end.
The advisory sees a situation in which interest rates and cap rates are moving together.
Amid lingering uncertainty, the manager analyzes historic rates in an attempt to predict what is to come.
The near-term impact of higher rates is already being felt in the US CMBS market.
New MSCI research published this week looks at income exposure across sectors and tenant types.