The commercial real estate market is experiencing a fundamental shift. After years of dislocation, we're seeing signs of stabilization, but this recovery looks different from past cycles. In a recent Peachtree Point of View conversation, Peachtree Group CEO Greg Friedman spoke with Aaron Jodka, Director of Research for U.S. Capital Markets at Colliers. In this episode, Aaron offered valuable insights into where the market is heading and what it means for investors.
A Market in Rebalancing
Aaron describes the current environment as one of rebalancing rather than rapid recovery. "I feel that the state of the commercial real estate markets are in a state of rebalancing, where we're seeing improving signs of fundamentals across most asset classes," he explains. Unlike the post-financial crisis period, when aggressive Fed intervention created a V-shaped recovery, today's environment is characterized by measured growth without the same liquidity backstop.
This matters for investors who may be expecting quick value appreciation. "It shouldn't be a V shape," Aaron cautions. "I wouldn't expect that all of a sudden we're off 10%, 15% value growth in a short period of time. It's going to be a slow and steady climb because the environment and backdrop is different today than it was coming out of the global financial crisis."
The Private Credit Opportunity
For investors seeking current income and downside protection, private credit continues to offer compelling risk-adjusted returns. Aaron notes that private credit has been "one of the driving forces in commercial real estate for the last 15 years, if not longer," filling the void left by regulated banks pulling back from real estate lending.
The sustainability of private credit as an investment strategy is backed by structural advantages. Real estate-backed loans provide stability that corporate debt cannot match, with values that don't adjust overnight and assets that generate consistent cash flow. Insurance companies have significantly increased their allocations to private credit precisely because it aligns with their long-term liabilities and income requirements.
When asked about the relative attractiveness of debt versus equity, Aaron's response should interest investors evaluating their allocations: "I think we're still in a period where private credit is still on a risk reward benefit outweighing equity. But I think that pendulum is starting to swing where that equity investment is starting to look really attractive."
Sector-Specific Opportunities
Not all commercial real estate sectors are positioned equally. Aaron identifies retail properties as particularly compelling: "I really like retail at the moment. We're not building very much across this country." Limited new supply combined with retailers adapting to omnichannel strategies creates favorable supply-demand dynamics.
He also sees generational opportunities in select office assets, despite negative headlines. "True main and main locations, trophy assets are doing very well," he notes, though location and basis are critical factors. Industrial and multifamily fundamentals remain sound long-term, with supply concerns diminishing. In hospitality, the lack of new construction paired with demand from affluent consumers creates attractive entry points for experienced operators.
Key Takeaways
Investors who understand market fundamentals, maintain flexibility in their capital deployment and partner with experienced operators will be best positioned to capitalize on emerging opportunities.
Listen to the full conversation on the Peachtree Point of View podcast to hear more insights from Aaron Jodka on commercial real estate market dynamics, the 10-year treasury outlook and what data points matter most heading into 2026.
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ATLANTA (Oct. 13, 2025) – Peachtree Group (“Peachtree”) announced today the launch of a new equipment finance division, further broadening its credit platform and reinforcing its ability to provide flexible equipment lease financing across industries, including commercial real estate and hospitality.
The division will be led by seasoned executives Brian Shaughnessy and Roger Johnson, who together bring more than 60 years of experience in equipment finance, specialty finance and portfolio acquisitions. They will be joined by experienced industry executive Dennis Shields, further strengthening the team’s depth and expertise. Shields spent the last 15 years with Meridian Leasing, helping to grow its profitable leasing business.
“This launch is more than the start of a new business line. It continues relationships that span more than 15 years,” said Greg Friedman, Peachtree’s managing principal and CEO. “We have known and worked alongside Brian and Roger for well over a decade, watching them build reputations as trusted leaders in equipment finance. Their arrival marks both a reunion and a natural extension of our long-standing ties.”
This new platform represents a progression of Peachtree’s established private credit ecosystem. Many of the firm’s commercial real estate clients also require equipment financing, particularly in hospitality, where Furniture, Fixtures,and Equipment (FF&E) play a critical role in new developments. By building on the firm’s long-standing history and applying proven expertise from its principals’ experience financing essential use equipment, Peachtree is positioned to deliver tailored financing solutions that address client needs across multiple sectors and industries.
The launch highlights Peachtree’s ability to adapt its platform to fill gaps left by traditional lenders while keeping long-term client relationships at the center of its strategy.
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“Large banks continue to pull back from serving small and mid-sized businesses, leaving a significant void in the market,” Friedman said. “Our new platform allows us to step in with creative financing solutions, whether that means helping medical facilities upgrade technology or supporting hotels with FF&E for new developments, so businesses can access the capital they need to grow.”
Shaughnessy, who joins as president and principal of the equipment finance division, is a senior executive with more than 35 years of experience in financial services and investment banking. He was most recently co-founder and CEO of IMT Commercial, an alternative portfolio and asset acquisition and management firm.
Johnson, who will serve as executive vice president and principal, is a 30-year portfolio acquisitions and commercial lending veteran. He has a proven track record of developing profitable relationships with C-suite decision-makers at a wide range of financial institutions. Both Shaughnessy and Johnson founded and grew IMT Commercial Credit into a top 120 equipment finance business.
The new unit will initially focus on financing lease transactions ranging from $500,000 to $10 million with terms generally between 24 and 84 months. By leveraging Peachtree’s established credit expertise, infrastructure and balance sheet strength, the division aims to deliver competitive financing options while ensuring timely funding and long-term client relationships.
“Equipment finance requires a deep understanding of the assets, from valuation to structuring and exit strategies,” said Shaughnessy. “Our team brings decades of specialized knowledge that allows us to evaluate risk effectively and deliver certainty of execution for clients.”
Johnson added,“Leasing involves extensive coordination with clients, vendors and lenders, and our goal is to make the process seamless. Clients can count on us not only to secure financing but also to manage the details that keep projects moving forward.”
“Equipment finance is a relationship-driven business where execution matters,” Shields, senior vice president, said. “Our goal is to combine decades of industry expertise with Peachtree’s deep credit platform to offer reliable, creative solutions to clients who are often underserved in today’s lending environment.”
ATLANTA (September 2, 2025) - Peachtree Group ("Peachtree"), a leading commercial real estate investment firm overseeing a diversified portfolio of more than $8 billion, has been named to two prestigious growth rankings, underscoring the firm’s momentum as a leading force in commercial real estate investment.
Inc. revealed that Peachtree Group earned a place on the 2025 Inc. 5000 list of the fastest-growing private companies in the U.S., marking the third consecutive year the firm has been honored. The Inc. 5000 list provides a data-driven look at the most successful independent and entrepreneurial businesses across the nation.
In addition, the Atlanta Business Chronicle recognized Peachtree Group asan honoree in its 30th annual Pacesetter Awards, which celebrate the fastest-growing privately held companies based in metro Atlanta. Honorees were evaluated on revenue and employee growth from 2022 through 2024 and ranked using a growth index formula to ensure fair comparison across companies of varying sizes.
“We are in the business of identifying and capitalizing on mispriced risk, and in today’s environment of disruption and dislocation, that has created strong tailwinds for our growth,” said Greg Friedman, Peachtree’s managing principal and CEO. “These recognitions validate our ability to execute in complex markets, and we see significant opportunity ahead as we continue to scale our platform. We believe the next several years will be among the most compelling investment environments in recent history.”
Peachtree Group remains focused on delivering innovative investment strategies and strong results for its stakeholders while expanding its presence across the U.S.
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