Peachtree's Greg Friedman: Office real estate distress

CoStar News - The Federal Reserve cut interest rates Thursday (10/23/25), as many expected, but Fed Chairman Jerome Powell warned that a December cut “is not a foregone conclusion.”

PERE Credit - According to market participants who spoke to PERE Credit, the Federal Reserve’s decision to cut interest rates by 25 basis points at its meeting this week is widely expected to accelerate transaction volume. The US central bank’s target rate is now between 4 and 4.25 per cent.

Greg Friedman joined the Schwab Network to discuss why commercial real estate is entering a “slow grind back” rather than a rapid post-GFC-style rebound. He notes that while elevated 10-year yields remain a headwind, a more predictable Fed and stable macro environment should set the stage for a stronger market in 2026 compared to 2025.