Free each weekdayCommercial property news, cut to what an owner needs to know.
The Cornerhold Journal
Vol. I · No. 7Nationwide edition · Free
MarketsLatest, Nov 2
10-year Treasury4.91%down 0.03
SOFR3.95%up 0.01
30-year mortgage rate7.24%down 0.08
CMBS delinquency8.02%up 0.17
U.S. office vacancy18.2%down 0.1
Sources: U.S. Treasury, daily par yield curve rates, Nov 2 (10-year Treasury); Federal Reserve Bank of New York, SOFR, Oct 30 (SOFR); Freddie Mac, Primary Mortgage Market Survey, Oct 29 (30-year mortgage rate); Trepp, Sep 30 (CMBS delinquency); CBRE, Q3 2026 U.S. Office Market Report, Sep 30 (U.S. office vacancy)
Capital markets
Banks tightened credit and saw weaker demand on every kind of commercial property loan last quarter
The Fed survey shows the squeeze reaching the debt funds that usually pick up what banks pass on.
The Federal Reserve's October Senior Loan Officer Opinion Survey found that banks tightened their standards on construction and land loans, nonfarm nonresidential loans and multifamily loans in the third quarter.
The survey, drawn from 61 domestic banks and 18 U.S. branches of foreign banks, also found weaker demand in all three commercial real estate categories.
Banks also tightened standards on every type of loan to nonbank lenders, including private equity funds and business credit intermediaries. The American Bankers Association's Banking Journal reported the release on Nov. 2.
The upshot for borrowers: refinancings that banks pass on tend to move to debt funds, and the credit lines those funds rely on are getting tighter as well.
Sources: Federal Reserve Board, Senior Loan Officer Opinion Survey, Nov 2, 2026; ABA Banking Journal, Nov 2, 2026
Retail
Children's Place is preparing a bankruptcy filing that could end in a sale or a liquidation
Mall and strip center landlords could get a national chain's stores back going into 2027.
Children's Place, which also runs Gymboree, is preparing a Chapter 11 filing that could come as soon as next week, Bloomberg reported. No filing had been made as of the report.
According to the report, the retailer is weighing a bid from an investor group against offers from liquidators, and shareholders are expected to be wiped out. Its fiscal second quarter revenue fell 18.9% to $241.8 million, and comparable sales fell 16.7%.
A liquidation would hand a national chain's store leases back to mall and strip center landlords heading into 2027.
For ownersLandlords with a Children's Place or Gymboree store may want to review the lease's guaranty and co-tenancy terms with counsel now.
Industrial
Brookfield and CPP Investments close their $5.2 billion buyout of LXP Industrial
Big private capital takes 52 million square feet of warehouses off the public market.
Brookfield Asset Management and CPP Investments completed their all cash purchase of LXP Industrial Trust at $61.20 a share, about $5.2 billion, and the REIT has been delisted, the buyers announced.
The portfolio has 107 properties and roughly 52 million square feet, mostly newer bulk distribution buildings across the Midwest and Sun Belt. Bisnow reported it was 96.6% leased at an average in-place rent of about $5.28 a square foot.
It is one of the year's largest industrial platform deals, and it closes with national industrial vacancy near 6.8%.
For ownersOwners of bulk warehouses in the Midwest and Sun Belt now have two large private owners setting the pace for nearby rents and sales.
Sources: GlobeNewswire (Brookfield and CPP Investments), Nov 2, 2026; Bisnow, Nov 2, 2026; South Florida Business Journal, Nov 2, 2026