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2025 By the Numbers

It is once again that most joyous time of year where we step back to take time with our families, reflect on the accomplishments of the year that has passed and we, the authors, have the pleasure of writing another “By the Numbers” article. This year we saw the impact of tariffs, attempted and actual assassinations, hostage releases, space rescues, a Chicago Pope, airplane crashes, wildfires, wild swings in the market, a government shutdown, deportations, protests, and the ever-evolving world of artificial intelligence that made 2025 one for the books.  Here are some numbers that help to tell that story: $18.81 Trillion – Dollars invested in ETFs globally. Assets have increased 26.7% year-to-date.1 $878 Billion – Dollar value of Elon Musk’s pay package at Tesla, approved by shareholders in November.  In order for Musk to realize the full amount, Tesla market capitalization must rise in value from $1.5 trillion to...

07.05.2023
The Commercial Real Estate Landscape – Navigating Today’s Crosscurrents

The Commercial Real Estate Landscape – Navigating Today’s Crosscurrents

For more than three years, the United States economy has been working through a massive set of disruptions related to the COVID pandemic, the subsequent policy responses, and the second-order effects of those responses including a spike in inflation, interest rate volatility, evolving living and working patterns, and accelerating technological innovation. These disruptions have touched nearly all aspects of our daily lives with significant reverberations throughout the real estate industry. Real estate is inherently cyclical and highly dependent on capital markets and debt for liquidity. Commercial real estate in particular has seen tremendous impacts from these recent disruptive forces. Transaction volume initially dropped and subsequently skyrocketed during the pandemic as stimulus and historically low interest rates drove investors into any assets offering positive yields. As a result, valuations increased as investors drove pricing higher in auction processes. Rents, particularly in the apartment and industrial sectors, increased substantially due to strong...