Why Retail Is Shining and Office Is Thawing

Rising competition is driving pricing for both.

Every week I talk with owners of retail and office properties who assume the debt markets have written them off. The headlines have spent years telling them so. Right now, that assumption is wrong for retail and only half right for office, and knowing the difference is worth real money at maturity.

Over the last 12 to 18 months, my team has closed approximately $150 million across six retail financings and approximately $100 million in office transactions. The two asset classes tell very different stories.

Retail: Lenders competing hard...

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RSK: Retail is still the shinning star but office is slowly coming around.