Chicago just printed one of its biggest multifamily trades since rates rose, foreign capital is doubling down on Midwest logistics, and selective tech leasing is keeping Manhattan’s trophy towers afloat. Meanwhile, luxury hotels continue to outperform even as broader RevPAR stalls, and Sunbelt multifamily just landed $1.1B in fresh equity.

In today’s 3-minute brief:

• Chicago Multifamily: $89.5M Fulton Market sale signals cap-rate stability.
• Industrial: Mapletree’s Joliet build lands as U.S. completions plunge 45% YoY.
• Hospitality: Luxury hotels hold +4% weekday growth while economy flags slump.
• Capital Flows: Milestone raises $1.1B for Sunbelt apartments amid $2T debt wall.
• Office: Salesforce expands NYC footprint, reinforcing Class A resilience.

🔑 Takeaway: Quality demand still clears — whether in prime multifamily, industrial, or Class A offices — but weaker segments remain exposed.