In today’s CRE360 Signal Daily Brief — Friday, September 26, 2025 — we cover the Fed’s rate cut and what it means for commercial real estate finance. CMBS issuance is back, with spreads tightening and coupons dropping to 6.5%, reopening refinancing windows. We also break down Milestone Group’s $1.1B multifamily fund targeting Sun Belt apartments, Starbucks’ $1B restructuring with store closures, and distress in NYC’s rent-stabilized housing sector.

🛠 CRE360 Take: Capital is flowing again, but discipline is still the rule. Smart operators will seize today’s debt window without forgetting the underwriting guardrails.

🔭 Outlook: Watch for further Fed cuts, more multifamily fundraising, and office rescue funds setting the floor for values.

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