Investing in privately held, floating rate corporate loans can be a practical way to help outpace inflation while gaining access to quarterly, recurring fixed income streams. U.S. middle market corporate lending—commonly referred to as Private Credit—represents, in our opinion, one of the most compelling areas for fixed income investors today. 

Constrained supply and necessity-driven demand are driving rent resilience and renewed institutional investment in retail real estate.

As we look ahead to 2026, we believe the U.S. economy is continuing to experience a period of significant transition with monetary policy, fiscal priorities, and capital markets all shifting at once. For commercial real estate lenders and developers, these changes will reshape the cost of capital, underwriting standards, and the pace of new construction.

2025 Multifamily Market Recap Heading into 2025, the multifamily market was expected to normalize, but as we enter 2026, the U.S. multifamily sector remains defined by oversupply and muted rental growth. While 2025 did see measurable progress — evidenced by strengthening absorption, stabilizing occupancy, and a slowing construction pipeline — the pace fell short of expectations, with elevated supply and persistent pressures weighing on fundamentals.