Summer's over, but CRE never took a vacation, and the activity patterns tell a compelling story. While South Florida continues its hot streak with condo developments and hotel construction financing, the real surprise is Manhattan office sales roaring back to life with deals like Norges Bank's $542.6 million acquisition and Blackstone's $100 million preferred equity play. Midtown South has staged a remarkable comeback from its COVID doldrums, with vacancies that hit a miserable 16.9 percent just two years ago now seeing marquee leases and rents above 2019 levels. It's a tale of two markets: Sun Belt growth stories everyone expected, and a Manhattan office recovery that's catching many by surprise.

Former Fed official David Andolfatto is making waves arguing that stablecoins pose lower systemic risks than traditional bank runs.  While Treasury Secretary Scott Bessent pushes stablecoin regulations to boost demand for Treasury bonds, Andolfatto thinks the impact won't be as substantial as expected since major players like Tether already hold over 70% reserves in cash and short-term Treasuries. The regulatory push comes as the U.S. chooses a private-sector digital currency model while other countries explore central bank approaches. For CRE investors watching interest rate policy, this Fed insider's dovish stance on financial innovation could signal more accommodative monetary policy ahead (potentially keeping borrowing costs favorable for real estate deals).

The Fed's first big move of 2025 could finally be here after five straight rate holds, and CRE investors should brace for impact. With a cut widely expected next week, the announcement will also reveal where officials see rates heading for the rest of the year (critical intel for anyone timing acquisitions or refinancing decisions). Lower rates would mean cheaper debt for real estate deals, but they also signal savings and CD rates will start tumbling, pushing more institutional capital toward yield-hungry real estate investments. For CRE investors, this could be the inflection point that unleashes pent-up transaction volume and drives cap rate compression across prime assets.

The Bears just confirmed their $5 billion Arlington Heights stadium play is moving full steam ahead. The team's planning a 65,000-seat domed stadium plus mixed-use district on that 326-acre former racecourse site they scooped up for $197 million in 2023, with construction alone pegged at $2 billion and the full development hitting $5 billion. The project promises 56,000 construction jobs and could break ground as soon as late 2025 if Springfield approves their "mega-project" bill for infrastructure support. It's another data point showing how major sports franchises are driving massive suburban mixed-use developments and reshaping entire markets in the process.

Many investors will treat brokers like commission-hungry middlemen. 

But one conversation with a successful operator (who's built partnerships across multiple states) taught me there's a completely different way to think about this.

He broke it down into what he calls the "Four-Value Framework" for small bay commercial deals. 

Each value represents a different way your broker can contribute (and get rewarded) beyond just commission.

For deal sourcing and opportunity, there's the standard commission route. But when you have brokers who are relentlessly chasing deals for you and consistently delivering, consider offering them equity in the deal instead of traditional commission.

Some brokers bring construction management expertise to handle heavy renovations or build-outs as a general contractor or project manager. If they can truly drive construction, save on costs, and speed up timelines, this expertise might justify a GC fee—or even bringing them into the deal as a partner.

For leasing up your property, think beyond standard leasing commissions. If you can build a relationship with the best leasing broker in town—someone with deep connections to top-tier national tenants who can turn your dark, cash-bleeding space into an immediate income producer—that's when you consider offering them equity instead of standard fees.

Here's what most people don't realize: some brokers have deeper capital relationships than you do. If your broker has direct access to debt sources and can bring equity partners to the table, stop thinking commission—start thinking partnership

Are you getting the idea?

Instead of seeing brokers as one-dimensional deal-finders, you're evaluating which of these four values they can provide. 

Stop thinking about brokers as expensive necessities. Start thinking about them as potential partners who can contribute to multiple aspects of your deal's success. 

The right broker partnership can be the difference between marginal returns and exceptional ones.