Jeff Erxleben talks with Commercial Observer about 2025 interest rates and CRE impacts

Northmarq's President of Debt + Equity Jeff Erxleben was included in a Commercial Observer feature story exploring the federal reserve's decisions in 2025 and it's impacts on commercial real estate. 

Below is an excerpt from that article featuring a quote from Erxleben:

The rate stability around the 10-year, and even the begrudging acceptance
among market players that Powell probably wouldn’t cut rates as much as he
promised in late 2024, has allowed the transaction market to breathe rather
than fight for air.

The overall U.S. investment sales market recorded 12,458 transactions
valued at $182.4 billion in total dollar volume in the first half of 2025, with the
entire year on track for a 1 percent decrease in sales and 6.6 percent
decrease in investment volume compared to last year, according to Avison
Young.

“Although there weren’t cuts that might have been anticipated, the reality is
there has been stability with the 10-year Treasury that has provided the
baseline foundation for transaction volumes to increase as the market
continues to push forward,” Jeffrey Erxleben, president of Northmarq’s debt
and equity platform.

Here is a link to the full article which requires a paid subscription.