Commercial real estate lending spreads have tightened across every major property type since mid-2025, but the pace and magnitude of compression vary dramatically by sector, and the gap between winners and laggards remains wide.
Multifamily continues to lead with the tightest spreads in the market at 152 basis points over Treasuries, down 14 bps from the 166 bps level recorded in May 2025.
Source: Cred iQ
Multifamily Market News 