There’s an old saying in real estate: markets move on confidence. If that’s the case, May just rang the alarm bells.According to the University of Michigan’s preliminary numbers,...

By Daniel KaufmanMay 12, 2025If you’re a developer or investor managing leverage, watching inflation, or planning your next raise—yesterday brought news that could ripple across...

It’s hard to overstate how volatile this year has been for capital markets—and for those of us navigating development, dealmaking, or capital raising in commercial real estate,...

The Week in Review – May 2025Before the headlines turned to Vatican smoke signals and Bitcoin’s victory lap, a new U.S.–UK “trade deal” made its debut from the Oval. I use that...

There was a time when Wall Street’s biggest risk factor was something tangible—oil prices, war, a Lehman moment. But this week, the markets got spooked not by a natural disaster...

The big money is moving quietly, but deliberately.Family offices—those private entities managing the capital of ultra-wealthy families—are ramping up their exposure to commercial...

Yesterday, I spent the day at the Milken Institute Global Conference in Los Angeles — the annual collision of finance, tech, and policy that turns the Beverly Hilton into ground...

By Daniel KaufmanIn an industry obsessed with next quarters and next exits, the most powerful thing you can do is play the long game. Warren Buffett did that better than...

While we were all busy doom-scrolling articles about AI becoming sentient and enslaving humanity, it turns out the more pressing issue is… AI being too nice?OpenAI just rolled...