State of Lending Part 1: Why Capital Is Chasing Too Few Deals with Adam Powadiuk and Aaron Cameron

Welcome to the CRE podcast. 100% Canadian, 100% commercial real estate. What if the global geopolitical churn is actually creating opportunities to realign your portfolio? In part one of a two-part hosts-only episode of the Commercial Real Estate Podcast, powered by First National, Aaron Cameron and Adam Powadiuk discuss the current state of lending in CRE. They discuss why Canada’s commercial real estate lending market is awash with capital, but far fewer deals are getting done. Adam and Aaron unpack the forces reshaping financing across the country, from historically tight lending spreads to the ripple effects of the condo construction slowdown.  They explain why conventional apartment construction financing has largely disappeared, how recent CMHC policy changes have altered developers’ financing strategies, and why certainty is becoming more valuable than pricing alone. The conversation also explores the widening gap in credit pricing across asset classes, the surprising recovery in office financing, and the continued struggles facing land development. Whether you’re borrowing, lending, or investing, this episode provides a timely snapshot of Canada’s rapidly evolving commercial lending landscape.  **What You Will Learn:** - Why a surplus of capital is collapsing spreads to historic lows - How the death of condo construction is flooding alternative lending markets - The critical exit risk that’s keeping conventional construction financing out of apartments - How CMHC’s rental achievement policy change eliminated an entire financing alternative - The steep credit curve that makes risk pricing unpredictable for non-AAA assets - Why office is staging a comeback while land continues to deteriorate   The post State of Lending Part 1: Why Capital Is Chasing Too Few Deals with Adam Powadiuk and Aaron Cameron appeared first on Commercial Real Estate Podcast.