Commercial Real Estate

Technical guides to commercial real estate lending, valuation, leasing, and licensing, written for the brokers, underwriters, and analysts who work the deals.

8 articles

Market Cycles & RatesUniversal

Commercial real estate market cycles and interest rates

Commercial real estate market cycles explained: the four phases, what interest rates do to value and loans, where lending stands in 2026 and how to find deals.

CRE Loan Products & MechanicsUniversal

Commercial real estate lending: loan types, underwriting and rates

Commercial real estate lending explained: how the loans work, how lenders size them with LTV, DSCR and debt yield, what sets the rate and how to qualify.

Investing & OwnershipUniversal

Commercial real estate investing: how to buy, own and sell

Commercial real estate investing explained: the ways to invest, what a loan does to your return, how to buy and sell a building, and US and Canadian tax rules.

Leasing & Lease StructuresUniversal

Commercial real estate leasing: lease types, rent and key terms

Commercial real estate leasing explained: gross, modified gross and NNN leases, how rent and CAM are calculated, rent increases, and what lenders check.

Brokers & RepresentationUniversal

Commercial real estate brokerage, representation and pay

How commercial real estate brokerage works: who a broker represents, who pays the commission, the dual agency rules in Texas, Ontario and Quebec, and GSA data.

Careers, Licensing & EntryUniversal

Commercial real estate careers and licensing

Commercial real estate careers span brokerage, appraisal, lending and property management. See the licence each needs, the May 2025 pay and how Quebec differs.

Valuation & AppraisalUniversal

Commercial real estate valuation: methods, cap rates and appraisals

Commercial real estate valuation uses three approaches, and cap rates drive most of the answer. See one building valued three ways and when an appraisal is due.

CRE Fundamentals & GlossaryUniversal

What is commercial real estate?

Commercial real estate is property valued on the income it produces. See the unit threshold, the asset classes, and how lenders price and size a loan.