iBorrow, Los Angeles, provided a $24.9 million bridge loan to refinance a 173-key Holiday Inn Express & Suites asset in downtown Atlanta, Ga.

"After a strong first half of the year, rising interest and capitalization rates began to affect deal volume during the third quarter. Increasing yields across investment alternatives--including the 10-Year Treasury yield more than doubling during the first nine months of the year--have shifted property financing and values, and it will take time for the market to fully absorb these changes. Volatility has been equally impactful, making the sizing of transactions extremely difficult. The result has been the first of what may be many quarters of depressed borrowing and lending activity." ----Jamie Woodwell, MBA Head of Commercial Real Estate Research.

CBRE, Dallas, said the tech industry’s share of U.S. office leasing slipped in first-half 2022 to its lowest figure in five years, though it remains a leading force in the sector.