Commercial Real Estate Dealmaking: Sunrise Realty Trust and Southern Realty Trust signed a definitive merger agreement, aiming to consolidate two Southern U.S. CRE lenders into a larger public platform with expected margin and cost synergies. New Development & Leasing: DMCI’s planned ₱1.2B One Fortis Plaza in Makati targets prime office leasing, banking on Makati’s mixed-use “gateway” plan and close access to MRT-3 Magallanes. Regulatory Bottlenecks: In the Philippines, ABREP warned that delays in issuing licenses to sell are stalling housing production and investment, with only 93 permits issued so far this year versus 800–900 in 2025. Sustainability in Buildings: Chicago’s Fulton Market geothermal-powered residential high-rise is moving ahead with drilling for 65 wells, positioning the project as a model for lower emissions and energy costs. Investment & Capital Markets: Coronation Asset Management opened a ₦20B Series II infrastructure fund offer, expanding access to diversified infrastructure debt. Market Affordability Pressure: Redfin says buyers still need about $109,796 in annual income to comfortably buy the median U.S. home, with the affordability gap barely improving. Property as an Asset Class: Miramar Food Hall & Event Center in San Clemente is headed to market as a fully leased investment property, with the businesses staying under existing leases.