Paramount Group is set to be acquired by Rithm Capital in a $1.6 billion deal that could close in the fourth quarter of the year. Paramount, which owns office properties in New York City and San Francisco, has a portfolio that includes more than 13.1 million square feet.

Markets expect the Federal Reserve to cut interest rates by a quarter point Wednesday to support a weakening labor market, marking its first policy shift of the year after tariff-driven inflation concerns kept it on hold. Investors will be watching fresh economic projections for clues about the course of monetary policy going forward. "Every cut is more difficult than the previous cut unless the labor market shows signs of continued deterioration," said Aditya Bhave, senior US economist at Bank of America.

The US has begun the formal review process for the United States-Mexico-Canada Agreement, inviting public comments over the next 45 days. The review will culminate in reports to Congress evaluating the deal's effectiveness and outlining possible changes or the US position on extending the agreement.

Senate Minority Leader Chuck Schumer, D-N.Y., and House Minority Leader Hakeem Jeffries, D-N.Y., have quickly rejected a short-term government funding plan introduced by Republican leaders, increasing the risk of a government shutdown on Oct. 1.

House lawmakers are planning to introduce the Saving the American Dream Act, which calls on government agencies to work together and generate a report with the goal of supporting affordable housing.

REITs are providing Canadian pension funds with exposure to a broader array of commercial real estate assets, says Nareit's John Worth, enhancing portfolio diversification. In addition to sectors such as office and retail, REITs offer access to areas such as data centers, telecommunications infrastructure and life sciences. A recent Nuveen survey suggests that many global institutions are planning to increase allocations to real estate related to digital infrastructure.

Mortgage rates experienced a sharp decline on Tuesday, with the 30-year fixed rate falling to 6.13%, marking the lowest level since late 2022, according to Mortgage News Daily. This drop followed investor activity in mortgage-backed bonds ahead of the anticipated Federal Reserve rate cut. A separate report from the Mortgage Bankers Association showed that the average rate declined to 6.39% last week.

Apartment rents were down 2.2% on a year-over-year basis in August, according to Realtor.com data. The national median rent is $1,713, still 17% above pre-pandemic levels but down $46 from the 2022 peak. Median rents for studio apartments reached $1,430, down 1.7% from the prior year.

Single-family housing starts declined to a seasonally adjusted annual rate of 890,000 units in August, down 7%, according to the Commerce Department. Meanwhile, multifamily starts fell 11%, reaching a rate of 403,000 units.

Member states in the EU are split on the best course of emissions reduction, and Bloomberg reports that the bloc could miss a UN deadline to set a cl