The commercial real estate market remains strong, despite talk of an approaching recession, according to an Emerging Trends in Real Estate 2020 report produced by the Urban Land Institute (ULI) and consulting firm PwC and released at this week’s ULI fall meeting. “Real estate is in a very good space,” said Mitch Roschelle, partner and business development leader with PwC, at the event. “The real estate community caused two recessions: it caused it in housing, and it caused it in the savings and loan crisis. This go-around, whatever happens, it ain’t going to be [real estate’s] fault.”

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Through a $1.2 billion deal, a Seattle company and a Honolulu company are combining to join the ranks of publicly-traded mortgage REITs. The Seattle-based Broadmark Group, a privately-held real estate lender for commercial and residential projects, plans to merge with Honolulu-based Trinity Merger Corp., a special-purpose acquisition company that went public in May 2018, to form a $1.5 billion publicly-traded commercial mortgage REIT. The merger, announced in August, is expected to close in November.

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