2025 Year in Review: Brian Sahn, Forchelli Deegan Terrana LLP

What accomplishment, milestone, project or transaction stood out for you or your firm in 2025? 

My standout transaction in 2025 was the closing of a refinance bridge loan for a newly built 250+ unit multifamily project located in Florida. During the process we had to extend the then-current construction loan lender to give sufficient time to work towards the closing with the bridge lender. There were several interim steps needed, including working with the principal sponsor and a multitude of partners to restructure ownership to meet the new lender’s closing criteria. The successful closing will allow the developer to lease up units and stabilize the asset.

What emerging trends or shifts will shape opportunities for you, your firm, or market sector in 2026? 

Entering into 2026, the big question for all forms of commercial real estate will be where will interest rates go? Expectations are high for further rate cuts, that will spur more investment and yield higher transaction volume. We also anticipate that the tax advantages in the One Big Beautiful Bill Act (OBBBA), which provides for extensive federal tax policy changes, will yield greater economic incentives for real estate investors able to take advantage of tax savings measures thereby generating more transactions.