Higher interest rates and the threat of a recession are expected to considerably slow commercial real estate leasing and investment activity across the board in 2023.

Fifth Wall Ventures Management LLC raised the largest-ever venture fund focused on real-estate technology companies, a sign that some major investors are still bullish on property startups despite this year’s surge in interest rates. The $866 million fund will invest in both early- and late-stage startups.

In projections released this week, the central bank expects to raise rates ultimately to 5.1% by the end of 2023, a half-point higher than projected in September, and lower them only to 4.1% by late 2024.

The SBA issued roughly $390 billion in Covid disaster loans to nearly four million small businesses and nonprofits. Unlike forgivable loans issued through the federal Paycheck Protection Program, the disaster loans were designed to be repaid. Borrowers began repaying 427,000 loans in October or November. For 1.2 million Covid disaster loans, the first payments are due this month; another one million loans enter repayment in January.

WeWork, saddled with expensive long-term leases and more than $3 billion of debt, recorded a negative cash flow of around $4.3 billion between July 2020 and September of this year.

Shares of ARK Innovation exchange-traded funds, a pandemic-era favorite largely made up of unprofitable, growth-oriented technology companies, are down 63% this year. The flagship fund is hovering near a five-year low.

In theory, savers could have earned $42 billion more in interest in the third quarter if they moved their money out of the five largest U.S. banks by deposits to the five highest-yield savings accounts—none of which are offered by the big banks.

Federal Reserve officials have raised rates this year at the fastest pace since the early 1980s.

Nontraded REITs paid out $3.7 billion in redemptions in the third quarter. While they were still raising more new funds from investors than they were losing to withdrawals, that marked the highest withdrawal figure in years and a 12-fold increase from the third quarter of 2021.

Wynn Resorts announced the completion of a planned sale of land and other real estate assets at its Encore Boston Harbor resort casino for $1.7 billion in cash to Realty Income Corp. Wynn will continue to operate the Encore Boston Harbor five-star resort via a sale-leaseback arrangement with Realty Income, the San Diego real estate investment trust. The lease is valued at $100 million annually for a 30-year term. Rent at the property will escalate at a 1.75% annual rate for the first 10 years of the lease.