Over the last 2 1/2 years, we've been dealing with the fallout from the pandemic, advising commercial property owners–in every asset class across the U.S., but what we face now is a turbulent environment of high-interest rates and recession, such that:
- Office occupancy continues to drop
- Multifamily is declining as delinquencies rise
- Market liquidity continues to tighten under inflationary pressure
- Refinancing and/or sale upon maturity is more challenging and problematic than in the past
As we usher in 2023, a further decline in property values is forecasted, while nearly $175 billion of existing CMBS loans across all asset classes are reaching maturity over the next 24 months.