In February this year we knew we were late stage in a commercial real estate cycle and by April the only thing for certain was that we were very early into a new cycle. Over the past decade the U.S. enjoyed a prolonged expansionary cycle and there is a generation of new commercial real estate professionals that have never experienced a down cycle. For the rest of us, there is still a lot to learn from the last distress cycle that will inform what the upcoming one looks like.
Published on RCA Insights May 2020.
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