MIAMI—Commercial real estate loans now make up 24.68% of portfolios, compared to 19.55% as of March 2008, according to research from Winchester Equities, a $400 million-backed real estate investment management firm. But could a potential increase in interest rates disrupt this trend? How long will the trend really last?

In part two of this exclusive interview, we asked these questions of Avi Benamu and Jack Hazan, co-founders Winchester.You can still read part one: Less Risky Roads Drive Capital Markets Trends.

GlobeSt.com: Could a potential increase in interest rates can disrupt the trend?

Benamu: Absolutely, we have seen a long period of historically low interest rates. This has made the cost of capital really cheap. But the fear is what will happen when interest rates rise—and that day will certainly come—to the value of real property when purchasers can no longer purchase an asset that is cash flow positive because of the dichotomy between purchase price and cost of capital.

GlobeSt.com: How long this trend can last?

Hazan: Well, so long as the economy continues to improve ever so slightly and unemployment begins lower at a modest pace then the Fed can raise gradually to balance the growth. If however we experience some phenomenon that accelerates inflation and rattles the bond markets I fear that trend can end rather abruptly.