The memory of the Great Recession is very much alive in theminds of commercial real estate professionals today. The bleakseverity of the crisis is likely the reason why predicting the endof the current cycle has become a favorite pastime for industryleaders—a kind of PTSD tick for those who suffered through it. But,what about incoming young professionals? More than 10 years later,new professionals entering the commercial real estate market couldhave no or little memory of the economic disaster.

We asked George Mitsanas, a principal atNewmark Realty Capital, who has emphasized theimportance of completing a structured workout on all deals, whetherat the peak of the cycle or the pit. In this current boom cycle,even seasoned professionals could be inclined to loosenunderwriting standards. “Here's the reality of a boom marketcycle,” Mitsanas tells GlobeSt.com. “Both young and experiencedtalent in our industry is driven to focus almost exclusively on newproduction and income, creating a knowledge gap for complexstructured workouts.”