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For much of this cycle there has been a wealth of capital flowing into CRE. But loan originations are only part of the story. The middleman and middlewoman—those arrangers of debt and equity transactions, the people who structure deals and make sure the needs of both borrower and lender have been met—should also take a bow.

Lending sources have continued to proliferate while deal structures have, in many cases, gotten more complicated. Knowing how to navigate this environment is a true and hard won skill.

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Erika Morphy

GlobeSt

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