Strong balance sheets and minimal leverage have become thethemes of this downturn. Compared to the Financial Crisis,commercial real estate companies are not overleveraged and preparedto weather the storm. According to Kevin Shieldsof Griffin Capital, lower leverage profiles willhelp to stabilize asset values through the recovery.

"Opportunity funds that were levering themselves up before theGreat Financial Crisis were 80% or 85% levered. It doesn't take abig market move to wipe out that equity. Here, I don't think wehave that," Shields, CEO of Griffin, tells GlobeSt.com. "When wewake up and this is all behind us, maybe markets are off 5%. Idon't see a big move in overall valuation, even though it is toughto see today because we aren't seeing a lot of velocity in themarketplace."

Certainly for Griffin Capital, the leverage profile has changedsignificantly since the last recession. "In 2008 and 2009, ourleverage profile as a general proposition was much higher," saysShields. "We were fairly consistently levering up to 75%. We have adifferent format of vehicles today, and most of our funds orregistered and public. Across our platform, we are less than 50%levered and the REITs are about 40% levered. Even our multifamilyportfolio is 45% levered."