Years ago, there was a novel called Been Down So Long It Looks Like Up to Me. Could it be time for a commercial real estate sequel: Been Up So Long It's Bound to Look Down?
Between possible early signs of a recession, commercial property sales beginning to slow, and increasing financing costs and pressures, there's the natural question of how long elevated prices can last.
"The debt capital markets are in the driver's seat," Nitin Chexal, CEO of Palladius Capital Management, tells GlobeSt.com. "Leverage is falling, and interest rates are rising. Prices have only one way to go in the short term: down. It may take some time for sellers to acknowledge this sea change, but it is coming."
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