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MIAMI—Distressed assets may be dwindling in the Southeast, but there are still deals to be done and there may be another wave just ahead. Indeed, much of the commercial real estate industry is bracing for the CBMS maturities coming due in 2015 through 2017. Nelwyn Inman, a shareholder at Baker Donelson in Chattanooga, isn’t reassured by the decline in delinquencies in 2014 because she’s also witnessing many challenged borrowers.

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