Rising interest rates continue to be a huge issue for the commercial real estate market. Institutional lenders aren't doing much lending and the pace of commercial real estate sales transactions has slowed to a dribble. CMBS Loan delinquency rates are now in the 3% range, and the portion of such loans moving to the "special servicing" category are approaching 5%. We received good news this week that inflation slowed in December, so let's hope for continuing positive signs from the economy.
