This article was first published at the Annual Meeting of the American College of Real Estate Lawyers, October 2016.

For the first six months of 2016, the real estate finance market has been described by some as dead, others as delayed and yet for others as dynamic. The market has been directly impacted by the overwhelming volume of pending loan maturities, a slowdown of economic activity, turbulence in the global economic and political markets, and the pending implementation of new governmental regulations, such as “HVCRE” and new partnership tax accounting rules. While such conditions have resulted in changes in lending metrics, the tightening of underwriting standards, reductions in loan proceeds, and asset class dislocation, they have also resulted in greater opportunities and additional capital investment. More >