The dynamic reflects both a dearth of deals taking place and the fact that distress hasn’t started working through the marketplace yet.

One of the world’s largest hotel owners hired Rothschild & Co. to lead talks with its 19 lenders and evaluate options.

It’s the latest sign of how the pandemic and the related decline in office workers and tourists has hobbled city businesses.

Last month, 10.6 percent of the city’s apartment tenants missed a rent payment, more than double the rate of a year earlier.

Outlet centers have not been spared the pandemic’s toll. But their open-air locations and focus on value are major advantages.

Landlords are growing more desperate as they struggle to fill apartments, offering months of free rent.

The lending market “is not cautiously pessimistic, it’s not cautiously optimistic. It’s just in a quiet place where it doesn’t know which direction to go,” says one source.

With commercial vacancies rising and rents falling, there is a question of whether the banks have set aside enough money for CRE losses.

Excess Space’s Michael Wiener says ‘We must talk about science these days instead of just talking about real estate, because it's all tied together now.'

Valuation experts are still struggling to get a handle on current market conditions.