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RSM, Deloitte, Duval & Stachenfeld pros detail lending conditions and cautions moving into Q4.
The study, which incorporates 65 years of data, is the first significant research on commercial mortgage losses and risk metrics since 2005.
The Irvine, California-based manager thinks the slowdown could be a sign of things to come.
The firm recently expanded in the Pacific Northwest, hiring Blake Rodgers to head its new Seattle office. 
The Newport Beach-based office specialist has also had a solid leasing year as the return to office slowly picks up pace.
Lenders in the sector are adapting to the dramatic pricing increases of the past six months.
'There's a reset in the real estate markets,' says Lee Menifee, head of Americas.
Portfolio manager Karlis Ulmanis sees opportunity in the current environment.
Amid lingering uncertainty, the manager analyzes historic rates in an attempt to predict what is to come.
The near-term impact of higher rates is already being felt in the US CMBS market.
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