ARTICLE
2 July 2026

Navigating Distress: Commercial Real Estate Workouts In The CMBS And CLO Markets (Podcast)

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Mayer Brown

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Mayer Brown is an international law firm positioned to represent the world’s major corporations, funds, and financial institutions in their most important and complex transactions and disputes.
The U.S. distressed commercial real estate market faces mounting pressure from high interest rates, overleveraging, and an approaching wave of loan maturities. Real estate experts explore why conditions in multifamily, office, and hotel assets may be worse than widely reported, and outline practical strategies for borrowers to protect their interests in an increasingly challenging refinancing environment.
United States Finance and Banking
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In this episode of Mayer Brown's Financial Services Focus, real estate partner Michael Weiss and Michael Cohen of Brighton Capital Advisors discuss the current state of the U.S. distressed commercial real estate market, with particular emphasis on CMBS and CLO loan workouts. The conversation explores why multifamily, office, and hotel assets face mounting pressure from high interest rates, overleveraging, and an approaching wave of loan maturities—and why conditions may be worse than widely reported. Cohen draws on over 30 years of Commercial Real Estate securitized lending experience to outline practical strategies for borrowers, stressing the importance of early engagement, assembling the right advisory team, and understanding loan document nuances before distress escalates. The episode concludes with actionable guidance for sponsors seeking to protect their interests and position themselves for successful outcomes in an increasingly challenging refinancing environment.

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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