CRE workouts, maturity walls, and the art of restructuring
30 Apr 2026
CRE Exchange host, Omar Eltorai, sits down with returning guest Shlomo Chopp, Managing Partner of Case Equity Partners, for a candid look at where the commercial real estate financing and workout market stands today. Shlomo draws on more than two decades of restructuring and advisory experience to explain why fatigued capital is pulling back from existing deals, what the maturity wall actually means for borrowers and lenders in 2026 and 2027, and why good intentions can walk a borrower straight into a recourse situation. The conversation also covers Shlomo’s LinkedIn series The Road to Default, the real job of a workout advisor, and what he thinks the industry consistently gets wrong about distress.
Resources mentioned
Key moments
01:35 Shlomo’s background and firm
04:57 Why capital is pulling back
09:34 Extensions and operator reality
11:04 Office green shoots
13:58 Hope trades and rate bets
15:09 Maturity wall and data limits
19:57 Liquidity paradox and DPOs
25:54 Debt and fundamentals
27:11 Distress cycle warning
29:00 Bankruptcy and CMBS shift
34:33 Building the workout plan
37:41 Industry pitfalls and accountability
40:03 Road To Default thesis
43:58 Fixes and final takeaways
Featured panelists
Shlomo Chopp
Managing Partner
Case Equity Partners
Omar Eltorai
Senior Director of Research
Altus Group
Resources
Latest podcasts
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