1. 2008 we are seeing dramatically lower transaction volumes.
2. Equity capital earmarked for United States’ commercial real estate investment remains very deep.
3. Falling buyer bid prices for available properties and given rise to the current “bid-ask spread.” 
4. This can be accounted for by cap  rate increases and net operating income underperformance.
5. In recent years, the equity sector targeting higher yield distressed investments.