As we enter the second quarter of the year, the necessary process of recalibration and rebalancing across all facets of CRE capital markets took a frustrating pause, largely due to heightened financial market volatility and uncertainty. The collapse of Silvergate, SVB and Signature Bank in the U.S. sounded critical alarm bells of the consequences of sharply rising interest rates on the underlying value of and exposure to various bank assets. Yield curves remain historically inverted, all as financial market liquidity conditions have noticeably tightened.