We sit down with returning guest Shlomo Chopp, Managing Partner of Case Equity Partners, for a candid discussion about CRE distress; the causes, the workout process, and what it takes to get to resolution. 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. Key moments01:35 Shlomo’s background and firm04:57 Why capital is pulling back09:34 Extensions and operator reality11:04 Office green shoots13:58 Hope trades and rate bets15:09 Maturity wall and data limits19:57 Liquidity paradox and DPOs25:54 Debt and fundamentals27:11 Distress cycle warning29:00 Bankruptcy and CMBS shift34:33 Building the workout plan37:41 Industry pitfalls and accountability40:03 Road To Default thesis43:58 Fixes and final takeaways Resources mentionedShlomo Chopp –https://www.linkedin.com/in/chopp/Case Equity Partners –https://www.caseinv.comThe Road To Default -https://www.linkedin.com/posts/chopp_the-road-to-default-and-potentially-recourse-activity-7445125862422691840-So7x