Distressed real estate investors, short on troubled properties, have turned to a crisis-era favorite to suss out potential deals: commercial real estate bonds. Hedge fund Axonic Capital and startup Metamorphosis Hotel Capital Partners are scrounging through commercial mortgage-backed securities for opportunities to seize, fix and flip troubled properties for profit, Bloomberg reported, citing sources with knowledge of the matter. Firms adapted a similar strategy during the global financial crisis. Now, investors are seeking mortgages that The post Distressed investors tap throwback strategy, target CMBS appeared first on The Real Deal New York.