Investing in CRE debt at this point in the cycle can bring in attractive current returns. : Ten years have passed since the global financial crisis and the last commercial real estate downturn. While U.S. commercial real estate fundamentals are generally healthy, interest rates are rising, yields are being squeezed and prices are leveling off. In some markets and for some property types, values are even beginning to fall. In a market that is likely approaching its cyclical peak, it is time for global investors seeking a portfolio hedge to move out of commercial real estate equity and into debt.