The commercial real estate market is wobbling, and 2 of the largest players are feeling the pain of higher rates and tighter credit

• Commercial real estate is feeling the pain of higher rates and tighter credit conditions. 
• Blackstone reported big losses in the past quarter, and Brookfield reportedly defaulted on some office loans. 
• Experts have warned that commercial property is the next shoe to drop after March's bank failures. 

The commercial real estate market is showing signs of weakening, demonstrated by the pressures being felt by two of the market's largest players amid higher rates and tighter financial conditions.