A corner of the commercial real estate market is starting to show signs of stress from the banking crisis

• Sales of apartment buildings last quarter posted their largest drop since 2009, according to CoStar Group.
• The drop comes as banks tighten lending standards and interest rates soar from historic lows. 
• Experts have said that commercial real estate is next in the crosshairs of the banking crisis. 

Apartment building sales in the first quarter of 2023 posted the steepest drop since the Great Financial Crisis, signaling that a corner of the commercial real estate market is feeling the strain of tighter lending standards by banks and interest rates rising from historic lows.