Think of it this way- a company has a CRE portfolio originally worth a hundred million dollars on their balance sheet.
If they sell it and take a massive loss, they'll take a big hit on the balance sheet. So, they want to hang on to it until times are better. But, people will criticize the company for hanging onto unused real estate if nobody shows up. So now the company wants to show people in the office.
I'm not sure that this is true, but it's the only realistic way I can see CRE holdings driving returns to the office
If they sell it and take a massive loss, they'll take a big hit on the balance sheet. So, they want to hang on to it until times are better. But, people will criticize the company for hanging onto unused real estate if nobody shows up. So now the company wants to show people in the office.
I'm not sure that this is true, but it's the only realistic way I can see CRE holdings driving returns to the office