Extend and pretend" has all the hallmarks of a system in denial—lenders are babysitting bad loans instead of fixing the underlying problem. Post-pandemic reality has revalued office space, but lenders are clinging to pre-2020 fantasies. Those sitting on "dry powder" are less knights in shining armor and more vultures circling their next meal. The maturity wall isn’t just about timing; it’s a slow march toward overdue accountability. https://lnkd.in/ePqHJieT