(Crystal Proenza is associate editor of Real Estate Florida.)

MIAMI-The playing field for investors and lenders has been redefined over the past 12 to 18 months, commercial real estate experts purport. The outcomes and outlooks for the changing market were discussed at this week's Commercial Mortgage Securities Association Investors Conference, concluding Wednesday at the Loews Miami Beach Hotel. Approximately 700 attendees gathered at the three-day event, which features speakers and panelists from banks and financial institutions in the business of buying, selling and lending.

This year will definitely be another rough one for the market, experts at the conference agreed, expressing the most concern over the expectation that fundamentals in every sector of commercial real estate will worsen. Investors and lenders are looking toward the new administration and what types of government intervention will be applied to try to rescue the suffering market.

That intervention, which panelists agreed is necessary at this point, is a catalyst that could spark confidence and action within the commercial investment community. However, experts warn that investing in an environment with government intervention may take longer to appreciate.