Lenders have hit the pause button on many CRE sectors, from hotels and retail to ground-up construction, lenders are taking the cautious road. But, there are a few asset classes that are still worthy of a deal. Multifamily and industrial are of course on the list, but ghost kitchens—industrial kitchens that service take-out and delivery food orders without the costly operational expenses of a traditional restaurant—are the welcome new favorite.

"Naturally, most lenders are risk averse and so are standing on the sidelines with regard to general retail lending and construction—particularly as labor and materials shortages prevail," Stephen Stein, managing partner at Tauro Capital Advisors, tells GlobeSt.com. "Instead, we have seen lenders favor strong asset classes like multifamily and industrial, as well as niche categories like ghost kitchens and triple-net-lease, which are experiencing tremendous demand at this time."

The firm noted these preferred asset classes as it has worked with lenders on financing deals throughout the pandemic. "At Tauro, we are consistently monitoring lender sentiment," says Stein. "In fact, we place a significant emphasis on nurturing our lender relationships and continuously expanding our lender network, which has contributed to our growth."