A dozen spoke on what investors, lenders, and end-users should do with their money or distressed properties. Fifth Third Bank's Randy Schwarzmann and Harris Bank's Larry Rhum emphasized those looking for a workout be diligent and honest about the asset’s true state: What is the cash flow? Occupancy rate? Borrowers who are flexible may have a chance of getting a loan, they say. Larry gets about 10 calls a week about deals on workouts, but he says he's unlikely to respond unless they have cash to put down or a relationship with him or someone he knows.

On institutional investments, BPG Properties' Joe Neverauskas, CrossHarbor Capital Partners' Tom Stevens, and Hillco Real Estate's Ron Lubin say they’re still doing business, even if deal flow is a little slow. Joe recently sold two office towers totaling 550k-SF in suburban St. Louis, showing that assets are still moving if they're well capitalized and well-maintained. Tom's company bought the Yellowstone Club at a bargain last year and is now set to make a profit off the historic property.