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Boxwood Means research

Insights for the small-cap CRE market.

Articles, papers, presentations, and anonymized Deal Vignettes from the team that studies small commercial real estate every day.

Deal Vignettes

Apr 15, 2026 — 7 min read

How lease income shaped a Chicago retail valuation

A small, tenant-occupied property. Two valuation perspectives. A conclusion grounded in the way investors evaluate leased retail real estate.

Articles

Apr 1, 2026 — 6 min read

Main Street CRE: Q1 Price Index Notes

A short briefing on small-cap commercial price movement and what credit teams are watching.

Articles

Mar 18, 2026 — 6 min read

What Lenders Should Expect From a Commercial Evaluation

A practical look at property verification, market analysis, and how evaluations support small-balance CRE credit decisions.

Papers & Presentations

Mar 4, 2026 — 14 min read

Small-Balance CRE Valuation: 2026 Industry Briefing

A conference briefing on how community and regional banks are scoping evaluations for sub-threshold commercial loans.

Papers & Presentations

Feb 20, 2026 — 11 min read

Direct Cap vs. DCF for Main Street Retail

When a simple capitalization is the more defensible tool, and when a discounted cash flow starts to overfit a small retail file.

Articles

Feb 11, 2026 — 6 min read

Restricted Appraisal Reports vs. FieldSmart Evaluations

When policy requires a licensed appraiser signature, a Restricted Appraisal Report is the right FieldSmart product.

Articles

Jan 22, 2026 — 6 min read

Using Evaluations Across the Loan Lifecycle

Origination, renewal, credit review, portfolio monitoring, and disposition all benefit from consistent collateral insight.

Articles

Dec 9, 2025 — 6 min read

How Credit Teams Read a FieldSmart Report

The sections reviewers actually flag: comps, income line items, and the value reconciliation.

Articles

Oct 16, 2025 — 6 min read

Turnaround, Scope, and Small-Balance Pricing

Why cycle time and report scope matter as much as the value conclusion on sub-threshold CRE.