Commercial real estate is somewhere between an orderly massacre and a disaster, William Mack, founder and chairman of Area Property Partners, a real estate investment fund, told CNBC. “Commercial real estate has over the last several months or few years taken a tremendous setback both in rents and in cap rates,” explained Mack. “I would say depending on the type of product, the value of real estate is down anywhere from 25 to 75 percent.” Formerly known as Apollo Real Estate Advisors, Area Property is an an international real estate fund manager with more than $50 billion invested in real...