JER Investors Trust, a mortgage real estate investment trust, filed for Chapter 11 bankruptcy on Friday, following other commercial real estate firms as the sector struggles with high interest rates and a lack of demand, according to Bloomberg.

The firm filed for bankruptcy in Wilmington, Delaware, claiming more than $100 million in debt but less than $50 million in assets, using the Chapter 11 protection to temporarily halt most debt payments to avoid a closure, according to Bloomberg. JER's bankruptcy is indicative of a larger debt crisis in the commercial real estate sector, which has seen a rapid rise in delinquencies over the last year as high interest rates for mortgages and low demand for commercial buildings as more workers go remote take their toll.