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CMBS Loan Maturities and COVID-19
Last year was a rough year for many CMBS borrowers, particularly those owning hotels, retail space (shopping centers) and office buildings. In a matter of a few short weeks our nation went into lockdown. Even in red states where many businesses were allowed to stay open, people stopped traveling. Vacationers

In today’s commercial real estate market, commercial loans are often pooled together to create commercial mortgage backed securities (CMBS). These loan pools typically have several tranches. Each varies in credit quality and payment priority.
The first-to-be paid tranches of bondholders usually possess investment grade securities. These are the A class bondholders. The last…

It’s been a very long year for our friends in the retail and hospitality industry. Many mall and hotel owners are barely hanging on. Many are in default although special servicers have not actively sought to foreclose on most defaulted properties. In this post we look at the current state of affairs for project owners

Anyone who owns an office building, shopping center or other commercial space has probably seen their property values decrease since the pandemic began. Particularly hard hit are hotels, especially those in tourist areas.
The Financial Times reported in September that values are down an average of 27% with hotels in some areas seeing even larger

[This post is taken from court documents and a story published by Law360. Although we represent the Plaintiffs in the lawsuits, we do not comment on pending litigation.]
Many commercial projects are financed with CMBS loans. Short for “Commercial Mortgage Backed Securities,” CMBS loans start out like a regular loan but once the loan closes,