Abstract
With $550 billion in commercial loans generated, and potential problems on the horizon in the real estate and interest rate markets, the commercial mortgage-backed securities (CMBS) marketplace is one of the most widely used vehicles for commercial loan funding by borrowers, but one of the least understood by turnaround professionals. This article outlines recent CMBS history, breaks down the CMBS structure and its players, and then turns its attention to strategies for obtaining present value for defaulted loans within the context of the CMBS trust. For those whose workout clients have a CMBS loan on their commercial real estate, it is important to understand why special servicers are not like traditional banks.
- © 2006 Pageant Media Ltd
|
Don’t have access? IPR Journals is the leading provider of applicable theoretical research for all those in the investment management community. Benefit from access to our content including:
|
Log in using your username and password
In this issue
Jump to section
Cited By...
- No citing articles found.