How do I return my whole retail property?
How do I return my whole retail property?
by Ann Hambly
Retail stores all have return policies; some better than others. I never hesitate to shop at Nordstrom because I know I can return the item with no hassle and get all my money back. If I buy something however from Kohls, and I don’t keep the receipt, I know I will only be able to get the lowest price the item has ever sold for; typically one dollar it seems.
So, if you are an owner of a retail property, you may be just as focused on the return policy of the property. CMBS loans are non-recourse; which essentially means they have a “Nordstrom” type return policy. This is working out very well for many owners who find themselves with an overleveraged retail property, especially if the property needs even more capital to remain competitive. More retail properties are being handed back to the “lender/CMBS Trust” now than ever before.
There are certainly things to keep in mind when returning the whole property to the “lender” though. We are hosting a webinar on 8/17/2016 that will address the return policies for retail properties securing CMBS debt. Be sure to attend if you have a highly leveraged or over leverage retail property!
August 17th
RETAIL….is there a return policy?
If you buy an item through a retail store and you aren’t satisfied with it when you get home, you can usually return the item to the store. If only there was a similar return policy for the whole mall or retail center! Many retail owners are forced to contemplate the return policy for their property as their loan is maturing and they owe more than the property is worth. In this webinar you will hear from leading industry experts on creative solutions to this dilemma.
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