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NEW RULES OF THE ROAD for CMBS bondholders

Anyone who has driven from Los Angeles to Las Vegas has been on that remote stretch of straight, flat highway where the posted speed limit is more of guideline than a rule. You know you shouldn’t be speeding, but you do it anyway since all you can see for miles is a...

AUCTION PLANNING – article published November 2012

  Participants urged to be aware of CMBS note sale costs Increasing adoption of US CMBS note auctions is significant for both noteholders and borrowers. Losses can be considerable and the tax implications for borrowers are not widely understood. Note auctions...

Trust vs. Bondholder

CMBS Certificateholders Shut Out   THE ABILITY OF INVESTORS in commercial mortgage backed securities (CMBS) to participate directly in a borrower’s restructuring was recently curtailed by a New York bankruptcy court, raising a number of practical restructuring...