CMBS: The value of loan-to-value
Case study: Plantation Place
THEY WERE THE ones that no one really cared about in the good years: just lowly administrators whose most pressing responsibility was little more than to make sure that cashflows were paid in a timely fashion. How times have changed. Servicers and special servicers to structured commercial real estate deals now find themselves in the eye of a storm, with the authority to make or break the fortunes of lenders that previously barely noticed them.
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