25 June 2020
Meet the Money® Online: CMBS Special Servicing FAQs
for CMBS borrowers, investors and holders
A virtual roundtable of current perspectives, challenges and opportunities for hotel and retail projects
JMBM’s Global Hospitality Group® is excited to announce that next up in our Meet the Money® Online series is a virtual roundtable discussion among some of the top experts in the complex world of CMBS. If you are a CMBS borrower, investor or holder – or are involved in properties affected by CMBS – you will not want to miss this important conversation.
The online event will take place on Wednesday, July 8, 2020 at 10:30 AM PDT / 1:30 PM EDT. Register now.
Join our experts online for this 1-hour event which will answer the questions most frequently asked of CMBS special servicers and will also cover important considerations that CMBS holders, borrowers and investors often miss, including:
- What are special servicers seeing now after the first wave of COVID-19 relief requests? How are forbearance requests being handled?
- Which loans have larger underlying issues that will require a more complicated and protracted workout?
- What are the critical appraisal and valuation issues today? What does stabilized value look like, and what assumptions are going to be used?
- What are the most important effects of Pooling and Servicing Agreements? What do the documents say (or don’t say)?
- What inconsistencies are showing up and where are they coming from?
- What are the red flags for loan modifications (or purchase/sale) that could affect the all-important CMBS tax structure?
- What impact does securitization structure—REMIC, Grantor Trust, CLR/QRS—have on workouts?
- Can a “special purpose entity” file bankruptcy with independent directors and other bankruptcy remote features in loan documents or corporate structure?
- Can a hotel be considered “single asset real estate” (or SARE) for streamlined bankruptcy purposes, and why do creditors care?
- What should we anticipate moving forward?
The program will be moderated by Jim Butler, Chair of JMBM’s Global Hospitality Group®, a founding partner of JMBM, and one of the top hotel lawyers in the world. Devoting 100% of his practice to hospitality, Jim is author of www.HotelLawBlog.com and chairman of JMBM’s Global Hospitality Group® which focuses on representing hotel owners, developers, and capital providers. CONTINUE READING →