Representing the servicers of commercial mortgage-backed securities (CMBS) is a niche area that requires more than a solid understanding of bankruptcy, workout and restructuring law. We have the finance, real estate, litigation and tax experience that is vital to successful resolution of these matters. That’s why we represent some of the industry’s largest CMBS special servicers, both in the Midwest and other parts of the country.
Whether the resolution involves judicial or non-judicial foreclosure, consensual modification, deed in lieu of foreclosure, discounted payoff or other means, we have the expertise to handle the transaction, including the unique CMBS pool issues, such as restrictions imposed by related pooling and servicing agreements.
If troubled CMBS loans cannot be resolved, we work with our clients to secure title to the commercial real estate that secures the defaulted loan. We understand that obtaining title to the asset as quickly and efficiently as possible is the goal. If and when litigation becomes necessary, we have experience in this area, too. We can help with receivership appointments, judicial foreclosures and other means.
We’re also skilled, both substantively and practically, at the next step, which involves monetizing the asset through disposition. The attorneys in our practice group routinely handle real-estate owned (REO) properties and the related issues that arise after title to the property has transferred back to the noteholder. In doing so over the years, we have developed long-standing relationships with appraisers, brokers and other real estate professionals that uniquely position us to—quite simply—execute the transaction efficiently and effectively for our clients.