Default comes in many forms and can be difficult to recognize:

• Erosion of collateral value, DCR, LTV, or a reduction in occupancy.
• Named tenant conditions or cash management triggers.
• Reserve thresholds or funds allocation.
• Maturity, extension, and refinance challenges.
• Mezzanine and Deed of Trust foreclosure.
• Insurance claims and coverage requirements.
• Recourse and personal liability events.
• GP/LP disputes or liquidity and recapitalization hurdles.
• Pitfalls of returning assets to the Trust.
• Note sales to predatory entities.
• Ongoing Covid 19 driven challenges or compliances.

Each assignment is launched by providing an acute breakdown of the loan documents, ownership structure, as well as asset financials and fundamentals. 

We perform a deep dive into the entities that manage and administer the Trust that owns a specific loan.  Each Servicer, Operating Advisor, Controlling Class Representative, and the Trusts themselves are unique in their motivation and organizational protocols. Our expertise in this arena represents a very high value component to a obtaining successful outcome. 

The process is often long and complex.  Our team excels at identifying resolution options over and above what Special Servicers traditionally offer.