Quick Results
Industries

CMBS Special Servicers

Print Version

Baker Donelson's CMBS Servicer Team includes professionals with bankruptcy, real estate, litigation and tax experience, allowing us to provide the depth of experience our servicer clients require.

Featured Experience

Obtained appointment of receiver in federal court action to take control over 14 multifamily properties in six states to protect interest of secured lender holding debt of $195 million.

Maximized recovery on two loans cross-collateralized with multifamily properties in two different states through receivership, foreclosure, and avoiding pitfalls to preserve deficiency and guarantor liability to allow equity on one property to cover deficiency on property with shortfall in value.

Handled defaulted loan secured by mall in Alabama and maximized recovery through dealing with basic documentation and title defects with declaratory judgment action, collection of amounts due from guarantor, and sale of REO after foreclosure resulting in recovery of 85% of loan balances after estimate of less than 10% due to documentation and title defects.

Industry Overview

Overview

The Commercial Mortgage-Backed Securities (CMBS) industry involves distinct legal issues that require a different type of experience and knowledge from traditional bankruptcy, workout and restructuring issues in balance sheet loans. Baker Donelson's CMBS Servicer Team includes professionals with bankruptcy, real estate, litigation and tax experience, allowing us to provide the depth of experience our servicer clients require.

We represent CMBS special servicers across the country in matters of:

  • Bankruptcy
  • Receivership
  • Foreclosure
  • Workouts
  • Restructuring

We have particular experience in multi-family, health care, hospitality, office, industry, retail development and other income producing properties. Our CMBS team is an active member of the Commercial Real Estate Finance Council, and provides regular industry updates to clients through client training sessions.

Representative Matters
  • Obtained appointment of receiver in federal court action to take control over 14 multifamily properties in six states to protect interest of secured lender holding debt of $195 million.

  • Maximized recovery on two loans cross-collateralized with multifamily properties in two different states through receivership, foreclosure, and avoiding pitfalls to preserve deficiency and guarantor liability to allow equity on one property to cover deficiency on property with shortfall in value.

  • Handled defaulted loan secured by mall in Alabama and maximized recovery through dealing with basic documentation and title defects with declaratory judgment action, collection of amounts due from guarantor, and sale of REO after foreclosure resulting in recovery of 85% of loan balances after estimate of less than 10% due to documentation and title defects.

  • Structured lender exit from office building loan in Nashville with lender protections including payment of lease termination fees, escrow of receiver order and deed in lieu contingent on borrower default, consensual modifications of security instruments to correct title problem, borrower representations tied to additional recourse liability, and ultimate sale and assignment of loan to borrower related purchaser with waiver of controlling class purchase option.

  • Obtained order for appointment of receiver without a monetary default based on borrower hardship representations regarding property condition intended to position for a more favorable discounted payoff which resulted in a higher recovery through a third-party note sale of loan secured by Knoxville office building.

  • Foreclosed multifamily property loan upon maturity, defended litigation for wrongful foreclosure, obtained and collected judgment of $2 million against individual guarantor based on violation of single purpose entity requirements including insolvency.

  • Obtained appointment of receiver in federal court action over five industrial properties in four states, navigated through possible claim against mezz lender, and managed disposition of properties through foreclosure and receiver sales.

  • Restructured matured loan secured by aging mall in Atlanta area including new cash management waterfall, deferral of insider management fees and incentives for borrower payoff above appraised value.

  • Represented secured lender with six retail properties in three states with imminent maturity default including advising in regard to mezz lender rights and duties and exercising senior lender’s remedies to protect against property deterioration resulting in municipal ordinance violations prior to monetary default.

  • Representation of lender in $23 million loan secured by commercial retail/office complex in Memphis with post-origination unauthorized TIC owners from foreclosure and continuing representation through REO disposition.

Interactive Foreclosure Map

Blog Posts

They pay attention to detail and don't miss anything. They provide solutions that work for us as well as the other side. Their work is timely and they meet deadlines.

Email Disclaimer

NOTICE: The mailing of this email is not intended to create, and receipt of it does not constitute an attorney-client relationship. Anything that you send to anyone at our Firm will not be confidential or privileged unless we have agreed to represent you. If you send this email, you confirm that you have read and understand this notice.
Cancel Accept