Increasingly commercial real estate owners are reaching out to their lenders for forbearance. Whether facing an impending loan maturity (with a lack of readily available financing), loss of a significant tenant (with a correlative diminution of cash flow), capital improvement requirements, deferred maintenance or a materially softening leasing market, these property owners need loan relief.
Loans may be current; there may be recourse in the nature of a well-capitalized guarantor; the lender may be secure that it is adequately collateralized. The borrower’s reputation may be pristine and its project may be well maintained. The borrower may have never defaulted on a commercial loan obligation in the past. The lender may have excellent remedies and no fear of utilizing them.
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