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One lesson learned from the global financial crisis was that there needs to be a strict chain of control over cash management accounts.
The loan servicing firm is understood to have appointed Investec to market it to prospective buyers.
Brookfield also defaulted on a pair of Los Angeles office properties in February.
Should the CMBS market be used to resolve potential problems at regional banks, there are questions about how this could play out, however.
The pending sales of discounted mezzanine loans highlight mezzanine investors' role.
While there has been recovery in the retail and lodging sectors, challenges remain.
The asset class continues to experience pricing pressure given the uncertain market outlook.
The loan, which is secured by properties owned by the manager’s Sponda platform, has been placed into special servicing.
Short-term fixed-rate SASB offerings are coming to market despite funding costs remaining volatile.
The issuers are responding to more borrowers seeking shorter-term loans in the current interest rate environment.