Commercial Mortgage-Backed Securities (CMBS)
SNR Denton has played an active role in the
CMBS market since its inception, representing issuers, trustees,
underwriters and servicers with respect to the offering of new
issuances and in addressing issues with respect to existing
transactions. Our CMBS lawyers work directly with SNR Denton's
international team of commercial real estate lawyers throughout the
process of origination, warehousing and securitization.
As the commercial mortgage securitization
market has begun to revive following the downturn in the commercial
real estate market, SNR Denton closely monitors the changing
regulatory landscape as well as ongoing market developments to
ensure that our clients are aware of the evolving political, legal
and investor driven concerns that are shaping these changes. In
advising clients with respect to structuring CMBS transactions, we
are keenly aware of the need to balance investor concerns with the
economic realities of the present market and focus on addressing
issues such as the alignment of interests of junior and senior
bondholders. Additionally, we bear in mind the need to react to the
market’s demand for greater protection against disruption in
monthly interest payments by ensuring that more funds are available
for payment of trust expenses by capping or reallocating various
fees and incorporating tighter cash management provisions. In
addition to our depth of CMBS experience, our extensive knowledge
of the financial regulatory reforms enables us to also keep clients
informed as to the potential impact of these reforms on future CMBS
transactions.
Areas of Focus:
- Large
loans
- Single
asset
- Conduit
- Floating
rate
- Small
balance
- Seasoned
loans
- Franchise loans