News
Special Servicing, No Worries
January 27, 2011
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| Fantini & Gorga?s George Fantini isn't concerned about the level of Boston CRE loans going to special servicers, since the uptick over the last several months was ?fully anticipated.? In reality, he says, special servicers are acting like enlightened bank workout lenders, willing to listen to restructuring plans. Also, with 21 conduit lenders back in the market to originate new product, there are more options for borrowers than one would have imagined 15 months ago. Indeed two years ago, George himself doubted there would be a market for maturing loans. But there is and those anticipating a replay of the early '90s—with distressed properties selling for a song—are by and large left with a pocket full of money. Happily, he told us, greed has overcome fear. |
