A tale of two markets: Some CMBS players see huge losses, others opportunity
When investment giants like Starwood and Brookfield hand the keys back to their lenders, it’s a sign of problems yet to come.
“We see a mess coming down the pipe,” said Shlomo Chopp, managing director of New York-based Case Property Services, a firm that focuses on CMBS debt restructuring. “Whether it’s a mess for the borrower, or the lender and bondholder, it’s going to be a mess for somebody.”