top of page

Case Study

CMBS Retail Portfolio Restructuring

$66,000,000 A/B Note

Maturity Default

Nine neighborhood retail centers located in four states

Thorn Oak Successfully negotiated an A/B modification and 2-year loan extension with the special servicer.

The modification included new minimum release prices for each of the nine assets and full interest PIK of the B-Note and the A-note received priority payment on all cash from sales proceeds and excess operating cash flow which allowed the A-note to be repaid, as well provided more credit support to the bond holders (post modification).

Centre Square Commons.jpg
bottom of page