The buyers of the most risky CMBS securities, sometime referred to as the “b-buyers,” have laid down some pretty strict guidelines for the remaining minimum term for franchise agreements on hotels to be eligible for CMBS conduit loans. As the buyers of the most risky CMBS securities, the b-buyers … [Read more...] about 4.3.15: Franchise Expirations Becoming a Headache for CMBS Conduit Hotel Loans
9.29.14: Franchise Expirations an Issue for CMBS Conduit Loans
The buyers of the most risky bonds in the CMBS structure (commonly referred to as the b-buyer) have the right to review all the loans in a CMBS pool in which they buy the bonds in the riskiest position. As part of the review, the b-buyer has the opportunity to “kick-out” of the pool or request price … [Read more...] about 9.29.14: Franchise Expirations an Issue for CMBS Conduit Loans