Many CMBS conduit loans have a clause whereby in the event a “Significant Tenant,” often defined as a tenant that occupies more than 25% of the space at the property, vacates the property or ceases to operate, all the cash flow after expenses and debt service is held in an escrow account and the … [Read more...] about 8.13.18: Unintended Consequences When Tenants “Go Dark”
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