Not A Fairy Tale: The Special Servicers’ “Little Black Book”

29th May 2014 · Comments Off on Not A Fairy Tale: The Special Servicers’ “Little Black Book”

Picture it: you’ve found yourself with a troubled commercial loan and have secured a so-called “experienced” CMBS advisory company who’s promised big on what they can win on your behalf. What you don’t know is that your “rockstar” advisory company is anything but…the Special Servicer has “heard” that your company has a rep among his or her colleagues for being unprofessional, inexperienced, or for setting unrealistic expectations with their clients when it comes to serious CMBS negotiations. No Special Servicer is giving them the time of day, so your real estate problems stagnate and possibly worsen as time drags on…

That’s not a fairy tale situation.

Like any other industry or service you buy—caveat emptor, or buyer beware.

Special Servicers keep tabs on Owners and Advisors. Don’t be seduced by Advisory companies who paint a picture of a bigger-than-life deal. Also, don’t believe it when a company downplays the complexities and difficulties inherent in the CMBS work out process. It is extremely complex and multi-layered.

Given this, The Henley Group steers clear of making absolute guarantees on outcomes. Often, a negotiation takes a “direction” that demands we recalibrate our approach and potentially adjust client expectations. All negotiations with a Special Servicer are difficult to predict—even among those with whom we have successfully worked for years. So, what sets a good CMBS work out Advisor apart from one of those others?

  • A proven track record of successful and realistic negotiations
  • Testimonials from Special Servicers
  • Ability to read the signals of a negotiation and change direction if necessary
  • Develop outside-the-box deals that provide flexible options for all parties
  • Build a consistent and trusting dialogue with a Servicer

This, then, is the type of CMBS workout advisory group with whom you’d be best advised to partner. May we suggest The Henley Group?

The Henley Group has veteran experience in all aspects of the CMBS realm, just check out our Success Stories. Our professional network runs deep, which is to our clients’ advantage. When you have a choice to make in Advisors, contact us.

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