Marcus & Millichap Capital Corporation Debt Advisory Services (DAS) is dedicated to helping borrowers navigate the complexities of structured commercial mortgage loans, including managing and negotiating modifications, loan assumptions and workouts. The team consists of expert professionals with more than 30 years of collective experience in institutional commercial real estate finance. DAS possesses expertise in all aspects of commercial real estate financing: underwriting, credit, loan closing, loan documentation and negotiation, securitization, servicing and asset management.
We leverage our understanding of structured finance transactions and our deep industry relationships to streamline the lender and/or servicer approval process and achieve an optimal resolution for the borrower with respect to the following
- Loan assumptions
- Loan pay-offs
- Lender consents and waivers
- Troubled loan analysis
- Comprehensive loan restructuring and modification
- Forbearance
- Commercial loan workouts
- Loan term extensions
- Lease concession approvals
- CMBS servicer negotiations.
DAS understands the assumption process for structured commercial real estate financing. As the borrower’s representative, we act as a single point of contact between buyer and seller in working with the lender/servicer and other approval parties. Our services include the following:
- Review of loan documentation
- Credit analysis of the buyer and seller
- Preparing request to loan servicer
- Managing information requests
- Anticipating closing issues and conditions
- Negotiating transaction approval requirements
We have particular expertise in CMBS and commercial bank loans, having been involved in more than $15 billion of financings during the past 15 years. We understand the complex structural issues and the process of requesting approval of a modification request, which could include the involvement of the lender, primary/master servicer, special servicer, rating agencies and investors. Our deep experience gives us the ability to craft a proposal that achieves the borrower’s goals while keeping in mind the lender’s obligation to make decisions that are in the best interests of its investors.
- Review of loan documentation
- Review of property financial information
- Underwriting of historical and pro forma property-level cash flows
- Review of borrower’s and property manager’s qualifications and experience
- Identifying transaction approval parties
- Analyzing and advising borrower of restructuring options
- Presenting analysis to servicer and representing client in business negotiations
DAS also has the expertise to assist borrowers by actively managing the lender approval process for other requests, including:
- Loan extensions
- Complex lease reviews, including requests for lease concessions
- Reserve disbursement requests
To get in touch with a Debt Advisory Services professional or to find out more, please contact us.
