Opera CMH noteholders choose Kennedy Wilson all-cash proposal

Real estate investment company Kennedy Wilson Europe is set to buy the portfolio of Irish properties backing the Opera Finance (CMH) commercial mortgage securitisation, the underlying loan for which defaulted in January.

  • 21 May 2013

The deal has been in special servicing since the loan matured without payment on January 15. In March noteholders – represented by an all-class noteholder committee – mulled over six different workout plans at meetings arranged by special servicer Hypothekenbank Frankfurt AG.

The committee comprised noteholders owning 70% ...

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