Second European CMBS defaults at bond maturity
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Second European CMBS defaults at bond maturity

EuroProp EMC Compartment 1 CMBS defaulted at legal final maturity on Tuesday, becoming only the second European CMBS since the crisis to do so. The special servicer is expected to continue the asset disposal process in the interests of all parties – on the condition that an administrative receiver appointed by courts after the default approves.

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