Loan on crowdfunded property transfers to CMBS special servicing

By Max Adams
29 Sep 2015

Crowdfunding, a hot topic in the ABS markets recently, looks like it may have been the cause of a headache for CMBS investors this month, as a loan was transferred to special servicing potentially as the result of crowd financing on the assets.

Details are scant — servicers Midland Loan Services and LNR Partners only said that there was a transfer of interest to a “restricted party”. But Morgan Stanley CMBS analyst Richard Hill noted that the properties backing the CMBS loan received $12m in financing through real estate crowdfunding website ...

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