White Tower CMBS Breaches LTV Covenant
The White Tower 2006-3 commercial mortgage-backed securities deal from Société Générale has breached its loan-to-value covenant as a result of a much lower valuation of the properties in the portfolio.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ European securitization issuance database
- ✔ Daily newsletters across markets and asset classes
- ✔ 1 weekly securitization podcast