REC 6 refi tries equity to break deadlock

Highcross and Gatak Real Estate have boosted their tender offer to the noteholders of the troubled Alburn Real Estate Capital 6 (REC 6) CMBS, giving class ‘A’ noteholders an extra 5% and adding an equity participation option for noteholders that don’t want to cash out. But with two blocking stakes in the class ‘A’s, the borrower may have to put more on the table.