Wayne Cook Weighs in on CMBS Maturities in Law360
Wayne Cook (Partner, New York Office) was quoted in a March 1st article published by Law360 entitled "Hotels Face Challenges As Wave Of CMBS Maturities Nears." The article considers that many of the commercial mortgage-backed securities loans made before the market crashed in 2008 are now coming due. New regulations on CMBS loans are set to go into effect at the end of the year and will make it harder for borrowers to take out fresh debt. Hotel borrowers, the article continues, that are interested in refinancing debt may have to put in more capital. Wayne added that even hotel owners in New York, where asset values have climbed over the past five years, may have difficulty with refinancing. Read the article.