It's time to go back to basics and adhere to some key guidelines to help navigate the choppy waters facing commercial real estate financing.
If the current coronavirus (COVID-19) situation persists, real estate lenders increasingly will be faced with the need to restructure loans in their portfolios. Lenders that held non-performing real estate loans during prior real estate downturns (e.g., 2008, 1990s) have no doubt embarked on the real estate workout process countless times before. However, with the passage of time, the lessons learned by real estate lenders of earlier eras may have faded from memory.
Read more...Seven Rules for Lenders Navigating Workouts During Uncertain Times via NREI