Cash-strapped borrowers are increasingly giving keys back to lenders

Many commercial mortgage-backed securities borrowers that are strapped for cash are trying to turn the keys over to their mezzanine lenders. That’s according to a recent report from data provider Trepp, which found that the borrowers behind about $3.9 billion in outstanding CMBS debt across nearly 100 loans have “indicated a willingness” to give the collateral to their mezzanine lenders. The loans include both small-dollar and large portfolio loans with principles exceeding $200 million, according

source https://therealdeal.com/2020/10/23/cash-strapped-borrowers-are-increasingly-giving-keys-back-to-lenders/