Receivers protect and preserve lenders’ interests
When the economic fortunes of a piece of commercial real estate turn bad, receivers often step in to maintain and, sometimes, improve the property until its financial distress is resolved. Whether your client is an owner or a prospective buyer of a distressed property, it is useful to know the scope of a receiver’s duties and responsibilities.
Commercial property has had a prolonged price-appreciation period since the depths of the financial crisis. The long run-up raises the possibility of a cyclical downturn ahead and, with it, the potential for commercial real estate distress is once again rearing its head. >>> Read More