Subordinate Finance in Commercial Real Estate—The Current Landscape

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Commercial real estate borrowers often need financing in amounts exceeding what traditional first mortgage lenders will provide. Profound changes in various forms of subordinate finance have occurred in the wake of the financial crisis of 2008. This paper discusses those changes and describes the current state of play in this important area.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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