In the News October 16, 2015

Gerard Keegan Quoted in Commercial Mortgage Alert

Commercial mortgaged-backed securities lenders are reviewing mortgages on properties with “tenants in common” ownership structures, creating a credit-quality concern for bond buyers.

“If you properly structure these loans, you can make them close to credit-neutral,” said Gerard Keegan, partner and co-chair of Alston & Bird’s Real Estate Finance & Investment Group.

He warned that there’s still inherent risk in dealing with multiple direct owners of property because there is nothing to stop those owners — who are often unsophisticated mom-and-pop investors — from seeking to block workouts or file for bankruptcy regardless of protections. 

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