I'm not sure if its all the journalists misquoting someone, or if the someone they keep quoting in places like here, and here.
Distressed sales of commercial real estate may rise next year as about $36 billion in securitized loans written in 2006 and 2007 come due
I don't know where they're looking, but including Conduit and Floaters, and every esoteric sector out there, we have around $25 billion due next year. Even if you forget to account for extensions, it's hard to get to their number --- and most of the loans maturing were originated last century (none, or close to it, were originated in '06 or '07).
''The special servicers are not making it easy to assume these debts,'' he said. ``They're taking the opportunity to take another bite of the apple.''
Special servicers are not there to make it easy - the reason you are talking to the special servicer in the first place is because you've failed to meet your end of the agreement. The special is supposed to do what is best for the investors, and sometimes that means they extend a maturity date, sometimes they foreclose on you and sell their property for as much as they can get - you know that is what is going to happen when you get into the loan (you can't blame it on ignorance, this isn't subprime resi land anymore).