Sunday, August 26, 2012

LNR versus the Universe

Our favorite CMBS blogster, well one of our top 2 favorites (I still am crushing on Misonzhnik), Mark Heschmeyer over at Co-Star highlights some of LNRs stats based on a WF report out last week.

  1. LNR has the highest liquidation-to-modification ratio of all the Specials at 11:1, up from 6.6:1 one year ago. The second highest is Berkadia @ 6:1, up from 5:1 last year.
  2. LNR is very active in selling off non-performing loans
  3. Has the highest average loan size for modified loans at $93.3mm
  4. One of the highest average loan size for liquidated loans, at $11.7mm
Check out his article for more.


crabsofsteel said...

From the CMBS perspective, even knowing who the special is can be unclear. But LNR is certainly the biggest, and perhaps the best.

Anonymous said...

From cmbs borrower side experience, LNR was a bit frustrating to work with early on (during the real fun of late 08' - 09') for some approval issues (major leases, etc). But they were frustrating only in the positions they took to protect the trust, which is more than understandable based on their duties. Compared to the special now and others dealt with over time, they are near the top as you can count on competency.