Adam Friedman Quoted in Law360 on Spiking CMBS Distress

Adam Friedman, Partner and Chair of the firm’s Bankruptcy & Financial Restructuring and Distressed Real Estate Practices, was quoted in a Law360 article (subscription required) on the indicators of distress for commercial mortgage-backed securities (CMBS) surpassing levels seen in that sector during the Great Recession, with CMBS distress increasing each month for the past six months and delinquency rates for multifamily and office buildings spiking in recent months. Adam notes that loan extensions have created a  “whole community of borrowers and buildings that have just kicked the can down the road” without solving the real issue of right-sizing and modifying the loan.