The Real Deal reported that South Florida’s retail industry faces billions of dollars in commercial mortgage-backed securities debt coming due. As they continue to struggle amid the coronavirus pandemic, many retail properties could fall into debt or could be taken over by other operators.
Lee Mackson, Chair of Shutts & Bowen’s Creditors’ Rights & Bankruptcy practice group, believes borrowers can still gain forbearance on loans.
“You are still seeing lenders in the CMBS world [that] are very willing to work with borrowers and will give them time,” he stated.
To read the full article, please click here.
About Lee Mackson
Lee D. Mackson is a partner in the Miami office of Shutts & Bowen LLP and Chair of the Creditors’ Rights/Bankruptcy Practice Group. With more than 36 years of experience, Lee advises clients in ways to resolve a variety of complex business disputes in court, arbitration and negotiation, including workouts, commercial foreclosures and trials. Lee primarily represents financial institutions in real estate and banking litigation, among other industries. He represents numerous multi-state lenders and special servicers and has handled multi-million dollar commercial foreclosures. These cases often involve receiverships and rent sequestrations. Lee has also appeared before the United States Supreme Court.