REITBull

Is There a REIT Reverse Inquiry Conspiracy?

Thanks Rigged.

Is There a REIT Reverse Inquiry Conspiracy?

This Game is so Rigged,

Maybe you can help me out on this....I do not have much experience with BK's. GGP's CMBS holders declared bankruptcy shortly after GGP filed. My understanding is that the properties were held in a single purpose entity. I believe that the CMBS holders declared BK for their respective SPE to prevent them from being crammed down by a judge in the GGP bankruptcy. Chances are the CMBS lenders would do better with a special servicer. Do you know if this accurate? As you can tell I am a little fuzzy on this. Thanks

On Apr 27 02:18 PM This Game is so Rigged wrote:

> @ wobatus
>
> I think we have a vocabulary misunderstanding.
>
> Secured, in this case, are mortgagors. They will foreclose and take/sell
> the specific underlying properties.
>
> DIP lenders will become the new senior unsecured debt holders.<br/>
>
> Unsecured, old-senior debt holders will get "bent over - crammed
> down - offered new bonds at less favorable rates - converted to common
> - whatever you want to call it" in favor of the common shareholders
> (current management).
>
> The common shareholders (who ought to be wiped out entirely), won't
> be (hence Ackman saying he expects the common of GGP to emerge intact).