The devil didn’t really go down to Georgia, it’s right there in the trap language in your loan docs.
Even the most skilled attorneys will have a hard time convincing lenders counsel to remove such language - and for their client to kill a deal over it because it’s well hidden and the money is just way too seductive.
Carl Icahn just filed a lawsuit that exposes how CMBS works behind the scenes. Every real estate borrower and counsel needs to read this cover to cover.
