5/26/2010

Retail borrowers with loans in distress need to get serious with lenders and present a plan for restructuring, according to panelists at a session held at RECon. "Lenders want to see borrowers who come in and are not pretending, but who have a plan for correcting" the situation, said attorney Andrea Ascher, a partner with Proskauer Rose. More straightforward tactics will become increasingly necessary as about 70% of shopping center debt will mature by 2013 -- a significant portion of it unable to find adequate refinancing.

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