CMBS
Sonnenschein's Capital Markets attorneys are pioneers in the CMBS market. We filed the first commercial mortgage loan shelf registration statement in 1993 and represented the issuer in the first take down from that shelf. We also represented the first major Wall Street commercial mortgage loan conduit purchaser, and represented the underwriter in the first Fannie Mae ACES™ multifamily swap. In addition, we developed numerous standard forms of syndication and servicing agreements that are widely used in the commercial mortgage market, including:
- participation, intercreditor and co-lender agreements,
- co-origination agreements,
- trust and servicing agreements,
- pooling and servicing agreements,
- interim servicing agreements and
- origination and purchase program documents.
We remain a leader in the developing secondary market for and securitization of commercial mortgage loans. Sonnenschein’s Capital Markets attorneys have represented issuers, underwriters, originators and loan sellers in public and private commercial mortgage securitizations, including: large loan, single asset, conduit, floating rate, small balance, seasoned loan and franchise loan transactions. We continue to develop standard documentation that is widely used in the commercial mortgage structured finance industry.
In addition to seasoned portfolio purchases, Sonnenschein’s Capital Markets attorneys handle direct commercial loan origination into the secondary market for commercial banks, insurance companies and investment banks.
