Podcasts

As CMBS and CRE CLO maturities continue to pressure the commercial real estate market, borrowers are facing a new reality: waiting is no longer a strategy. In a recent episode of Seyfarth Shaw’s The Property Line podcast, Brighton Capital Advisors Managing Partner Michael Cohen discussed the refinancing challenges, special servicing risks, and asset class pressures shaping today’s market.

From overleveraged multifamily and strained office assets to hotel loans facing higher expenses and tighter capital, Cohen makes clear that borrowers need to act early, approach lenders with a credible plan, and understand their options before the process moves out of their control.

In a recent episode of Deutsche Bank Research’s Structured Thoughts podcast, our Managing Partner Michael Cohen sat down with Ed Reardon, Head of Securitization Research at Deutsche Bank, for a candid conversation about what commercial real estate borrowers are actually facing as loans mature in 2026.

The framing of the discussion is one most market participants recognize right now: the “two-speed” environment. On one side, new issue CMBS has looked increasingly healthy, with stronger execution and tightening spreads. On the other side, a meaningful set of maturing loans still cannot refinance cleanly, especially in office, where payoff rates have lagged the broader market.

In Part 2 of the Commercial Real Estate Secrets podcast, Brighton Capital Advisors Managing Principal Michael Cohen expands on the realities borrowers face once market stress meets inaction. While Part 1 explored the fundamentals of CMBS and the servicing framework behind it, this segment focuses on liquidity, distress across property types, and the consequences of waiting too long to open a dialogue with a servicer.

On part 1 of this Commercial Real Estate Secrets podcast, Michael Cohen, Managing Director of Brighton Capital Advisors, shares his perspective on how CMBS is functioning in today’s environment and where real opportunity exists. Drawing on more than thirty years in CMBS and special servicing, Cohen gives practical insight into borrower challenges, investor strategies, and the processes that drive outcomes in a tightening capital market.

In episode 77 of Real Talk with Andrew Kirsh, Michael Cohen, Managing Director of Brighton Capital Advisors, shared his perspective on the state of CMBS lending and the challenges borrowers face in today’s market. With more than three decades of experience in CMBS origination, servicing, and advisory roles, Cohen, a pioneer in the CMBS Industry,  provided actionable insights into how borrowers can protect themselves in a rapidly shifting environment.

Highlights from the Video

“What does Brighton Capital Advisors do?”

“How can Brighton Capital Advisors best help clients?”

“So, when should I call BCA?”

“Should I just go into default?”

On a recent episode of Building Better Communities, Brighton Capital Advisors’ Managing Partner Michael Cohen sat down with Bob Hart, CEO of TruAmerica Multifamily, and Andrew Kirsh, Co-Chairman of Sklar Kirsh LLP, to discuss the evolving commercial real estate financing environment. The conversation traced the origins of commercial mortgage-backed securities (CMBS), examined the structural challenges borrowers face today, and highlighted how Brighton Capital Advisors helps clients navigate complex loan workouts and modifications

Highlights from the Video

“Get to us 6 to 9 months prior to your loan maturity.”

“There are no programatic solutions right now.”

“You’re dealing with inflexibility.”

“Special Servicers aren’t the villain.”