Twitter’s Cost-Cutting Efforts Are Hitting an Obscure Group of Investors
- Mortgage for Twitter’s main office is packaged into CMBS
- Some of the securities drop to 85 cents on the dollar
“If Shorenstein and others on the hook for repayments fail to repay the mortgage loan again in January, lenders have a handful of options to try to ensure they get paid. That could include giving the borrowers more time to repay bondholders in exchange for other borrower concessions and equity contributions, or foreclosing on the building and selling it,” said Michael Cohen, managing partner at Brighton Capital Advisors.
