Special servicers

In times of crisis for real estate debt, loan servicers’ expertise is called upon to resolve difficult situations. In the US, where a large proportion of property debt is securitised, many loans have been transferred into the hands of special servicers since the onset of covid-19. In Europe, where most debt is in bilateral or syndicated structures, defaults have so far been staved off, but special servicers are ready to act. We talk to servicers in the US and Europe about how troubled loans might be fixed.