Game-Changing “W Strategy” Workout Presented in New Case Study

Real Estate News  | October 01, 2012

A new Columbia CaseWorks case by Fred Knapp ’12 and Lynne B. Sagalyn, “Battling Over a New York Workout: The W Hotel Strategy” sets up this true David-and-Goliath story in which the most junior player in the highly leveraged capital stack ended up being made whole on its loan. The saga of the $232-million mortgage and mezzanine debt financing, now known as the “W Strategy,” is one that changed practice, becoming significant in the annals of Uniform Commercial Code foreclosures and bankruptcy transactions.

Topics: Real Estate, Strategy | Read Article

First In Trouble -- and Last Out

Real Estate News  | September 25, 2012

Why are the homeowners who can most benefit from strategic default on underwater mortgages the least likely to choose it?

Topics: Business Economics and Public Policy, Real Estate, Risk Management, Strategy | Read Article