The Impact of Strategic Group’s Creditor Protection Filing on CMBS Loans
On December 11, 2019, Strategic Group, LLC (Strategic Group or the Company), a Calgary-based real estate investment firm, submitted an initial application filing under Canada’s Companies’ Creditors Arrangement Act (CCAA). The filing affects 50 named entities and associated commercial properties within the Company’s 171-property portfolio. Five of the affected Calgary office properties secure commercial mortgage-backed security (CMBS) debt within our rated book.
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