Investor · Cypress, TX · Member since 2014 · 496 posts · 205 votes
11y
@Charles A. - neither the manager nor the company will suffer much in this. They could walk away right now and let the lender(s) sell it to another owner for the balance of the loan. The private investors he mentioned will lose their invested capital, but chances are pretty good most of them already received more cash than they put in.
If this goes on the block, will you have your own syndication lined up to take it over and turn it into a performing property with more conscientious management? I smell an opportunity coming - maybe. It is government subsidized, which means it will be management and paperwork intensive - especially after this disaster.