As A&E Real Estate continues to try working out one of its problematic loans, bondholders are preparing to count the losses. Bondholders are facing an implied loss of more than $80 million on a $506 million commercial mortgage-backed securities loan backed by dozens of buildings in Douglas Eisenberg’s real estate portfolio, Bloomberg reported. KBRA Credit Profile analysts recently put a $460 million valuation on the portfolio, down significantly from the $717 million valuation when the bonds were sold. The specter of a rent freeze looms large over the portfolio, which is 86 percent rent-stabilized. Late last year, units were generating […]

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