Ellen Marshall

Ellen R. Marshall is a partner at Manatt, Phelps & Phillips LLP, a national law firm with offices in Los Angeles, Orange County, San Francisco, Palo Alto, Sacramento, New York City, Albany, and Washington, D.C.

If CMBS loans are inconvenient in a good market, in a down market they can be remarkably problematic, subject to high fees, possibly subject to double taxation, and inflexible regarding modifications of terms. Read what to look for before borrowing.
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