It does seem odd that a CMBS lender would finance a ~$80MM loan on a site this risky if it was this bad. I’ve worked in a special servicing (loan servicing for

It does seem odd that a CMBS lender would finance a ~$80MM loan on a site this risky if it was this bad. I’ve worked in a special servicing (loan servicing for troubled and REO assets) shop and overheard the headaches that an environmental survey caused an old gas station or dry-cleaner; that this continues to get resurrected is curious.