An Independent Director in CRE isn’t a strategist or advisor—it’s a safeguard. Their sole role is to protect lenders by maintaining bankruptcy remoteness and preventing unauthorized filings. Simply put: Independent Directors protect lenders; Board Directors protect equity.

In structured finance, ratings live or die on deal structure. One element agencies often require for investment-grade, especially on $20M+ deals, is an independent director. Here’s why that role curbs bankruptcy risk, strengthens SPEs, and lowers financing costs, and how SPE Specialists helps issuers meet the mark.

Independent directors are widely used to help maintain bankruptcy remoteness, but is their power to block a bankruptcy filing truly enforceable? U.S. bankruptcy law is built on the principle that any eligible entity should have access to the protection of the courts when facing financial distress.

101 Via Mizner Bankruptcy Ends in Fire Sale. Sold for $235M, well below the non-bankruptcy reported value and and Grant Cardone, which will be merging this asset with a $100MM bitcoin fund with a planned condo exit

Six months of legal battles, uncertainty, and value destruction, all avoidable with proper governance structures in place. In volatile markets, independent directors are insurance against exactly this scenario.

A NYC multifamily developer just combined dozen of entities and 5,000 units into a Chapter 11 bankruptcy filing - exactly what bankruptcy...

Independent Directors are individuals who are unaffiliated with the borrower or its corporate group and are appointed to serve on the board or governing body SPE.

In today’s fast-moving commercial real estate debt markets, timing is everything and the checklists are daunting. At SPE Specialists, we don’t just promise rapid execution, we deliver it. Last week, a sponsor came to us with a last-minute closing deadline and zero margin for error. In under 24 hours, our team had everything in place to keep the deal on track.