Corporate Real Estate Valuations

CMBS Appraisals

Appraisal Subordination Entitlement Reduction (ASER) or Collateral Valuation Adjustments (CVA) are CMBS structuring innovations designed to improve overall transaction credit quality. Appraisal Reductions were created in response to rating agency concerns that, without such an adjustment, cash flow from mortgages likely to default would be paid to the first-loss class. The rationale behind appraisal reductions is to support proactively the credit rating of senior CMBS tranches by reducing cash-flow payments to the subordinate tranches.

Financing Appraisals

Our bank financing appraisals stand the test of reasonableness. Accurate, well-written financing appraisals help eliminate costly delays in the financing process, and reduce the risk of losing a transaction altogether. Sonora Trading Company has extensive experience in preparing mortgage appraisals throughout the southern United States.