CMBS Explained: Trusts, Servicers & Real Strategy in 2026

Billions in CMBS loans are coming due in 2026 — and most borrowers still don’t understand how the system really works.

In this episode, Aviva Sonenreich sits down with Michael Cohen, Managing Principal at Brighton Capital Advisors, to break down how CMBS trusts, servicers, and bondholders interact — and what borrowers must do to protect their equity.

Highlights:

• How CMBS trusts actually function (and who really owns your loan)
• Why calling your servicer is like dialing 1-800-MORTGAGE
• The biggest mistake borrowers make when entering special servicing
• How to approach CMBS workouts and loan modifications strategically
• Why CMBS remains one of the few active lending channels heading into 2026

Perfect For:

Borrowers with CMBS loans coming due, investors looking for distress before it hits auction, and anyone trying to understand what’s really driving the 2026 debt market.