The Carveout
Welcome to The Carveout, a FBT Gibbons legal blog geared toward sophisticated capital market participants and focused on the commercial real estate finance (CREF) industry, with a particular spotlight on what are often the most heavily negotiated and critical terms of CREF lending—non-recourse carveouts.
With that lens in mind, here you will gain perspective on current trends and developments with these provisions and how to effectively bring lenders and borrowers together to solve challenging negotiations. Our prevailing emphasis is on the kind of real-world application that helps you avoid undue risks and see critical deals to completion.
Latest Blog Posts
August 25, 2026 | Publications
As discussed in our prior post, carry guaranties are a key component of many kinds of real estate fi...
August 21, 2026 | Publications
Every property costs money to own: real estate taxes accrue, insurance premiums come due, loan inter...
August 21, 2026 | Publications
The CREF Roundup is a periodic digest of noteworthy developments, insights, and commentary in the wo...
August 7, 2026 | Publications
The CREF Roundup is a periodic digest of noteworthy developments, insights, and commentary in the wo...
July 24, 2026 | Publications
The CREF Roundup is a periodic digest of noteworthy developments, insights, and commentary in the wo...
July 10, 2026 | Publications
The CREF Roundup is a periodic digest of noteworthy developments, insights, and commentary in the wo...
June 26, 2026 | Publications
The CREF Roundup is a periodic digest of noteworthy developments, insights, and commentary in the wo...
June 15, 2026 | Publications
Are you the owner of a flagged hotel with a commercial mortgage-backed securities (CMBS) loan maturi...
June 12, 2026 | Finance Industry Blogs
Changing market conditions have pushed many real estate borrowers and lenders to rethink how capital...
June 12, 2026 | Publications
The CREF Roundup is a periodic digest of noteworthy developments, insights, and commentary in the wo...
June 5, 2026 | Publications
In a time where the financial markets seem to shift with each breaking headline, understanding the b...
May 29, 2026 | Publications
The CREF Roundup is a periodic digest of noteworthy developments, insights, and commentary in the wo...
May 19, 2026 | Finance Industry Blogs
This is an installment in our series on debt-for-equity exchanges. The first article, “Commercial ...
May 15, 2026 | Publications
The CREF Roundup is a periodic digest of noteworthy developments, insights, and commentary in the wo...
Your Carveout Contacts
Partner
Louisville, KY
Partner
Louisville, KY
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