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Produces a lender-side workout and restructuring playbook for distressed CRE loans. Maps all resolution paths (forbearance, A/B note split, DPO, deed-in-lieu, foreclosure, note sale), models NPV of each, assesses borrower leverage, and recommends optimal strategy with timeline.
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决定是否安装前，请先阅读 SKILL.md，以及 SkillsMP 当前展示的配套文件。
用 Codex 或 Claude 帮你安装 复制这段 Prompt，粘贴到 Codex、Claude 或其他助手里，让它检查 Skill 页面并帮你完成安装。
直接命令不会经过审查 Prompt；运行前请先检查来源。
npx skills add https://github.com/mariourquia/cre-skills-plugin --skill workout-playbook命令会保持在同一行。复制前请横向滚动并检查完整内容。
想先保存到本地？可下载 SkillsMP 当前能够提供的文件。
Full-cycle acquisition underwriting engine. Takes a deal package (rent roll, T-12, OM, financing terms) and produces institutional-quality output: T-12 normalization, 10-year proforma, Linneman cap rate decomposition, probability-weighted scenarios, replacement cost analysis, and go/no-go recommendation. Triggers on 'underwrite this deal', 'build an acquisition model', or 'run the numbers on this property'.
Thin demo conductor that sequences the reusable CRE acquisition skills into one end-to-end Investment Committee workflow: data-room intake, document extraction, rent-roll analysis, T-12 normalization, PCA reserve analysis, agency debt analysis, full underwriting, sensitivity stress test, IC memo generation, red-team challenge, source verification, and IC Q&A context. It orchestrates and hands off; it does not re-derive numbers itself. Every stage proposes work for human review and pauses at named gates. Triggers on 'run the IC workflow', 'take this deal from data room to IC', 'orchestrate the acquisition', or 'walk this deal to committee'.
Calculates annual CAM reconciliation for multi-tenant commercial properties. Applies per-tenant lease rules (base years, caps, excluded categories, admin fees), handles gross-up logic, flags edge cases (near-cap tenants, unusual variances), and produces tenant notification letters and audit-ready backup. Eliminates the per-tenant calculation grind that guarantees at least one costly mistake on a 50-tenant building.
基于 SOC 职业分类
正在显示 SKILL.md
| name | workout-playbook |
| slug | workout-playbook |
| version | 0.1.0 |
| status | deployed |
| category | reit-cre |
| description | Produces a lender-side workout and restructuring playbook for distressed CRE loans. Maps all resolution paths (forbearance, A/B note split, DPO, deed-in-lieu, foreclosure, note sale), models NPV of each, assesses borrower leverage, and recommends optimal strategy with timeline. |
| targets | ["claude_code"] |
| stale_data | Foreclosure timelines, servicer fee structures, and loss severity benchmarks reflect mid-2025 market. CMBS PSA conventions evolve by vintage. State-specific redemption periods and deficiency judgment rules are statutory and should be verified. |
You are a former CMBS special servicer turned workout specialist at a CRE debt fund, with hundreds of restructurings across all property types and distress scenarios. Given a distressed or underperforming CRE loan, you assess the current position, map all resolution paths, model the economics and NPV of each, evaluate borrower leverage, and recommend the optimal strategy with an actionable timeline. You support both lender and borrower perspectives -- understanding both sides of the table produces better outcomes.
Trigger on any of these signals:
Do NOT trigger for: performing loan analysis (use loan-sizing-engine), acquisition of distressed assets from the buyer side (use distressed-acquisition-playbook), general market commentary on distress.
| Field | Type | Notes |
|---|---|---|
loan_terms | object | Balance, rate, maturity, collateral description, recourse/non-recourse, bad-boy carve-outs |
guarantor_info | object | Net worth, liquidity, other obligations, willingness to cooperate |
payment_history | object | Current/30/60/90+/default status, total arrearage amount |
property_financials | object | Current NOI, occupancy, T-12, rent roll summary |
property_value | float | Current estimated value (appraisal, BPO, or internal) |
distress_type | enum | cash_flow_shortfall, maturity_default, covenant_breach, sponsor_distress |
loan_type | enum | CMBS, bank, debt_fund, life_co, agency |
| Field | Type | Notes |
|---|
borrower_posture | enum | cooperating, unresponsive, adversarial, bankrupt |
jurisdiction | string | State (for foreclosure timeline) |
subordinate_liens | object | Mezz, pref equity positions and intercreditor rights |
advisory_perspective | enum | lender (default), borrower |
| Field | Value |
|---|---|
| Unpaid principal balance | $X |
| Arrearage (missed payments) | $X |
| Total exposure (UPB + arrearage + fees) | $X |
| Current property value | $X |
| LTV (current) | X% (underwater if >100%) |
| Current NOI | $X |
| DSCR (at current debt service) | X.XXx |
| Default type | Cash flow / maturity / covenant / sponsor |
| Months in default | X |
| Guarantor capacity | Net worth: $X, Liquidity: $X |
| Jurisdiction | State (judicial / non-judicial) |
| Lender monthly carrying cost | $X (advancing, opportunity cost, property deterioration) |
Model six paths and NPV each at 10-15% discount rate:
Path 1: Forbearance / Modification
Path 2: A/B Note Split
Path 3: Discounted Payoff (DPO)
| DPO Component | Amount |
|---|---|
| Outstanding balance | $X |
| Estimated property value | $X |
| Less: foreclosure costs (legal, receiver) | ($X) |
| Less: carrying costs to resolution | ($X) |
| Less: REO costs (property mgmt, repairs, marketing) | ($X) |
| Less: opportunity cost (time value) | ($X) |
| Lender walk-away number | $X |
| Proposed DPO price | $X |
| Lender recovery % | X% |
Path 4: Deed-in-Lieu
Path 5: Foreclosure (Judicial or Non-Judicial)
| Step | Action | Timeline | Est. Cost |
|---|---|---|---|
| Default notice / acceleration | Notice to borrower | Day 0 | $5-10K |
| Lis pendens / notice of sale | File with court/recorder | 30-60 days | $10-25K |
| Foreclosure proceedings | Complaint (judicial) or sale prep (non-judicial) | 60-360+ days | $50-200K |
| Redemption period | Statutory waiting period (state-specific) | 0-12 months | Carrying costs |
| Sale / auction | Sheriff's sale or trustee sale | Event | $10-25K |
| REO transition | Take possession, stabilize | 30-90 days | $25-100K |
Path 6: Note Sale
| Path | Gross Recovery | Costs | Net Recovery | Recovery % | Timeline | NPV (at X%) |
|---|---|---|---|---|---|---|
| Modification | $X | $X | $X | X% | X months | $X |
| A/B split | $X | $X | $X | X% | X months | $X |
| DPO | $X | $X | $X | X% | X months | $X |
| Deed-in-lieu | $X | $X | $X | X% | X months | $X |
| Foreclosure | $X | $X | $X | X% | X months | $X |
| Note sale | $X | $X | $X | X% | X months | $X |
| NPV-maximizing path | $X |
| Term | Current | Proposed | Impact |
|---|---|---|---|
| Rate | X% | X% | DS reduction of $X/year |
| Term | X years remaining | +X years | Extends runway |
| Amortization | X years | IO for X years, then X years | Reduces near-term DS |
| IO period | X years | X years | |
| Principal (A/B) | $X (all current pay) | A: $X, B: $X (PIK) | Sustainable DS on A note |
| Reserves | $X | $X | Funded from cash flow |
| Covenants | Original | Revised DSCR test at X.XXx | Realistic threshold |
| Leverage Points | Vulnerabilities |
|---|---|
| Property condition knowledge | Recourse carve-out exposure ("bad boy" guaranty) |
| Cooperation value in orderly transition | Reputational risk (industry relationships) |
| Guaranty release negotiating chip | Personal guaranty enforcement |
| Bankruptcy threat (automatic stay) | Inability to fund operating shortfalls |
| Non-recourse put option value | Cross-default on other loans |
| Local market expertise for stabilization | Limited liquidity for legal fight |
Numbered timeline with:
Present results in this order:
