What is a Single Asset Real Estate Debtor?
Just like it sounds, a Single asset real estate Debtor owns a single real estate asset such as an apartment complex, shopping center or strip mall, or similar property. These so named single asset real estate debtors are subject to special provisions of the Bankruptcy Code. The term “single asset real estate” is defined as “a single property or project, other than residential real property with fewer than four residential units, which generates substantially all of the gross income of a debtor who is not a family farmer and on which no substantial business is being conducted by a debtor other than the business of operating the real property and activities incidental.
