I'm looking to learn more about the B-Piece buying space. How do funds value a b-piece? Do they get involved with the owner/operator in the event of a default or need of a turnaround? Are they required to hold for the entire 10 yr period? Are agency b-piece buyers separate from buyers ofCMBS b-pieces or are they typically housed in the same group at the hedge fund / asset manager? Are the skills transferable to different RE jobs or do people stay in the space once they are there?'
I know its annoying to launch a bunch of questions like that so feel free to ignore the above. If someone has a book/website that is a good introduction to the space that would be helpful. Or If you have experience selling b-pieces at an Agency or BB / buying b-pieces at an asset manager, have a friend that works in the industry etc. please chime in. Any insight is appreciated