Real Estate Asset Management Problem

P​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​er the attached memo, the AM has analyzed the various exit options re this defaulted loan. The AM recommended a loan/note sale which would produce a 90% recovery of the outstanding loan balance. What if the note sale recovery is 7​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​5%? Do you as the AM recommend a note sale or do you recommend another option (foreclosure/sell REO, loan workout/restructure) seeking a higher recovery? Students will provide their analysis and rationale for their recommendation​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​.