If you’re an investor expecting to buy troubled assets through servicing, you’re probably going to have to wait a while, according to Michael T. Fay, principal, managing director and global head of Avison Young’s asset resolution team.

“The special servicers are going to take a while,” Fay says. “It’s going to take a least two years to work through that. The special servicers today, in my opinion, are trying to flatten their own curve.”

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