Stacy Ackermann, a leader of K&L Gates’ global Finance practice area, recently co-authored a playbook with the Commercial Real Estate Finance Council (CREFC) that addresses the transition away from the London Interbank Offered Rate (LIBOR) this June.

The CREFC LIBOR Legacy Playbook is directed toward the commercial mortgage-backed securities (CMBS) community, and outlines processes and procedures related to the transition of floating rate debt away from a LIBOR index to an alternate index, the Secured Overnight Financing Rate (SOFR), which will be critical to commercial real estate and multifamily market participants.

Ackermann is chair of the CREFC’s Servicer’s Forum, which represents master, primary, and special servicers of CMBS conduit, SASB, CRE CLO, and Agency debt.