In one sentence
A structure where multiple properties secure multiple loans collectively, so each property backs the whole obligation.
The longer version
Cross-collateralized pools let a lender look to any property in the pool for any loan in the pool. It strengthens the lender's position and constrains the borrower's ability to sell or refinance individual assets.
Release provisions become critical: how a borrower frees one property from the pool, and at what paydown, is heavily negotiated and closely tracked.
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