| Distressed Real Estate Solutions |
Our seasoned real estate practitioners bring extensive experience critical to the successful repositioning of real estate relationships made necessary by the current economic crisis, and to the representation of investors seeking value transactions in anticipation of future economic return. This skill set includes mortgage workouts, lease renegotiations, venture restructurings and loan collections, in concert with the firm’s strong bankruptcy, litigation and environmental risk management practices. We represent mortgagees and mezzanine lenders, developers, investors, landlords and tenants in different contexts, giving insight into the different imperatives that motivate the parties. Our deep experience in foreclosures has serviced the needs of institutional lenders, as well as investors using the acquisition of loans and exercise of remedies as a means to property acquisition. Our Fund Formation group is expert in the creation of investment vehicles for the acquisition of property, venture interests and loans. Representative experience includes:
- Representation of the holder of mezzanine debt in UCC foreclosure proceedings in California.
- Conducting over 75 foreclosures for institutional lenders and investors, with related litigation and bankruptcy, involving all real estate asset classes, including office buildings, multi-family apartments, hotels and industrial properties.
- Workouts and restructurings (and in several cases the associated foreclosures and sales of underlying assets) related to 15 loans aggregating $200+ million contributed to a troubled debt fund and secured by properties in seven states for a major state pension fund and its investment advisor.
- Representation of an acquirer of a $120 million mortgage loan and simultaneous deed-in-lieu for 15 of the 20 properties securing the loan.
- Representation of an institutional investor in the purchase of debt secured by a major Boston office tower and conduct of foreclosure as implementation of an acquisition strategy.
- Representation of a unit-holder in a real estate partnership controlled by an affiliate of a company facing significant liquidity issues in obtaining overdue redemption payments and in securing its claims (through receipt of first mortgage positions) pending redemption.
- Representation of an institutional advisor in litigation initiated by investors alleging breach of fiduciary duty and ERISA violations associated with distressed real estate investments, resulting in a successful structured settlement involving the disposition of various properties.
For further information on our distressed real estate expertise, please contact us.