Even the best laid plans can encounter bumps in the road. Problems can and do happen in the commercial real estate world that require the revision of those plans, whether a force majeure event, major market turbulence or loss of a major tenant. Often it is best from a legal, business and practical perspective to work out solutions.
There are a number of options available to lenders and borrowers to resolve cash flow, market turbulence and other issues and ensure the eventual full satisfaction of a loan. Forbearance agreements, for example, can provide the structure for new credit or collateral enhancements in exchange for a pledge not to accelerate the loan, pursue foreclosure or take other remedies available under loan documents. Similarly, a loan modification can be used in some instances to rewrite the terms of the existing agreement.
Workouts, Refinancing and Restructuring Experience
Consistent with a broad and sophisticated real estate financing practice, our attorneys have years of experience in connection with the workout and restructuring of loans, including within the bankruptcy arena. We help lenders and borrowers restructure deals by exploring a wide range of options.
Laura Gangemi’s experience in restructuring includes:
- Representing a lender on origination, refinancing and multiple workouts of a $46 million senior mortgage loan for the development and construction of a condo-hotel in Miami Beach, Florida.
- Representing a lender in connection with a forbearance agreement on defaulted mortgage loans.
- Representing a Florida bank in connection with the bankruptcy of a Coral Gables, Florida hotel. Negotiating and effectuating a property sale under Section 363 of the Bankruptcy Code, free and clear of liens.
We represent clients nationally and internationally on a wide range of commercial real estate-related matters. We combine decades of experience to provide comprehensive legal experience and develop lasting professional relationships with our clients.
Our firm was built on the premise that sophisticated legal services associated with traditional big law practice are deliverable within the efficiency, adaptability and personalized approach of a boutique firm. Our attorneys efficiently and effectively assist the individuals and businesses we represent in a full spectrum of transactions. We find practical and creative solutions to problems and competing interests while ensuring that our clients’ goals are met and interests advanced and protected every step of the way.