David A. Barksdale

Real Estate, Distressed Real Estate, Construction, Planned Communities and Condominiums, Real Estate Development, Real Estate Finance, REITs, Resort and Hotel

David A. Barksdale is a partner in the Real Estate Department and co-partner-in-charge of the Distressed Real Estate Initiative. He focuses his practice on distressed real estate, real estate development, finance and construction, and secured finance.

Mr. Barksdale advises both lenders and borrowers on workouts and the financial restructuring of distressed real estate projects, including master planned and mixed-use developments, retail and office centers, casinos, hotels, industrial properties, and other types of commercial real estate. He represents financial institutions in loan restructurings, and private equity companies and investors in the purchase of distressed assets.

Mr. Barksdale has experience:

• advising institutional lenders and special servicers concerning workouts and restructurings of real estate structured finance
• advising lenders and investors on distressed asset acquisition and disposition, including loan sales
• representing investors and owners of distressed projects in the financing, development, construction, conversion, leasing, and disposition of commercial, residential, and mixed-use property

Representative Matters

• Represents a lender that provided bridge financing for an assisted-living facility in a matter involving enforcement of remedies, including foreclosure
• Represents a lender on a $66 million hotel construction loan in evaluating and exercising remedies against a defaulting borrower
• Represents a lender in the workout/foreclosure of a $55 million CMBS loan secured by a 60-acre retail power center
• Represents a lender in the workout and restructuring of a $95 million loan secured by a hotel
• Represents a group of senior secured lenders in workout and restructuring of a $470 million construction loan secured by a mixed-use retail and office center
• Represents a lender in connection with the termination of an $800 million revolving credit facility, which is a component of a $3 billion construction financing package for a hotel/condominium project
• Represented a private equity investment fund formed to purchase distressed unimproved and partially improved real property, including residential lots, from lenders, master plan developers, and regional and national home builders
• Represented the national developer of a master planned community in connection with various homebuilder bankruptcies and defaults under development and profit participation obligations
• Represented a joint venture partner in various commercial real estate development projects in connection with the workout and restructuring of more than $100 million in financing 
• Advised an owner concerning the acquisition of land in a land banking transaction, and development and entitlement issues in the context of the subsequent distressed financial condition of the master planned community in which the land is located
• Analyzed, negotiated, and documented workouts and financial restructurings of distressed master planned communities, and single-family residential, townhome, and condominium projects
• Represented a mezzanine lender concerning loan and potential equity participation in a financially distressed casino-hotel project, including enforcement of remedies
• Represented a hedge fund manager in connection with the organization and structure of a hedge fund formed to acquire distressed debt secured by real estate, including issues related to due diligence, acquisition, disposition, and enforcement of remedies
• Represented private lenders in connection with financing the acquisition and development of $100 million in land, including due diligence investigation and entitlement analysis, and enforcement issues and action with respect to financially distressed borrowers

Professional Activities

American Bar Association

State Bar of California

State Bar of Nevada

International Council of Shopping Centers (ICSC)

Urban Land Institute

National Association of Industrial and Office Properties

University of Nevada, Las Vegas, adjunct professor

Triple Five National Development Corporation, past General Counsel and Vice President

Recognition & Accomplishments

Chambers USA: America's Leading Lawyers for Business, real estate law, 2008-2010

The Best Lawyers in America, real estate law, 2010

Publications

"The Real Estate Workout Equation: What Both Parties Should Know," Nevada Business Journal, February 2008

Speaking Engagements

"Hand Over Keys vs. Sell vs. Restructure/Adding New Money: A Guide For The Equity Holder," Information Management Network, New York, New York, June 3, 2010

"Avoiding Legal Pitfalls When Crafting Modification Agreements," Strafford CLE Teleconference, April 20, 2010

"Effective Workout Strategies: Evaluating, Integrating and Addressing the Myriad Problems Involved with Troubled Projects," Innovative Approaches for Resolving Real Estate Defaults, Phoenix, March 12, 2010

"Special Servicer Perspective: Getting Through the CMBS Mess and Mezzanine Workouts," IMN (Information Management Network), Seventh Annual Winter Forum on Real Estate Opportunity & Private Fund Investing, Laguna Beach, California, January 14, 2010

"Commercial Real Estate Workouts and Remedies," Law Seminars International, Las Vegas, November 4, 2009

"Fishing for Distressed Assets in Stormy Waters: Being Prepared for What Lies Beneath the Surface," International Council of Shopping Centers (ICSC), 2009 U.S. Shopping Center Law Conference, Phoenix, October 21, 2009

"Outlook for Fund Investing in Distressed Real Estate Debt," 3rd Real Estate Private Equity Summit, iGlobal Forum, October 14, 2009

"Converting Distressed Real Estate Developments: Legal and Financial Considerations," Strafford Teleconference, September 10, 2009

"Today's World of Special Servicing and CMBS Workouts," Asset Advisory Alliance (A3) Summer Symposium, Newport Beach, California, August 21, 2009

"Commercial Real Estate Loan Workouts: Negotiating an Effective Workout Agreement in a Distressed Credit Market," Strafford CLE Teleconference, June 17, 2009

Speaker and panelist, "Project-Level Workouts: What are the Key Issues that Drive Negotiations?" 10th Annual U.S. Real Estate Opportunity & Private Fund Investing Forum, Information Management Network, New York, June 11, 2009

"Market Overview and Economic Outlook," Real Estate Restructuring, CLE International, Denver, May 7, 2009

"Commercial Real Estate Loan Workouts: Negotiating an Effective Workout Agreement in a Distressed Credit Market," Strafford CLE Teleconference, January 21, 2009

"Buying Land & Large Distressed Master-Planned Residential Projects," 2nd Florida Distressed Real Estate Symposium, Information Management Network, Hollywood, Florida, December 8, 2008

"Commercial Real Estate Loan Workouts: Negotiating an Effective Workout Agreement in a Distressed Credit Market," Strafford CLE Teleconference, November 11, 2008

"Alternative Use: Considering Retail & Non-Retail Options," Distressed Retail & Shopping Center Symposium, Information Management Network, Chicago, September 15, 2008

"Project-Level Workout Issues," Symposium on Distressed Real Estate, Information Management Network, Las Vegas, June 26, 2008

"Workout, Foreclosure & Bankruptcy Processes: A Practical, Legal Roadmap," The Forum on Distressed Real Estate, Information Management Network, Miami, March 18, 2008

"Real Estate Workout Basics," Association of Corporate Counsel, Las Vegas Chapter, February 26, 2008

"Issues Arising from the Similarities and Differences between CCRs and Easements and Uncertainty over the Best Approach To Take," Law Seminars International, Development Agreements, Easements and CCRs: Uses and Considerations in 2008, Phoenix, February 15, 2008

University of California Hastings College of the Law (J.D. 1988)

Oral Roberts University (B.A., B.S. 1985, magna cum laude)

California

Nevada