Distressed Real Estate
Our Distressed Real Estate team is a longstanding national leader in handling and resolving distressed real estate matters. Established more than a decade ago, the team successfully helped a wide range of clients navigate the last market downturn and has been guiding them through COVID-19 related disruptions and, now, through current market challenges arising from increasing interest rates and construction costs, and the impact of an inflationary and, potentially, recessionary environment.
The firm’s Distressed Real Estate team draws on talent and experience from both transactional and litigation practices to create a multidisciplinary, results-focused team that works closely with lenders, servicers, investors, developers, owners, landlords, tenants, trustees, and receivers to design and implement the best approaches to resolving troubled real estate investments and loans and related disputes. The team also advises on opportunistic investing, rescue capital transactions, distressed loan purchases, and bankruptcy matters.
- Representation of a national special servicer in the workout and restructuring of a $130 million first mortgage loan on a 1,000-plus-unit residential rental project. This transaction involved an A/B note split of the loan, modification to the cash management arrangement, modifications to address the bankruptcy of the sponsor's holding company, and REMIC-related matters
- Representation of a federal court-appointed receiver in all facets of a multi-property, multi-state receivership in connection with the operation, preservation, and disposition of 22 residential development projects, including 11 projects in Pennsylvania, involving approximately 848 residential units/lots
- Representation of one of the nation’s largest commercial loan special servicers in a foreclosure and receiver action involving assisted-living facilities and the ultimate disposition of the facilities by the receiver