Victoria J. Siesta

Revolving lines of credit present a financing structure alternative for developers and other borrowers who are active in the real estate marketplace and desire the ability to acquire, develop, sell, and refinance properties in their portfolios without having to enter into a new loan transaction each time. The revolving line of credit allows the borrower to draw funds as needed to finance the purchase of additional property or for other purposes, and pay down the loan balance should it sell property, without a requirement of defeasance or yield maintenance.

The panel of real estate finance attorneys discusses the legal issues and documentation of these credit facilities and the procedures for making draws and repayments (and obtaining releases). They will also discuss other attributes of these loans, which are typically short term with a floating interest rate and require interest rate hedging.

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