Press Release

Ballard Spahr Creates Team Focused on Distressed Office Buildings

May 22, 2023

Across the country, those with investments in office buildings—owners, investors, tenants, lenders, and bondholders—are staring down a perfect storm of distress: rising interest rates, record-high vacancies and operating costs, constrained capital, and more than $900 billion in commercial real estate debt set to mature. Meanwhile, others see opportunity.

To help clients navigate those challenges, Ballard Spahr has formed a cross-disciplinary team of attorneys focused specifically on Distressed Office Buildings. The group brings together lawyers with specific skill and experience in real estate, finance, leasing, enforcement, and bankruptcy matters involving office buildings.

“We’re working with a range of lender, borrower, and investor clients across the country who are proactively analyzing and addressing a variety of office building debt and equity investments—and related rights and obligations—in order to determine and implement potential restructuring and resolution options,” said Ballard Spahr Finance Department Co-Chair Dominic J. De Simone, who co-leads the firm’s Distressed Assets and Opportunities group. “Many are considering deal modifications and recapitalizations, building conversions and redevelopment, and enforcement options. Others are pursuing strategic lending, investment, and rescue capital opportunities. Office properties and related debt and equity structures and documentation have specific issues and nuances. We felt it was best to combine resources into a single team to help clients most effectively address these situations and opportunities.”

Ballard Spahr is known for its work with distressed real estate. Established more than a decade ago, the team successfully helped a wide range of clients navigate the last market downturn, ongoing COVID-19-related disruptions, and current market challenges arising from increasing interest rates and construction costs, the impact of an inflationary environment, and recent disruption in the commercial banking market.

To read more about our Distressed Office Buildings Team, click here.

For media inquiries, please contact Bill Shralow at 215.864.8195.

Subscribe to Ballard Spahr Mailing Lists

Get the latest significant legal alerts, news, webinars, and insights that affect your industry. 
Subscribe