Workouts, Restructuring and Enforcement Actions – Representative Transactions

Represented distressed borrower in connection with the extension and modification of a $85,000,000 mortgage loan and $22,000,000 mezzanine loan.

Represented borrower in connection with the acquisition of a $65,000,000 portfolio of distressed first mortgage and mezzanine loans at a discount from a balance sheet lender.

Represented an institutional lender in the negotiation of a forbearance and settlement agreement relating to a defaulted $102,000,000 loan secured by an oceanfront property.

Represented borrower in the negotiation of a forbearance agreement and loan modification in connection with a $50,000,000 mezzanine loan and $100,000,000 secured by a pledge of interests and mortgage on a hospitality asset.

Represented a mezzanine lender in the foreclosure of its security interest in collateral consisting of a 100% membership interest in a company that held fee title to an office property. The representation included the subsequent assumption by the mezzanine lender of the $40 million senior loan that was secured by a mortgage on the office property.

Represented guarantors in a settlement in connection with a full recourse land loan on a $45,000,000 development parcel in New York City.

Represented a private lender in the workout of two mortgage loans totaling $85,000,000, including the acceptance of a profits interest in the owners of the mortgaged property.

Represented an institutional lender in the proposed workout of a $35,000,000 loan secured by a proposed resort condominium property and the subsequent commencement of foreclosure proceedings.

Represented a bank in the workout of a series of loans to a single borrower totaling $165,000,000, including acceptance of three deeds-in-lieu of foreclosure, three second mortgages, and a first mortgage on an additional property.