TELESEMINAR: Restructuring Failed Real Estate Deals, Part 1 – A National Perspective
September 16, 2014
12:00 – 1:00 p.m.
1.00 MCLE hours
This program will provide you with a roadmap to the economics, practical and legal process, major tax and bankruptcy issues of restructuring failed commercial real estate projects. The program will discuss the economics of restructuring alternatives, determining which alternatives are most viable depending on the nature of the borrower/seller and lenders, and approaching lenders about a workout. The program will also provide a detailed discussion of specific restructuring alternatives and the tradeoffs of each, including straight buyouts, rescue capital/preferred securities, “loan to own” strategies, and more. The program will take a practical approach to how an attorney can help clients devise the best solution for rescuing a distressed real estate deal, negotiate and document the workout, and avoid the most adverse tax consequences. Part 1 of 2.
- Negotiating, structuring and drafting the restructuring of failed real estate projects
- Underlying economics and tradeoffs of real estate restructuring
- Types of sellers and their impact on restructuring – individual owner, institutional, joint venture, private equity
- Complications and limitations involving syndicated loans, CMBS loans, and REMICs
- Navigating seller issues – personal guaranties, ongoing management fees, upside participation, reputation
- Restructuring alternatives, including straight purchases, “Loan to Own,” rescue
William L. Norton, Bradley Arent Boult Cummings, LLP, Tennesse
Richard R. Goldberg, Ballard Spahr, LLP, Pennsylvania
Brian J. O'Connor, Venable, LLP, Maryland