Thacher Proffitt Publishes 'Distressed Commercial Real Estate Loans: Practical Wisdom for Identifying, Managing and Moving beyond Default Situations'

NEW YORK--(BUSINESS WIRE)--Thacher Proffitt & Wood LLP announced today the publication of “Distressed Commercial Real Estate Loans: Practical Wisdom for Identifying, Managing and Moving Beyond Default Situations”. Authored by Peter J. Mignone, a commercial real estate finance and distressed assets lawyer, the article provides lenders and investors with an efficient and results-based framework that considers today’s ever-shifting real estate environment.

Mr. Mignone said, “The commercial real estate sector has enjoyed many years of robust activity and, given the sector’s developments, coupled with tighter lending standards, it’s a good time to review best practices where commercial loans may be at risk of default. This article attempts to refamiliarize lenders and investors with the issues and considerations associated with distressed commercial real estate loans.”

When loans or assets are at risk of default, Thacher Proffitt counsels lenders and investors in distressed situations, including:

• Structuring and negotiating rescue and exit financing, including DIP lending and pre-bankruptcy forbearance arrangements, debt restructurings and other work-outs;
• Foreclosures, asset dispositions and other creditor remedies/debtor defenses;
• Formation of hedge funds, private equity vehicles and other investment structures for the acquisition of distressed assets;
• Acquisition and disposition of distressed debt and other claims, including corporate debt and structured finance securities (e.g., CDOs, SIVs, RMBS, CMBS and ABS), trade claims, lease products, equipment certificates and litigation claims;
• Negotiating, documenting and advising with respect to distressed loan and claims trading;
• Advice and implementation of solutions for all related issues, including derivatives, tax and regulatory compliance;
• Employing all necessary means to realize on purchased assets, through restructuring, litigation and/or bankruptcy; and
• Ensuring that entities who acquire distressed assets are properly licensed and comply with all applicable regulatory requirements.

Thacher Proffitt also represents lenders and investors in commercial loan origination and related financing, including:

• Mortgage, mezzanine and preferred equity structured transactions for office, hotel, retail, multi-family and industrial;
• Loan syndications, often involving commercial mortgage loans syndicated to investors in other countries;
• Multi-property mortgage financings (often as floating or fixed-rate loans that are securitized);
• Construction loans; and
• Buying and selling of mortgage loans and notes, mezzanine loans and notes, and participation interests in mortgage and mezzanine loans.

Useful Resources

• “Distressed Commercial Real Estate Loans: Practical Wisdom for Identifying, Managing and Moving Beyond Default Situations,” a Thacher Proffitt publication authored by Peter J. Mignone
• Learn about the author, Peter J. Mignone
• “Proposed REMIC Rules on Modification of Commercial Mortgage Loans,” a Thacher Proffitt publication authored by Mason L. Crocker, Andrea N. Mandell and Jeffrey H. Koppele
• “Distressed Residential Mortgage Loans and RMBS: Navigating Risk When Purchasing and Selling Portfolios,” a Thacher Proffitt publication authored by Salvatore O. Franco, Richard D. Simonds, Jr.
• Learn about our Distressed Assets Group

Lawyers that focus in real estate finance and distressed situations include:

Kenneth P. Addeo Charles R. Berman Stephen J. Cerniglia Jerome J. Dano John P. Doherty Louis A. Evans Jonathan D. Forstot David S. Hall Richard F. Hans Thomas J. Infurna Kenneth E. Lee

Samuel S. Lee Thomas M. Leslie Hugh McDonald Peter J. Mignone Gregory P. Murphy Joseph S. Nicotra Donald F. Simone Patrick J. Smith Trisha L. Smith George R. Talarico Michael J. Vitolo Mitchell G. Williams

About Thacher Proffitt & Wood LLP

Founded in 1848, Thacher Proffitt has more than 250 lawyers in four locations - New York, NY, Washington, DC, White Plains, NY, and Summit, NJ. We advise clients domestically and internationally on a range of matters involving: banking, bankruptcy, compensation and benefits, corporate and securities, international, litigation and dispute resolution (including subprime), real estate, structured finance, tax, technology and intellectual property, and trusts and estates. Learn more about our creative legal solutions at www.tpw.com, including our industry awards and rankings.