From first notice of default to final conveyance of property or loan resolution, complex transactions related to real property secured loans, such as real estate workouts and commercial mortgage-backed securities (CMBS) lending, require experienced representation.
Perkins Coie Solution
The Perkins Coie Real Estate Workouts practice represents lenders, loan servicers, and receivers in a variety of transactions relating to commercial loans secured by real property and/or business assets. The team has worked on thousands of real estate workouts located throughout the country involving billions of dollars of financing, including single asset workouts, multi-asset workouts, and multistate transactions.
Counseling clients since the advent of CMBS, the firm’s lending and real estate teams possess a plethora of experience in the vagaries of CMBS lending. Our commercial real estate lending team works with all aspects of income-producing commercial real estate, bringing to bear the extensive knowledge of our national team in the retail, hospitality, office, multifamily, mixed-use, and industrial and mobile home project spaces.
Our team knows the intricacies of dealing with single-purpose and bankruptcy-remote entities, cash management, structured reserves, nonconsolidation opinions, and real estate mortgage investment conduit (REMIC) issues, among a variety of other concerns that may arise in a real estate workout transaction. As members of our team have also acted as “program counsel,” we understand the role of various players in the CMBS industry, from the rating agencies to piece buyers. We also possess a deep understanding of the “capital stack” and the rights and liabilities of various parties under pooling and servicing agreements that undergird the world of CMBS.
Areas of Focus