Business Better Podcast Episode: Distressed Office Buildings: A Look at Workout and Enforcement
Distressed mergers and acquisitions (M&A) involve companies in financial or operational distress, potentially on the brink of insolvency or already grappling with significant debt burdens. These transactions are typically...more
Florida has attracted a lot of investors buying homes to rent out, as well as persons buying vacation or second homes. Additionally, some owners downsize or upsize their homes, keeping and renting out their old home after...more
BCLP’s Pan-European Real Estate team hosted a round-table event on 27 February 2024 with several Managing Directors at Alvarez & Marsal to discuss the European commercial real estate market, including the latest developments...more
Realigning an underperforming property and its attendant financing takes a high degree of detailed knowledge not only of the particular building, but the market and industry as a whole. In this episode, five members of our...more
Historically, Arizona courts have granted receivers certain powers and duties related to commercial real estate and certain residential property in accordance with A.R.S. § 12-1241,1 and A.R.S. § 12-1242.2 For example,...more
What is a scheme? A compromise or arrangement between a company and any class or classes of its creditors (and/or shareholders). The process broadly mirrors an English scheme of arrangement thereby providing legal...more
Given the current economic environment, it is no surprise that “distressed debt” is once again becoming a favorite catch phrase and a frequent topic of discussion among real estate professionals. For some, this may evoke a...more
The “Nursing Home Covid-19 Data Dashboard” maintained by the Centers for Disease Control and Prevention (CDC) shows that COVID-19 had an unusually intense impact on the long term care community. Cases among nursing home...more
Summary - A wave of distressed real estate and distressed loans is likely to materialize as borrowers and lenders alike seek a quicker exit from loan default situations or are interested in reducing their overall risk...more
We recently discussed the importance of diligence when acquiring distressed commercial mortgage loans, providing a diligence checklist for the process. Given that any foreclosing mezzanine lender may step “into ownership” if...more
Virginia’s Department of Environmental Quality (“VDEQ”) announced via its email newsletter that it will resume issuance of Bona Fide Prospective Purchase (“BFPP”) and other “Comfort Letters” beginning September 1, 2022. This...more
The private real estate industry has been anticipating distress since the start of the pandemic. But as governments passed emergency measures to keep the economy afloat, the prospect of widespread distress receded. ...more
The Ohio Department of Development (ODOD) released rules and associated program guideline documents (Brownfield Remediation and Building Demolition and Site Revitalization) to govern the disbursement of $500 million in total...more
In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more
As we enter year two of the COVID-19 pandemic, the number of new Chapter 11 cases being commenced has slowed to a trickle. But the cycle will turn again. There are always companies that lose a major customer, fail to adapt to...more
Bankruptcy cases involving commercial real estate present a multitude of problems. Those problems typically arise in the context of voluntary cases filed under chapter 11 of the Bankruptcy Code, 11 U.S.C. §§ 101-1532...more
Ohio’s new biennial budget, signed into law by Governor DeWine on June 30, brings good news for the redevelopment of brownfields and other distressed properties in Ohio. Ohio Revised Code (“R.C.”) section 122.6511 institutes...more
In episode #29 of Industry Insights podcast, Andrew Weiner joins host Joel Simon for the second episode of our two-part examination of the Corporate Transparency Act (CTA). In this episode, Weiner turns his attention to the...more
The COVID-19 pandemic has brought with it a host of novel legal issues, and just as nature abhors a vacuum, the legal profession abhors a lack of precedent. A case in point relates to mezzanine loan foreclosure sales under...more
It is hard to pick any event or series of events that has adversely impacted the hospitality industry as hard as the COVID-19 pandemic. While the summer witnessed increased RevPAR in the U.S. as compared to the depths of...more
The COVID-19 pandemic may lead to a new round of distressed real estate and, consequently, a need for court-appointed receiverships....more
The COVID-19 pandemic has been wreaking havoc on the economy generally, and with respect to many asset classes of real estate, specifically, and the general consensus now is this unfortunate situation will not abate for some...more
The current economic downturn is expected to bring about a growing niche of investment opportunities in distressed infrastructure and energy assets and businesses. ...more
As I write this, it is sunny and 55 degrees. Realtors ordinarily would be calling back customers from the weekend open houses. The market should be not just brisk but frothy. In many markets, the inventory of housing has...more
By now it’s no secret that the spread of COVID-19 will likely continue to significantly curtail travel. As airlines suffer, so too will hotels. For lenders, cancellations and reduced bookings will mean reduced cash flow...more