Clients rely on our sound legal advice and experience representing all segments of the capital stack – including developers, owners, lenders and investors – to help them navigate real estate-driven restructurings, distressed debt transactions and bankruptcies.
Our real estate workouts, restructurings and distressed debt group applies its decades of experience representing lenders, borrowers and equity investors in workouts, bankruptcies, other litigations, restructurings, recapitalizations and UCC and mortgage foreclosures at every point of the business and real estate life cycle. Our interdisciplinary team comprises lawyers from our real estate, litigation, bankruptcy and restructuring, tax, special situations, banking and finance and land use practices.
We have extensive experience resolving concerns specific to lenders, real estate owners and developers, large financial institutions, private equity and hedge fund investors, insurance companies and government agencies. We take the same practical approach to restructuring as we do with respect to the original transactions.
Additionally, our pre-eminent condominiums practice (which is also the largest in New York State) affords us the insight to provide unique guidance in restructuring workouts and recapitalizations involving condominium and co-operative projects, which can impact the value of the underlying assets being restructured.
Our team has represented a variety of creditors and numerous creditors’ committees in complex and contested bankruptcies involving real estate assets and distressed debt. For example, we advised the official committee of unsecured creditors of Eagle Hospitality, a large REIT that owned and operated hotels throughout the US. We also routinely advise real estate investors seeking to acquire real estate assets or distressed debt of borrowers that have filed (or may file) for Chapter 11. In addition, we counsel sophisticated lenders seeking to provide exit financing or DIP loans to Chapter 11 debtors with large real estate portfolios.
