dcsimg Distressed Real Estate

Distressed Real Estate

The current state of the real estate market has created both challenges and opportunities. From the first hint of trouble for a lender with real estate assets on a watch list, or for an owner who has real estate floundering through workout, bankruptcy or litigation, McGuireWoods’ Distressed Real Estate team provides a highly skilled, integrated team of transactional, bankruptcy and litigation lawyers to take problem real estate assets and turn them into income producing successes for our clients.

Our attorneys provide nationwide counsel and interdisciplinary solutions to a broad range of clients including lenders, private equity investors, specialty finance firms, borrowers, debtors, developers, municipalities, investment banks, landlords and tenants.

Our capabilities include:

Pre-workout Services

For our lender clients we perform pre-workout analyses for troubled loans, loan portfolios and lender liability avoidance by utilizing the experience of our seasoned real estate practitioners. Coupled with our environmental, corporate and tax lawyers as needed, our team regularly assists clients in performing rapid due diligence reviews for key components. For our borrower or debtor clients sensing trouble for their assets, we perform due diligence and asset clean up, develop alternative strategies to address lender concerns, and if necessary, provide pre-bankruptcy planning.

Workout

In troubled real estate workouts we help our clients identify and implement a wide array of solutions for their specific needs. We assist both our lender and borrower clients with all aspects of loan workouts, including forbearances, loan modifications, project entitlement and development issues, and negotiations to bring the lender, borrower and other interested parties together to successfully restructure and document their deal. We also provide counsel in all types of real estate matters in bankruptcy, including single asset real estate case issues, adequate protection of the lender’s interest in collateral, stays against lien enforcement, valuation of collateral, assumption or rejection of leases, and restructuring loan terms through a confirmed plan of reorganization.

Enforcement Actions

When enforcement actions are necessary, our collaborative team of skilled bankruptcy, litigation and real estate lawyers work closely and efficiently to pinpoint the most effective remedies for our lender. For example, our team regularly handles a variety of matters including judicial and non-judicial foreclosure proceedings, deeds-in-lieu, receivership actions, deficiency collections and related litigation. We defend lenders against lender liability claims, countersuits, and other claims arising from distressed real estate loans, in both state and federal courts across the numerous jurisdictions nationwide.

Investment Opportunity

Our clients regularly use our Distressed Real Estate team’s services for their investment in troubled real estate deals. The investment may come as acquisition (or disposition) of all asset types, including commercial, industrial, retail, office, mixed-use, multi-family, single family, warehouse, condominium, residential, or hotel and resort. The investment may also occur as a mezzanine loan, a joint venture formation, or a cash infusion with a preferred return. Alternatively, clients utilize our services to buy or sell notes or other debt instruments, effectuate bulk sales and auctions, and to consolidate rights and liens prior to remedy execution. We also draw upon the skills of our corporate and tax lawyers to structure investments transactions most favorably for our clients.

REO or Investor Assets

In the event an asset is held, post foreclosure or post deed-in-lieu, whether by a lender client in REO or an investor in a portfolio, our Distressed Real Estate team uses its depth of experience to resolve any outstanding issues relating to entitlements, community associations, zoning, permitting, municipal relationships, leasing, and environmental issues. Whether a client plans to hold the asset for a period of time while waiting for a stronger market, or intends to instantly reposition the asset and sell it into the current market place, we are experienced in the sale and acquisition of real property assets, including marketing and brokerage issues, for lenders and investors alike.

Specialty Services; Leases; Municipalities; CMBS

Our Distressed Real Estate team regularly serves as counsel to landlords and tenants confronting potential or actual bankruptcy from one or both parties to a lease. We also frequently provide advice to our municipal law clients regarding their bonds and permits for distressed real estate situations and their obligations regarding the development of distressed real estate sites.

Our clients routinely call upon our skills and capabilities to help them make essential business decisions when faced with a distressed real estate situation. We stand ready to assist them in their endeavors.

CONTACTS

James E. Van Horn Partner T: +1 410 659 4468
Results 1-20 of 56
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RESULTS DEPEND ON A VARIETY OF FACTORS UNIQUE TO EACH CASE. PRIOR RESULTS DO NOT GUARANTEE OR PREDICT A SIMILAR OUTCOME.

Representative Matter

National bank in portfolio workout

Representation of a national bank in foreclosure and Chapter 11 bankruptcy proceedings involving a failed mountain resort development and loans in excess of $20 million.
Representative Matter

Major national and regional lending institutions

Representation of major national and regional lending institutions with pre-workout and pre-foreclosure review of loan documents and title and claims issues; delivery of analysis and readying project for foreclosure/deed in lieu or note sale; construction defects, condominium association and HOA issues, lease review and addressing defaulted tenants, preparation for post-foreclosure stabilization for residential, commercial, mixed use, office, retail, industrial, hospitality projects and portfolios.
Representative Matter

Restructurings and workouts

Representation of owners and developers in restructuring and workout of wide variety of distressed property.
Representative Matter

Partially complete condominiums

Representation of lender in workout and foreclosure of incomplete construction and development projects, including partially complete condominium projects.
Representative Matter

Post foreclosure portfolio assistance

Post foreclosure portfolio assistance modification to declarant rights, covenants, HOA declaration and by-law revisions.
Representative Matter

National bank in Chapter 11 residential real estate bankruptcy

Representation of national bank in Chapter 11 bankruptcy proceedings involving dozens of residential real estate developments.
Representative Matter

National lender in industrial portfolio workout

Representation of national lender in restructuring multi-state portfolio of loans secured by industrial portfolio.
Representative Matter

National lender in major hotel bankruptcy

Representation of lender in Chapter 11 of operator of 600 room hotel, successfully opposing cramdown and obtaining relief from stay. Represented lender in subsequent bankruptcy of land lessor to prior debtor, again obtaining relief from stay. In addition, representation of a trustee in bankruptcy of Midwestern publicly held limited partnerships with hotels undergoing Chapter 11 reorganization.
Representative Matter

National lender in workout of larger urban portfolio

Representation of national lender in forbearance and workout of multi-parcel urban portfolio of prominent developer.
Representative Matter

National lender in sale of notes

Representation of national lender in sale of debt instruments in lieu of real property collateral.
Representative Matter

Lease assumptions and rejections in chapter 11 cases

Representation of both debtors and landlords in lease assumptions and rejections in chapter 11 cases, including representation of an institutional landlord of approximately 30 properties in foreclose on a Southwestern retailer restructuring debt under chapter 11.
Representative Matter

Representation of national and regional lending institutions and special servicers in forbearance foreclosures

Representation of national and regional lending institutions and special servicers of CMGS loans in workouts and forbearance agreements, foreclosures, guaranty enforcement actions, deeds-in-lieu of foreclosure and state receivership proceedings.
Representative Matter

Restructuring of syndicated asset-based loan for sports franchise

Out-of-court restructuring of a $200 million syndicated asset-based loan involving a sports franchise that included a mezzanine facility to provide needed cash flow.
Representative Matter

Bank defense post foreclosure

Defense of bank post foreclosure for violation of city storm water regulation.
Representative Matter

CMBS special servicer

Represented CMBS special servicer on loan workouts, foreclosures and guaranty litigation for securitized commercial loans secured by real estate in Florida.
Representative Matter

Individual guarantor of work-out restructuring

Representation of individual guarantor and structure of work-out to avoid bankruptcy and personal liability in connection with a portfolio of defaulted commercial real estate loan; the largest single loan in the amount of $145 million.
Representative Matter

Distressed loan portfolio sale

Representation of the seller in the sale of a portfolio of distressed loans in the aggregate principal amount of $300 million.
Representative Matter

Equity holders in workouts and bankruptcies

Representation of equity holders in real estate development bankruptcies.
Representative Matter

Post foreclosure development

Post foreclosure development documentation, leasing and sale of real property.
Representative Matter

Post foreclosure stabilization

Post foreclosure stabilization of various REO portfolio and sales including bulk sales and auctions of commercial, multifamily, warehouse, industrial, residential and commercial condominiums.
Results 1-20 of 56
Results 1-25 of 40
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John Huske Anderson Jr. John Huske Anderson Jr.
Partner
300 North Third Street
Suite 320
Wilmington, NC 28401-4099

T: +1 910 254 3828
F: +1 910 254 3900
vCard
Ilene A Bailey Ilene A. Bailey
Counsel
7 Saint Paul Street
Suite 1000
Baltimore, MD 21202-1671

T: +1 410 659 4449
F: +1 410 659 4478
vCard
John C Beane John C. Beane
Partner
Promenade
1230 Peachtree Street, N.E.
Suite 2100
Atlanta, GA 30309-3534

T: +1 404 443 5714
F: +1 404 443 5794
vCard
Douglas W Charnas Douglas W. Charnas
Partner
2001 K Street N.W.
Suite 400
Washington, DC 20006-1040

T: +1 202 857 1757
F: +1 202 828 2980
vCard
Dorothea W Dickerman Dorothea W. Dickerman
Partner
1750 Tysons Boulevard
Suite 1800
Tysons Corner, VA 22102-4215

2001 K Street N.W.
Suite 400
Washington, DC 20006-1040

T: +1 703 712 5387
F: +1 703 712 5242
vCard

T:+1 202 857 1721
F: +1 202 857 1737

Douglas M Foley Douglas M. Foley
Partner
2001 K Street N.W.
Suite 400
Washington, DC 20006-1040

World Trade Center
101 West Main Street
Suite 9000
Norfolk, VA 23510-1655

T: +1 202 857 1720
F: +1 202 828 3301
vCard

T:+1 757 640 3715
F: +1 757 640 3957

Shawn R Fox Shawn R. Fox
Senior Counsel
1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 212 548 2165
F: +1 212 548 2150
vCard
Susan L Germaise Susan L. Germaise
Partner
1800 Century Park East
8th Floor
Los Angeles, CA 90067-1501

T: +1 310 315 8239
F: +1 310 956 3139
vCard
Elizabeth Whitener Goode Elizabeth Whitener Goode
Partner
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 343 2039
F: +1 704 444 8729
vCard
Cheryl O'Donnell Guth Cheryl O'Donnell Guth
Counsel
7 Saint Paul Street
Suite 1000
Baltimore, MD 21202-1671

T: +1 410 659 4420
F: +1 410 659 4525
vCard
T. Craig Harmon T. Craig Harmon
Partner
One James Center
901 East Cary Street
Richmond, VA 23219-4030

T: +1 804 775 1097
F: +1 804 698 2074
vCard
Dion W Hayes Dion W. Hayes
Partner
One James Center
901 East Cary Street
Richmond, VA 23219-4030

1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 804 775 1144
F: +1 804 698 2078
vCard

T:+1 212 548 2100
F: +1 212 548 2150

George H Heberton George H. Heberton
Partner
Promenade
1230 Peachtree Street, N.E.
Suite 2100
Atlanta, GA 30309-3534

T: +1 404 443 5710
F: +1 404 443 5767
vCard
David E Huffine David E. Huffine
Partner
300 North Third Street
Suite 320
Wilmington, NC 28401-4099

T: +1 910 254 3812
F: +1 910 254 3900
vCard
Benne C Hutson Benne C. Hutson
Partner
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

434 Fayetteville Street
Suite 2600
Raleigh, NC 27601

T: +1 704 343 2060
F: +1 704 444 8739
vCard

T:+1 919 755 6615
F: +1 919 755 6699

J. Trevor Johnston J. Trevor Johnston
Partner
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 343 2246
F: +1 704 444 8730
vCard
Brian A Kahn Brian A. Kahn
Partner
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 343 2351
F: +1 704 444 8869
vCard
Jennifer Rouse Leahy Jennifer Rouse Leahy
Counsel
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 343 2257
F: +1 704 444 8804
vCard
Andrew F Lopez Andrew F. Lopez
Associate
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 343 2364
F: +1 704 444 8864
vCard
John H Maddock III John H. Maddock III
Partner
One James Center
901 East Cary Street
Richmond, VA 23219-4030

T: +1 804 775 1178
F: +1 804 698 2186
vCard
Bill Mayberry Bill Mayberry
Partner
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 343 2024
F: +1 704 444 8751
vCard
Aaron G McCollough Aaron G. McCollough
Partner
77 West Wacker Drive
Suite 4100
Chicago, IL 60601-1818

T: +1 312 849 8256
F: +1 312 698 4522
vCard
Paul J McNamara Paul J. McNamara
Associate
300 North Third Street
Suite 320
Wilmington, NC 28401-4099

T: +1 910 254 3816
F: +1 910 254 3900
vCard
Zachary D Morgan Zachary D. Morgan
Associate
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 343 2362
F: +1 704 444 8895
vCard
E. Kristen Moye E. Kristen Moye
Partner
1750 Tysons Boulevard
Suite 1800
Tysons Corner, VA 22102-4215

T: +1 703 712 5423
F: +1 703 712 5238
vCard