The recent economic environment and resulting lack of liquidity in the commercial real estate market has meant that lenders and servicers are faced with an increasing number of non-performing loans and financially troubled borrowers. Lenders, servicers, and other financial institutions rely on Nixon Peabody to collaboratively and effectively provide them with strategies to protect their rights and maximize the recovery of their assets. Our services include the full range of negotiation and documentation of complex restructurings of debt, including the acquisition of ownership interest in troubled real estate offices and industrial buildings, hotels and other lodging properties, shopping centers, and residential developments.
Our team has represented clients in workouts and restructurings for the full spectrum of asset classes, including retail, office, hospitality, manufacturing, and commercial businesses of every kind. We have advised on a wide array of loan restructurings, including negotiating forbearance agreements, deed in lieu transactions, and complex modifications of loans involving senior secured and mezzanine debt, and securitized real estate.
We advise clients in connection with amendments and restructurings, as well as forbearance agreements. Our counsel includes structuring, due diligence, documentation, lien creation and perfection, disclosure, subordination, legal opinions, equity participations, and related matters. Through our extensive experience representing creditors, debtors, and buyers, we are able to assist clients in the structuring of all portions of the capital structure of leveraged finance. Master servicing and special servicing arrangements are all part of our day-to-day work.
With strong capital markets experience, we help our clients navigate the securitization regulatory scheme. Our attorneys have performed extensive analysis of rights, remedies, and recourse in connection with underlying Pooling and Servicing Agreements for securitized transactions.
We advise clients in complicated restructurings and bankruptcy proceedings. We also have extensive experience in bankruptcy-related financings, including numerous large and important debtor-in-possession and exit financings, many culminating in transfer of control to creditor groups. Because we represent indenture trustees, mezzanine lenders, commercial borrowers, and private equity sponsors we fully understand and can help clients with the full range of inter-creditor issues.
Dispositions
The firm has represented and advised various parties in all types of capital markets’ debt, including the purchase and sale of both permanent and construction loans as single assets, in pools, or in securitization transactions.
Our team regularly represents banks, federal agencies, and special servicers in connection with workouts, restructurings, foreclosures, participations, and sales of whole loans. We also have worked with clients in the purchase and sale of loan pools, with and without servicing. Attorneys in our firm have managed and negotiated the liquidation of loans in transactions involving single family, multifamily, and commercial mortgage pools for a federal agency with the principal amount outstanding in excess of $10 billion. Accordingly, based upon the type of transaction, these clients have included lenders, special servicers, federal agencies, private equity funds, issuers, underwriters, trustees, and credit enhancement providers. This experience cuts across a wide variety of products, from mortgage backed, asset-backed, taxable and tax-exempt securities to structured investment vehicles.
Attorneys at the firm also have represented trustees, primary servicers, master servicers, and special servicers in connection with the substitution of assets, rating agency criteria, guidelines, and approval process for secondary market matters.