Real Estate & Land UseCorporate & Financeemail
We represent clients at every phase of the real estate cycle, including the inevitable downturns. Today’s challenging economic, real estate and credit market conditions pose great risks for investors. However, with risks come opportunities for those with the experience and skill to evaluate, manage and exploit them. We partner our experience, expertise and market knowledge with our clients’ to take full advantage of the distressed asset marketplace.
The Best Mix of Core CompetenciesAs one of the country’s leading advisors to financial institutions and private equity investors, we have decades of experience representing lenders, borrowers, investors and other participants in structuring distressed asset transactions and in negotiating and resolving the unusually complex legal issues relating to such deals.
We offer a full spectrum of services in the distressed asset arena. Among our clients are:
Loan Portfolio TransactionsFor nearly 20 years we have represented buyers, sellers and financiers in the purchase, sale and financing of mortgage and other loan portfolios, closing over 100 such transactions. Drawing on that experience, we help clients develop asset acquisition and disposition strategies that suit their business objectives and risk tolerance, and then work to implement those strategies throughout the contract negotiation and drafting, due diligence, pricing, conveyancing and post-conveyancing stages.
Our work on both the buy and sell sides of portfolio transactions helps us stay abreast of the competitive landscape, the evolving standards and criteria by which clients evaluate investments, and the latest market terms. In other words, whether serving as buyer’s or seller’s counsel, we are able to anticipate the other party’s concerns and create transaction structures to address them.
Workout, Restructuring and BankruptcyOur workout restructuring practice covers the representation of all creditor and investor interests in loan recovery and debt restructuring and inside and outside of bankruptcy, with particular emphasis on the representation of institutional clients. We help lenders resolve problems that arise in managing foreclosed real estate, servicing mortgages and administering loan portfolios. We also advise lenders with respect to the various risks associated with the holding, managing and disposal of troubled real estate, particularly lender liability, environmental and financial regulations, and the management of those risks.
We have negotiated and documented debtor-in-possession financing transactions for debtors and lenders, and represented numerous clients in the acquisition and sale of distressed assets and businesses in Chapter 11 and Chapter 7 bankruptcy proceedings, from straightforward 363 sales transactions to highly contentious prepackaged reorganization plans.
CMBS TransactionsThe management and workout of loans transferred to pooled investment vehicles, such as mortgage-backed securities trusts, have their own complexities. The securitization structure, applicable REMIC, and sometimes grantor trust, tax considerations and contractual limitations tend to restrict the choices available to borrowers and lenders, as well as adding layers of procedural formalities to the financial analysis and communications among parties.
Our lawyers help borrowers, servicers, investors, trustees and other parties to securitized commercial mortgage loan transactions to understand how the pool-level governing documents interrelate with the underlying loan documents.
Manatt in Action
Loan Purchase and Sale Transactions
© 2014 Manatt, Phelps & Phillips, LLP. All rights reserved.