This episode of “Terra Firma: Conversations on Commercial Real Estate” features hosts Stacey C. Tyler and Stephen Tanico talking with Eric Chafetz, partner in Lowenstein’s Bankruptcy and Restructuring Group, about office market bankruptcies, and what to do when a building is going into foreclosure. Eric explains that, because creditors are required to stop a foreclosure proceeding when a single asset real estate company files for bankruptcy, they are seeking the benefit of an automatic stay and the related breathing room to try to work out their affairs and maximize value—often through recapitalization or a sale. The discussion covers such topics as the section 363 sale process, including where a nontraditional finance source purchases the debt at a discounted price; the benefits of a foreclosure sale; and the implications of a receivership. The lawyers also address the speed of bankruptcy proceedings, the importance of venue, and the growing role of hedge funds at the intersection of real estate and bankruptcy.

Speakers:

Eric Chafetz, Partner, Bankruptcy & Restructuring Department
Stacey C. Tyler, Counsel, Real Estate; Deputy Chair, Cannabis Practice
Stephen Tanico, Counsel, Real Estate

Today on “Terra Firma: Conversations on Commercial Real Estate,” hosts Stacey C. Tyler and Stephen Tanico chat with Naheem Harris, investor and real estate lawyer, about what he is seeing in the current real estate market, particularly through the lens of finance. Harris describes what he sees as a movement away from typical mortgage lending towards more creative sources of funding, such as preferred equity, mezzanine and SPAC lending. Harris also discusses his own entrepreneurship and how his investing experience in the restaurant industry informs how he counsels clients.

Speakers:

Stacey C. Tyler, Counsel, Real Estate; Deputy Chair, Cannabis Practice
Stephen Tanico, Counsel, Real Estate
Naheem J. Harris, Partner, Real Estate, Akerman

In this episode of Terra Firma, Conversations on Commercial Real Estate, Stacey Tyler and Stephen Tanico are joined by Lowenstein Real Estate partner Kimberly E. Lomot for a discussion on financing term sheets. They review key components of loan commitment letters relevant to mortgage deals, construction loans, and alternative financing structures, and give tips on how to maximize the negotiation of the initial terms to save time and money during the loan documentation process. Lomot gives an overview of a range of issues including lender selection, collateral terms, and environmental provisions.

Speakers:

Kimberly E. Lomot, Partner, Real Estate
Stacey C. Tyler, Counsel, Real Estate; Deputy Chair, Cannabis Practice
Stephen Tanico, Counsel, Real Estate