The most recent economic and credit crisis has highlighted the need for experienced counsel to deal with the challenges of distressed commercial real estate assets. Our experience with troubled real estate spans all asset types, including office, retail, hotel, commercial and industrial, multifamily, condominiums, residential subdivisions, senior living facilities, affordable housing projects, franchise finance collateral, energy projects, sports facilities, agricultural and timber properties, and Native American gaming projects.
From offices in Washington, Oregon, California, and Alaska, our interdisciplinary distressed real estate team provides representation to buyers, sellers, borrowers, lenders, loan servicers, and institutional investors in connection with financing defaults and related issues on properties throughout the United States. Our team includes lawyers from various practice groups within the firm including:
With more than 500 lawyers in our firm, we have the depth and breadth of experience to handle all the issues that arise in working out troubled commercial financing transactions, realizing on collateral and taking advantage of opportunities to acquire troubled properties at favorable prices. Several of our lawyers are former in-house counsel or special credits officers for major financial institutions.
We provide the full range of services in distressed real estate transactions, including:
- Workout negotiations, forbearance arrangements, and collateral enhancements
- Review and assessment of financing structures and documentation
- Receivership and bankruptcy proceedings
- Nonjudicial and judicial foreclosure
- Realization strategies and enforcement for multi-state collateral
- Deeds in lieu of foreclosure
- Acquisition and disposition of distressed loans (single loans and loan portfolios)
- Acquisition and disposition of REO and other troubled properties
- Representation of subordinate and mezzanine lenders
- Structured finance and securitization
- Project finance
- Lender liability litigation
- Title insurance claims
- Management agreements
A unique asset that Davis Wright Tremaine can bring to bear for its clients is its strategic alliance with CenturyPacific, LP, a sophisticated real estate investment banking, advisory and development firm, which draws on the breadth of experience of its principals as well as its alliance partnerships to offer a full range of real estate services. The principals of CenturyPacific have structured and negotiated over three billion dollars of acquisitions, dispositions, joint ventures, development agreements and leases. They have also developed a wide range of commercial and residential projects. This experience gives CenturyPacific a perspective on real estate and the real estate process that is readily transferable to its clients. For further information on Century Pacific, see www.centurypacificlp.com.