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We have represented many shopping centers, office parks and hotels. In recent times, many have missed payments because of the pandemic. While courts are usually sympathetic to borrowers who are struggling because of low occupancy or tenants that won’t pay, defending a monetary default case is tough. Often, we have better luck negotiating a solution. In this post, we look at a property owner……
organ Sued Over Its Involvement in the Sale of Good Technology Inc. Good Technology Inc is a mobile security provider that is today owned by BlackBerry Limited. How BlackBerry acquired the company and the price they paid is at the heart of the controversy. Good Technology works behind the scenes to manage and secure data and mobile devices. It also works with many app providers….…
In today’s commercial real estate market, commercial loans are often pooled together to create commercial mortgage backed securities (CMBS). These loan pools typically have several tranches. Each varies in credit quality and payment priority. The first-to-be paid tranches of bondholders usually possess investment grade securities. These are the A class bondholders. The last……
So many shopping centers are struggling to stay afloat during the pandemic. Even with a vaccine, many experts say that the face of retail shopping has changed forever. How many people will permanently shop online once things return to normal? Since the pandemic began, mall owners have had to contend with stay at home orders, orders limiting occupancy, extra precautions for workers and……
It’s been a very long year for our friends in the retail and hospitality industry. Many mall and hotel owners are barely hanging on. Many are in default although special servicers have not actively sought to foreclose on most defaulted properties. In this post we look at the current state of affairs for project owners and what the future holds. When we last wrote an update (October……
Anyone who owns an office building, shopping center or other commercial space has probably seen their property values decrease since the pandemic began. Particularly hard hit are hotels, especially those in tourist areas. The Financial Times reported in September that values are down an average of 27% with hotels in some areas seeing even larger drops. The article sites a……
[This post is taken from court documents and a story published by Law360. Although we represent the Plaintiffs in the lawsuits, we do not comment on pending litigation.] Many commercial projects are financed with CMBS loans. Short for “Commercial Mortgage Backed Securities,” CMBS loans start out like a regular loan but once the loan closes, the lender bows out. If……
[Editor’s Note: Our firm typically does not take consumer cases. Our practice is limited to actions where people and businesses have suffered out-of-pocket losses of $5 million or more. We also represent commercial borrowers with mortgage of a similar size or larger. While we do not typically accept consumer cases, we have taken class action cases against lenders. The average consumer……