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Real Estate and Hospitality

We regularly represent developers, lenders, landlords, investors, and other parties in real estate-related bankruptcies, workouts, and restructurings. We understand the business of real estate, as well as the legal issues, and we work closely with our colleagues in the firm's highly regarded Real Estate practice. This enables us to achieve our clients' objectives with creative, expeditious, and cost-effective solutions.

We also regularly represent secured lenders in enforcing their remedies. We have had success in obtaining relief from the automatic stay, defeating cramdown plans, confirming creditors' plans, pursuing collection litigation, and defending lender liability suits. We have also negotiated creative, consensual resolutions, quickly and with relatively little expense.

We also represent developers, owners, and investors in resolving issues with their lenders. Often we are able to achieve the desired results without the need for a bankruptcy filing. However, where an out-of-court strategy is not workable, we will help achieve the necessary restructuring in a Chapter 11 proceeding.

We also represent investors in acquiring real estate assets from Chapter 11 proceedings, and in purchasing debt secured by real estate assets.

We have particular experience in the hospitality industry and have represented management companies and franchisors, creditors, owners, and investors in a wide variety of bankruptcy and debt restructuring matters involving hotels.

We also regularly represent landlords facing the bankruptcy or insolvency of their tenants or seeking to structure their lease transactions to minimize insolvency or bankruptcy risks.

Our representations have ranged from small, single-asset situations to some of the country's largest and most complex restructurings. In all of these matters, what sets us apart is deep industry knowledge, practical business sense, an understanding of complex financing structures, a high level of efficiency, and access to colleagues with expertise in real estate transactions, lending, tax, and corporate and partnership law.

Experience Highlights

  • Private Equity Owner, owner of a condominium development acquired pursuant to a Chapter 11 plan, in seeking to block successor liability claims brought in state court. Viscayne So. Condo. Ass'n, Inc., et al. v. RW 244 RES, LLC, et al.
  • The Robert and Dee Leggett Foundation in the Virginia bankruptcy proceeding of Loudoun Heights LLC.
  • The Davidson Family Trust, as the debtor-owner of luxury hotel in Chapter 11 proceedings based in Hawaii. In re M Waikiki LLC
  • 530 Holdings LLC, acquirer of a Fifth Avenue office building, in negotiating the termination of debtor's retail lease on an emergency basis to facilitate closing of the acquisition. In re Syms Corp.
  • Professional Golfers Association in the enforcement of its trademark license agreement with resort owner. In re MSR (Bankr. SDNY)
  • Commercial Real Estate Firm in retail tenant workouts at shopping centers and mixed-use properties.
  • Major Developers in structuring and securitizing mortgage financing and mezzanine financing related to commercial, residential and mixed-use real estate projects.
  • Owner of an Office Building in Phoenix, AZ in the restructuring of CMBS debt.
  • Owner of an Apartment Project in Las Vegas, Nevada in debt restructuring with CMBS lender.
  • Real Estate Developer in strategic advice on bankruptcy-related issues.