Commercial Mortgage Backed Securities Special Servicing
Continuous, daily involvement in all aspects of the CMBS loan lifecycle allows us to provide sound legal counsel.
WHY LOCKE LORD
Our cross-department and multi-jurisdictional nationwide CMBS Special Servicer Practice offers our special servicer clients bespoke, creative and efficient solutions to the most complex of loan enforcement actions relating to defaulted CMBS loans. The Locke Lord team stays on top of the CMBS industry to help meet our clients’ business objectives in the ever-changing regulatory environment in which CMBS lenders and special servicers operate.
Our institutional knowledge, deep understanding of CMBS loan structures and courtroom experience contribute to achieving the best possible result for the noteholder and special servicer, whether pre-litigation, during the course of litigation, post-judgment or in bankruptcy court.
Locke Lord lawyers represent the nation’s largest CMBS special servicers and lenders, handling all aspects of defaulted CMBS deals relating to all asset classes, including workouts, foreclosures (both judicial and non-judicial), receiverships and bankruptcies relating to office buildings (suburban office and CBD office alike), retail and lifestyle centers, hotels, multifamily projects, mixed-use projects, industrial projects and other esoteric asset classes, such as golf courses and mobile home parks. Our team efficiently navigates even the most complex and adversarial situations with an eye toward the ultimate goal — a swift and appropriately lucrative resolution.
Real Estate Workouts
Our lawyers negotiate a range of CMBS workout solutions, including:
- Forbearance agreements
- Deeds in lieu of foreclosure agreements
- Assumption agreements
- Reinstatement and bring-current agreements
- Agreements involving defeasance
- Discounted payoff agreements
- Settlement agreements
Loan Enforcement
Our lawyers enforce defaulted CMBS loans in courtrooms all over the United States both in and out of bankruptcy court. From seeking the appointment of a receiver to developing creative strategies to get to asset disposition quickly, our lawyers know how to work efficiently and effectively through the legal process to achieve the best results for our CMBS special servicer clients. We have particular knowledge in resolving bankruptcy cases through lender plans of reorganization that facilitate lender control of the liquidation of properties while exempting the properties from substantial transfer taxes. Our team has represented servicers and financial institutions in non-recourse carveout guarantees.