This program will provide you a roadmap to the economics, legal process, major tax issues and lender remedies of restructuring commercial real estate projects gone bad. The program will cover major steps along the timeline of the workout process – analyzing the economics of restructuring alternatives, determining which alternative is most viable, how to approach to approach lenders about a workout, negotiation strategies depending on the nature of the property and type of lender involved, and drafting the operative agreements. The program will take a practical approach to how an attorney can help clients devise the best solution for rescuing a distressed real estate deal, negotiate and document the workout, and avoid the most adverse tax consequences. Day 1: June 21, 2011 – · Economic analysis of restructuring a distressed commercial real estate deal · Understanding how restructuring differs depending on the nature of the underlying real estate project – income property, build-and-sell, land, etc. · Forms of restructuring – new equity, debt reduction, deeds-in-lieu of foreclosure, modification of other loan terms · Practical advice on approaching lenders about restructuring · Restructuring negotiations strategies depending on the type of lender involved Day 2: June 22, 2011 – · Legal process of restructuring · Drafting forbearance and loan modification agreements · Receivership of distressed properties and planning to emerge from receivership · Finding third party buyers as part of refinancing · Major tax issues involved in restructuring Speakers: Richard R. Goldberg was a partner and is now Senior Counsel in the Philadelphia office of Ballard Spahr, LLP, where he has an extensive real estate practice, including development, financing, leasing, and acquisition. Earlier in his career, he served as Vice President and Associate General Counsel of The Rouse Company for 23 years. He is past President of the American College of Real Estate Lawyers, past Chair of the Anglo-American Real Property Institute, and past Chair of the International Council of Shopping Centers Law Conference. Mr. Goldberg is currently a Fellow of the American College of Mortgage Attorneys and is a member of the American Law Institute. Mr. Goldberg received his B.A. from Pennsylvania State University and his LL.B. from the University of Maryland School of Law.
This program will provide you a roadmap to the economics, legal process, major tax issues and lender remedies of restructuring commercial real estate projects gone bad. The program will cover major steps along the timeline of the workout process – analyzing the economics of restructuring alternatives, determining which alternative is most viable, how to approach to approach lenders about a workout, negotiation strategies depending on the nature of the property and type of lender involved, and drafting the operative agreements. The program will take a practical approach to how an attorney can help clients devise the best solution for rescuing a distressed real estate deal, negotiate and document the workout, and avoid the most adverse tax consequences.
Day 1: June 21, 2011 –
· Economic analysis of restructuring a distressed commercial real estate deal
· Understanding how restructuring differs depending on the nature of the underlying real estate project – income property, build-and-sell, land, etc.
· Forms of restructuring – new equity, debt reduction, deeds-in-lieu of foreclosure, modification of other loan terms
· Practical advice on approaching lenders about restructuring
· Restructuring negotiations strategies depending on the type of lender involved
Day 2: June 22, 2011 –
· Legal process of restructuring
· Drafting forbearance and loan modification agreements
· Receivership of distressed properties and planning to emerge from receivership
· Finding third party buyers as part of refinancing
· Major tax issues involved in restructuring
Speakers:
Richard R. Goldberg was a partner and is now Senior Counsel in the Philadelphia office of Ballard Spahr, LLP, where he has an extensive real estate practice, including development, financing, leasing, and acquisition. Earlier in his career, he served as Vice President and Associate General Counsel of The Rouse Company for 23 years. He is past President of the American College of Real Estate Lawyers, past Chair of the Anglo-American Real Property Institute, and past Chair of the International Council of Shopping Centers Law Conference. Mr. Goldberg is currently a Fellow of the American College of Mortgage Attorneys and is a member of the American Law Institute. Mr. Goldberg received his B.A. from Pennsylvania State University and his LL.B. from the University of Maryland School of Law.