Distressed Property Workouts
When real estate property owners experience uncertain financial times, the fate of their properties can hang in the balance as well.
The Real Estate attorneys at Olshan have the skill and experience required to strategically guide property owners through the challenges of bankruptcy or foreclosure and investors in understanding the risks and rewards of acquiring defaulted notes and mortgages.
Working with attorneys from our Bankruptcy & Financial Restructuring and Distressed Investing groups, we represent corporate and individual property owners and investors in the disposition, reorganization and/or restructuring of troubled properties.
We also assist clients in taking advantage of opportunities involving distressed properties, including the acquisition of properties in foreclosure and the purchase of defaulted mortgage, mezzanine and other real estate-related loans.
In addition, we counsel lenders in the financing and foreclosure of, and the enforcement of liens against, at-risk properties.
Contact these attorneys for distressed property workout matters:
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Represented Bonjour Capital as it took title to 333 Greene Avenue, Brooklyn, New York from two bitterly fighting debtors. Originally, Olshan represented Banco Popular in a mortgage foreclosure action against the debtors. After achieving summary judgment, Banco sold the mortgage to a third party. Olshan represented Bonjour in the purchase of the mortgage from that third party, then moved to lift the stay. After negotiating with the debtors, Bonjour took title through a plan of reorganization. The deal will allow the new owner to proceed with the 57-unit rental project, which was on hold for six years.