Commercial Finance & Restructuring
Our Business Transaction Team’s attorneys represent banks, financial institutions, lenders, loan servicers, fund managers, and receivers in a variety of secured and unsecured loan transactions. On a daily basis, we act as counsel on multi-site asset-backed financing loan transactions on behalf of lenders and borrowers across the United States.
In addition, we advise our clients with respect to their creditor’s rights as it relates to workouts, REO transactions and debt restructurings. From the first notice of default to final conveyance of assets, our transactional and litigation team of finance lawyers work to protect our clients during the most volatile markets.
We provide the following services to borrowers and lenders:
- Asset-Backed Financings
- Construction Financings
- Conventional Mortgage Loans
- Deeds in Lieu of Foreclosure
- Development Incentives Transactions
- Equipment Financings
- Forbearance Agreements
- Letter of Credit/Credit Enhancement
- Lines of Credit
- Loan Portfolio Acquisitions
- Modifications & Conversions
- Senior & Subordinated Loan Participations
- Sale/Leaseback Transactions
- Syndicated & Non-syndicated Loan Transactions
- Temporary & Permanent Loan
- Receiverships & Interim Property Management
- Sales of Real Estate Owned (REO)
Our attorneys represent both lenders and borrowers in multi-million dollar financing transactions. Some of our most recent representative transactions include:
- $150M Borrower’s Counsel to a multi-national corporation (US & UK) in the restructuring of its existing credit facility and an increased Line of Credit facility in favor of an international banking institution.
- $50MLender’s Counsel to an international banking institution in connection with a multi-site/multi-state loan modification and partial debt reduction transaction and release of real estate collateral.
- $30M—Lender’s Counsel to a regional banking institution having offices in Illinois for the financing and refinancing of several mobile home transactions.
- $5-10M—Lender’s Counsel to a local Chicago Bank in connection with various community development (predevelopment and lines of credit) projects to nonprofit borrowers.
- $50M - Lender’s Counsel to local Chicago Community Bank in connection with the workout of various defaulted commercial loan facilities. The Community Bank is an acquiring bank subject to an FDIC loss share agreement.
- $100M - Lender’s Counsel to an International Banking Institution having a Chicago presence on the issuance of various financing development transactions, including construction loan financings and revolving lines of credit to Bickerdike Redevelopment Corp, Hispanic Housing Development Corp., Resurrection Homes; loan participation facilities to Community Reinvest IV and Oakwood Shores Development; and revolving lines of credit to Planned Parenthood.
- Borrower’s Counsel on behalf of a multiple shopping center owner throughout the New York Metro area in securitized financings, including negotiation and review of all loan documents.
- $40M - Lender’s Counsel to a Christian Credit Union in connection with the financing of a 10,000 seat church facility known as the House of Hope, Salem Baptist Church, Chicago, Illinois.
- $15M - Lender’s Counsel to a regional banking institution in connection with the issuance of a letter of credit facility in connection with the construction of a facility in favor of The Better Boys Foundation in Chicago, IL.
- $25M - Lender’s Counsel to a regional banking institution in connection with the issuance of a letter of credit facility in connection with the construction of a YMCA in favor of Heritage YMCA in Chicago, IL.
- Lender’s Counsel to a regional banking institution and a Fortune 100 corporation offering loans to its dealers in connection with the review, modification and redrafting of all commercial loan transaction documentation to ensure compliance with Illinois law.
- Lender’s Counsel to a national institutional investment firm in connection with the financing of a commercial office building located in Baltimore, Maryland. Represented real estate lender in multiple first lien mortgage transactions, drafting documents, conducting due diligence, and preparing pro formas and final loan insurance policies with title companies. Coordinated closings with opposing counsel and served as point of contact for client.
- Represented Lender in multiple amendments to secured credit facility. Analyzed existing loan documents to determine necessary amendments to accomplish client’s objectives of reducing overall size of credit facility, extending maturity, and replacing collateral.
- Lender’s Counsel to an International Banking Institution having a Chicago presence on the issuance of various financing development transactions, including construction loan financings and revolving lines of credit to Bickerdike Redevelopment Corporation, Hispanic Housing Development Corporation, Resurrection Homes; loan participation facilities to Community Reinvest IV and Oakwood Shores Development; and revolving lines of credit to Planned Parenthood.
Workouts & Foreclosures
- Represent Special Servicers in lease amendments and negotiations for properties in default on loan agreements.
- Represent lenders and borrowers in negotiations for acquisition and disposition of secured property in order to avoid necessity for foreclosures