5 Tips For Distressed CRE Borrowers

Law360, New York (February 21, 2012, 2:12 PM EST) -- The owner of a distressed commercial real estate project must do its homework before entering into workout negotiations with its lender, focusing on the five key areas discussed below.

1) Know the Loan Documents

Unless the borrower reads its loan documents carefully, it can expect bad surprises in the loan workout process. The borrower may also discover loan document mistakes that can provide it with additional leverage in negotiations with its lender.

The borrower should pay particular attention to provisions imposing personal liability for an otherwise...
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