Converting Distressed Real Estate Developments: Legal and Financial Considerations
Navigating the Zoning, Covenant, Lender and Successor Liability Complexities
Recording of a 90-minute CLE teleconference with Q&A
Conducted on Thursday, September 10, 2009
Recorded event now available
This seminar will examine the benefits and risks of converting distressed real estate developments to other uses, including rentals, fractionals, hotels and mixed use developments, and will explain the legal, financial and practical considerations for developers when converting the projects.
Description
Nationwide, development projects initiated during the real estate boom now sit unfinished or vacant. To minimize their losses, many developers are converting distressed projects to a variety of different models, such as rentals, fractionals, hotels and mixed use developments.
The process of converting distressed projects is complex and fraught with legal pitfalls. Failure to adequately investigate zoning requirements can result in unusable property. Further, covenants attached to the original development may create roadblocks to converting the project.
Listen as our panel of experienced real estate attorneys explains the benefits and risks of converting distressed real estate developments to other uses. The panel will review the legal, financial and practical considerations for developers who are considering converting the projects to cut losses.
Outline
- Converting distressed developments — current market trends
- Condominiums and townhomes
- Subdivisions/single family homes
- Hotels
- Offices
- Age-restricted communities
- Retail developments
- Legal considerations when converting developments
- Zoning
- Covenants and conditions
- Use of amenities
- Lender/lien issues
- State laws governing fractionals and rentals
Benefits
The panel will review these and other key questions:
- How has the distressed real estate market impacted the building and sale of new development projects?
- What are the options for developers and sellers stuck with distressed development projects and seeking to minimize their losses?
- What are the legal and practical considerations for converting failed developments to fractionals, rentals, hotels or mixed use developments?
Faculty
David A. Barksdale,
Partner
Ballard Spahr, Los Angeles
He focuses on distressed real estate, real estate development, finance and construction, and secured finance. He advises both lenders and borrowers on workouts and the financial restructuring of distressed real estate projects, including master planned and mixed-use developments, retail and office centers, casinos, hotels, industrial properties, and other types of commercial real estate.
M. Maxine Hicks,
Member
Epstein Becker & Green, Atlanta
She has extensive experience in the acquisition, development, leasing, distressed assets, clubs and recreational amenities, state and federal regulation of real property, mixed use community governance and municipal matters. She is a noted author and lecturer on issues relating to master-planned communities.
Mel S. Weinberger,
Partner
Holland & Knight, Washington, D.C.
He is the co-leader of the firm's Global Hospitality, Resort, and Timeshare Practice and has specialized in all aspects of resort development and finance for 28 years. In particular, his practice focuses on timeshare and fractional resorts, condominiums, equity and non-equity clubs, and mixed use developments.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
Pre-approved for participatory or non-traditional/alternate format credit in: CA, HI*, NY*, WV*.
Pre-approved for self-study credit in: AK, AZ, MO, MT, TX, VT, WA.
Upon request, also available in: CO, CT*, FL, GA, ID, KY, LA*, ME, NC, ND, NE, NH, NM, NV, OR*, SC, TN, UT, WI, WY. If you are applying for credit in one of these states, make sure to select those states when placing your order.
(*Indicates that Strafford must report attendance.)
Online CLE Audio $149.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, HI, MO, MT, NY, TX, VT, WA, WV. Upon request, self-study credit is also available in: CO, FL, GA, ID, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com.
MP3 Download (Audio Only) $49.00
Available 24 hours after the live event
CD $49.00
plus $9.45 S&H
Available ten business days after the live event
CLE Credit
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Customer Reviews
The presentation was not too long, but included a great deal of information. The speakers kept to their times and provided an opportunity for questions at the end.
Amy E. McShane
Phillips Lytle LLP
I appreciated that there was a great deal of current case law on the subject and the speakers were concise and informative.
Thomas G. Mancuso
Haskell Slaughter
The program covered a fair amount of material in a short time period.
Dawn Sharff
Bradley Arant Boult Cummings LLP
Very good current, practical and applicable discussion and information provided.
Matthew Moore
Clawson & Staubes, LLC
The panelists covered the topic well and in depth.
Andrea Mealey
Edwards Angell Palmer & Dodge
Real Estate Law Advisory Board
Partner
Alston & Bird
Partner
Stroock & Stroock & Lavan
Partner
Robinson & Cole
Of Counsel
Jenner & Block
Partner
Bryan Cave
Of Counsel
K&L Gates
Counsel
Kilpatrick Townsend & Stockton
Partner
Jones Day
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