Structuring Real Estate Loans: Leveraging Nonrecourse Carve-outs, Springing Guaranties, SPE Provisions and More

Recording of a 90-minute CLE webinar with Q&A


Conducted on Thursday, July 10, 2014

Recorded event now available

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Program Materials

This CLE webinar will prepare real estate counsel to understand how institutional real estate lenders are negotiating commercial loan document terms in light of the recent recession, emerging market conditions, and key court decisions.

Description

The commercial real estate industry has developed numerous financing techniques and methods to facilitate the construction and development of projects. The traditional mortgage is only one of many financing products available to the commercial real estate investor.

Sources of capital, underwriting criteria and content of loan documents have all changed in the past few years. Strict real cash equity requirements have become the norm, and loan documents are more rigid and subject to less negotiation.

Tighter underwriting criteria, the increased use of financial covenants, the requirement that borrowers be “special-purpose entities” (SPEs), changes in the requirement of independent directors, and new trends in nonrecourse carve-outs are among the latest requirements contained in loan documents.

Listen as our authoritative panel of attorneys explores how institutional real estate lenders are revising commercial loan documents in response to lessons learned from the economic downturn, new market conditions, and recent court rulings.

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Outline

  1. Nonrecourse carve-outs
  2. Springing guaranties
  3. Cash management practices
  4. SPE provisions
  5. Reserve agreements and other credit enhancements

Benefits

The panel will review these and other key questions:

  • What are SPEs in real estate financing—and how are they structured?
  • What are the latest trends in nonrecourse carve-outs?
  • What are the types of cash management practices available?

Faculty

James E. Goodrich
James E. Goodrich

Partner
Saul Ewing

Mr. Goodrich handles industrial, office, retail and multi-family transactions for clients across the U.S. His work...  |  Read More

Thomas C. Homburger
Thomas C. Homburger

Of Counsel
K&L Gates

Mr. Homburger concentrates his practice in the area of real estate financing, development and investment, and he is...  |  Read More

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