Tenant-In-Common Workouts: Latest Developments

Strategies for Owners, Sponsors, Brokers and Lenders Evaluating TIC Workout Options

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


Conducted on Monday, June 17, 2013

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will provide counsel with a review of the current state of tenant-in-common (TIC) deals, the most common TIC workout scenarios, and practical tips to aid TIC owners, sponsors, brokers and lenders evaluating TIC workout options.

Description

TIC deals were quite popular before the real estate bubble burst. However, in the wake of the recession, TIC deals are unraveling. TIC owners are suffering severe losses stemming from declining property values and tenant vacancies and are increasingly filing for bankruptcy.

TIC workouts can provide a solution to this dilemma, but they involve complicated real estate, tax, finance, bankruptcy and securities issues. Counsel must fully understand these issues in order to properly advise their TIC owner, sponsor, broker and lender clients.

Listen as our panel of attorneys experienced in TIC deals and bankruptcy reviews current trends in TIC workouts and provides best practices for counsel representing TIC owners, sponsors, brokers and lenders for protecting their clients’ interests during a workout.

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Outline

  1. Current state of TIC deals
  2. Key issues/complexities in TIC workouts
    1. Multi-party structure of TICs
    2. Lack of control over borrower/property owner
    3. Conflicts of interest in selecting counsel
    4. Replacing the existing TIC sponsor
    5. Lender consent/non-recourse carve-out guarantees
  3. Lender reaction to TIC workouts
    1. Expansion of recourse liability
    2. Change in structure
    3. Required capital calls
  4. Collateral issues to be considered in a TIC workout
    1. Bankruptcy issues
    2. Tax issues
    3. Securities issues

Benefits

The panel will review these and other key questions:

  • How has the real estate slowdown impacted TIC deals?
  • What are the unique complexities of TIC workouts?
  • What collateral issues should be considered during a TIC workout?
  • How can counsel representing parties in a TIC workout best advise their client?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Coni S. Rathbone, JD, CRE
Coni S. Rathbone, JD, CRE

Shareholder
Zupancic Rathbone Law Group

She regularly helps clients in the purchase, development and sale of commercial property. She works on securities...  |  Read More

Gary W. Marsh
Gary W. Marsh

Partner
McKenna Long & Aldridge

He focuses on bankruptcy, workouts and debtor/creditor law. He has extensive experience representing creditors in...  |  Read More

William M. Levinson
William M. Levinson

Co-Chair Financial Services Industry Practice Group
Fox Rothschild

Co-Chair of the firm’s Financial Services Industry Practice, he has more than three decades of experience...  |  Read More

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