As with the Great Recession, the change in the economic landscape in recent times has created an unsettled environment in the commercial real estate market. If the past is a guidepost, disputes are inevitable—particularly in commercial real estate transactions involving high dollar amounts and complex structures. In high-stakes matters, seasoned counsel can make a critical difference in avoiding a dispute before it arises or resolving it through litigation or out-of-court settlement.
Our Commercial Real Estate Workouts and Litigation team draws upon its vast experience across multiple disciplines in advising clients on navigating through their options in complex deal structures (e.g., workouts, bankruptcy, receiverships, UCC dispositions) and, if necessary, exercising or defending their rights in the litigation arena. Our team is able to leverage its experience from many different perspectives, as opposed to looking at a matter from the standpoint of a single player in the arena. Over the years, we have represented key stakeholders from many different aspects of the industry, including lenders and borrowers (mortgage and mezzanine), sponsors, guarantors, property owners and developers, property management companies, lessors and lessees, and investors in CMBS.
The team also leverages its substantial experience in structured finance litigation—an area that has been a key area of the Firm’s practice following the Great Recession. For more than a decade, our attorneys have recovered billions of dollars on behalf of our clients in this area, and we are one of the most active law firms in structured finance litigation, having handled disputes involving hundreds of RMBS and CMBS transactions. Our clients in the structured finance space include a broad array of entities, including hedge funds, other institutional investors, bond insurers, and REITs.
The Firm’s structured finance litigation and real estate practices have both been recognized in Chambers USA, a leading law firm guide. Based on comments from clients and peers, the guide notes the team’s “creativity” and “outside-the-box strategies” adding “[t]hey are consummate tacticians and strategists, basing their advice on a clear-headed assessment of the strengths and weaknesses of the client’s position." Another peer underlined the Firm’s “exceptional work in the RMBS space.” “They have a superlative record in the RMBS space. They’re extremely strong and have maintained their excellence.” Another interviewee notes, “The lawyers at Patterson are collegial, thorough and passionate about their work” … “[t]heir work is top-notch, and their expertise in the mortgage-backed securities space is at the top of the field.” The guide also notes that our “real estate team inspires ‘the utmost confidence’ in its clients.” The guide also offers a client’s quote: “The diligent and respected lawyers in this group pay great attention to detail and are always willing to go the extra mile to get the job done.”