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OnDemand Webinar

Post-Closing Obligations in Complex Real Estate Transactions

There is no doubting the adrenaline rush occasioned by the closing of a transaction, as clients and attorneys collaborate to bring a deal over the goal line. However, in most real estate finance transactions, closing represents only the beginning of a continuing relationship between deal parties. This OnDemand Webinar will explore common issues and obligations of parties to real estate transactions after the deal has closed.

Learning Objectives:

  • You will be able to review the importance of developing workable time frames.
  • You will be able to describe reallocation of mortgage and mezzanine debt.
  • You will be able to define custodial deliveries.
  • You will be able to discuss post closing transfers, defeasances and other common consent requests.

Runtime: 90 minutes
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Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

The Post Closing Letter

  • Appropriate Uses of Post-Closing Letters – When Is It “Ok” to Take Something Post Closing?
  • Common Subjects of Post Closing Letters

– Final Surveys/Title Policies

– Recorded Documents

– Filed UCCs

– SNDAs

– Tenant Estoppels

– Refinancing Lender Lien Releases

– Hedging Arrangements/Rate Caps

  • Time Frames for Delivery
  • Remedies

– Default

– Fees or Other Monetary Penalties

Common Borrower Post-Closing Tasks

  • Tenant Direction Letters
  • Notices To:

– Ground Lessors

– Condominium Boards

– Hotel Managers/Franchisors

– REA Parties

  • SNDAs
  • Other Common Items

Special Considerations for Securitized Loans

  • Delivery of Loan File to Custodian
  • Servicing Agreement
  • MLPA Rep Exceptions
  • Loan Summaries/Rating Agency Review
  • Assignment Documents in Blank

Other Common Considerations

  • Further Assurance Clauses and Scriveners’ Errors
  • To Slip Page or Amend?
  • Responsibility for Post-Closing Transactional Costs
  • Reallocation of Debt Between Mortgage and Mezzanine Debt
  • “Commercially Reasonable Efforts” Versus “Best Efforts” Standard
  • Common Borrower Consent Requests:

– Transfers

– Defeasance

– Leases

– SNDAs

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

No credit available.

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Matthew T. Clark

Matthew T. Clark

Dechert LLP

  • Finance and Real Estate partner in the Boston office of Dechert LLP
  • Practice emphasizes a broad range of real estate finance matters, with a concentration in the origination, acquisition, syndication, foreclosure, workout and disposition of mortgage loans, high-yield debt, B-notes, participations and mezzanine financings
  • Significant experience in the financing of distressed and under-performing mortgage debt, representing lenders and borrowers alike
  • Recently, represented Special Servicers, Rake Bond Holders and B Note Holders in connection with the resolution of complex distressed capital stacks
  • Extensive experience in the restructuring and workout of complex distressed-debt structures
  • Represented a number of clients in connection with the acquisition of domestic loan portfolios from European banks and frequently represents lenders in connection with distressed-note financings and repurchase facilities as well as a large number of life insurance companies, investment banks, commercial banks and other institutional investors in connection with the origination, purchase and sale of complex commercial mortgage loans, mezzanine financings and credit facilities
  • Has originated loans secured by all major asset types, with a special emphasis on “specialty assets,” including hotels, life-science facilities, condominiums, housing cooperatives and data and telecommunication centers
  • Active participant in several trade organizations, most recently as a member of the committee responsible for preparing the CRE Finance Council’s Model Representations and Warranties
  • A founding contributor to Dechert LLP’s finance and real estate blog, Crunchedcredit.com
  • Member of the CRE Finance Council, CRE Finance Council Representations and Warranties Committee, CRE Finance Council Accounting Policy Committee, Mortgage Bankers’ Association, Samuel Zell and Robert Laurie Real Estate Center at Wharton, The Real Estate Council of Boston College, and Boston Bar Association and is a mentor at Zell/Lurie Real Estate Center’s Career Mentor Program
  • Member of the Massachusetts and Pennsylvania Bars
  • J.D. degree, Boston College Law School; B.A. degree, Boston College
  • Can be contacted at [email protected] or 617-728-7118
Jason S. Rozes

Jason S. Rozes

Dechert LLP

  • Finance and Real Estate partner in the Philadelphia office of Dechert LLP
  • Practice focused in the areas of commercial real estate finance and commercial mortgage securitization
  • Represents U.S. and European investment banks, commercial banks, institutional lenders, private equity investors and one of Florida’s largest full-service real estate companies in a variety of real estate finance transactions, including permanent and bridge loan originations; mezzanine and other subordinate debt financings; construction loans; loan participations, syndications and other co-lender arrangements; and workouts and restructurings
  • Represents mortgage loan sellers and master and special servicers in commercial mortgage-backed securitizations
  • In the 2012 edition of Legal 500, Mr. Rozes was described by clients as “knowledgeable and experienced,” and that his “perseverance and dedication are commendable.”
  • He is a frequent speaker on matters relating to real estate finance and an active member of the CRE Finance Council (CREFC) and the Mortgage Bankers Association (MBA)
  • Member of the New York and Pennsylvania Bars
  • J.D. degree, Boston College Law School; B.A. degree in international relations, Stanford University
  • Can be contacted at [email protected] or 215-994-2830
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Product ID: 388695
Published 2013
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