Distressed real estate, like many complex investment undertakings, is ultimately about defining value and identifying opportunities. Our attorneys recognize that the ongoing success of real estate investments is closely aligned with economic cycles and regulatory developments. Specific, localized contacts and knowledge coupled with a mastery of a broad range of legal disciplines are especially vital to these dealings.
Our group represents the largest special servicer of Commercial Mortgage Backed Securities (CMBS) loans in the country. We service in excess of 145 pools of CMBS loans totaling more than $220 billion in principal for real property interests in every state throughout the country. In 2011, the group handled over $4.2 billion in loan workouts and $1.4 billion in REO sales.
Bilzin Sumberg’s experience in the distressed asset arena dates back to the 1980s and early 1990s when attorneys from our Real Estate Group were involved in the acquisitions and workouts of some of the industry's largest and most significant loan portfolios derived from the S&L crisis. In 2007, Bilzin Sumberg became one of the first law firms in the nation to establish a multi-disciplinary Distressed Assets Team in response to shifting real estate market conditions.
Our team is comprised of attorneys from our Real Estate, Corporate & Tax , Litigation, Restructuring & Bankruptcy, and Government Relations & Land Development groups. The structure of our Distressed Assets Team provides flexibility in mobilizing resources across the firm on behalf of our clients.