Representation of Lennar Corporation, one of the nation's largest homebuilders, in the closing of two multibank structured asset transactions with the Federal Deposit Insurance Corporation ("FDIC"). In a joint venture with the FDIC, Lennar acquired a 40% equity interest in two limited liability companies formed by the FDIC to manage the separate loan portfolios. The portfolios consist of approximately 5,500 distressed real estate loans from 23 failed bank receiverships and have a total outstanding balance of more than $3 billion.
Handled billions of dollars in distressed debt related to modifications, extensions, forbearances, discounted payoffs, and deeds in lieu of foreclosure.
Representation of B piece and special servicer clients, handling in excess of $130 billion in 2.0 CMBS securitizations.