J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida
Read MoreThe client was a Mortgage Funding Conduit.
A European Bank developed a $130 million mortgage conduit, in conjunction with a local construction lender, to fund mezzanine loans to Florida real estate developers. The conduit consisted of over 100 separate projects. As the Florida real estate market softened significantly, the conduit’s default rate escalated rapidly. The European bank lost confidence in the management of the conduit by the local construction lender.
Through their attorneys, the European Bank hired our experts to evaluate the underlying collateral and advise it on the best course of action, including taking over and completing projects, paying off first lien holders to control the operations, land banking the deals, and abandoning. After this analysis, we assisted the conduit by taking responsibility to manage the implementation of the strategy for each project.
Brian F. Gleason, CTP
Senior Managing Director
Strategic Advisory Practice
+1 610 659 8118
[email protected]
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