NEW YORK – Feb. 3, 2023 – Five attorneys from global law firm Greenberg Traurig, LLP., presented at the IMN 19th Annual Winter Forum on Real Estate Opportunity & Private Fund Investing Jan. 18-20 in Laguna Beach, CA. Greenberg Traurig also was a platinum-level sponsor of the event, which focused on the latest trends and issues in commercial real estate and private investment funds.
Michael J. Baum, co-chair of the firm’s Global Real Estate Practice, moderated the panel “The Search for Distressed Opportunities.” The session’s topics included leading indicators of distress, the outlook for asset valuations, geographical markets with the most distressed deal flow, changes in due diligence, an update on non-performing loans and servicing, and market performance of commercial mortgage-backed securities (CMBS).
James O. Lang, a Tax Practice shareholder in the firm’s Tampa office, moderated the panel “Opportunity Zones, Urban Investments & Re-Emerging Local Markets.” Among the questions addressed by the panel: how much capital is still actively being raised for qualified opportunity zone (QOZ) funds, what are QOZ funds investing in, what residential and commercial assets are best suited for QOZs, and which urban markets are seeing the most investment and a resurgence in activity.
Sanford C. Presant, co-chair of the firm’s Global Real Estate Funds Practice, moderated the panel “Attracting Capital Through Innovative Fund Structures.” The session’s topics included current trends in fees and promotes, blocker structure alternatives for foreign investors and investors sensitive to unrelated business taxable income, general partner alternative structures, open-end vs. closed-end funds, preferred limited partner interests, and most favored nation and advisory board rights.
Stephen L. Rabinowitz, co-chair of the firm’s Global Real Estate Practice, moderated the panel “Mezzanine Debt, Preferred Equity, Bridge Loans & Gap Capital.” The discussion covered the impact of COVID-19 and macroeconomic factors on loan origination decisions, changes in borrowing and lending strategies, intercreditor and mezzanine debt agreements, high yield debt investments, CMBS and collateralized loan obligations, and construction lending.
Eric V. Rowen, co-chair of the firm’s Real Estate Litigation Practice and chair of the Western Region Real Estate Litigation Group, moderated the panel “Commercial Adaptive Reuse & Conversion Plays.” The panel provided an overview of adaptive reuse and property conversions and discussed the challenges of repositioning a property to serve a different asset class, the timeframe necessary for repositioning, creative financing solutions, and various case studies.
About Greenberg Traurig's Real Estate Practice: The Greenberg Traurig Real Estate Practice is a cornerstone of the firm and a recognized leader in the industry. The firm’s real estate attorneys deliver diversified and comprehensive counsel for property acquisition and investment, development, management and leasing, financing, restructuring, and disposition of all asset classes of real estate. The team draws upon the knowledge and experience of more than 700 real estate lawyers from around the world, serving clients from key markets in the United States, Europe, the Middle East, Latin America, and Asia. The group’s clientele includes a broad range of property developers, lenders, investment managers, private equity funds, REITs, and private owners. The firm’s real estate team advises clients on a variety of matters across a broad spectrum of commercial, recreational, and residential real estate, including structured equity and debt and the hybrids.
About Greenberg Traurig: Greenberg Traurig, LLP has more than 2650 attorneys in 44 locations in the United States, Europe, Latin America, Asia, and the Middle East. The firm is a 2022 BTI “Highly Recommended Law Firm” for superior client service and is consistently among the top firms on the Am Law Global 100 and NLJ 250. Greenberg Traurig is Mansfield Rule 5.0 Certified Plus by The Diversity Lab and is recognized for powering its U.S. offices with 100% renewable energy as certified by the Center for Resource Solutions Green-e® Energy as a member of the U.S. EPA’s Green Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono. Web: www.gtlaw.com.