Parker Poe’s Commercial Foreclosure and Receivership team represents lenders and loan servicers in the enforcement of rights and remedies in regard to defaulted loans secured by commercial real estate. Our clients include some of the largest banks and commercial mortgage servicers in the country, as well as regional and community banks.
With our team of experienced attorneys and offices throughout North Carolina and South Carolina, Parker Poe is uniquely situated to provide effective and efficient representation in connection with defaulted commercial mortgage loans and other distressed real estate assets in either state. We have conducted thousands of foreclosures to successful conclusion in North Carolina (primarily non-judicial) and South Carolina (judicial). Our experience includes:
To preserve collateral value and maximize recovery, we often seek appointment of a receiver to operate a property so that its income can be realized pending foreclosure or sale of the property by the receiver in a minimally-distressed setting. Parker Poe has substantial experience in the selection and judicial appointment of receivers for multi-family housing projects, office and industrial complexes, retail shopping centers, hotels, marinas and warehouses.
CMBS Special Servicing
Our experience handling commercial foreclosures, receiverships, cash management issues, hotel franchise issues, loan modifications, forbearance/modification agreements, guarantor/indemnitor recovery actions and REO dispositions is complemented by our understanding of the unique attributes of securitized mortgage loans and the important duties and responsibilities borne by CMBS special servicers under pooling and servicing agreements.
We have represented special servicers in the resolution of hundreds of millions of dollars in distressed loans secured by hotels, offices, retail centers, industrial facilities and multi-family residential projects throughout North Carolina and South Carolina.
Specific examples of our servicing experience include: