Real Estate

Successfully restructuring real estate assets and investments, including loan terms, covenants, and tenant leases, requires a complete and nuanced understanding of operations, financial structures, and market conditions. Handled well, a restructuring can enhance value in various ways, including recapitalization, identifying additional opportunities to generate cash flow, or monetizing an asset’s value.

Defining the right business plan for a distressed asset is a critical, often underappreciated part of the restructuring process. Repositioning or repurposing an asset, often overlooked, can be highly beneficial. If monetizing the asset is required, the best outcome requires a realistic approach to the market. Force 10 excels in all of these aspects of real estate restructuring.

Our real estate restructuring expertise includes:

• Constructing, evaluating, and executing turnaround strategies and restructuring plans
• Financial modeling to support restructuring recommendations
• Evaluating and providing guidance with respect to creditor rights
• Negotiating with stakeholders
• Providing interim executive services (e.g., CRO or CFO)
• Structuring and executing spin-offs/carve-outs

Collectively, we have decades of hands-on experience with real estate transactions. We draw upon that experience to identify the most relevant issues in a dispute from a real-world perspective and to construct highly credible arguments to support our clients.

For example, in litigation, disputes can arise among lenders in a syndicate or at different layers of the liability stack, often involving the way provisions in lender agreements are interpreted or how the rights and obligations of various parties are enforced. This, in turn, can lead to allegations of wrongdoing or negligence. Force 10 is a steady, experienced hand in managing lender groups and resolving inter-creditor disputes.

We also testify in disputes about setting interest rates or other terms for secured loans or whether financial harm resulted from real estate investment fund originations, among other issues. It goes without saying that our testimony in federal courts, state courts, and arbitration proceedings, is always supported by rigorous analyses. Our reputation for providing well-reasoned and rational testimony, with credibility and integrity, is unquestioned.

Our real estate-focused expert testimony and litigation support expertise include:

• Case assessment, risk analysis, and pre-litigation strategy
• Property investigations and forensic accounting
• Litigation consulting and support, including evaluations of other expert witnesses
• Digital forensics needed to support our testimony
• Analyses of claims involving partnerships, joint ventures, and landlord-tenant disputes
• Analysis of damages caused by construction delays
• CMBS counterparty disputes, including breach of reps and warranties
• Bankruptcy-related disputes involving avoidance actions and preferences, solvency analyses, valuations, interest rates, and plan feasibility