Workout and enforcement of large portfolio of non-performing commercial loans for private equity fund client

Thomas H. Curran Associates was engaged by its private equity fund client to handle workout and enforcement of a large portfolio of non-performing commercial loans secured by properties located in the Northeast. In one of its workouts involving an industrial condominium building and adjacent parcel of vacant land, the Firm negotiated with the individual unit owners for favorable amendments to the declaration of condominium and worked with local real estate brokers to sell each of the individual condominium units. The Firm then subdivided the adjacent parcel of vacant land from the condominium association and separately negotiated the sale of that parcel on behalf of its client. Once all of the individual units were sold to third parties, the Firm assisted its client in transitioning control of the condominium association to the new unit owners.