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Commercial Real Estate Workouts and Foreclosures

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Miller Canfield has one of the leading commercial real estate workout and foreclosure practices in the country. Focusing on assets in the Midwest—primarily in Michigan, Illinois, Ohio, Indiana, and Wisconsin—the firm has represented special servicers, investment banks, insurance companies, credit unions, commercial banks and private investors in billions of non-performing loans. Our dedicated workout team offers an extensive range of services to our clients in connection with the enforcement, workout and foreclosure of defaulted commercial mortgage loans.  We have experience in handling all aspects and stages of distressed commercial real estate debt, including workouts, forbearances, loan extensions and reinstatements, discounted payoffs, note sales, foreclosures (judicial and non-judicial), receiverships, deeds-in-lieu, deeds-in-escrow, REO sales, guaranty enforcement and other related litigation.  Our experience includes all property types, including office, retail, industrial, multi-family, hospitality, shopping malls, mobile home parks, and senior living.

Our team’s deep knowledge of real estate law combined with our vast litigation experience makes us uniquely capable of developing the most effective and efficient strategies to enforce our clients’ rights in alignment with their business objectives. We are committed to providing our clients with unparalleled client service, finding the most efficient and cost-effective way to meet our client’s needs while maximizing recovery. Our commercial real estate and foreclosure practice has more than 30 years of experience in handling distressed debt and is backed by more than 250 attorneys and paralegals across all practice areas and industry teams, including specialties in bankruptcy, tax, litigation and environmental law. With offices throughout Michigan and in Chicago; New York; Canada; Mexico; Poland; and China, Miller Canfield offers local roots and cross-border representation throughout the world.

Experience

We regularly handle all types of workouts and other resolutions for distressed assets, including:

  • Forbearance agreements
  • Loan modifications
  • Deed-in-lieu transactions
  • Deeds in escrow
  • Distressed real estate loan sales
  • Mortgage assumption agreements
  • Consensual sales through receivers
  • Mortgage foreclosures (both judicial and non-judicial)
  • Receiverships
  • Suits against guarantors
  • Fraudulent transfer claims
  • Fraud investigations and litigation
  • Lender liability claims and litigation
  • Bankruptcy
  • Sales of distressed real estate through powers of attorney, receivers, bankruptcy and as REO property