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Real Estate Capital Markets

Thompson & Knight’s attorneys have represented clients in all aspects of real estate capital markets transactions for more than 30 years. We have particular expertise in representing traditional and nonconventional financial institutions, private equity groups, senior secured conduit originators, mezzanine lenders, master servicers and special servicers of securitized REMIC Trusts, and servicers of collateralized debt obligations (“CDOs”) and collateralized loan obligations (“CLOs”).

Overview

Thompson & Knight’s attorneys have represented clients in all aspects of real estate capital markets transactions for more than 30 years. We have particular expertise in representing traditional and nonconventional financial institutions, private equity groups, senior secured conduit originators, mezzanine lenders, master servicers and special servicers of securitized REMIC Trusts, and servicers of collateralized debt obligations (“CDOs”) and collateralized loan obligations (“CLOs”).

Our attorneys have served as lead counsel in thousands of loan origination and workout transactions (involving equity, debt, and related instruments) that have included senior, junior, and subordinated secured, unsecured, and mezzanine loan structures, A/B Note Splits, B-Notes, and every aspect of the commercial mortgage-backed securities (“CMBS”) and CLO markets. This further includes, but is not limited to, originations; negotiation of pooling and CMBS and CLO servicing agreements; and representation of master servicers, special servicers, and bondholders exercising Section 3.18 Fair Value Purchase Options and Clean-Up Call Options.

We also have significant experience in representing all types of creditors in Chapter 11 bankruptcies, including single-asset real estate cases (also including debtor-in-possession and exit financing structures involved therein); federal and state court receiverships throughout the United States; guarantor “carve-out” litigation; repurchase claim litigation; individual and portfolio loan sale and purchase transactions; securitizations of CMBS and CLO loan and derivative instruments; preferred equity structures, equity, and debt capitalization and recapitalization structures and related tax consequences; and acquisition, disposition, development, build-to-suit, synthetic lease, sale-leaseback, and §1031 tax deferred exchange transactions.

Our extensive experience in the real estate capital markets, which includes all asset classes located throughout the United States, provides a substantial benefit to our clients because we are able to deliver cutting-edge solutions to issues that develop during our clients’ transactions, lawsuits, and bankruptcies.

Finally, our Real Estate Capital Markets Group includes attorneys from multiple legal disciplines within the Firm to address all of our clients’ issues. Attorneys with expertise in commercial litigation, bankruptcy and creditors’ rights, tax, corporate and partnership, and environmental matters utilize their expertise and knowledge to quickly and efficiently address the inevitable subtle and nuanced issues that are unique to a real estate capital markets project.

Ranked among the top six firms in Texas for Real Estate in Chambers USA 2019 by Chambers and Partners

30+

More than 30 years of experience representing clients in all aspects of real estate capital markets transactions

Multidisciplinary approach to addressing real estate capital markets needs

Experience

  • Represented the seller/depositor in a $125 million collateralized loan obligation securitization involving 18 loans secured by commercial real estate properties located throughout the United States
  • Represented the seller/depositor in a $260 million collateralized loan obligation securitization involving 20 loans secured by commercial real estate properties located throughout the United States
  • Represented the special servicer in a $959 million traditional securitization involving 25 loans secured by commercial real estate properties located throughout the United States
  • Represented the special servicer in a $272 million traditional securitization involving two loans secured by commercial real estate properties located throughout the United States
  • Represented the special servicer in a $800 million traditional securitization involving 46 loans secured by commercial real estate properties located throughout the United States
  • Special Real Estate Counsel for the Trustee of Liquidating Trust created by Plan of Liquidation from SCI Chapter 11 bankruptcy filing by the second largest syndicator of tenant-in-common interests in the United States, involving 57 commercial real estate projects with an estimated acquisition value of $1.6 billion
  • Represented two securitized business trusts (REMIC) through their special servicers in a commercial real estate loan workout involving a $750 million multi-family portfolio, including numerous B-Notes, C-Notes, mezzanine lenders, and intercreditor agreements, collateralized by 29 projects located throughout the United States
  • Represented a securitized business trust (REMIC) through the special servicer in a real estate loan workout involving a $250 million multi-family portfolio (including three mezzanine loans in the collective principal balance of $83 million) collateralized by 20 commercial real estate properties located throughout the United States
  • Represented a securitized business trust (REMIC) through the special servicer in a real estate loan workout involving a $170 million multi-family portfolio collateralized by 13 commercial real estate properties located throughout the United States
  • Represented a securitized business trust (REMIC) through the special servicer in a real estate loan workout involving a $170 million multi-family portfolio collateralized by thirteen commercial real estate properties located throughout the United States
  • Represented a securitized business trust (REMIC) through the special servicer in a real estate loan workout involving a $160 million multi-family portfolio (including mezzanine debt) involving four Class A commercial real estate properties located in Austin, Texas
  • Represented a securitized business trust (REMIC) through the special servicer in a real estate loan workout involving a commercial real estate loan collateralized by ground leases on a national chain of 83 restaurants located throughout the United States
  • Represented a securitized business trust (REMIC) through the special servicer in a real estate loan workout involving a securitized synthetic lease collateralized by assets and revenue generated by a national retailer in a Chapter 11 bankruptcy
  • Represented a securitized grantor business trust through its special servicer in the deconstruction of a $100 million single-asset securitization comprised of a commercial real estate loan secured by assets and revenue generated from a worldwide manufacturer of automobile parts and accessories
  • Represented a life insurance company in receivership in the State of Washington in connection with the workout of a commercial real estate senior secured loan collateralized by a nuclear fallout shelter which included a second secured creditor in bankruptcy in Nevada; a third secured creditor, a borrower having filed a Chapter 11 bankruptcy; and an unrelated third-party attempting to force a sale of the senior secured position pursuant to an intercreditor agreement

Related Team

Gregg C. Davis

Real Estate and Banking Practice Leader