Protecting Condominium Construction Lenders When Developers Default

Real Estate Partner Stuart Saft authored an article in Pratt’s Journal of Bankruptcy Law examining the best practices for a lender to proceed prior to and during a default by the developer of a mixed-use condominium. A softening real estate market is problematic for all construction lenders, but particularly for lenders financing the development of condominiums, which entail a great deal of risk as a result of the nature of a condominium and the government’s involvement in the process of creating, selling and, sometimes, operating condominiums.

READ: Protecting Condominium Construction Lenders When Developers Default (Page 6)