For years, you loved working with your full-service law firm. Anything you needed was done thoroughly and without delay. Checklists were prepared and updated, documents were processed quickly, and while you heard about how expensive your counsel was from time to time, you always had tremendous confidence in your legal team.
Now, with a portfolio of underperforming assets on the books, you do not know where to turn. You have been tasked with putting a team together to make recommendations on whether to restructure the loan, or otherwise dispose of the collateral.
Unfortunately, your lawyers do not know anything about property management, asset appraisals, re-evaluating long-term internal rates of return or selling distressed debt portfolios. They know loan documents, and not much else. Where are these consultants that you need, and how do you get them involved quickly and thoroughly?
Levick Legal Group, LLC can provide the legal acumen and responsiveness you are accustomed to, while at the same time offering the consultation and additional resources you require:
- Networking: We want our clients to have a thorough understanding of the risks they face. This risk analysis is often accentuated by having a multidisciplinary approach, which allows for more sophisticated exit strategies with distressed debt. Our group has a history of working with not only the lending community, but also assisting REITs and entrepreneurial investors in both their due diligence and management of properties. As a result, our network of relationships extends into areas those of a traditional lender's counsel fail to reach. We are pleased to provide referrals to these other discipline areas, which are not often incorporated in the underwriting process, but are essential in the evaluation of collateral in these challenging times.
- Experience: Our firm includes a core group of seasoned counsel, who are able to provide strong support for national, regional and individual accounts. With attorneys averaging over 10 years of commercial real estate experience, our group possesses more experience than most large, multi-disciplinary firms can provide.
- Cost Containment: Nothing can be more politically sensitive than costs incurred after a loan is in distress, or making new borrowing relationships in the current economic environment. It is the exact time when costs need to be controlled, and the time in the economic cycle when mistakes are the costliest. With our boutique structure, we can provide superior legal acumen, combined with exceptional industry knowledge and contacts, all at pricing significantly below those of a full-service firm.
