During September from coast to coast summer resorts slow down or closed but during the same 30 day period GERSON LAW FIRM APC showed no sign of slowing down and closed more than $100 million in commercial real estate loans on GSE lender engagements plus additional amounts for other lender financings in which the firm was representing lenders or borrowers.
Freddie Mac and Fannie Mae lender engagement loan closings ranged from a $23,000,000 loan in Los Angeles, to a $1,100,000 loan in Fayetteville, North Carolina. GERSON LAW FIRM was also active in closing loans in Arizona, Nevada, Oregon, Tennessee, and Texas.
During the same period of time, creditor rights litigation continued as a focus of the GERSON LAW FIRM’S litigation group.
In September, Gordon Gerson attended the California Mortgage Banker’s Western States CREF Conference in Las Vegas, where economists reported on increasing positive signs in most sectors of commercial real estate across the United States. “The mood was upbeat,” said Gerson. “Money is still flooding the market place where there is more money than deals, and banks are continuing to loan at rates making it difficult for other lenders to compete.”