NEWS

April 2005

Conduit Loan Closings and Other News

GERSON LAW FIRM APC has represented a lender in closing two conduit loans during the first 15 days of April, 2005. Conduit loans closed include a $12,200,000.00 loan for a two office building complex in Torrance, California and a $3,350,000.00 loan for a self-storage facility in the Sacramento area.

Other news updates for the first two weeks of April, 2005, include the following:

• The Firm represented a fast growing Southern California portfolio holder in acquisition of an office building in Oceanside, California with major environmental issues which will be remediated post-closing.
• The Firm represented one of the largest shopping center REITS in the United States evicting a commercial tenant in Oceanside, California.
• The Firm co-sponsored the 5th Annual Business Lending and Participation Conference on April 3-6, 2005, in Scottsdale, Arizona, presented by the California Credit Union League and Business Partners, LLC. The conference was attended by representatives of more than 100 credit unions and included a symposium presentation relating to economic outlook for credit unions, underwriting, loan servicing, and other topics important to the rapidly expanding commercial loan sector of the credit union industry.

GERSON LAW FIRM APC represents national lenders on loan closings, special servicing, and enforcement proceedings throughout the United States, and closing loans throughout the United States. The Firm's practice includes representing lenders closing loans under Fannie Mae's DUS Lending Program and Freddie Mac's Program Plus for multifamily investments, and the Firm represents major national banks, conduit lenders and life insurance companies in commercial loan closings for hotels, office buildings, shopping centers, multifamily and construction.

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