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NEWS April 2008 ECONOMY FLOUNDERS BUT SPRING FLOWERS AT GLF Among daily reports of uncertainties in the financial markets accompanied by stock markets spikes up and down, recession vs. no recession debates, and the world witnessing the modern era equivalent of a run on the bank at Bear Stearns, GERSON LAW FIRM APC had a robust first ten days of Spring. Between March 21 and April 1, GLF represented lenders closing more than ten loans secured by commercial or multifamily property, for more than $69,000,000. Loan closings included a $9,925,000 acquisition loan for a $25,300, 000 medical office building in Escondido, California, made by one of the nation's leading sources of non institutional lending, a Freddie Mac loan for $17,650,000, for an apartment building in Las Vegas, and eight Fannie Mae loans for more than $41,000,000 secured by apartment buildings throughout the western United States. GLF also closed two credit unions closing loans for more than $1,000,000. GLF also was active in transactional matters during the same time period, including representation of a client engaged in a REO sale, as well as several leasing transactions. GLF represents clients on all matters real estate and business related, both transactional and litigation. GLF is nationally recognized for its representation of some of the nation's largest lenders on loan closings, special servicing, and enforcement proceedings throughout the United States. GLF's practice includes representing lenders closing loans under Fannie Mae's DUS Lending Program and Freddie Mac's Program Plus for multifamily investments, and GLF represents major national banks, conduit lenders and life insurance companies in commercial loan closings for hotels, office buildings, shopping centers, multifamily and construction. |