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NEWS December 2004 Year-End Closings Include Sale of Commercial Loan Portfolio Year-end closings activity in which GERSON LAW FIRM APC included representation of a major California bank in a loan portfolio sale transaction for more than $80,000,000.00. The loan portfolio sale transaction closed in less than eight business days, and involved more than 50 loans secured by small commercial real estate. During the month of December, the Firm was also involved in several loan closing transactions, including a Fannie Mae DUS loan secured by a ground leasehold interest, subject to the jurisdiction of the United States Department of the Interior, Bureau of Indian Affairs, and a Fannie Mae DUS loan for a multifamily property in Olympia, Washington. GERSON LAW FIRM APC represents national lenders on loan closings, special servicing, and enforcement proceedings throughout the United States, and closes 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.  |