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NEWS March 2007 GERSON LAW FIRM APC OBTAINS APPOINTMENT OF RECEIVER ON THREE MULTIFAMILY PROPERTIES Mark Clairmont of GERSON LAW FIRM APC successfully obtained an order for appointment of a receiver for three multifamily family properties in San Diego County. While receivership activity for multifamily properties has been at a historic low since the late 1990's, GERSON LAW FIRM APC has a long established reputation for assisting lenders with special loan servicing needs. Mr. Clairmont guided a lender who had three defaulted loans with the same borrower, commencing an action for appointment of receiver and judicial foreclosure. The Firm was also actively engaged throughout March providing representation to its lender clients on loan originations. Among commercial real estate financing, the Firm closed a portfolio of three Fannie DUS loans in Orange County, as well as other Fannie Mae loans in both Southern and Northern California, closed a CDO loan in California. The Firm also represented a licensed California non-institutional lender making private money, high interest loans secured by commercial and multifamily real property collateral in Oregon, Washington, and Texas. GERSON LAW FIRM APC, represents clients on all matters real estate and business related, both transactional and litigation. The Firm 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. The Firm's practice includes representing lenders closing the 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. |