Economy Flounders but Spring Flowers at GLF

April 1, 2008
Posted in: News
By: Gerson

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.