Richard S Fries

May 09, 2024 | New York Law Journal

This two-part series examines several options for the commercial real estate loan in distress. As the second installment of this series, this article identifies and examines a more creative approach, one which right-sizes the loan and the underlying real estate and resets value for today's market.

By Richard S. Fries

11 minute read

May 02, 2024 | New York Law Journal

Today's commercial real estate market is in distress and has been, across a variety of asset classes, for several years. The reasons are well-known. Less well known is possibly the surest solution in this down cycle. This is a method to right-size commercial real estate loans where the value of the underlying real estate is so much lower than it was only a few years ago.

By Richard S. Fries

12 minute read

July 10, 2023 | New York Law Journal

This two-part series examines several significant aspects of "syndicated" and "participated" commercial real estate loans. The first installment provided a primer on the important features of syndicated loans. This final installment focuses on loan participations and provides a summary of the key differences between these two constructs.

By Richard S. Fries and Darby K. Brown

5 minute read

April 06, 2023 | New York Law Journal

This two-part series describes several significant features of and distinctions between the "syndicated" and "participated" real estate loan that are not commonly known or understood.

By Richard S. Fries and Darby K. Brown

13 minute read

January 11, 2022 | New York Law Journal

In this Commercial Real Estate column, Richard Fries discusses strategies and drafting techniques relevant to commercial real estate loan workouts and enforcement, and identifies some of the current solutions proposed during this pandemic-impacted workout cycle.

By Richard S. Fries

17 minute read

June 19, 2020 | New York Law Journal

The distressed real estate loan workout is a business deal filled with mutual compromise that right-sizes the asset and resets the loan obligations and the parties' expectations. Any lender making material economic concessions has bargained for, and should acquire the type of legal enhancements discussed here.

By Richard S. Fries

13 minute read

September 17, 2019 | New York Law Journal

A discussion of the "pre-workout" or "pre-negotiation" agreement which parties to a loan workout should execute prior to engaging in substantive negotiations among them.

By Richard S. Fries

13 minute read

November 09, 2017 | New York Law Journal

In this second part of a two-part article, Richard S. Fries concludes his discussion of essential provisions to include in a “state of the art” commercial real estate loan forbearance agreement. Here, he covers economic concessions, additional collateral, recourse and remedies.

By Richard S. Fries

19 minute read

November 02, 2017 | New York Law Journal

In this Outside Counsel article, Richard S. Fries begins a discussion of what a forbearance agreement—perhaps the most common commercial loan workout device—should look like.

By Richard S. Fries

19 minute read

July 23, 2015 | New York Law Journal

Richard S. Fries and Todd B. Marcus write: It is well-settled that a purchaser of real property takes title subject to the outcome of a lawsuit of which that purchaser has actual knowledge. It is equally well-settled that this rule does not apply to appeals. Until now.

By Richard S. Fries and Todd B. Marcus

12 minute read