Mark S. Edelstein | Source | Partner at Morrison & Foerster LLP
Mark S. Edelstein
Mark is a Partner at Morrison & Foerster LLP. He practices in the areas of real estate, REIT, and fund finance; private equity; workouts; restructurings; and bankruptcies. Mark regularly represents lenders and others in a wide variety of mortgage and construction loan transactions, and unsecured and borrowing base financings, involving—among other asset types—office, commercial, retail, industrial, multi-family, hospitality, healthcare, homebuilding, and condominium and cooperatives. He also represents lenders and others in complex real estate workouts, restructurings, and chapter 11 proceedings.
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Morrison & Foerster LLP (https://www.mofo.com/)
Partner
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Banks tearing off Band-Aid on bad office loans
Banks are facing up to the office sector’s decline, ditching the extend-and-pretend strategy for cut-and-run.
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I’ve never heard of this happening before. Banks are actually coming to us saying, ‘We’d rather take the hit today and lose maybe $10 million than give the borrower two years when we might take a $40 million loss.
