Boutin Jones
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Client Results - Lender Support

  • Acquisition of Non-Performing Loan. The firm recently assisted a private equity firm in the acquisition from a national finance company of a $13 million non-performing loan secured by sixteen underlying, real and personal property secured loans. The firm assisted in the negotiation and documentation of the loan purchase, the diligence on the loan and the underlying collateral, the structuring of the transaction for tax and business purposes, and the closing of the acquisition. The firm currently represents the borrower in connection with the enforcement of the loan and matters relating to the underlying collateral. The Boutin team working on the transaction included Doug Hodell, Jim Moore, Mark Gorton and Gregg Philipp.

  • Loan Portfolio Acquisitions. The firm recently represented a regional bank in the acquisition from national banks and private equity firms of single-family residential loan portfolios with an aggregate value in excess of $100 million. The firm assisted in negotiation and documentation of trade confirmations, loan sale and servicing agreements, and assignment and assumption agreements establishing the terms of acquisition, on a "servicing released" basis, of seller-originated and secondary market loans. The Boutin team assisting in the transactions included Doug Hodell, Tom Mouzes and Mark Gorton.

  • Loan Origination – Ground Lease. We represented a regional bank in connection with the negotiation and documentation for the financing of a ground lease and the construction of a medical facility, including the negotiations with the ground lessor, ground lessee and build-to-suit subtenant under the Ground Lease.

  • Loan Modification and Workout. Representation of a local bank in a workout of five loans to related parties secured by a combination of commercial real estate, out-of-state residential property, and mitigation bank credits.

  • Lender Defense – Failed Development Project. We represented a publicly traded bank in a multi-party action resulting from the failure of a major development project, against claims for breach of covenants, constructive trust and specific performance in connection the with bank’s $11 million loan.

  • National Bank OREO Assistance. We currently assist a major national bank with a real-estate-owned portfolio consisting of a dozen land, office, retail and multi-family properties. We have prepared, and advised the client regarding, new leases, lease amendments and easement agreements to position the properties for sale. We have also prepared purchase and sale agreements and other documentation and review required for selling the properties.

  • Creation of Loan Program. Our lender support group represented the lender, CRHMFA Homebuyers Fund, in the development and implementation of a $25 million Moderate Income Retrofit and Conversion Loan Program, including: (i) negotiation of the California Energy Commission grant contract; (ii) the structuring and creation of loan program documentation, vendor contracts and underwriting guidelines; and (iii) the creation of loan servicing guidelines in connection with long term loan program administration. We previously represented the State’s California Integrated Waste Management Board in the design, documentation and implementation of the CIWMB’s award-winning Recycling Marketing Development Loan Program (RMDZ).

  • Claim for Recovery of Significant Losses. Boutin Jones Inc. successfully prosecuted a clam for recovery of significant losses incurred by a major local banking institution when it discovered that the mortgaged property was encumbered by a senior lien. The firm obtained a favorable ruling on insurance coverage for the losses from the Ninth Circuit Court of Appeals in December 2011, facilitating a settlement. Shareholders Doug Hodell, Bob Swanson and Michael Chase were the primary Boutin Jones attorneys on this matter.

  • Settlement and Short Sale. Members of our team negotiated a loan settlement agreement involving two separate commercial real estate secured credit facilities for related parties, one for a corporate borrower and the other for the individual owners. Under the settlement, the borrowers avoided bankruptcy, the bank obtained a partial pay down of the loan by the individual borrowers, and the real property collateral was sold in a short sale. While the bank suffered a loss, it minimized its write-off and avoided the expense and uncertainty of litigation and bankruptcy.

  • Loan Modification. We recently represented a large regional bank in connection with a loan modification agreement involving a secured line of credit facility to a corporate borrower which allowed the borrower to bring the loan current and into compliance.

Client Results
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Boutin Jones Inc.
555 Capitol Mall, Suite 1500
Sacramento, CA 95814
T: 916.321.4444
F: 916.441.7597