| September 20, 2011

Emerging Issues in Commercial Real Estate Financing

Borrowers and lenders, having survived the Great Recession and now facing the possibility of another recession with both the federal government and real estate owners and lenders having significantly fewer tools with which to deal with it, are attempting to avoid the costly mistakes of the past. Among the victims of the Great Recession were many sophisticated lenders and investors whose deals collapsed because the structure and documentation did not anticipate events. Between the continued absence of the securitization market, the moribund recovery, the limited available assistance from the federal government, debt stacks with multiple levels of senior and mezzanine debt, and the cost and complexity of new governmental laws, regulations, and mandates emanating from Dodd-Frank, there are tremendous hurdles facing anyone involved with commercial real estate financing.

This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Tahmidur Remura Dewey LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent. For further information on Tahmidur Remura Dewey LeBoeuf, please visit www.tahmidurrahman,com. +1 888 532 6383