CRE Insider Blog

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Recent Posts by Jack Murray

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Wraparound Mortgages Revisited

By Jack Murray on March 22, 2017
A wraparound mortgage transaction has been described as follows: [A] preexisting mortgage (usually of first priority) on the real estate remains in place, while a new “wraparound” mortgage of second priority, generally for a higher balance, is placed on ...
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Topics: Wraparound Mortgages

When is a Sale-Leaseback an Equitable Mortgage?

By Jack Murray on March 10, 2017
When two sets of sophisticated real estate investors represented by experienced counsel say something is a duck -- and it quacks and swims with its webbed feet -- is it a duck?
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Topics: Equitable Mortgage Sale-leaseback

Nonassignability Clauses in Commercial Leases: When is an assignment not an assignment?

By Jack Murray on February 16, 2017
What is the scope of a non-assignability provision in a commercial lease? How specific must the non-assignability language be to cover collateral assignments for security as well as absolute present assignments of possession and use? If the lease clause ...
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Topics: Assignments

Defaulted Note But No Foreclosure Permitted: A “Zombie Mortgage” in Wisconsin

By Jack Murray on January 19, 2017
A recent Wisconsin Court of Appeals opinion, MidCountry Bank v. Bork, 371 Wis. 2d 564 (2016), serves as a reminder for lenders and attorneys that judicial foreclosure in Wisconsin (and many other states) is an equitable remedy -- which a court may either ...
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Topics: Wisconsin

Pre-Workout Agreements Revisited – Are They Enforceable?

By Jack Murray on December 1, 2016
In response to the surge in lender-liability claims against mortgage lenders commencing in the mid-1980s -- especially in connection with affirmative claims or defenses of borrowers based on breach of an alleged oral agreement to extend, modify or ...
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Topics: Mortgage Lending Pre-Workout Agreements

The EB-5 Program - Financing CRE

By Jack Murray on October 13, 2016
On December 15, 2015, Congress passed an Omnibus appropriations bill containing, among other things, an extension of all current EB-5 rules (with no modification) until September 30, 2016 (“2016 Extension Period”). Congress recognized the need for reform ...
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Topics: EB-5 Program

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