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Friedman LLP

Distressed Loan Workouts

Distressed Loan Workouts

Powering Through Tumultuous Events
  • Overview
  • Service Menu
  • Insights & Events

Overview

As more and more assets and loans are being devalued or entering default, lenders are shifting from making loans to maintaining, enforcing and working out existing loans. For these complicated and delicate tasks, we stand ready to provide lenders and borrowers with specialized expertise to reduce financial risks and improve loan performance.

Friedman combines its comprehensive understanding of real estate lending and commercial real estate to help you manage and resolve workouts of distressed loans, equity interests and properties. We guide all types of lenders as well as borrowers, asset managers, special servicers, private equity owners and their representatives through the complex workout process.

How We Help:

Friedman is a top-40 accounting firm with 12 locations, nearly 600 financial professionals and a long-standing history of supporting clients through economic turbulence. In nearly a century of doing business, we have forged strong relationships with some of the largest real estate developers in the U.S.

Friedman’s dedicated Loan Workout Group brings expertise across a broad field of practice areas to handle all aspects of distressed loans and equity – from the business and tax ramifications of loan restructuring and disposition to financial due diligence.

  • Real Estate – Our established industry professionals bring best practices and proven strategies to help you reach the right resolution amidst widespread economic upheaval. We leverage relationships throughout the industry to connect you with distressed property specialists – including receivers, attorneys, alternative banks, money sources or others.
  • Tax – Friedman’s tax professionals advise you on the broad tax implications of any business alternative and decision. We help assess the viability of proposed business activities from a holistic perspective.
  • Forensic Accounting, Litigation Support and Valuation Services – We get to know and appreciate the facts underlying the business arrangement to help you best resolve the distressed situation – and reach a solution that maximizes the value of your assets.

To learn more about how we can help you enhance performance and minimize risks in your loan work out, contact us. 

Service Menu

Friedman guides you through each stage of your loan workouts. From the earliest due diligence to settlement and the examination of your tax liabilities, we are by your side to provide sophisticated, clear advice and reassurance. Our services include:

  • Verifying property cash flows and testing projected financial and operational performance of the subject asset
  • Reviewing existing leases, expirations, and renewal provisions
  • Evaluating loan documentation to ensure completeness, including reviewing leases, guarantees and cross-collateralization documents
  • Consulting on the tax ramifications of loan foreclosures, forbearances, workouts, lease and/or debt modifications, deeds in lieu, restructurings and defeasance transactions
  • Reviewing transactions involving portfolios, reps and warranties, waterfall provisions and other structured financing arrangements
  • Assisting with collateral pool assessment and evaluation, including data integrity and document completeness
  • Working with special servicers to augment their asset remediation and resolution strategies
  • Crafting a loan workout plan -- including settlement negotiations

Insights & Events

  • June 2, 2021 Negotiating Critical Office Lease Issues & Avoiding Loan Workout Mistakes

    Learn the latest hot issues in lease negotiations and where lenders and borrowers often go wrong before and during loan...

    Read more
  • April 15, 2021 Friedman to Co-Present at Tricks & Traps in Making & Enforcing Commercial Leases

    Friedman's Randy Paulikens will be speaking at an informative presentation geared towards real estate attorneys and commercial real estate executives on...

    Read more
  • March 25, 2021 Building Up Your Business During Economic Distribution: Minimizing the Tax Consequences of Loan Workouts

    As the real estate industry continues to struggle with economic challenges created by the pandemic, restructuring debt and leases can...

    Read more
  • March 1, 2021 Five Important Tasks for a Real Estate Debtor in Financial Distress:

    The commercial real estate market has experienced an increase in delinquencies for commercial mortgage-backed securities (CMBS) from 2.29% in April...

    Read more
  • March 1, 2021 Five Important Tasks for a Real Estate Debtor in Financial Distress:

    The commercial real estate market has experienced an increase in delinquencies for commercial mortgage-backed securities (CMBS) from 2.29% in April...

    Read more
  • February 17, 2021 Recover and Grow with these Expanded Offerings

    Tackle unprecedented challenges and drive your financial success forward with guidance in these key areas: Financial Recruiting: Find the talent you need...

    Read more
  • January 27, 2021 [Recording] Dressed for Distress:

    Fred Berk was recently featured in an exclusive virtual finance forum, "Dressed for Distressed" in collaboration with Commercial Observer. This timely...

    Read more
  • January 26, 2021 [NEW Video Blog] Outlook From the Inside: Real Estate Loan Workouts

    The real estate industry is rapidly adapting in response to the economic impact of COVID-19. Watch this new episode of Outlook from...

    Read more
  • October 14, 2020 [NEW] Outlook From the Inside: Video Blog

    How Will the Presidential Election Impact Your Business Taxes? Watch today's segment, featuring emcee Michael Greenwald and guest speaker Robert Charron...

    Read more
  • June 2, 2021 Negotiating Critical Office Lease Issues & Avoiding Loan Workout Mistakes

    Learn the latest hot issues in lease negotiations and where lenders and borrowers often go wrong before and during loan...

    Read more
  • April 15, 2021 Friedman to Co-Present at Tricks & Traps in Making & Enforcing Commercial Leases

    Friedman's Randy Paulikens will be speaking at an informative presentation geared towards real estate attorneys and commercial real estate executives on...

    Read more
  • March 25, 2021 Building Up Your Business During Economic Distribution: Minimizing the Tax Consequences of Loan Workouts

    As the real estate industry continues to struggle with economic challenges created by the pandemic, restructuring debt and leases can...

    Read more
  • January 27, 2021 IMN Virtual NYC Distressed CRE Forum, Friedman to Moderate

    Friedman will serve as a co-sponsor of this virtual forum bringing together institutional investors, fund managers, lenders, developers, special servicers, and...

    Read more
  • January 26, 2021 Commercial Observer Distressed Debt Forum, Moderated by Friedman

    Friedman is proud to be the exclusive accounting firm sponsor and to have Fred Berk, Friedman's Co-Managing Partner and Real...

    Read more
  • View all Events
  • View all Insights

Spotlight

Spotlight
  • [Webinar Recording]: Minimizing the Tax Consequences of Loan Workouts
    [Webinar Recording]: Minimizing the Tax Consequences of Loan Workouts

    Our Loan Workout Group addresses the importance of proper structuring to prevent unintended, negative tax consequences of loan modifications, debt forgiveness, and lease modifications.

    Read more

Related Services

Related Services
  • Recovery and Growth Consulting
  • Tax Services

People

People
  • Frederick R. Berk
    Frederick R. Berk
    CPA, Co-Managing Partner
    fberk@friedmanllp.comp 212.842.7530
  • Randall M. Paulikens
    Randall M. Paulikens
    CPA, ABV, CFF, CITP, Partner
    RPaulikens@friedmanllp.comp 732.852.5500
  • Meet more of the team

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