At Goulston & Storrs, our experience with complicated loan portfolio transactions predates the current economic downturn. The team's extensive depth and experience with real estate and commercial loan portfolios has earned the trust and respect of a wide range of financial institutions by handling billions of dollars in loan acquisitions and dispositions during periods of turbulence. We also represent a number of private equity groups and opportunity funds on a variety of distressed real estate opportunities. These capabilities are complemented by our experience and national reputation in corporate finance, commercial real estate, workouts and bankruptcy. Our Loan Portfolio Services group is multi-disciplinary and includes our most experienced attorneys from several practice groups, including Commercial Finance, Corporate, Bankruptcy & Restructuring, Environmental, Real Estate, Retail and Litigation.
We understand both the buy and sell-sides of managing large loan portfolios. We oversee all aspects of the transaction and coordinate the key players involved in the deal. Our due diligence process focuses on analyzing, integrating and managing only the relevant information. Our focus on critical components helps the portfolio to be acquired or disposed of quickly.
- Bank of America
- Credit Suisse First Boston
- Flagship Capital Management
- Resolution Trust Corporation
- State Street Bank
Representative Projects and Transactions
- Represented the Resolution Trust Corporation (RTC), a federal agency set up to resolve the savings and loan crisis, in connection with several large portfolio sales.
- Advised US Trust (now Bank of America) in the purchase of Sumitomo US/New Englands commercial loan portfolio, consisting primarily of large, syndicated loans, and in the purchase of BankBoston's middle market portfolio sold as a result of BankBoston's acquisition of BayBank.
- Represented a major investment bank in connection with the acquisition, through a joint venture, of a portfolio of over $200,000,000 in first mortgage and mezzanine loans.
- Represented a private equity, mezzanine lending fund based in Toronto, Canada, on an acquisition of a portfolio of discounted notes on land development deals in several different states.
- Represented client in forming joint venture to acquire an asset based loan to a national retailer in chapter 11 and liquidate collateral through court-approved going-out-of-business sales.
- Represented client in the acquisition of subordinate participation interests and senior working capital loans to a group of affiliated plastics manufacturing companies, and the subsequent workout and foreclosures and acquisition of operating company.
- Represented a private equity fund in the acquisition of undeveloped and partially developed land from a homebuilder as part of a so-called 363 sale in bankruptcy.
- Represented State Street Bank in the sale of its commercial loan banking business to Citizens Bank, including the assignment of unmatured commercial loans.