#1: CRE Triage as we Dip into the Recession | Rick Chess

Some commercial real estate deals can be saved as we enter the recession caused by the global coronavirus pandemic. Some deals cannot be saved. What questions should lending and credit professionals ask, and who should ask them, to determine whether a deal is in trouble, or will be.   Topics discussed in this episode: 3:29 Information bankers cannot access now 7:29 Restrictions based on the CRE deal structure 12:07 Get on the phone 14:35 What should scare the lender? 19:12 Who should make the call? 20:33 An opening the borrower will appreciate   About Rick Chess: Rick Chess guides individuals and organizations through triage, transformation and triumph! Chess works with lenders, owners and investors to help them better understand their challenges and options, in clear concise language. He served as a member of the Pennsylvania General Assembly and as President of REISA (now ADISA), a national alternative investment trade association. He acquired 50,000 apartments and 10 retail centers for United Dominion Realty Trust (UDR), investing over $2 billion. Rick also helped develop and take public – as a founding board trustee -First Potomac Realty Trust (FPO) and served its Audit Committee Chair. He serves as a transactional attorney, focused on commercial real estate, equity formation and capital gains tax planning. Write him at [email protected] with a summary of your challenge. He will arrange a free 20-minute consultation, providing specific steps to start your process of triage, transformation and triumph! www.ChessLawFirm.com (804) 241-9999 [email protected]