Real Estate/Development
Nov. 24, 2011
Firms on failed deals play new matchmaker role for clients
Whether it be looking to other clients as capital sources or persuading municipalities to accept new types of entitlement rules, real estate lawyers are using unorthodox methods to help resurrect troubled projects.
Daily Journal Staff Writer
The builder of a 150-room hotel and resort in La Quinta was millions of dollars behind in loan payments, and it was starting to look like the project wouldn't get off the ground.
But the lawyers representing the title company building the project had an idea: Why not introduce the developer to an investor client the firm had worked with on unrelated projects? The idea was to see if the inv...
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