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Banking and Financing

Our Practice

National in scope, Pedersen's banking and financing practice represents both lenders and borrowers in a wide range of commercial finance matters. We tailor traditional and innovative lending vehicles to meet the highly sophisticated needs of our clients.

The current economic environment presents significant challenges to banks, institutional lenders, and borrowers seeking to close complex financing deals. These clients benefit from our experience in structuring transactional solutions that are at once creative and compliant.

Our representation of lending institutions encompasses the full scope of commercial credit transactions, including documenting and negotiating loans as well as restructuring loans of troubled companies and properties. We have extensive experience in loans secured by real estate and other assets, secured and unsecured credit facilities, and letter of credit transactions.  Our team has represented major Chicago banks in loans to developers and owners of office buildings, industrial facilities, and residential projects.

We have considerable experience in tax-free bond deals. We have represented the Illinois Development Finance Authority (IDFA) on projects involving the issuance of tax-exempt industrial revenue bonds and local government program bonds ranging in size from $2.5 to $15 million on behalf of manufacturers, 501(c)(3) organizations, educational facilities, and municipal entities. Pedersen & Houpt lawyers have also represented lenders in multi-million dollar IDFA bond transactions.

When restructuring a delinquent loan is no longer a viable option, we assist both lenders and borrowers in reaching consensual settlements. When settlements are not possible, we represent clients in mortgage foreclosures and bankruptcy proceedings.

Pedersen litigators provide comprehensive dispute resolution services. We represent clients in federal and state courts throughout the Midwest, handling a broad range of issues relating to lender liability, bankruptcy, non-performing loans, mortgage foreclosures, preference actions, and guaranties.

Our Experience

  • Represented Chicago-based regional lenders in numerous multi-million dollar real estate financing and commercial loan matters.
  • Handled a complex securitized permanent takeout financing in excess of $275 million for newly completed hotels.
  • Represented a REIT fund established to acquire office buildings in Florida. Created a four-tier equity, financing, and property ownership fund structure to meet the diverse goals and requirements of the investors and lenders.
  • Successfully worked out and restructured approximately $600 million of aggregate indebtedness involving 50 real estate projects throughout the U.S.
  • Represented a financial institution in the sale of its REO portfolio containing more than 45 commercial properties located across the U.S. with an aggregate value of more than $500 million.
  • Counseled a developer in connection with a deed in lieu of foreclosure transaction relating to a $300 million mortgage which encumbered condominium, hotel, retail, and parking garage properties in Chicago, Illinois.
  • Represented IDFA in a $15 million Local Government Program Bond issue.