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Working Out Hotel Property and Loan Capital Stacks in a Pandemic – Legal and Business Issues

Speaker(s): Al Whitehouse, Jeffrey W. O'Neale, Jonathan E. Martin, Joseph Philip Forte, Stacy G. Ackermann
Recorded on: Feb. 11, 2021
PLI Program #: 319073

Jeffrey O’Neale is a partner in Mayer Brown's Charlotte office and a member of the Real Estate Markets practice. He focuses his practice on representing institutional lenders, financial institutions and servicers in a variety of secured and unsecured financial transactions including commercial mortgage loan originations, single-family residential mortgage loan originations, loan workouts and restructurings, repurchase and warehouse facilities, credit facilities and equipment lease transactions. A primary focus of his practice is representing special servicers in loan workouts, restructurings and modifications and repurchase facility buyers in the servicing and administration of their commercial mortgage loan portfolios.

Jeffrey earned his JD from the University of Michigan Law School and his BA in international finance and marketing from the University of Miami (FL).

Joseph Philip Forte was recently named General Counsel for AmTrust Title Insurance Company.  Prior to taking on this role, Mr. Forte was in private practice as a partner in several major New York law firms and has substantial experience in commercial real estate capital markets and finance, with a particular emphasis on the origination, structuring, workout and enforcement of commercial mortgage loans, having closed tens of billions of dollars during his 47 years in private practice, including permanent, bridge and construction mortgage lending; mezzanine finance; pari passu and subordinate debt; co-lending and participation agreements; loan sales and purchases; loan workouts, foreclosures and restructurings; and environmental risk management for lenders. Through six cycles of downturns and recoveries of real estate markets, Joe has been at the forefront of many major innovations and reform in the real estate finance industry, including the development of the secondary and securitization mortgage markets; reform of Dodd Frank Act’s Basel III High Volatility Commercial Real Estate (HVCRE) Rule; and working with industry on the transition away from LIBOR.

Widely recognized as a leader in the real estate finance industry, Joe has received the Commercial Real Estate Finance Council’s (CREFC) Founder’s Award (2001), the Mortgage Bankers Association of America’s Distinguished Service Award (1998) and the CREFC’s Leadership Award for his service as President (1998-1999) and since 2000, he has regularly been highlighted by Chambers for his real estate practice. Joe has been recognized annually by The International Who’s Who of Real Estate Lawyers (WWL) as one of the top 10 most highly regarded lawyers, and from 2010 to 2013 and 2017 and 2018 as "Global Real Estate Lawyer of the Year". Joe was featured in the Real Estate chapter of the inaugural Who’s Who Legal: Thought Leaders 2017, and thereafter. In 2019, he received the WWL’s highest accolade its Lifetime Achievement Award as “a pioneering figure in real estate financing” working “at the forefront of commercial real estate reform.”

Joe has also been recognized in the Euromoney Guides to the World’s Leading Real Estate Lawyers, Construction and Real Estate Lawyers, Structured Finance and Securitization Lawyers and Banking Finance and Transactional Lawyers, The Legal 500, as well as Best of the Best-United States, Best of the Best-Globally, and Best of the Best, and as "Highly Recommended" by PLC Corporate Real Estate Leading Lawyers Guide. Joe is regularly chosen as a Super Lawyer in New York and is listed in The Best Lawyers in America. Joe frequently publishes and speaks on mortgage finance and workouts, capital markets, regulatory and related issues and is the recipient of several “Best Article” awards from legal and industry publications on commercial real estate finance topics; is the founder and publisher of CREFC’s CRE Finance World magazine since 1999; and is the Contributing Editor of Lexology’s annual Getting the Deal Through - Real Estate and author of that publication’s annual Global Overview and USA Chapter since 2013. He is a fellow of the American College of Real Estate Lawyers, the American College of Mortgage Attorneys, and the Anglo American Real Property Institute, which he served as Chair in 2015 as well as the New York City and New York State Bar Associations.  Joe is active in MBA, CREFC and The Real Estate Roundtable and their working groups.

Stacy Ackermann is a finance partner at K&L Gates LLP, practice area leader for the firm's global finance practice and also serves on the firm’s management committee. Stacy advices financial institutions, investment funds and other market participants in all aspects of structured finance and credit market transactions. Stacy has extensive experience representing servicers of commercial mortgage-backed securities, including securitizations, the purchase and sale of servicing rights and all other aspects of asset management for performing and nonperforming assets.  She also has extensive experience leading complex loan restructurings and workouts involving highly structured debt secured by commercial real estate. 

Stacy’s practice extends beyond typical transactional finance representations to include risk management and strategic advisory services for her clients.  In addition, Stacy is a recognized leader in the commercial real estate finance industry and frequently speaks on current legal issues at industry-wide events.