©2023 Harry Photo, www.harryphoto.com
Q: How did you gravitate into turnaround/restructuring work? Boydston: I was at SMU (Southern Methodist University) Law, and after my first year, I went to every single law firm’s “meet our lawyers” event held during the summer for law students. At the end of the summer, I was at Greenburg Traurig...
Hearts Are Still in San Francisco—The Bay Area’s Case for a Comeback
Headlines decrying San Francisco’s recovery as among the worst in the nation aren’t hard to find. Retail and hotels being abandoned. A landmark office building sold at 74% of its early 2020 valuation. CRE defaults and impending maturity dates raising alarm. Regional bank failures lead to...
Generating Liquidity Through Real Estate in an Economic Downturn
During times of financial tightening and uncertainty, real estate owners and occupiers often need to broaden their traditional sources of financing to create liquidity and stay afloat. Over the course of the past year, there has been persistent talk of an impending recession in the U.S. Various...
When a Lease Is Being Assigned, Landlords  Must Act
As any commercial landlord who has been through a tenant’s bankruptcy is aware, the tenant must accomplish three things to assume and assign a real property lease under Bankruptcy Code Section 365: Cure all monetary and nonmonetary defaults capable of being cured. Provide adequate assurance of...
It’s Complicated: Commercial Mortgage-Backed Securities
Commercial mortgage-backed securities (CMBS) issuance peaked in 2007, at $230 billion, and was a source of high-proceeds, competitive-rate financing for commercial real estate and multifamily. Following the Great Recession, the Dodd-Frank Act of 2010, and the 2012 economic recovery, the CMBS...
 Coping with  Rising Interest Rates & Declining   Property Values
As the commercial real estate (CRE) industry grapples with the aftermath of the COVID-19 pandemic, it is seeing property values decrease while facing significant challenges that include rising interest rates and $1.5 trillion in debt maturities over the next four years. A combination of factors is...
Leader Board: Jeffrey C. Hampton
One of TMA’s core values is that it is chapter-centric and dedicated to ensuring an active, vibrant, and consistent experience for TMA members at the local chapter level. I have had the great honor of serving as TMA Global Vice President of Chapter Relations this year, and I am pleased to report...
As Global Crisis Unfolds, TMA Membership Is a Necessity
I often talk about actionable optionality and the things that keep us fresh and vibrant as an association. And in that, I speak to vision, creativity, and how our leaders and members are creating new experiences that support the power of member value and the TMA brand. A few weeks ago, having...
JCR Guest Editor
The commercial real estate industry is no stranger to distress cycles. Commercial real estate deals are often highly leveraged, subjecting properties, their owners, and lenders to potential distress when the cost of capital increases, boosting the risk of loss for all stakeholders. Recent history...
UCC Article 9: Extracting Business Value from Distress

As a streamlined alternative to bankruptcy or ABCs, a strategic UCC Article 9 short-sale of business assets can resolve and relaunch a business operation, predictably and efficiently, requiring only the consent of the senior creditor and defaulting borrower. Through a senior lender’s Article 9...