Real estate partners Salvatore Gogliormella and Peter Fisch's latest transactional real estate column, "Real Estate Loan Workouts," appeared in the October 14 issue of the New York Law Journal. The authors discuss the various incentives for lenders to pursue workouts over foreclosure in the commercial real estate industry, which is currently under enormous stress due to the pandemic's restrictive measures. Although an increasing number of commercial real estate loans are facing borrower default-the second quarter of 2020 reportedly saw a 65% increase in the overall delinquency rate-lenders in default scenarios are currently more compelled to offer relief measures to their borrowers, in the form of either short-term forbearance or a permanent loan modification. Real estate associate Matthew Dulak assisted in the preparation of this article.
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