Commercial Real Estate

Plaintiff entered into a loan agreement with a developer of low-income housing, which provided for a 25% rate of return, and the principal and interest were due and payable in 12 months. Eight months after the loan was made, the lender claimed that the loan also granted the lender a 15% interest in the property. The developer denied that the loan agreement was modified, and denied that the lender ever received an interest in the property. When the developer tendered the full amount to the lender, plus the interest, the offer was rejected and a lawsuit was filed. After a full day of mediation, the lender accepted a little more than the principal and interest due under the note in satisfaction of the lawsuit.

Successfully mediated dispute between commercial landlord and retail tenant stemming from non-payment of rent during Covid 19 pandemic. The tenant defended on the grounds that performance under the lease was excused on the grounds of impossibility, i.e. State and local health and safety orders prohibited the operation of the business.