Interdependent, Dual-Tracked Acquisition Transaction
Exchanging debt for ownership in a multifamily property acquisition.
Two contacts of the Firm approached it for counseling regarding their proposed acquisition of a multifamily property in San Diego. There was just one problem—that same property was currently subject to a large judgment against the property’s current owner.
The Firm was able to negotiate and structure a deal in which the clients would compensate the judgment creditors in exchange for their release of the judgment and associated encumbrances, while simultaneously assisting the client in purchasing the property itself from the judgment debtor.
Ultimately, the deal closed and the client is now well into remodeling and revamping the property.