CHICAGO –   Attorneys David Arnburg, Jessica Lingertat, Linsey Cohen and Joe Marzo, of Gould & Ratner LLP, legal and business advisors to entrepreneurs and closely held family-owned, middle market and Fortune 500 companies, presented a program entitled "Buyer Beware – Are You Ready for the Real "As Is"?  The New Normal for Valuation and Due Diligence in the Acquisition of Distressed Real Estate" on Thursday, June 24, 2010 in the Conference Center of their offices at 222 N. LaSalle Street, Chicago, Illinois.

The speakers provided guidance on the complicated due diligence necessary to evaluate distressed real estate.  In addition, John C. Mundie of Mundie & Company, Inc. offered his thoughts on how to properly value these properties and how appraisers are determining values in this market.

Topics discussed included the what, why and who of acquiring distressed properties; identifying the types of distressed properties that exist in the marketplace; risks and common pitfalls of buying a distressed property; and understanding the new "as is." 

The speakers also addressed the different hurdles and issues of buying from a non-traditional seller; how to analyze existing leases and tenant dynamics in distressed properties; complex land use and third-party development issues impacting the future of a distressed project; and how to assess and deal effectively with your seller.

David Arnburg advises owners, developers, and lessees of commercial and industrial real estate.  A significant portion of his real estate practice involves leasing and management of commercial office buildings, the form and structure of real estate ownership, ground leases, acquisition and sale of commercial properties, financing of real estate projects, property management agreements, and construction contracts.  Mr. Arnburg can be reached at darnburg@gouldratner.com.

Linsey Cohen focuses her practice in the area of commercial real estate, where she advises developers, owners, property managers and investors on a wide range of matters, including leasing, financing, acquisitions, sales, and workouts.  She also has extensive leasing experience, which includes large retail properties.  Ms. Cohen can be reached at lcohen@gouldratner.com.

Jessica Lingertat's areas of practice include all aspects of commercial lending and real estate law, including the representation of lenders, developers, management companies, and other corporate clients in commercial real estate transactions, leases and financing and with respect to development issues and related business matters.  Ms. Lingertat can be reached at jlingertat@gouldratner.com.

Joe Marzo's areas of practice include all aspects of real estate law, including the representation of lenders, developers, management companies, and other corporate clients in commercial real estate transactions, financing, land use issues, leases, construction contracts, and related business matters.  Mr. Marzo can be reached at jmarzo@gouldratner.com.

For addition information on this presentation or questions regarding due diligence and valuation of distressed properties, please contact any of the above attorneys at their e-mail address or 312.236.3003.

 For more than 70 years, Gould & Ratner LLP has provided comprehensive legal counsel and business advice to sophisticated entrepreneurs, family businesses and middle market companies operating in a range of industries, including manufacturing and distribution, technology and telecommunications, financial services, real estate, construction, food & beverage, gaming and emerging new economy areas, to name a few.  Gould & Ratner's attorneys have handled more than $8 billion of transactions and an average of 25 merger/acquisition and 20 venture capital and lending transactions per year in the last decade.  Gould & Ratner LLP acts as General Counsel for domestic and international companies with annual sales in excess of $1 billion and has structured sophisticated and complex domestic and foreign transactions as well as tried and settled thousands of lawsuits and workouts.  For additional information, visit www.gouldratner.com.