Commercial Banking, Real Estate & Business Transactions

Overview

The members of the Goldberg Simpson Commercial Banking, Real Estate & Business Transactions practice serves the dynamic, fast-moving Kentucky real estate market through extensive experience in commercial real estate development and transactions, commercial financing, workouts and restructurings including:

Sales and purchase transactions ▪ Commercial loan closings (including preparation and negotiation of loan documents) ▪ Residential loan closings ▪ SBA lending transactions ▪ Investment real estate transactions ▪ Banking and lender loan documentation ▪ Uniform commercial code issues ▪ Rendering assistance on a local basis for sales and purchase and/or financing transactions requiring local opinions of counsel ▪ Real estate and business workouts and restructurings ▪ Lease negotiations and sale/leasebacks ▪ Negotiation and structuring of bond issues to finance business projects in both the public and private sector

This practice serves Kentucky financial institutions, including large national banking associations as well as smaller state and local lending institutions, and to all types of borrowing entities.  We negotiate, draft and handle loan transactions from Small Business Administration (SBA) loans to large, complex loans.

We also handle sales, purchase and lease transactions for commercial developers, investors, health care providers and others in all areas of commercial real estate, including transactions involving apartment projects, shopping centers and malls, industrial properties, hotels, and office buildings, and 1031 tax deferred exchanges.

Large developments are also part of portfolio, as we represent residential single and multi-family development companies, and have established numerous condominium regimes and community associations in Louisville, Lexington, Bowling Green, Frankfort, Pikeville and many other cities in Kentucky.

Attorneys:

Highlights

Goldberg Simpson has secured workout solutions on behalf of both lenders and debtors in troubled loan situations involving multi-million dollar packages of loans and portfolios of real property.

Cases of Note

Goldberg Simpson notches win for client in real estate law case involving foreclosure sale

Today the Kentucky Court of Appeals rendered its opinion in Kentucky Housing Corp. v. Coots (no. 2012-CA-001382-MR, designated “Not To Be Published”), which reversed the judgment of the Johnson Circuit Court. Goldberg Simpson attorneys Stephen R. Solomon and Brant W. Sloan represented the successful appellant, KHC.

The Coots case involved a foreclosure sale in Johnson County. The Goldberg Simpson litigation team had obtained a judgment and order of sale from the circuit court, which had required that the Master Commissioner sell the land only if KHC’s agent was present at the sale. Four months later, despite the clear language of the court’s order, the Master Commissioner sold the property before KHC’s agent could arrive at the sale. Despite several efforts to have the circuit court enforce the terms of its prior judgment, the court confirmed the sale. On appeal, Solomon and Sloan argued on behalf of KHC that: (1) the Master Commissioner had no discretion to ignore the clear terms of the circuit court’s judgment and order of sale, and (2) the circuit court lost jurisdiction to modify the terms of its judgment 10 days after it had been entered, meaning the trial court had erred by approving the sale.