I have been a real estate lawyer in New England for 22 years, having represented several large national retailers and developers, and have found that through my association with American Consultants, Inc., I have been able to make a substantial contribution to saving the real estate industry. I have helped hundreds of people save their homes through loan modifications.
Now that the residential real estate market appears to be stabilizing, there will be a great deal of attention paid to the commercial real estate market. American Consultants, Inc. is proud to announce the opening of its commercial division. There are thousands commercial properties that are under water, and this number increases in magnitude every day. The International Council of Shopping Centers (ICSC) has stated that commercial real estate values are down 30% to 40%, which is even more than residential real estate. The Congressional Oversight Panel of the TARP program has estimated that banks hold roughly $1.5 trillion of commercial real estate loans whose terms will expire within the next three years. In addition, as we have seen in residential real estate, lending standards for commercial real estate have become increasingly stringent. Additionally, the flow of capital for most commercial real estate loans has dried up as a part of the credit crunch that has been thrust upon us during the "Great Recession." An owner of commercial real estate faced with reduced net operating income to service debt along with a loan that is on the verge of having its term expire has very few options if holding on to the property is the ultimate goal.

Fortunately, our company, American Consultants, does not foresee the future as being as bleak as some of the economic naysayers. We have seen through our vast experience in residential loan modifications that there are many excellent alternatives to losing a property to a lender, where all sides end up being winners. American Consultants has designed a program specifically for the commercial real estate market. We will continue with our model of an attorney based program with a staff of extremely experienced commercial real estate attorneys. The first step in our program is completing an in depth analysis of a property, and examining the current situation with an eye to the future realistic potential. We will refer a client if need be, to our partner company that specializes in managing and leasing commercial real estate to maximize an asset while giving a lender confidence in the execution of a workout plan. This together with our team of well seasoned real estate attorneys to negotiate with lenders, spells a formula for success. American Consultants, also has a well capitalized group of investors that are standing by to inject new capital into properties to help de-leverage properties, as well as outright purchasing properties. This ability along with the experience to negotiate a short sale with favorable terms is another alternative to the preservation of a property owner's net worth.
There is an alternative to foreclosure where all sides will end up being pleased with the results, and American Consultants is ready to assist those property owners.

Moss Sidell, Esq. is vice president and general counsel of American Consultants, Inc., Newton, Mass., with offices in N.Y.