Zachary J. Bancroft

During the COVID-19 pandemic, successfully completed the workout of over 10 CMBS loans with a total debt of over $200 million.

Represented a lender in connection with the foreclosure of a securitized loan with an amount in controversy of $78 million secured by a retail center in Florida, prevailing in a bench trial and appeal.

Represented a lender in connection with the workout of a $20 million agricultural loan, including multiple forbearance agreements, a chapter 11 bankruptcy, two foreclosure filings and a settlement agreement which resulted in a full payoff to the lender.

Represented a lender in the successful completion of the foreclosure of a $135 million loan secured by an office park.

Represented a client in the successful completion of the foreclosure of a large mixed use development with total debt of over $100 million.

Represented a client in the successful completion of the foreclosure of three assisted living facilities with a total debt of over $75 million.

Represented a special servicer as lead counsel, successfully negotiating the consensual foreclosure of a Florida retail center with a loan amount of approximately $8 million. The borrower and guarantors were seeking certain releases, which were not provided as part of the settlement.

Represented the lead lender in the foreclosure of a $57 million participation loan on a condo-hotel located in Orlando, Florida. The foreclosure was the result of a settlement involving the inclusion of additional adjacent property, which allowed the lenders to quickly re-sell the property after foreclosure. The negotiations also involved the hotel maintaining its flag.

Completed the $12 million foreclosure of a mixed-use property. Managed the proceedings, appointed a receiver and negotiated a confidential settlement with a guarantor.

Negotiated a consensual chapter 11 plan on behalf of a special servicer, resulting in the recovery of all attorneys' fees incurred in connection with a loan default both pre-and post-bankruptcy. The borrower remains current on the loan.

Successfully represented a lender in the foreclosure of a student housing apartment complex in Tallahassee, Florida. The representation involved obtaining a rents sequestration order, appointment of a receiver, and a favorable ruling as to the contest maturity date of the loan. The foreclosure was complicated by the fact that there were over 30 borrowers structured as a "TIC Loan."

Completed the $4 million foreclosure of a distressed retail center. This was important to the client, as it was the first time they were required to foreclose on a Florida asset.

Completed the $10.3 million foreclosure of a distressed retail center involving a dispute with the principal borrower about the turnover of rents and security deposits.

Completed the $3 million foreclosure of a medical and dental services-focused retail center, including the appointment of a receiver.

Served as lead counsel on behalf of a banking client in pursuit of a guarantor of a commercial loan. The client sought a deficiency amount of over $3 million. The matter was confidentially resolved prior to trial.

Successfully represented automotive floor-plan lenders in multiple loan workouts, replevin actions, and bankruptcies, and in connection with dealership sales.

Assisted two banks in recovering on a defaulted $21 million loan secured by a Florida assisted living facility. Successfully petitioned for the appointment of a receiver and obtained a full payoff of all principal, interest, and legal fees.