Gerson Law Firm APC, which specializes in all aspects of real estate, real estate finance and related litigation, continued strong growth in 2012. Last year, the firm closed 136 commercial loans from coast to coast.
Managing partner Gordon L. Gerson said as the economy continues to improve in 2013, Gerson Law Firm will see an increase in commercial loan originations.
“The amount of capital chasing deals today is higher than any time in memory,” he said. “On the other hand, even as the economy improves, there will be an overhang of bad debt emanation out of loose underwriting in 2006 through 2008. A total of $85 million of CMBS (commercial mortgage-backed securities) loans alone will mature prior to 2018 and the default percentage will likely remain the same as today, continuing to hover around 10-11 percent, based upon some reports.”