Biography: Real Estate

Lee M Smolen is a partner in Sidley's Chicago office and a member of the firm's executive committee. He leads the Chicago office real estate practice and is a global coordinator of the global real estate practice area team. His work is concentrated on commercial real estate with an emphasis on workouts and restructurings, debt and equity financing, structured finance and acquisitions and dispositions of real estate (and interests in real estate). Mr Smolen has represented institutional investors, commercial banks, investment banks, insurance companies, pension funds, their investment advisers, REITS and opportunity funds.

Mr Smolen has represented lenders, borrowers and investors in connection with defaulted mortgage loans of all types. Mr Smolen is experienced in connection with the sale and purchase of loans and loan portfolios. He is also experienced with innovative strategies in remedies, deeds-in-lieu of foreclosure and consensual foreclosures.

Mr Smolen has represented clients in the full range of loan origination activity, including, CMBS, construction, permanent and interim financing arrangements, fee and leasehold financings, sale-leaseback financings, mezzanine financings, structured finance transactions and multi-property and multi-state financings. The loans have involved various types of assets, including, hotels, resorts, office buildings, shopping centres, multifamily, condominiums and industrial properties.

Mr Smolen has also represented a variety of clients in connection with the acquisition and disposition of property (and portfolios of properties). The transactions have involved various asset classes (located throughout the United States), including, hotels, resorts, office buildings, shopping centres, multifamily and industrial properties. The projects have often involved joint venture work, property management work and leasing work.

Mr Smolen has handled many real estate loans that were originated for securitisation. He has dealt with the issues that must be addressed in properly documenting and analysing a loan for securitisation. In addition, he has represented both the master and the special servicer in connection with the day-to-day administration of securitised loans. He has also represented clients in connection with the workout and restructuring of these loans.

Mr Smolen has also represented lenders in connection with the development of their form loan documents and the administration of their loan programmes.

A certified public accountant, Mr Smolen received the Elijah Watt Sells award the year he took the CPA exam (top 100 scores in the nation; 7th highest score in the state of Illinois). He received his JD from the University of Chicago Law School in 1985 and his BS (with highest honours) from the University of Illinois in 1982. He is admitted in Illinois.