John Benson represents lenders, pension fund advisers, syndicators and commercial mortgage servicers and special servicers in various aspects of real estate finance and real estate structured finance. John’s practice concentrates on securitized commercial real estate loans, affiliated debt products, structured finance and the resolution of nonperforming or sub-performing real estate assets. More specifically, John brings a thorough understanding of real estate mortgage investment conduit (REMIC) regulations and the way they impact commercial mortgage origination and loan servicing, including servicing publicly traded commercial mortgage-backed securities (CMBS) trusts, as well as legal risk management in entrepreneurial and developing businesses.
Prior to joining Eversheds Sutherland (US), John served as vice president and associate counsel for GMAC Commercial Mortgage Corporation, where he managed the legal representation for various GMAC subsidiaries involved in commercial mortgage origination, servicing, brokering and resolution. He was responsible for establishing ongoing legal support for a mortgage servicing outsourcing operation in Hyderabad, India, and providing legal support to GMAC mortgage operations in Tokyo. Prior to its acquisition by GMAC, John was general counsel of CapMark Services L.P., and general counsel for CapMark’s predecessor, AMRESCO Services L.P. During his time with CapMark and AMRESCO, John closed in excess of 100 commercial mortgage-backed securities transactions representing approximately $160 billion in commercial mortgage servicing rights.
Selected Experience
Aided Bank of America as special servicer in $1.3 billion loan workout.
Represented mortgage lender group in $785 million credit facility modification.
Represented LNR in tenant in common workout.
Awards and Rankings
Honored with BTI Consulting Group’s Client Service Award for delivering unsurpassed client service (2018)
Recognized by The Legal 500 United States in the area of real estate and construction (2016-2017)
Presentations
Loan Closing 2015 (May 5, 2015)
Mortgage Bankers Association Commercial/Multifamily Servicing and Technology Conference
Sutherland Partner John W. Benson presents on “Loan Closing 2015” at the Mortgage Bankers Association (MBA’s) Commercial/Multifamily Servicing and Technology Conference on May 5, 2015, in Boston, MA.
Data Security (May 4-7, 2014)
Mortgage Bankers Association (MBA)
Sutherland Partner John W. Benson presented on “Data Security” at the Mortgage Bankers Association (MBA’s) Commercial/Multifamily Servicing and Technology Conference 2014 at the Marriott New Orleans, ...
Publications
“Real estate structured finance transactions are a mix of real estate fundamentals, securities issues, regulatory issues, tax issues and economic analysis that must all align for the best interest of myriad interested parties, each having their own goals and objectives. The trick is to achieve all of those goals and objectives to the mutual satisfaction of all of the parties, while at the same time staying within the labyrinth of contractual, legal and ethical constraints.”
Legal Alerts
COVID-19 forbearance request provisions in new issuance securitizations (May 27, 2020)
The coronavirus disease (COVID-19) has created disruption in cash flows across a wide range of commercial real estate assets that has resulted in property owners requesting forbearance or other ...
CARES Act and the real estate industry: understanding the impact of COVID-19 (April 23, 2020)
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides a $2.2 trillion economic stimulus package to assist businesses and individuals who have been impacted by the current ...
Impact of hotel operators on distressed asset workouts (March 31, 2020)
This legal alert focuses on the impact that hotel operators may have on workouts of loans secured by hotel properties and summarizes the likely considerations that inform the decisions of hotel ...
The COVID-19 pandemic’s impact on US lease obligations (March 27, 2020)
As COVID-19 continues to spread and claim lives, various federal, state, and local government agencies have reacted with unprecedented measures around, among other issues, social distancing and ...
Impact of hotel operators on distressed asset workouts (March 24, 2020)
As the COVID-19 pandemic continues to impact the economy and the commercial real estate market, the restrictions on public gatherings and travel have placed the cash flow of many hotel properties in ...
COVID-19 checklist for real estate and construction projects (March 17, 2020)
With each passing day, the number of COVID-19 cases continues to rise and jurisdictions across the world are working hard to contain the contagion. People are rightly concerned about the impact that ...
Changes to 2016 ALTA Survey Standards - What You Need to Know (March 24, 2016)
The American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS) recently adopted revised Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys. ...
Legal Alert: Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent (October 28, 2014)
On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, ...
Legal Alert: Holder of Deed Need Not Be Holder of Note to Foreclose, Georgia Supreme Court Rules (May 23, 2013)
The Georgia Supreme Court held this week that the holder of a security deed need not also hold the underlying note to exercise the power of sale in accordance with the terms of the security deed. ...
Legal Alert: Michigan Court Holds Borrower’s Breach of SPE Requirement in Non-Recourse Carve-Out Provision of CMBS Loan Document Results in Full Recourse Liability for Borrower and Guarantor (January 23, 2012)
