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State Legislation Protecting Bulk Condo Unit Investors Set to Expire in July

February 09, 2018

GrowthSpotter

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By A.D. Thompson

Alex Dobrev is highlighted in this GrowthSpotter article about the Distressed Condominium Relief Act expiration and what this could mean for the real estate market. As the vice-chair of the Condominium & Planned Development Committee of The Florida Bar and real estate shareholder at the firm, Dobrev questions whether this should expire at all. “There has been a battle between different interest groups,” he said. “Those who oppose the law feel like somebody needs to be responsible and on the hook at all times … but I think the vast majority of people would absolutely agree that the DCRA has been a good thing that has really made it possible for these condo projects to survive.” To read the article in full and find out how you can benefit, click on this GrowthSpotter link.


Alexander

Alex Dobrev is a shareholder and chair of the firm’s Multifamily & Condominium Group. His practice focuses on working with investors, developers and lenders on the acquisition, disposition, development and financing of multifamily, condominium and other commercial real estate projects, often involving distressed properties. He has significant experience evaluating, structuring and negotiating large-scale mixed-use development projects.

In the context of “broken” or “fractured” condominium projects in particular, he frequently works with lenders, bulk investors, and receivers to evaluate and implement exit strategies, including possible unwinding of the condominium regime, while identifying and minimizing potential successor developer liabilities and related risks.

Alex also counsels clients regarding Interstate Land Sales Full Disclosure Act (ILSA) compliance matters, including full and partial exemptions from the Act and overall offering structure.

An active member of the Real Property, Probate and Trust Law Section of The Florida Bar, Alex serves on the Section’s Executive Council and as vice chair of the Condominium & Planned Development, Information Technology, and Professionalism & Ethics Committees. He is also chair of the Commercial Real Estate Committee’s Blockchain & Digital Assets Task Force.

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