Liana W. Spendlove

Partner

Phoenix

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602.351.8095 direct

LSpendlove@perkinscoie.com

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Liana has extensive experience in a range of real estate finance transactions and offers guidance to borrowers and lenders, including commercial mortgage-backed securities noteholders in navigating these transactions.

Liana Spendlove assists clients with commercial loan workouts, loan originations, loan assumptions, sales and acquisitions, leasing, and other related transactional matters. Clients trust her to handle local and multistate commercial real estate and lending transactions, including construction and long-term financing; retail and office leasing negotiations; office, retail, hotel, and raw land sale and acquisitions; joint venture and real estate investment formations; and due diligence matters.

Liana also has experience with commercial mortgage-backed securities (CMBS), specially serviced real estate loans, including loan review, modifications, assumptions, receivership sales, note sales, forbearance agreements, extensions, foreclosure, title and survey, and other due diligence review.

Areas of focus

Industries

CMBS and Real Estate Workouts

Real Estate

Services

Financial Transactions

Real Estate & Land Use

Real Estate Finance

Leasing

Education & Credentials

Education

Brigham Young University, J. Reuben Clark Law School, J.D., magna cum laude, Order of the Coif, Editor, Brigham Young University Law Review, 2005
Brigham Young University, B.S., summa cum laude, 2000

Bar and Court Admissions

Arizona
Utah

Related Employment

Brigham Young University General Counsel’s Office, Provo, UT, Law Clerk, 2003-2005
Kirton & McConkie, Salt Lake City, UT, Extern, 2004

Impact

Professional Leadership

State Bar of Arizona
State Bar of Utah
CREW Utah
Maricopa County Bar Association

Professional Experience

Representative Real Estate Financing Experience

Represented lender in connection with pre-construction financing in the amount of $15,240,000 for entitlement and improvements costs relating to the planned conversion of a hotel into mixed-use condominiums.
Represented lender in connection with a revolving line of credit of up to $125,000,000 secured by real and personal property.
Represented lender in connection with syndicated construction financing in the amount of $83,500,000 for planned multifamily property in California.
Represented lender in connection with syndicated construction financing in the amount of $51,750,000 for acquisition and development of multifamily property in Utah.
Represented borrower in connection with restructuring of mortgage and mezzanine debt in the approximate amount of $65,000,000 for a hotel property in Nebraska.
Represented borrower in connection with revolving credit facility in the amount of $35,000,000 secured by crops located in California and Arizona.
Represented land banker in connection with the financing of 258 residential lots.

Representative Commercial Mortgage-Backed Securities (CMBS) Loan Workout Experience

Represented CMBS noteholder, by and through special servicer, in assumption and modification of a $200 million loan secured by an office building in Los Angeles, California.
Represented CMBS noteholder, by and through special servicer, in the modification and cross-collateralization of two loans in the aggregate amount of approximately $65,000,000 secured by hotel properties located in Portland, Oregon.
Represented CMBS noteholder, by and through special servicer, in modification and assumption via receivership sale of a $105 million loan secured by a mixed retail/office complex in Huntington Beach, California.
Represented CMBS noteholder, by and through special servicer, in modification and assumption via receivership sale of a $65 million loan secured by an office building in Phoenix, Arizona.
Represented CMBS noteholder, by and through special servicer, in modification and assumption of an $85 million loan secured by a shopping plaza in Carlsbad, California.
Represented CMBS noteholder, by and through special servicer, in discounted payoff of a $47.3 million loan secured by a retail center in Sacramento, California.
Represented CMBS noteholder, by and through special servicer, in reinstatement of a $19,320,000 loan secured by a multifamily condominium in Ontario, California.

Other Experience

Acquisition by 11:11 Systems, Inc.

Represented 11:11 Systems, Inc. in the acquisition of Green Cloud Technologies, LLC, an independent channel-only cloud Infrastructure-as-a-Service (IaaS) provider.

Bulk Reef Supply Acquisition of Marine Depot

Represented Bulk Reef Supply, a national leader in wholesale and retail aquarium supplies and portfolio company of Bertram Capital, in the acquisition of Marine Depot.

Hydrofarm Holdings Group, Inc. Acquisition of Aurora Innovations Inc.

Represented Hydrofarm Holdings Group, Inc. in the acquisition of Aurora Innovations, LLC (formerly Aurora Innovations Inc.), Aurora International, LLC (formerly Aurora International, Inc.), and Gotham Properties LLC, an Oregon-based manufacturer and supplier of organic hydroponic products with locations in the United States and Canada.

Represented Les Schwab Tire Centers

Represented Les Schwab Tire Centers, a 68-year old family-owned business and leading tire retailer and service center operator, in its sale to Meritage Group.

Grocery Store Portfolio Purchase

Represented Albertson’s LLC in the purchase of substantially all New Mexico assets of Raley’s Grocery Stores, including all 10 of its New Mexico retail stores, and the sale of an Albertson’s location in Sonora, California, to Raley’s.