Gilbert E. DeLorme
TEL: (202) 452-1400 ext. 5682
Washington, DC 20036-5605
Gil DeLorme represents financial institutions, real estate developers, and a number of charter schools and other not-for-profit organizations in the purchase, sale, financing and development of commercial and residential real estate, primarily in Maryland, Virginia and the District of Columbia. Mr. DeLorme's lender practice involves the structuring and documentation of new loans or refinancing of both residential and commercial property throughout all three jurisdictions, advising lenders as to the handling of troubled credits and when necessary, undertaking workouts with defaulted borrowers, including bankruptcy and foreclosure actions to realize recovery against secured collateral.
Mr. DeLorme's current representation of a major real estate developer is significant in that the developer's activities involves the redevelopment of a parcel of land in the District of Columbia in excess of 100 acres, which when completed will include housing, a shopping center, and commercial office uses. This project is the largest of its kind in D.C. Mr. DeLorme has actively represented a major public utility in the sale, purchase, and leasing of real estate utilized by the public utility in the delivery of its utility services to clients throughout Maryland, Virginia and D.C. and a major pension fund in the acquisition and sale of multiple office buildings and shopping centers. Many of the charter school acquisitions involve structuring real estate finance packages from several non-conventional financing sources such as the District of Columbia Government itself, charter school support organizations, public and private tax exempt bond transactions and commercial banks. As a part of these activities very complex intercreditor and other agreements have been required to be structured in order to close on these transactions. Likewise, in the representation of regulatory entities such as the FDIC and the Resolution Trust Corporation (RTC), Mr. DeLorme has been called upon to work with government regulators who have found themselves thrust into the role of real estate lenders, sellers and often landlords for properties which they have acquired from failed financial institutions.
Mr. DeLorme is a founding shareholder of GDL. Prior to returning to private practice in 1983, Mr. DeLorme served as the in-house general counsel of Perpetual Savings Bank which was then one of the largest savings and loans in the D.C. metropolitan area. Upon returning to private practice in 1983, Mr. DeLorme represented many banks and thrifts principally in the areas of real estate finance, secondary market loan purchases or sales, and creditors rights. Between 1990 and 1993, Mr. DeLorme represented the RTC and the FDIC in working out troubled credits on behalf of these governmental entities as they acquired control over troubled savings and loan institutions.