WASHINGTON, DC-When asked about latest trends in distress real estate investment, Wayne B. Heicklen, co-chair of the real estate group with New York law firm Pryor Cashman, talks about the back and forth negotiations between a troubled bank and an eager private equity investor over a few distressed assets.

The firm had its eye on certain assets in a portfolio of non-performing loans held by a financial institution on Long Island, NY. It quickly found, though, that the bank’s price expectations were too stringent, so it gave up. Then, the bank merged with another institution, so Heicklen’s client tried again and found the new ownerships more amendable to a sale.

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