Elevate your business with tailored, strategic legal guidance.
James Cochran
- Partner
Contact
Practice Areas
- Commercial Property Purchases and Sales
- Leasing Programs
- Financing Transactions
- UCC Transactions
- Workouts, Distressed Assets and Foreclosures
- Environmental and Entitlements
- Litigation and Appeals
- Other Engagements
Biography
Jim has extensive experience advising clients in workouts and restructurings involving complex collateral packages and multiple jurisdictions. Jim routinely represents secured lenders, distressed debt investors, special servicers and other clients in connection with secured loan restructurings (including consolidations), structured asset dispositions, collateral “take backs,” discounted payoffs, note sales and similar matters as well as lien enforcement proceedings (including judicial and nonjudicial foreclosures of retail, office, hotel and other properties and UCC sales of limited liability company and partnership interests).
Jim also advises lenders and investors in a wide variety of sophisticated commercial real estate financings, including mortgage loan transactions (both recourse and non-recourse) and mezzanine loan transactions.
Jim has particular expertise in loan portfolio reviews, secured financings, enforcement actions and other matters involving Article 9 (Secured Transactions) of the Uniform Commercial Code.
Jim also has particular expertise in designing, implementing and managing systematized and scalable programs, based on selected project management methodologies, to deliver a wide range of legal services in commercial real estate loan enforcement and other commercial real estate-related matters on a fixed fee or other predictable price basis.
Formerly a co-chair of the Uniform Commercial Code Committee of the California State Bar’s Business Law Section and a member of the Section’s Executive Committee, Jim recently served as a member of the Board of Governors of the Financial Lawyers Conference. He is currently a member of the Opinions Committee of the California Lawyers Association’s Business Law Section.
Jim is a fellow of both the American College of Mortgage Attorneys and the American College of Commercial Finance Lawyers.
Education
- The University of Texas School of Law, Austin, Texas
- J.D. - 1987
- Honors: With Honors
- Wesleyan University
- B.A. - 1977
- Honors: magna cum laude
Bar Admissions
- California
- Texas
Professional Associations
- Business Law Section, State Bar of California, Executive Committee
- Business Law Section, State Bar of California, Former Co-chair, Uniform Commercial Code Committee
- Business Law Section, American Bar Association
- American College of Mortgage Attorneys
- American College of Commercial Finance Lawyers
- Financial Lawyers Conference, Former Member
- Real Property Law Section, California Lawyers Association (successor to State Bar of California)
- Financial Lawyers Conference, Board of Governors
- CRE Finance Council
Published Works
- UCC Foreclosures: Overcoming Obstacles to the Sale and Evaluating Receivership and Bankruptcy Alternatives, Strafford Webinar (October 2017 and November 2018)
- Hot Legal Issues, Trigild Lender Conference (April 2018)
- Equity Interests as Collateral: Creating and Enforcing Security Interests in Stocks, Partnerships and LLCs, Strafford Webinar (March 2017)
- Structuring and Enforcing Commercial Real Estate Loans in California: Strategies for Maximizing Lender Leverage, Client Presentation (October 2016)
- Five Minute Tutorials on UCC Foreclosures, New Strategy to Defeat Lender Liability Claims and Other Topics, CRE Finance Council’s High Yield Distressed Realty Assets Forum’s Fifth Annual Educational Summit (October 2016)
- UCC Article 9 Issues for Lenders and Servicers: New Rules, Old Tricks and Pitfalls to Avoid, Client Presentation (April 2016)
- Mezzanine Loan Foreclosures: Effecting a UCC Foreclosure Sale and Navigating Bankruptcy Pitfalls, Strafford Webinar (October 2015)
- Lessons Learned from the Great Recession, Trigild Lender Conference (April 2015)
- Equity Interests as Collateral in Commercial Lending, Strafford Webinar (April 2012, August 2013 and April 2015)
- Making Money Through Leasing, Client Presentation (October 2014)
- Real Estate Mezzanine Lending: Lessons from Recent Foreclosures for Documenting and Closing the Transaction, Strafford Webinar (October 2014)
- How to Spot – and Deal With – UCC Security Interest Issues in Sales and Mortgages of Real Estate, ALI CLE Webinar (September 2014)
- The Real World: Case Histories of Resolutions by Portfolio Lenders, Trigild Lender Conference (October 2013)
- Workout Case Study, CRE Finance Council’s West Coast Distressed Debt Conference (May 2013)
- Successful Resolutions, Trigild Lender Conference (April 2012)
- Special Properties, Special Problems – Part II, Trigild Lender Conference (April 2012)
- How to Maximize Your Loan Recovery (Without Being Trapped by the One Action and Other California Rules), Client Presentations (March 2012)
- Back to Basics, Second Annual Educational Summit of CRE Finance Council’s High Yield and Distressed Investment Forum (September 2013)
- The Rules of the Game, First Annual Educational Summit of CRE Finance Council’s High Yield and Distressed Investment Forum (September 2012)
- Mortgage Enforcement and Realization, California Continuing Education of the Bar (January 2012)
- Real Estate Issues for Corporate Transactional Attorneys, California State Bar Annual Meeting (September 2011)
- Selling Distressed Commercial Real Estate Through Receiverships, ALI-ABA Webinar (December 2010)
- How to Deal with Secured Assets Beyond Real Property, Trigild Lender Conference (November 2010)
- Timber Financing Issues: Real Property, Goods, or Inventory?, ALI-ABA Webinar (October 2010)
- Never File Your Own Financing Statement, Meeting of Commercial Finance and Uniform Commercial Code Committees’ Joint Task Force on Filing Office Operations and Search Logic, ABA Annual Meeting (August 2010)
- Am I in the Money, or Is My Waterfall Running Out of Water?, Financial Lawyers Conference (January 2010)
- Author, Chapter 7 – Taking and Perfecting a Security Interest in Personal Property Collateral Under Commercial Code Division 9, California Real Estate Finance Practice: Strategies and Forms (2019)
- Co-author, eBook — Structuring and Enforcing Commercial Real Estate Loans in California: A Practical Guide (October 2018)
- Co-author, “Structuring Enforceable Guaranties of California Commercial Real Estate Loans: Avoiding ‘Fault’ and ‘No Fault’ Sham Guaranties and Other Lender Traps,” Business Law News (March 2018)
- Co-author, “Structuring Enforceable Guaranties of California Commercial Real Estate Loans,” The Practical Real Estate Lawyer (July 2017)
- Author, Chapter on Uniform Commercial Code and Related Matters, Trigild Deskbook: Guide to Receivership and Foreclosure (6th ed. 2017)
- Co-author, Chapter on California Receivership and Foreclosure, Trigild Deskbook: Guide to Receivership and Foreclosure (6th ed. 2017)
- Co-author, “Have We Learned Anything from Foreclosing on Pledged Equity Collateral in Real Estate Mezzanine Lending?,” The Practical Real Estate Lawyer (September 2013)
- Co-author, “Enforcing Defaulted CMBS Loans through Receivership Sales: Risks and Rewards of the Modification, Sale and Assumption Transaction under California’s ‘One Action’ Rule,” CRE Finance World (January 2011)
- Co-author, “Into the Forest Primeval – Is It Real Property or Goods; or, Heaven Forbid, Inventory?,” The Practical Real Estate Lawyer (November 2010)
- “Complex Collateral for Workouts and Deals,” Business Law News (Issue 2: July 2009)
- Co-author, “Commercial Loan Recovery 101: How to Obtain Maximum Returns,” Commercial Lending Review (May-June 2009)
- “Security Interests in Deposit Accounts, Securities Accounts and Equity Interests,” The EAGLE 9 Newsletter of the UCC Division of First American Title Insurance Company (Winter 2009)
- “Enforcing a Mezzanine Loan by Public Foreclosure Sale,” The EAGLE 9 Newsletter of the UCC Division of First American Title Insurance Company (Fall 2008)
Classes & Seminars
- "Handling Curves in the Lender Ballpark", Trigild Lender Conference , 2008
- "Distressed Loans And Bankruptcy: Working Out Defaults", IMN's 5th Annual Western Borrowers' & Investors' Forum on Real Estate Mezzanine Loans, 2008
- "The Uniform Commercial Code: Article 9 Update", Lorman Education Services Seminar, 2007
- "Strategies for Dealing with Commercial Loan Defaults", Trigild Lender Conference, 2007
- "Navigating Commercial Loans from Watch List to Recovery", Trigild Lender Conference, 2006
- "Strategies for Non-Performing Loans", Trigild Lender Conference, 2005
- "Strategies for Non-Performing Loans", Trigild Lender Conference , 2004
- "Going Concern Commercial Real Estate Loans: The Nuts & Bolts of Defaults & Recovery", Trigild Lender Conference , 2002
Representative Clients
- Represented national bank making $95 million syndicated mortgage loan secured by two office properties in Santa Clara County, California in negotiation and documentation of intercreditor agreement with asset management firm making $23 million mezzanine loan. Representation included parallel negotiation with co‑lender regarding terms and conditions of intercreditor agreement.
- Represented national bank in connection with $94 million acquisition loan secured by San Diego office and retail property.
- Represented life company lender in origination of $80 million loan secured by San Diego multifamily property.
- Represented national bank making $78 million mortgage loan secured by Los Angeles County, California office property in negotiation and documentation of intercreditor agreement with asset management firm making $16 million mezzanine loan.
- Represented national bank in origination of $61 million construction loan involving Los Angeles County multifamily property.
- Served as California counsel to out-of-state real estate investors in connection with $61 million mortgage loan (evidenced by A and B notes) and $4 million mezzanine loan used to acquire San Bernardino County retail property.
- Represented national bank making $55 million mortgage loan secured by Los Angeles County, California office property in negotiation and documentation of intercreditor agreement with asset management firm making $13 million mezzanine loan.
- Represented national bank in origination of $26 million refinancing loan secured by 4 Arizona multifamily properties.
- Represented life company lender in origination of $18 million loan secured by Santa Barbara County multifamily property.
- Represented California real estate developer in connection with $17 million refinancing loan secured by Placer County office property.
- Represented life company lender in origination of $17 million loan secured by Orange County medical office property.
- Represented life company lender in origination of $14 million floating rate loan secured by Salt Lake County, Utah industrial property.
- Represented real estate investor in connection with $14 million refinancing loan secured by Rhode Island and Wisconsin retail properties. Representation included prepayment and defeasance of prior loans.
- Represented life company lender in origination of $13 million loan secured by Salt Lake City, Utah industrial property.
- Represented life company lender in origination of $13 million loan secured by Los Angeles County multifamily property.
- Represented life company lender in origination of $12 million loan secured by Orange County medical office property.
- Represented life company lender in origination of $12 million loan secured by San Diego County multifamily property.
- Represented national bank in origination of $10 million construction loan involving Riverside County hotel property.
- Represented life company lender in origination of $7 million loan secured by Riverside County industrial property.
- Represented California real estate developer in connection with $7 million loan secured by Orange County office property.
- Served as California counsel to out-of-state real estate developer in connection with $5 million acquisition loan secured by Contra Costa County retail property.
- Represented life company lender in origination of $4 million loan secured by Riverside County industrial property.
- Represented California real estate developer in connection with $4 million acquisition loan secured by Santa Barbara office property.
- Represented California real estate developer in connection with $1 million PACE financing for installation of solar system and other energy-efficiency improvements to Orange County office property.
Past Positions
- Seyfarth Shaw LLP, Los Angeles, California, Partner