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Luis Salazar of Salazar Law, Joseph Pack of Pack Law and Aleida Martinez-Molina of Weiss Serota Helfman Cole & Bierman. L-R: Luis Salazar of Salazar Law, Joseph Pack of Pack Law and Aleida Martinez-Molina of Weiss Serota Helfman Cole & Bierman. Courtesy photos

A wrinkle in real estate bankruptcy law leaves an opening for property owners in tough times, which may feed an expected spike in bankruptcy filings.

Single-asset real estate bankruptcies, or SAREs, are streamlined reorganizations for debt taken out by borrowers on just one property, giving them a three-month window to propose a restructuring plan. That’s a much shorter time span than a typical Chapter 11 that also is subject to extensions.

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Lidia Dinkova

Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.

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