Overview
Our involvement in syndicated, club, and single bank real estate-related transactions covers a broad range of both secured and unsecured financing structures. Real estate-related transactions include construction and term loans, A&D loans, and general real estate-based corporate financings such as revolving and term credit facilities, acquisition/leveraged finance loans, synthetic/leveraged lease transactions, sale-leasebacks, construction lending, and conduit loans intended for securitization in states throughout the country. These transactions involve virtually every type of borrower and type of property. The firm also has deep knowledge of mortgage servicing, whole loan trading, mortgage warehouse facilities, and repurchase facilities.
Additionally, the firm has significant experience in defeasance transactions involving the substitution of collateral for real estate conduit loans in order for lenders to release the real estate from the lien of underlying mortgages. We have a practical and knowledgeable understanding of the qualified government securities required for providing sufficient cash flow to make remaining payments on the loans and the creation of the successor borrower entities required to substitute for borrowers under the original real estate loans. We also provide the required opinions for the completion of successful defeasance transactions.
Representative Work
Representative Work
Set forth below is a representative summary of transactions of the firm’s real estate finance practice. In each case the firm represented the lender or the agent:
- $1.4 billion revolving and term loan credit facility to commercial developer based on a real property borrowing base
- $600 million revolving credit facility to hotel/entertainment developer for hotel construction financing and based on a real estate borrowing base
- $510 million revolving/term loan bridge credit facility to a REIT
- $49 million residential condominium construction financing with mezzanine facility to private developer
- $200 million “silo restructuring” involving multiple entities and related credit facilities for commercial developer
- Over sixty loans of $1.25 to $2.5 million to private developer for build-to-suit free standing retail outlets in various states
- $169 million restructure of revolving credit facility to publicly traded hotel company
- $115 million restructure of term and revolving credit facilities to a large regional homebuilder
- $200 million term loan and $50 million revolver to a new GSA property REIT contemporaneous with its IPO
- $175 million restructuring with senior and mezzanine credit facilities for a large regional homebuilder
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- $62 million mixed use construction financing facility involving the sale of air rights to private developer
- $66 million office and residential condominium construction financing facility with fee and air rights development to private developer
- $123 million residential condominium construction financing facility to private developer
- $560 million 364-day revolving credit facility to public homebuilder to finance homebuilding operations
- $15 million revolving credit facility to utility subsidiary for infrastructure development at golf course community
- $8 million lot secured development term loan to private developer
- $30 million revolving acquisition and development facility to private fund related to commercial developer
- $200 million bridge facility to special purpose entity related to REIT with owner trust guarantors
- $500 million revolving credit facility to public, non-traded office REIT
- $175 million high leverage non-revolving bridge acquisition facility to newly formed office REIT
- $430 million revolving credit facility to office REIT
- $400 million revolving credit facility to office REIT
- $325 million revolving credit facility to retail REIT
- $500 million acquisition financing for private acquisition group
- $500 million revolving credit facility to REIT
- $650 million financing to prison REIT to accommodate the merger of two public companies
- $300 million revolving credit facility and $100 million acquisition term loan secured by stock to retail REIT
- $45 million stock secured revolving credit facility to affiliate of public, non-traded REIT
- $40 million revolving credit facility to private fund
- $112 million subscription based facility to investment bank related partnership
- $200 million term loan and $265 million 3-year revolving credit to healthcare REIT
- $30 million asset based credit facility and $10 million liquidity facility to credit tenant fund
- $300 million revolving credit facility secured by conditionally recordable mortgages to private partnership
- $100 million asset based facility to residential REIT
- $100 million term loan to diversified fund
- $375 million revolving credit facility to residential REIT
- $600 million subscription facility to investment bank related funds
- $45 million mezzanine-secured term loan and revolving credit facility to investment bank related SPV
- $44 million sale-leaseback with respect to a portfolio of manufacturing facilities in multiple states with a national footprint
- $88 million construction and revolving loans for the construction of a sawmill
