Mezzanine Lending
- Selected by a major New York-based hedge fund to design and develop mezzanine loan documents for a new product developed for Fannie Mae’s delegated underwriting and servicing (DUS) program in which the fund is the exclusive provider of mezzanine funds for all new Fannie Mae multifamily product originations. This project was particularly challenging due to the need to train dozens of Fannie Mae licensed lenders in the legal process to originate and sell mezzanine loans secured by multifamily projects. (Ramius Capital Group; RCG Longview)
- Represented a national pension fund lender in a $53 million mezzanine loan forming part of a $150 million refinance of a 600-room hotel in New York City.
Construction and Development
- Represented a national lender in numerous construction financings (aggregating more than $400 million to date) involving condominium projects located in the New York City area.
- Represented a developer of a master-planned community in southern California in connection with a $100 million credit facility to fund entitlement and infrastructure costs.
- Represented a national lender in connection with numerous mortgage loans to finance the construction and renovation of commercial buildings located in New York City.
- Represented the lenders in a $625 million construction financing of a regional “super mall.”
- Represented the lender in connection with a $400 million mortgage loan secured by properties that include a major development in Miami-Dade County, Florida.
Multifamily and Affordable Housing
- Represented a national mortgage banker under the Freddie Mac multifamily loan program in a $234 million cross-collateralized financing of 10 projects that involved the credit enhancement of tax-exempt bonds.
- Represented the sponsors of both the mezzanine program adopted by Fannie Mae and the high leverage second mortgage program adopted by Freddie Mac.
- Represented national lenders in “bridge” financing of properties undergoing re-positioning.
- Represented numerous lenders in hundreds of permanent loans under virtually every variation of the multifamily programs of both Fannie Mae and Freddie Mac.
REITs and Other Institutions
- Represented a publicly-traded real estate investment trust (REIT) in the acquisition and financing of a 158-property portfolio of buildings for an aggregate purchase price of $769 million.
- Represented various private equity funds and private REITs in connection with more than $1 billion dollars of financing.
- Represented a lender in connection with multiple mortgage financings in the aggregate amount of more than $1 billion to a REIT secured by office buildings and other properties located primarily in Florida.
- Represented a life insurance company in connection with multiple permanent loans, including a recent $112 million office building portfolio refinance.
Workout and Loan Administration
- Represented the servicer in a 20-property, $700 million multifamily assumption and debt restructuring by a public REIT.
- Represented a national special service in connection with multiple workouts, deeds in lieu, forbearance, etc., including a $69 million settlement of hospitality mortgage default.
- Represented numerous lenders in loan assumptions and in connection with requests to servicers for consents to other transfers under the multifamily programs of both Fannie Mae and Freddie Mac.
- Represented special servicers in workouts of defaulted loans including foreclosure, deed in lieu transactions and pursuing claims under lenders’ title insurance policies.