Morgan Lewis

Real Estate Finance

Selected Representations

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 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 a public REIT in connection with the creation of a national mezzanine loan program, including the creation of form mezzanine loan documents, and the representation of such REIT in connection with its origination of mezzanine loans.
  • Represented a privately traded REIT in connection with the negotiation of two separate $200 million credit facilities involving securitized first lien financing and multiple piece mezzanine financing.
  • Represented various private equity funds and private REITs in connection with more than $1 billion 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.
  • 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.

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 services in workouts of defaulted loans including foreclosure, deed in lieu transactions, and pursuing claims under lenders’ title insurance policies.