Real Estate Law

Financing, Workouts and Mezzanine Loans

Our lending practice is national in scope. We represent borrowers, institutional lenders, REITs and other investors in all facets of lending, refinancing, workouts, forbearance agreements, mezzanine loans and sale-leaseback transactions and foreclosures. Working with our corporate department, we are able to handle national and international transactions involving multiple foreign investors and equity structure documents to ensure compliance with tax and corporate and other entity laws. We work closely with our litigation group to avoid problems, pursue foreclosures, as well as to perfect our workout strategies. Our real estate team often collaborates with our corporate and litigation professionals to ensure that our clients are protected as best as possible given the dynamic and structure of each transaction. We frequently develop creative solutions to unique lending situations to ensure that transactions are closed in a timely manner and our client's needs are met. We have substantial experience in loan participations and co-lending relationships, including inter-creditor agreements.

We have extensive experience representing cooperatives and condominiums in the negotiation of all documents related to refinancing of underlying mortgages. Our clients rely on our seasoned professional to complete due diligence reviews cost efficiently when we are involved in the acquisition of distressed loans and properties. Because we represent both lenders and borrowers we have a keen understanding of the issues that are important to both sides and can effectively resolve matters to the satisfaction of all parties involved. In light of economic trends, we also advised numerous clients in forbearance situations and in negotiating restructurings of defaulted loans.

Representative Transactions:

• $70,000,000 refinancing of a prominent New York City office building on behalf of Apple Bank
• $10 Million mortgage loan refinancing adverse to Bank of America, for shopping center located in Seminole County, Florida.
• $14 Million construction loan adverse to Bank of America for a condominium development located in Central Park South, New York City.
• $55 Million refinancing on behalf of a well-known Bronx co-op, which is one of the largest co-op loans in the metropolitan region.
• $100,000,000 in four (4) refinancings for borrowers owned by the same client.
• Work-out for a $140,000,000 Mortgage loan and simultaneous resolution of $40,000,000 Mezzanine loan default, involving a NYC Midtown office building.
• $50 Million construction loan representing the lender, which involved an assemblage of a Park Avenue site, zoning lot merger agreements and "FAR Certificates".
• Work-out and ultimate repayment at par of a $500,000,000 mezzazine loan which was part of $200,000,000 capital stock.