$1.7 Billion Refinancing of Credit Facilities

LNR Property Corporation

Refinancing of $1.7 billion senior credit and mezzanine facilities on behalf of LNR Property Corporation, a subsidiary of LNR Property Holdings Ltd., which was controlled by the private investment firm Cerberus Capital Management, L.P. The new credit facility is comprised of a $225 million revolving credit facility (with an option to increase the facility by up to $75 million), two $150 million term loans, and a $1.1 billion term loan (with an option to increase the principal amount by up to $75 million). The transaction involved hundreds of related entities throughout the United States, Bermuda, the United Kingdom and other countries. Deutsche Bank Securities, Inc., and Goldman Sachs Credit Partners, L.P., served as joint lead arrangers, book running managers, and agents for the new facility.

Robert M. Siegel
Partner, Head of Commercial Finance
Oversaw the servicing of over $6 billion worth of hotel loans involving sales and loan assumptions, restructurings, mergers, deeds-in-lieu of foreclosure, forbearances and other workouts, changes in franchises/ flags, operating/ master lease issues, private equity takeovers, changes in management, e...
Served as borrower's counsel in a $2.7 billion multi-tiered syndicated secured and mezzanine acquisition loan transaction involving a financial services company.
Representation of special servicers in connection with borrower requests for lender consent to various matters involving billions of dollars of performing CMBS loans including loan assumptions, equity transfers, loan modifications, forward and reverse 1031 exchanges, post-securitization mezzanine lo...