$640 Million CMBS Loan Modification for a Landmark Tower in Boston

CMBS Trust

Representation of CMBS Trust in transaction permitting owner of landmark Boston tower and holder of leasehold interest in the adjacent garage to expand its business operations by obtaining an additional leasehold for the station and related air rights, and to pursue redevelopment of the station prior to maturity of the $640 million CMBS loan. In a highly unusual structure, the CMBS Trust consented without requiring this additional leasehold interest and income to be pledged to the Trust. Our team obtained rating agency approval for the transaction from all three major rating agencies, and prepared and negotiated with the borrower all elements related to this extremely complex multi-party consent transaction.

Representation of B piece and special servicer clients, handling in excess of $130billion in 2.0 CMBSsecuritizations.
Representation of an energy company in its $9.45 billion all-cash acquisition of another energy company, resulting in the creation of the largest utility holding company in the United States.
Handled the sale of over 2,000 REOs, with aggregate purchase prices in the billions of dollars, through both the negotiation and closing of individual sales and the structuring and sale by auction of multiple properties. The largest was approximately $216 million, which was the sale of a major hotel...