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Restructuring of Over Fifty Commercial Distressed Mortgage Loans

Handled the drafting, negotiation and closing of over fifty major distressed commercial mortgage loans during the most recent downturn of the economy. These include numerous complex restructurings as A/B loans with the addition of borrower new equity and repayment mechanisms through sale or refinance and other workouts intended to restructure loans to facilitate repayments after defaults. Included by way of example are a $305 million loan secured by a portfolio of industrial properties on Long Island, New York; a $250 million loan secured by industrial properties in Brooklyn, New York involving a complete redevelopment of the properties; a $150 million loan secured by a retail property in Chicago, Illinois; a $102 million loan secured by an office building in Miami, Florida; a $100 million loan secured by an office property in New York City, New York; a $72 million loan secured by a portfolio of office properties in Virginia; a $70 million loan secured by a portfolio of multifamily properties in Maryland; a $63 million loan secured by a portfolio of retail properties in Hawaii; a $54 million loan secured by a portfolio of multifamily properties in Illinois and Maryland; and a $38 million loan secured by an office property in California.
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Experience

Representation of B piece and special servicer clients, handling in excess of $130 billion in 2.0 CMBS securitizations.

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Representation of Oleta Partners, LLC, a joint venture comprised of affiliates of the LeFrak Organization and Turnberry Associates, in the successful negotiation of the long-term ground lease and complicated leasehold financing for a 185-acre brownfields redevelopment site in the City of North Miami...
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Representation of Brightline, an affiliate of Florida East Coast Industries, Inc., in the procurement, land acquisition, and development of portions of the $2.4 billion high-speed passenger rail project connecting South and Central Florida. Passenger service will be created in central Florida and wi...
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