Loan Secured on Eight-Property Retail Portfolio in Sunset Harbour, Miami Beach
Real Estate Developer
Representation of borrowers securing a loan on an eight-property portfolio in Sunset Harbour in Miami Beach, Florida, including the Sunset Harbour Shops. The properties contain 60,000 square feet of net rentable space and are owned by Scott Robins and Philip Levine, developers known for transforming once blighted areas into flourishing neighborhoods. This transaction will transform Sunset Harbour into a more upscale, pedestrian-friendly shopping and dining destination. The 10-year, fixed rate loan contains competitive terms difficult to obtain in the current financing market and the proceeds will help finance tenant improvements and additional development in the Sunset Harbour area.
Representation of B piece and special servicer clients, handling in excess of $130billion in 2.0 CMBSsecuritizations.
Handled billions of dollars in distressed debt related to modifications, extensions, forbearances, discounted payoffs, and deeds in lieu of foreclosure.
Debtors' counsel to Fontainebleau Las Vegas Holdings, LLC, and two of its affiliates in their chapter 11 cases in the Southern District of Florida. The debtors had over $2 billion of funded debt, had used $500 million of equity, and were prosecuting claims for $800 million in unpaid additional finan...