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Joint Venture and Restructuring for Build-Out of Miami Beach Condominium

Real Estate Developer

Representation of developer in the joint venture and acquisition of uniquely situated property in Miami Beach, Florida for development of a 220-unit condominium project. Structured a joint venture agreement between the client and its partner, which included economically advantageous acquisition of existing debt and satisfaction of other contractual obligations.

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Jay M. Sakalo

Jay M. Sakalo

Partner, Business Finance & Restructuring and Corporate Practice Group Leader
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Experience

Representation of debtor in possession in the chapter 11 case of Cabi Downtown LLC, the owner of an 849-unit condominium project owing over $250 million to a bank consortium, defaulting unit purchasers, trade creditors, and its general contractor. The case was the first large condominium filing i...

Experience
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...
Experience
Representation of joint venture between Starwood Hotels & Resorts and The Related Group of Florida regarding zoning and land use for the redevelopment of the six-star St. Regis Bal Harbour. The $1.5 billion project, located across from the Shops at Bal Harbour, consists of 285 condo-hotel units ...
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