$395 Million Loan Acquisitions for Sunny Isles, Florida Development

Condominium Developer

Assisted condominium developer in mortgage capitalization of Turnberry Ocean Club, a 54 story, 154 unit ultra-luxury condominium project in Sunny Isles Beach, Florida. Capitalization comprised of a $265 million construction mortgage loan from Bank of the Ozarks and a $130 million mezzanine loan preferred equity transaction from a national real estate firm acting as a lender to other developers.

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...
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...
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...