Dealmakers: Carey A. Stiss, Partner in the Real Estate Group at Bilzin Sumberg and Mary Margaret Langton, an Associate in the Real Estate Group
Transaction: Representation of the lender in a construction loan for the development and construction of two office buildings in Ft. Myers, Florida
Borrower: Forum Office Park I, LLC Lender: Merrill Lynch Capital, a division of Merrill Lynch Business Financial Services Inc.
Loan Amount: $29 million
Closing Date: September 12, 2007
Bilzin Sumberg attorneys Carey A. Stiss and Mary Margaret Langton represented Merrill Lynch Capital in the negotiation and structuring of a $29 million construction loan. The loan will fund the site development and construction of two office buildings, totaling 140,077 square feet of space, located in the Forum Office Park in Ft. Myers, Florida.
Mark Hausman, located in Merrill Lynch Capital's Atlanta office, is the loan officer who closed this transaction for Merrill Lynch Capital. Merrill Lynch Capital (a division of Merrill Lynch Business Financial Services Inc.) is a leading commercial finance business providing a broad range of structured financing solutions to middle market companies nationwide. The borrower, Forum Office Park I, LLC, is an affiliate of Atlanta-based Songy Partners, a commercial real estate firm that acquires, renovates and develops institutional quality real estate projects throughout the United States, with particular emphasis in the office and hotel sectors. The mortgage broker for this deal is Charles Foschini of CBRE/Melody, the mortgage banking arm of CB Richard Ellis.
Bilzin Sumberg's Real Estate Group routinely provides legal counsel locally and nationally across a broad range of complex commercial real estate practice areas, including development and construction, purchase and sale, financing and restructuring, condominiums and condo/hotels, leasing, and technology.
Mr. Stiss has extensive experience in all aspects of commercial real estate law, including acquisitions, sales, leasing, financing, development, title and workouts. His clients include major developers and owners of office buildings, industrial warehouses and hotels, as well as lenders (including national banks and other financial institutions).
Ms. Langton's practice spans a broad range of real estate matters, including acquisitions, sales, leasing, joint ventures and financings for all types of property. Mary is also a member of the firm's Technology & Telecommunications Group.
About Bilzin Sumberg
Bilzin Sumberg is a commercial law firm based in Florida. The Firm’s core practices include Business Finance & Restructuring, Corporate, Environmental, International, Land Development & Government Relations, Litigation, Real Estate, and Tax. For more information, please visit bilzin.com