Represented Leumi Partners Ltd., as mezzanine lender, in an aggregate construction financing facility of $123 million for a mixed-use development construction project in Brooklyn, New York.
Represented a Tel Aviv debt fund in connection with a $180 million construction loan to for the acquisition and redevelopment of a luxury condominium in midtown Manhattan.
Achieved a complete victory on behalf of its clients Inokim, an Israeli company that manufactures electric scooters, and Best Buy against certain Inokim shareholders who sued both companies for breaches of a licensing agreement and tortious interference arising from the distribution of Inokim electric scooters. The New York Supreme Court granted motions to dismiss all of the plaintiffs' claims on each of the alternative grounds offered—including improper service, lack of personal jurisdiction over our Israeli clients and lack of standing.
Represented a debt fund in connection with a $185 million construction and condo inventory loan for the completion of construction of a luxury residential condominium building in midtown Manhattan.
Represented a BVI corporation listed on Tel Aviv Stock Exchange, in the repayment of Series C debentures.
Represented a BVI corporation listed on Tel Aviv Stock Exchange, in the $27.5 million refinancing of multifamily project in Long Island, NY.
Represented Greystone Senior Debt BI, LTD, a subsidiary of Greystone, in their Series A bond offering of approximately $160 million on Tel Aviv Stock Exchange. The offering was the highest rated offering historically for this product and 3x oversubscribed. The Herrick team partnered with Goldfarb Gross Seligman in Israel.
Represented Phoenix Insurance Company in acquiring a $55.5 million senior participation interest in a $78 million construction loan to finance the development of a Class A, 27-story multifamily rental building in Brooklyn, New York.
Represented a BVI corporation listed on Tel Aviv Stock Exchange in the repayment of Series C debentures.
Represented a BVI corporation listed on Tel Aviv Stock Exchange in the $27.5 million refinancing of multifamily project in Long Island, NY.
Represented Michman Basad, an Israel-based financial services company, in a proposed loan to an international hospitality company and hotel developer.
Advised Datto Holding Corp. (NYSE:MSP), the leading global provider of cloud-based software and technology solutions purpose-built for managed service providers (MSPs), as lead counsel in connection with its acquisition of BitDam Ltd. (“BitDam”), an Israel-based cyber threat detection company. BitDam’s cyber-defense platform secures collaboration tools, such as M365 and Google Workspace, from ransomware, malware, and phishing.
Represented CultureWorks, Inc., and international prop tech company, in Series B and C financing rounds and commercial debt financing.
Represented Isik Plastik, a Turkish publicly traded company and a leading manufacturer of thermoformed food packaging and industrial plastic sheet products, in its acquisition of a US-based manufacturer of polycarbonate and other plastics products.
Represented Yellowstone Real Estate Investments in issuing unsecured bonds on the Tel Aviv Stock Exchange, raising approximately $200 million.
Represented a domestic client in the conversion of membership interests in real estate projects to an $18 million loan to AYA New York Ltd., a British Virgin Islands company limited by shares, subject to a bond offering by the borrower on the Tel Aviv Stock Exchange.
Represented an Israeli debt fund in a multi-jurisdictional loan restructuring a collateralization in the United States.
Represented a trust formed under the laws of the Republic of Korea as lender in connection with a $75 million refinancing of a Manhattan office building with approximately 179,000 square feet of net rentable space.
Represented a joint venture with partners based in Israel and India in connection with $450 million offering plan on "Billionaires' Row" in Manhattan.
Represented Go Properties in a potential $150 million bond offering on the Tel Aviv Stock Exchange.
Represent an Israeli investment company as lender in connection with reviewing a $30 million term loan facility.
Represented Canada Global in connection with a joint venture with Flow Property Investors and Yellowstone Trust to invest in a Miami, Florida multi-family project developed by the Chetrit Group.
Represented Bank Hapoalim as senior co-lender in a $165 million acquisition and construction loan to Moinian Group for the construction of mixed-use residential and hotel property at 7 Platt Street in Manhattan.
Represented the Turkish Consulate General in New York in a lease of the entire 30th floor at 605 Third Avenue in Manhattan.
Represented the government of an Asian nation in the acquisition of its main headquarters in Manhattan, including a cultural center.
Represented Canada Global (T.R.) Ltd., a publicly traded company in Israel, to acquire 8500 Biscayne Boulevard, a 15.9-acre parcel of land in Miami, Florida, as part of a joint venture with Flow Global Holdings LLC.
Represented an Israeli debt fund in the $29 million purchase of a portfolio of performing construction loans located in New York City.
Representing a global shipping company in a AAA arbitration in which client was awarded dismissal of a multi-million deferred compensation claim by a former executive.
Represented Bank Hapoalim B.M. in connection with the negotiations of an intercreditor agreement among the senior lenders of a senior loan in the amount of $165 million and a new incoming mezzanine lender for the mezzanine loan in the amount of $39.77 million for the construction of an approx. 257,000 gross square foot mixed-use multifamily, hospitality and retail property located in downtown Manhattan.
Represented Bank Hapoalim B.M. in connection with the modification of a note-on-note financing in the amount of $57 million made by BHI to an affiliate of the Northwind Group, and the Chapter 11 plan of reorganization and modification of the underlying mortgage loan in the amount of $85.3 million secured by the hotel located at 225 Bowery, New York, New York. The modification of the note-on-note financing was a result of the Bankruptcy court’s approval of the Chapter 11 plan of reorganization of the underlying mortgage loan.
Represented affiliates of Migdal Insurance Company Ltd. in the negotiation of two joint ventures with White Oak Partners to establish funds to purchase multifamily properties in the United States.
Herrick represented Leumi Partners in connection with a $20 million mezzanine loan for the development and construction of a property located in the Broadway Triangle of Williamsburg, Brooklyn. The development will consist of five buildings containing approximately 382 residential apartments of which approximately 120 will be affordable residential apartments, ground flood commercial/retail space of approximately 73,000 square feet, second floor community facility space and a 340-space parking garage.
Represented international concession service provider in its acquisition of UK hospitality provider specializing in providing premium customer event experiences.
Represented both Migdal Insurance Company Ltd. and Menora Mivtachim Insurance Ltd., two of the largest Israeli insurance companies, in the negotiation of a joint venture with Silverstein Properties to acquire the U.S. Bank Tower in downtown Los Angeles, California for a purchase price of $430 million. The deal involved tax structuring, negotiation of partnership agreements, as well as oversight of the acquisition and loan documents.
Represented a client in forming a U.S. nonprofit to promote and support Turkish and other forms of dance and artistic endeavors.
Representing the Republic of Türkiye in the development and construction of a new and expanded consulate at 46th Street and 1st Avenue across from the UN's General Assembly. Our work includes advice on government relations, real estate development and construction, leasing, land use and zoning.
Represented a joint venture consisting of Risland U.S. Holdings, LLC (a U.S. subsidiary of a multi-billion dollar publicly traded international developer) and a group of local developers in a $502 million loan for the construction of a new 67-story condominium building in Long Island City. This transaction stands as the largest condo construction loan in Queens and the building, rising to 984 feet with 802 units, will be the tallest building in the borough.
Represented Gulaylar Group, in connection with its purchase of a jewelry exchange in the heart of New York City's Diamond District. Istanbul-based Gulaylar Group, is one of Türkiye's leading jewelry companies with headquarters located in Türkiye's commercial gold center. The Gulaylar Group plans to leverage its retail development expertise to create a world-class jewelry exchange in New York City.
Obtained favorable jury verdict and judgment on behalf of a Turkish furniture exporter asserting breach of contract claims in New Jersey federal court against a former business partner and the former head of the client’s U.S. affiliate.
Defended successful Turkish-American apparel company against federal court claims of trademark infringement and counterfeiting brought by a US hanger company involving garment hangers that the client’s factory had switched and imprinted with the plaintiff’s trademarks without the client’s knowledge. We were able to settle the claims confidentially at the pleading stage of the case, with a significant and creative part of the settlement tied to creating new business between our client and the plaintiff.
Represented a clothing manufacturing company headquartered in Istanbul, Türkiye with significant business operations in the U.S., regarding general corporate issues and real estate matters in the U.S.
Represent a leading U.S. company in relation to a commercial dispute between members of a global clothing wholesaler involving cross-border allegations of breach of contract, fraud, breach of fiduciary duty and trademark infringement.
Represent a financial services company establishing operations in Istanbul, Türkiye.
Represented affiliates of Migdal Insurance Company Ltd. in the negotiation of a joint venture arrangement with a domestically controlled REIT that is an affiliate of KBS Realty Advisors and the associated purchase of a 45% indirect ownership interest in an office building located at 353 Sacramento Street, San Francisco, California.
Representation of Israel Discount Bank as administrative agent and as a lender in amending an existing secured revolving credit facility to New York Football Giants, Inc. to increase the facility's size to $45 million. The loan's proceeds will be used for working capital purposes.
Represented Bank Leumi in its $210 million mortgage financing to a joint venture between Israel-based IDB Holding Corp. and Midtown Holdings, for the purchase of the HSBC Tower located at 452 Fifth Avenue.
Representation of Israel Discount Bank of New York as administrative agent and lender, in connection with a senior secured syndicated credit facility to a triple A minor league baseball team.
Represented Bank Hapoalim in a mortgage loan to an affiliate of Hidrock Realty, made in connection with Hidrock’s acquisition of 32 Fifth Avenue in Brooklyn, NY.
Represented Bank Leumi USA in a $90M construction loan to a subsidiary of ASRR Capital Ltd., a publicly-traded Israeli company, for the development of a 12-story luxury condominium tower in Surfside, Florida.
Represented an asset management company in the proposed acquisition of an interest in a premier professional basketball team located in Jerusalem. The team has won several titles recently, including the EuroCup and the Israeli League championship.
