Represented G4 in connection with a $95 million construction and mezzanine loan for the development of a luxury condominium building on Madison Avenue in Manhattan for both residential and commercial use.
Represented ACRES Capital, LLC in connection with a $16 million first mortgage loan to refinance debt on a newly constructed 77,060 square foot, 806-unit self-storage facility in Marietta, GA.
Represented a joint venture comprised of a prominent real estate development company and a global holding company in connection with the development of a 23-story mixed-use building in the Midtown East neighborhood of Manhattan. This representation has included, among other aspects, representing the joint venture as borrower in connection with a $95 million construction loan, as well as representing the joint venture in connection with the initial acquisition and financing of the development site and related unused development rights from a neighboring property through zoning lot merger.
Represented a major New York bank as lender on a $47.6 million loan to a New York based real estate investment firm, collateralized by underlying mortgage and mezzanine loans in the aggregate amount of $68.6 million secured by residential condominium units located in New York, NY.
Represented a joint venture comprised of a prominent real estate development company and a global holding company, as borrower, in connection with a construction loan to facilitate the development of a 7-story mixed-use building in the Chelsea neighborhood of Manhattan.
Represented Preferred Bank in a $22 million mortgage loan for a commercial condo retail unit in an affordable housing complex with a community center and parking facility in Jamaica, Queens.
Represented ACRES Capital in connection with the assignment and assumption from an existing borrower/seller to a new borrower/purchaser and conversion of a construction loan into a mortgage loan in the amount of $57.7 million as a result of the sale of The Ray Hotel Delray Beach, Curio Collection by Hilton, a 141-room hotel, located in Delray Beach, FL.
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.
Represented ACRES Capital in connection with the $72.5 million refinance of an existing construction loan for a mixed-used project with a 311-unit multifamily component and two retail suites located in Columbus, Ohio.
Herrick represented ACRES Capital in connection with the refinance of existing construction loans for a mixed-used project including three multifamily residential apartment complexes comprised of 347 units and 51,138 square feet of commercial retail space located in Columbus, Ohio, in the amount of $72 million.
Represented ACRES Capital in connection with the refinance of a $56 million mortgage loan on a mixed-used project including a multifamily residential apartment complex comprised of 230 units and 20,306 square feet of occupied commercial retail space located in Columbus, Ohio. Additionally, we represented ACRES in connection with the subsequent participation of the loan and assignment of the loan into a securitization.
Represented ACRES Capital in connection with the refinance of a $55 million mortgage loan on a mixed-used project including a multifamily residential apartment complex comprised of 164 units and 2,606 square feet of unoccupied commercial retail space located in Columbus, Ohio. Additionally, we represented ACRES in connection with the subsequent participation of the loan and assignment of the loan into a securitization.
