ProSURF – Formation of Investment Fund – Debt and Equity Investments
Represented ProSURF New Urban Partners, L.P. in connection with the formation of its investment fund and its note purchase agreement with Renaissance Downtowns Urban Holdings, which was secured by various subsidiary equity interests and development contract rights for entire communities, including the Village of Hempstead, NY and New Rochelle, NY. Herrick continued to represent ProSURF in connection with its debt-to-equity conversion in Renaissance Downtowns, as well as additional equity investments.