Matters

Maxx Properties – $65 Million Financing – Henderson, Nevada

Represented MAXX Properties in the acquisition and $65 million Fannie Mae financing of a multifamily property in Henderson, NV known as Villas at Green Valley.

Sky Harbour Group – Financing & Ground Leasing for Aviation Hangers – Texas

Represented Sky Harbour Group in connection with its ground lease of development parcels at Sugar Land Regional Airport in Sugar Land, Texas, for private aviation hangars as well as the construction financing for the hangars.

Roseland Residential – $300 Million Construction Loan

Represented Roseland Residential, a subsidiary of Mack-Cali Realty Corp., in connection with a $300 million construction loan for its 750-unit, 57-story residential development project in Jersey City, New Jersey.

Roseland Residential – Construction Loan for Port Imperial Building – New Jersey

Represented Roseland Residential, a subsidiary of Mack-Cali Realty Corp., in connection with a $92 million construction loan for its Port Imperial Building 8/9, an approximately 313-unit residential development project in Weehawken, New Jersey.

DH Property Holdings – $154.7 Million Financing – Brooklyn, NY

Represented DH Property Holdings LLC in connection with a $154.7 million construction and mezzanine financing for a last-mile distribution facility in Red Hook, Brooklyn.

Rabina Properties – $231 Million Sale of 230 Park Avenue South

Represented affiliates of Rabina Properties and other tenants in common in the $231 million sale of 230 Park Avenue South, New York, NY, and the acquisition of replacement like-kind properties in a 1031 like kind exchange transaction. Also represented certain of the sellers in the original acquisition of their interests in 230 Park Avenue South, which was accomplished through a sophisticated restructure of distressed debt secured by partnership interests.

Cammeby’s International Group – Park Avenue Refinancing

Represented Cammeby’s International Group in the more than $100 million refinancing of a mixed-use multifamily building on Park Avenue in Manhattan.

FBE Limited – Brooklyn Acquisition, Including Marina

Represented FBE Limited in connection with the acquisition of waterfront property including a marina located in Brooklyn, New York for $57.5 million and with the related financing.

Risland U.S. Holdings – $502 Million Construction Loan

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.

DH Property – Brooklyn Warehouse Sale to Prologis

Represented DH Property Holdings in the acquisition, financing negotiations and ultimate $60 million sale of the purchase contract for a two-acre warehouse site at 150 East 52nd Street in Brooklyn, NY to the mammoth warehouse landlord, Prologis.

Rabina Properties – 520 Fifth Avenue Development

Represented Rabina Properties in the acquisition, financing, joint venture, restructuring and recapitalization of the vacant development parcel located at 520 Fifth Avenue in Manhattan. The development is initially projected to include an 800-foot-tall tower on the corner of East 43rd Street and Fifth Avenue. 

Rabina Properties – Acquisition of Distressed Debt

Represented a joint venture between affiliates of Rabina Properties and a real estate private equity fund in the acquisition of a distressed senior mezzanine loan and a junior mezzanine loan secured by pledges of equity interests in the owner of a commercial building in Manhattan, and the related intercreditor agreement.

RXR – Atlantic Station Financing

Represented RXR in the $103 million permanent financing of Phase I of Atlantic Station, a mixed-use project in Stamford, Connecticut with 325 residential units and 20,000 square-feet of retail space.

New York State Pension Fund – $100 Million Mortgage Loan – Bergdorf-Goodman Building

Represented a New York State pension fund in a $100 million additional mortgage loan on the Bergdorf-Goodman Building, located at 754 Fifth Avenue in Manhattan.

Rabina Properties – Amazon Fulfillment Center

Represented Rabina Properties in the financing and development of an 855,000-sq.-ft. fulfillment center for Amazon in North Haven, CT.

Centennial Bank – $120 Million Miami Construction Loan

Represented Centennial Bank in the $120 million construction loan for property located at 400 Biscayne Boulevard in Miami. The planned development includes a 49-story tower with 646 luxury rental apartments, 51,000-sq.-ft. of commercial space and a 22,000-sq.-ft. church for the First United Methodist Church of Miami.

DH Property Holdings – Financing for Brooklyn Distribution Center

Represented DH Property Holdings LLC in the construction loan and mezzanine loan financing for a distribution center in Brooklyn, New York.

Arch Real Estate Companies – Development & Financing of SoHo Property

Represented a venture that included Arch Real Estate Companies in connection with the development and financing of a planned six-story, mixed-use residential building at 11 Greene Street in Soho.

Private Lender – $20 Million Condominium Inventory Loan

Represented a private lender on a $20 million condominium inventory loan in the Tribeca neighborhood of Manhattan.

Private Lender – $20 Million Refinancing

Represented a private lender on a $20 million refinancing secured by a newly-constructed self-storage facility located in Staten Island, New York. 

New Yorker Hotel – Mortgage Loan

Represented the not-for-profit owner of the New Yorker Hotel in connection with a mortgage loan, including seeking Court and New York State Attorney General approval of same.

NYLO Boutique Hotels – Financings & Operations

Represented the owners of NYLO boutique hotels in connection with financing, operations and addition to the Tapestry Collection by Hilton.

Hyatt Place Flushing – $32 Million Mortgage Loan

Represented a major New York City developer in connection with a $32 million mortgage loan for the Hyatt Place Flushing/LaGuardia Airport hotel.

Acquisition & Financing of Multifamily Property – Gainsville, FL

Represented a developer in connection with the acquisition of multifamily property located in Gainesville, Florida and with the related financing.

F&T Land Group – Tangram Development, Flushing, Queens

Represented F&T Group in the financing, development, construction of the Tangram development, an approximately 1.2 million square foot mixed use project Flushing, Queens. Herrick assisted in the $230 million inventory loan filing as well as in the filing of a condominium offering plan for a 48-unit office building at 37-12 Prince Street and a 192-unit residential building at 133-27 39th Avenue in Flushing, Queens.

Bank Leumi – Manhattan Acquisition and Construction Loan

Represented Bank Leumi USA in connection with a $48 million acquisition loan and subsequent construction loan for a residential property at 306 East 86th Street in Manhattan.

Harel Insurance Co. – $100 Million Loan Acquisition

Represented Harel Insurance Company in the acquisition of a $100 million portion of a $200 million loan from major New York publicly-traded REIT.

Kiska Construction – Manhattan Assemblage

Represented Kiska Construction in a $42 million financing of an assemblage in Manhattan.

River Rock Associates – Mezz Construction Loan and Mortgage for Mixed Use Hotel, Restaurant, Residential – Queens, NY

Represented an affiliate of River Rock Associates LLC in connection with a mezzanine construction loan and second mortgage loan for the development of a mixed use hotel, restaurant, apartment and retail condominium located in Queens, New York.

FBE Limited and Treetop Development Affiliate – Bronx Refinancing and JV Restructuring

Herrick represented an affiliate of FBE Limited and Treetop Development in the restructuring of the ownership and refinancing of a building located at 1600 Sedgwick Avenue in the Bronx.

Migdal Insurance Company Ltd. – Philadelphia Office Building Investment

Represented affiliates of Migdal Insurance Company Ltd. in the negotiation of joint venture arrangements with affiliates of Silverstein Properties and the Arden Group in connection with a REIT investment resulting in the purchase of a 49% indirect ownership interest in a 1.3 million square foot office building in Philadelphia, Pennsylvania.

R Squared – Refinancing of Two Industrial Portfolios on Long Island

Represented R Squared in connection with refinancing of two industrial property portfolios consisting of 13 warehouse and industrial buildings in Suffolk County, New York.

R Squared – Refinancing on Industrial Properties, Long Island, NY

Represented R Squared LLC in a mortgage loan from Dime Community Bank. The proceeds of the loan were used to refinance leasehold mortgage loans on two industrial properties located at 200 and 220 Roger’s Way in Westhampton Beach, NY. 

R Squared – Construction Loan for Historic Canoe Place Inn – Westhampton, NY

Represented an affiliate of R Squared LLC in a construction loan for the renovation of the historic Canoe Place Inn on the Shinnecock Canal in Westhampton, NY.  The Inn, originally built in the early 1700s, was used as a stagecoach inn and also served as headquarters for British soldiers during the Revolutionary War. The renovated structure will include a new 25-room inn, a 1,900-square-foot clubhouse and a 300-seat catering hall.

L+M Development Partners – 25 Park Row Construction Financing

Represented L+M Development Partners in a $350+ million financing transaction for the construction and development of a 45-story mixed-use condominium building at 25 Park Row in lower Manhattan. The site is the former headquarters of J&R Music World.

Community Preservation Corporation – $500+ million renovation of 16 Manhattan NYCHA Buildings

Represented the Community Preservation Corporation as the equity provider in the $500+ million renovation of 16 New York City Housing Authority buildings in Manhattan. NYCHA is partnering with the Community Preservation Corporation, Community Development Trust, Monadnock Development LLC, Lemor Development Group, Kalel Holdings LLC and the Community League of the Heights on the acquisition of a ground lease and massive renovation of 1,700 apartments. The upgrades come as part of the “NYCHA 2.0” initiative. This investment is in keeping with the Community Preservation Corporation’s mission of maintaining and providing affordable housing.

Woolworth Building Owners – Loan Modification & Extension

Represented the owners of the Woolworth Building, the Schron family and The Witkoff Group, in the modification and extension of a mortgage loan and a mezzanine loan for the property. 

Mizuho Corporate Bank – $1 Billion Mortgage Refinance

Represented Mizuho Corporate Bank in a complex refinancing of approximately $1 billion in mortgage debt encumbering 650 Madison Avenue and 150 East 42nd Street in New York, and 20 North Clark Street in Chicago.

Real Estate Companies – $380 Million National Apartment Complex Acquisition

Represented a joint venture between two major real estate companies in its $380 million acquisition and financing of 52 apartment complexes in 14 states.

U-Haul International – Real Estate Financings

Representing U-Haul International in a wide range of real estate financings, secured by properties in New York and New Jersey.

American Heritage Communities – Financing for Senior Housing in PA and NJ

Represented American Heritage Communities in the $78 million construction loan and mezzanine loan for the development of a continuing care retirement community (CCRC) in Reading, PA ad the $49 million acquisition and financing of a senior housing age-restricted community in Teaneck, NJ.

NJ Real Estate Developer – Deed-in-Lieu Transaction

Represented the developer in a deed-in-lieu relating to a failed high rise condominium construction project in Northern, NJ.

Maxx Properties – Acquisition & Financing – Las Vegas, Nevada

Represented Maxx Properties in their acquisition, financing and 1031 exchange for Madison at Spring Valley, a 168-unit multifamily community in Las Vegas.

Maxx Properties – $150 Million Credit Facility

Represented Maxx Properties in a $150 million corporate level credit facility.

Centennial Bank – Construction Loan – Denver, Colorado

Represented Centennial Bank in a $62 million construction loan to be used for the development of approximately 141,500 square feet in retail space, 59,700 square feet in commercial space and a 716-space above-ground parking structure located in Denver, Colorado.

National Bank – $335.7 Million Mortgage Loan to Connecticut Real Estate Firm

Represented a major national bank in a $335.7 million mortgage loan to a Connecticut based commercial real estate company.

Real Estate Owner/Investor – $320 Million Woolworth Building Refinancing

Represented the owner of the office condominium portion of the Woolworth Building, a joint venture between the Schron family and Steve Witkoff, in a $320 million refinancing from Blackstone.

Real Estate Companies – $315 Million Office Portfolio Acquisition

Represented a joint venture between two major real estate companies in its $315 million acquisition and financing of a 43-property portfolio of office and commercial buildings in Long Island, New York.

Houlihan-Parnes & CLK Management – Long Island Office Building

Represented affiliates of Houlihan-Parnes and CLK Management in the $65 million acquisition and financing of a suburban office building located at One Old Country Road, Carle Place, NY, together with the assumption of the existing mortgage loan, in a 1031 like kind exchange transaction.                

FL Condominium Developer – $300 Million Construction Loan Facility

Represented one of Florida’s largest condominium developers in a $300 million construction loan facility for eight condominium projects together with a corporate restructuring and a simultaneous $90 million buyout of a major joint venture partner.