Matters

$430 Million Joint Venture Acquisition – U.S. Bank Tower – Los Angeles, CA

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.

Creation of Fund to Invest in Mixed-Use Developments

Representing a family-run group of companies that is bringing together family offices to establish a fund to purchase interests in mixed use development projects in and around stadium projects throughout the United States.

Community Preservation Corporation – YWCA Supportive Housing – Schenectady, NY

Represented Community Preservation Corporation in connection with a joint venture with Xenolith Partners LLC, a certified minority and women-owned business enterprise (MWBE) company, to develop the first phase of a supportive housing and social services community center with the YWCA located in Schenectady, New York.

Extell Development – Joint Venture – Yonkers, NY

Represented Extell Development Company in a joint venture agreement for the ownership and development of property in Yonkers, New York.

SR Real Estate Partners – Construction Loan for Student Housing – North Carolina

Represented SR Real Estate Partners in connection with a $75 million construction loan where the proceeds of the loan will be used to construct a 229-unit, 754 bed student housing project at UNC Charlotte in North Carolina.

NY-based Nursing Home Owner – Brooklyn Acquisition

Represented a large NY-based nursing home owner in the acquisition of 699 92nd Street in Brooklyn, NY, from a purchaser under contract who had filed for bankruptcy. The site is triple net leased to a non-profit integrated healthcare network that is New York State's largest healthcare provider and private employer.

Kriss Capital – $37 Million Construction Loan

Represented Kriss Capital LLC on a $37 million construction loan secured by property located at 4560 Broadway. The Herrick team also represented Kriss Capital in connection with the syndication of the loan with Valley National Bank and LibreMax.

Community Preservation Corporation – $29 Million Morris Heights Mews Affordable Housing Joint Venture in The Bronx

Represented The Community Preservation Corporation in a joint venture with Camber Property Group to acquire Morris Heights Mews, a 100 percent affordable property in The Bronx, for $29 million, which will preserve and extend affordability for 111 units. A new 20-year Section 8 contract was executed, and the joint venture will undertake approximately $3 million in improvements to the complex.

Dov Weinstock, Counsel

Matters

$430 Million Joint Venture Acquisition – U.S. Bank Tower – Los Angeles, CA

Creation of Fund to Invest in Mixed-Use Developments

Community Preservation Corporation – YWCA Supportive Housing – Schenectady, NY

Extell Development – Joint Venture – Yonkers, NY

SR Real Estate Partners – Construction Loan for Student Housing – North Carolina

NY-based Nursing Home Owner – Brooklyn Acquisition

Kriss Capital – $37 Million Construction Loan

Community Preservation Corporation – $29 Million Morris Heights Mews Affordable Housing Joint Venture in The Bronx

Herrick Names Belinda G. Schwartz as Executive Chair of the Firm

Herrick welcomes Megan Thompson

BTI Litigation Outlook Recognizes Herrick as Litigation Standout

Belinda G. Schwartz Elected as ACREL Fellow