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.

$130 Million Refinance – NYC Owner/Operator & JV with Investment Fund

Represented a New York City owner/operator as part of a joint venture with an investment fund entity in a $130 million refinance of a loan secured by a multi-state portfolio of over 20 commercial-use properties. Herrick advised our client in its negotiation and execution of the loan transaction and a preferred equity arrangement. Herrick also represented our client in the concurrent reorganization at closing of the existing property-owning entities into Delaware-domiciled entities by merger or conversion with simultaneous qualification to transact business in their states of original formation.

KABR Group – $120 Joint Venture for 600 Columbus Avenue

Represented KABR Group in the $120 million joint venture to acquire 600 Columbus Avenue, a 14-story multifamily building plus additional air rights on Manhattan’s Upper West Side. The property, spanning the block between 89th and 90th Streets, features 166 apartments, 27,500 square feet of retail space, and 100 parking spots. The acquisition is the largest single multifamily purchase in New York City in 2023.

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

$130 Million Refinance – NYC Owner/Operator & JV with Investment Fund

KABR Group – $120 Joint Venture for 600 Columbus Avenue

BTI Litigation Outlook Recognizes Herrick as Litigation Standout

Herrick Congratulates Milwaukee Bucks Co-owner, Marc Lasry, on the Recent Sale of Stake in the Team

Herrick Nabs Restructuring Veteran Robert D. Gordon

2023 Chambers USA Recognizes Herrick’s Real Estate, Litigation, Restructuring and Sports Practices and Lawyers for Excellence

Legally Israel 100 – IsraelDesks League Tables 2024

Belinda Schwartz on Why Lawyers May Prefer a Midsize Firm

NYC’s New Housing Production Tax & Zoning Incentives

Herrick’s Long and Proud Tradition of Pro Bono Work