Rechler Equity – $33.5 Million Refinancing
Represented Rechler Equity in a $33.5 million refinance of construction loan secured by a hotel in Hampton Bays.
Matters
Bank Hapoalim – $165 Million Manhattan Acquisition & Construction loan
Represented Bank Hapoalim as senior co-lender in a $165 million acquisition and construction loan to Moinian Group for the construction of mixed-use residential and hotel property at 7 Platt Street in Manhattan.
ACRES Capital – Loan for Self-Storage Facility – Marietta, GA
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.
Private Lender – $60.5 MIllion Condominium Inventory Loan – Queens, NY
Represented a private lender in a $60.5 million condominium inventory loan in Long Island City, Queens.
University Acquisition of $100 Million Manhattan Commercial Building
Represented a university in connection with a nearly $100 million acquisition of a commercial building in Manhattan.
BHI Sale of $80 Million Loan Secured by NYC Hotel
Represented BHI in the sale of its $80 million loan secured by a New York City hotel to an investor group headed by an Israel-based private equity firm. In connection with the sale, BHI provided the firm with $57 million in note on note financing.
$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.