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.
Represented Rechler Equity in a $33.5 million refinance of construction loan secured by a hotel in Hampton Bays.
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.
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.
Represented a private lender in a $60.5 million condominium inventory loan in Long Island City, Queens.
Represented a university in connection with a nearly $100 million acquisition of a commercial building in Manhattan.
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.
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.
Represented a real estate joint venture in the acquisition and financing of medical office properties throughout the United States.
Represented Phoenix Insurance Company in acquiring a $55.5 million senior participation interest in a $78 million construction loan to finance the development of a Class A, 27-story multifamily rental building in Brooklyn, New York.
Represented a developer, owner and operator of residential and commercial real estate in New York and Texas, in connection with the $21 million sale of a development site in the Astoria, Queens.
Represented First-Citizens Bank & Trust Company in connection with a $57 million construction loan for a to-be constructed 237,880 sq. ft. industrial warehouse and distribution facility located at 800 Salem Street, Wilmington, Massachusetts.
Represented a major New York bank as lender on a $47.6 million loan to a New York based real estate investment firm, collateralized by underlying mortgage and mezzanine loans in the aggregate amount of $68.6 million secured by residential condominium units located in New York, NY.
Represented KPR Centers in connection with acquiring a $180 million multi-state portfolio of eight shopping centers through a joint venture structure. The portfolio includes retail centers in Florida, Wisconsin and Missouri, comprising more than 1.5 million square feet of space. Cumulatively 96 percent leased at the time of the acquisition, the portfolio is a combination of grocery-anchored and power centers.