Represented an Israeli pension fund manager in connection with its acquisition of a $60 million interest as co-lender in a $650 million syndicated senior construction loan for the development of a mixed use development on the Upper East Side of Manhattan.
Represented Bank Hapoalim in a mortgage loan to an affiliate of Hidrock Realty, made in connection with Hidrock’s acquisition of 32 Fifth Avenue in Brooklyn, NY.
Represented Bank Leumi in its $210 million mortgage financing to a joint venture between Israel-based IDB Holding Corp. and Midtown Holdings, for the purchase of the HSBC Tower located at 452 Fifth Avenue.
Represented Centennial Bank an upsize of an existing loan to Extell Development Company for a total aggregate loan amount of $43.6 million for certain pre-development costs incurred by Extell in developing its 2,500+ acre Deer Valley, Utah property as a hotel/condominium/ski resort.
Represented a group led by MAXX Properties in the joint venture, acquisition and construction financing of the company’s first development project, a mixed-use residential and retail property located in Mamaroneck, NY known as Grand Street Lofts.
Represented MAXX Properties in the sale of their portfolio of multifamily properties located in Omaha, Nebraska, which included a securitized loan defeasance. The transaction is the front-end of a 1031 tax-deferred exchange. MAXX Properties has retained Herrick in connection with the acquisition of the replacement property.
Represented Empire State Realty Trust in a $40 million refinancing of two commercial condominiums located at 1010 Third Avenue and 77 West 55th Street in Manhattan.
Represented Empire State Realty Trust in a $30 million refinancing of commercial property located in Norwalk, Connecticut.
Represented Garrison Special Opportunities Fund LP in the acquisition from a large investment bank of senior mezzanine and first mortgage loans encumbering a property on Manhattan's Upper West Side. Our work included negotiating financing for the loans with a European bank, and handling the restructure of a junior mezzanine loan, a senior mezzanine loan and a mortgage loan with the owner.
Represented Garrison Special Opportunities Fund LP in a loan workout of a Manhattan development site.
Represented BRT Realty Trust, a publicly traded REIT, in the financing and refinancing of a chain of residential developments in Tennessee and Florida owned and operated by Steven Green. The series of transactions is worth several hundred million dollars. Herrick has represented the Gould family and its related entities for over 50 years.
Represented Sabet Management in a $73 million mortgage refinancing of 1234 Broadway in Manhattan.
Represented Avant Capital Partners in connection with more than 15 loans made through its ongoing lending program. These loans varied in amounts between five and ten million dollars, and were secured by all types of real estate assets.
Represented Essex Capital in an $18.5 million loan made by The Union Labor Life Insurance Company. The loan is secured by a mortgage on borrower’s ground lease interest in a residential building located in Brooklyn.
Represented a real estate developer in the $80 million sale of Manhattan's historic Otis Elevator Building to a major REIT, the negotiation of a long-term ground lease for the property, and related mortgage loan amendments.
Represented a major U.S. bank as lead agent and lender in a $538 million asset-based lending facility.
Represented a major real estate investment and service company in its acquisition and financing of a five-state, 14-property portfolio of residential rental and condominium apartment complexes. The portfolio was financed through 14 first mortgage loans and 12 mezzanine loans, culminating in a four-day closing.
Represented a family office in the refinancing of a mortgage secured by property in Baton Rouge, Louisiana.
Represented a major real estate company in forming a $300 million equity fund to acquire controlling interests in real estate operating companies.
Represented a private equity fund in the acquisition of a hotel in Houston, Texas.
Represented American Heritage Communities as borrower on a term and construction loan facility in connection with the development of an assisted living facility in Reading, PA.
Represented Community Development Trust, LP in the acquisition and financing of a 400-unit affordable multifamily housing complex located in Oklahoma City, OK.
Representation of subsidiaries of a major real estate company in joint ventures formed with affiliates of an investment bank to acquire shopping malls and commercial real estate in Tennessee and Louisiana.
Represented Glacier Global Partners in a mortgage loan secured by a mall in Minneapolis, MN.
Represented the owner, an entity controlled by real estate developer David Reis, in connection with the refinancing and development of Phase II of the St. Regis Resort located in Deer Valley, Utah. The St. Regis Deer Valley is a AAA Five Diamond ski on/ski off resort that consists of condominium hotel rooms, suites and private residences.
Represented an affiliate of Traders Co. in the refinancing of a 273-room Courtyard Marriott from ING Life Insurance and Annuity Company.
Represented an affiliate of Traders Co. in the construction financing and joint venture with equity partner for a hotel located in Midtown Manhattan with Bank of Nova Scotia.
Represented Youngwoo & Associates LLC in developing a unique residential condominium building in New York's West Chelsea neighborhood, which features full-floor units with a parking facility for a car at each level. We advised on the land acquisition, construction financing and zoning issues.
Represented a distressed debt investor in foreclosing and conducting UCC secured party sale of portfolio of mezzanine loans securing repo line of credit obligations. One of the mezzanine loan borrowers sought to enjoin the sale; we defeated the TRO application and conducted the sale successfully over the borrower's objection.
