Matters

Global Provider of Cloud Based Software – Acquisition of Cyber Threat Detection Company

Advised Datto Holding Corp. (NYSE:MSP), the leading global provider of cloud-based software and technology solutions purpose-built for managed service providers (MSPs), as lead counsel in connection with its acquisition of BitDam Ltd. (“BitDam”), an Israel-based cyber threat detection company. BitDam’s cyber-defense platform secures collaboration tools, such as M365 and Google Workspace, from ransomware, malware, and phishing.

Phoenix Insurance Company – Sr. Participaton Interest in Construction loan

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.

BVI Corporation – Repayment of Series C Debentures

Represented a BVI corporation listed on Tel Aviv Stock Exchange, in the repayment of Series C debentures.

$27.5 Million Refinancing of Multifamily – Long Island, NY

Represented a BVI corporation listed on Tel Aviv Stock Exchange, in the $27.5 million refinancing of multifamily project in Long Island, NY.

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. 

Repayment of Series C Debentures

Represented a BVI corporation listed on Tel Aviv Stock Exchange in the repayment of Series C debentures.

$27.5 Million Refinancing of Multifamily – Long Island

Represented a BVI corporation listed on Tel Aviv Stock Exchange in the $27.5 million refinancing of multifamily project in Long Island, NY.

Michman Basad – Hotel Financing

Represented Michman Basad, an Israel-based financial services company, in a proposed loan to an international hospitality company and hotel developer.

Phoenix Insurance – $78 Million Construction Loan – Brooklyn, NY

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.

Lender – Luxury Hotel in New York City

Representing mezzanine lender in connection with defaults under the mezzanine financing for a luxury hotel in New York City, including advising the lender on a potential UCC foreclosure of the hotel or a potential sale of the lender’s mezzanine loan to a third party.

Brasseria Family Hospitality – Large Manhattan Restaurant Lease

Represented Brasseria Family Hospitality in the lease for more than 8,000 square feet at 85 10th Avenue in Manhattan for their first restaurant in the United States.

Preferred Bank – $15 Million Refinance – Bronx, NY

Represented Preferred Bank in a $15 million refinance of a loan to an entity controlled by Namdar Realty Group, H Holding Group and Klosed Properties in the Mott Haven area of the Bronx, NY.

Northwind Group – $56 Million Manhattan Mortgage Loan

Represented affiliates of Northwind Group in connection with a $56 million mortgage loan secured by a newly-constructed, thirteen-story, 86,000+ square-foot residential apartment building located on Central Park North.

NYLO Boutique Hotels – Financings & Operations

Represented the owners of NYLO boutique hotels in connection with financing, operations and addition to the Tapestry Collection by Hilton.

KABR Group – Canopy by Hilton Jersey City

Represented the KABR Group in connection with its participation in the development of the Canopy by Hilton Jersey City in downtown Jersey City, New Jersey.

Hyatt Place Flushing – $32 Million Mortgage Loan

Represented a major New York City developer in connection with a $32 million mortgage loan for the Hyatt Place Flushing/LaGuardia Airport hotel.

Arch Real Estate Companies – Development & Financing of SoHo Property

Represented a venture that included Arch Real Estate Companies in connection with the development and financing of a planned six-story, mixed-use residential building at 11 Greene Street in Soho.

Arch Real Estate Companies – North Carolina Acquisition

Represented Arch Real Estate Companies in connection with the $63 million acquisition and financing of the Cambridge Corporate Center in Charlotte, North Carolina.

Israeli Pension Fund Manager – Syndicated Loan

Represented an Israeli pension fund manager in connection with its acquisition of a 50% interest as co-lender with a major international bank in a $81.9 million syndicated loan secured by a hotel located in downtown Washington DC.

Israeli Pension Fund Manager – Syndicated Construction Loan

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. 

Israeli Pension Fund Manager – Acquisition Administration of $58.6 Million Inventory Loan

Represented an Israeli pension fund manager in the acquisition and administration of $58.6 million inventory loan for a mixed used condominium in Harlem, New York. In addition to the administration of the loan, Herrick facilitated the closings for each of the condominium units.

F&T Land Group – Tangram Development, Flushing, Queens

Represented F&T Group in the financing, development and construction of the Tangram development, an approximately 1.2-million-sq.-ft. mixed use project located in Flushing, Queens. Herrick assisted in the $230 million construction loan as well as in the filing of a condominium offering plan for a 48-unit office building and two residential buildings totaling 324 units.

CoreNet Global – ProBono Outside Counsel

Herrick acts as pro bono outside corporate counsel to the New York City Chapter of CoreNet Global, a non-profit association, headquartered in Atlanta, Georgia (U.S.), representing more than 10,000 executives in 50 countries with strategic responsibility for the real estate assets of large corporations.