Represented the Official Committee of Unsecured Creditors in the 1031 Tax Group cases that were commenced in the Southern District of New York, which involved widespread fraud perpetrated by the Debtors’ principals. The Committee worked with the Chapter 11 Trustee to confirm a consensual plan of reorganization that in the end will result in a recovery to unsecured creditors in excess of 70 cents on the dollar.
Represented a large commercial landlord in large bankruptcy cases including Borders, Claim Jumper Restaurants, Real Mex Restaurants, and Gottschalks. Litigated and resolved issues concerning administrative claims, rejection damages, and general unsecured claims. Providing counseling regarding commercial landlord’s rights in tenants’ bankruptcy cases.
Represented a borrower in a $230MM commercial mortgage-backed securities loan secured by a regional shopping mall.
Represented a major international bank, as agent for a syndicate of lenders, in connection with the conversion of a construction loan in the approximate principal amount of $150MM into a loan secured by the unsold shares in a newly-constructed leasehold cooperative apartment building in New York City.
Represented the developer of the Wachovia Center in Philadelphia, home arena of the Sixers and the Flyers, in a multi-hundred-million project finance of the development of the facility.
Represented Liberty Property Trust in the development, leasing and debt/equity financing of the $500,000,000 Comcast Center office tower in Philadelphia.
Represented a major international bank in connection with the increase and modification of a construction loan. The aggregate loan proceeds, in excess of $80MM, were funded for the renovation of an existing midtown (New York City) south residential building and its conversion to operation as a hotel.
Represented a major international bank and a German bank, as lead lenders in connection with a syndicated acquisition and development loan in excess of $400MM.
Represented a major international bank as a lead lender for a syndicate of lenders in connection with a construction loan of approximately $168MM to be advanced for the renovation, repositioning and reconstruction of an existing retail center located in Hampton, Virginia.
Represented a major international bank and a syndicate of lenders in a loan of approximately $318MM for the construction of a resort hotel and spa outside San Antonio, Texas.
Represented a major international bank as a lead lender for a syndicate of lenders in connection with a $103MM construction loan to be advanced in connection with the construction of an eleven-story office building of approximately 321,000 square feet located in Washington, D.C.
Represented the Liquidating Trustee of Limited Partnership of failed Philadelphia commercial real estate development slated to be Waldorf Astoria hotel and condominium complex. Appointment was by Philadelphia Court of common Pleas.
Represented the Debtor, the owner and operator of an exclusive private country club, in a Chapter 11 proceeding in the United States Bankruptcy Court for the District of New Jersey resulting in a sale of substantially all of the Debtor’s assets to a buyer that preserved the club’s operations.
Represented the Debtor, a real estate investment and construction company, in its Chapter 11 case in the United States Bankruptcy Court for the District of New Jersey, confirming a Chapter 11 liquidating plan providing for the completion of pending jobs and orderly liquidation of the remainder of the Debtor’s assets which substantially increased the value of the Debtor’s estate for creditors.
Represented landlord in lease of shopping center development parcel to Wawa Inc.
Served as the lead counsel for developer of the 300 room Lancaster Marriott Convention Center Hotel and 90,000 SF Lancaster County Convention Center. Principal responsibilities included negotiation of joint development and operating documents with the Lancaster County Convention Center Authority and advising on multiple equity and debt financing arrangements, including historic tax credit and public financing segments.
Served as lead counsel for redevelopment of Center City office building and bank facility into the $100,000,000, 330 room Philadelphia Ritz-Carlton Hotel. Principal responsibilities included structuring, negotiating and documenting equity participation, hotel management and project construction and permanent debt financing.
Served as lead counsel for redevelopment of the Reading Terminal HeadHouse, Philadelphia, Pennsylvania, an $80,000,000, tax credit assisted urban redevelopment project for The Redevelopment Authority of the City of Philadelphia. Principal responsibilities included structuring and negotiating the redevelopment and equity and debt financing program for the project including public area, retail and hotel components, condominium structure, construction and permanent financings and historic tax credit investment.
Served as lead counsel for development of the $75,000,000, 500 room Sheraton Atlantic City Convention Center Hotel. Principal responsibilities included the structuring, negotiation and completion of the joint venture equity and debt financing among the project participants including a private investor, Caesars Atlantic City, Fleet Bank, New Jersey Casino Reinvestment Development Authority, Doubletree Hotels Corporation and Sheraton Hotels Corporation.
Served as lead counsel for acquisition of portfolios of multifamily residential apartments in the Mid-Atlantic and Southeastern United States, aggregating $500,000,000. Principal responsibilities included structuring, negotiation, documentation and closing of the acquisition, joint venture equity, bridge loan and permanent financing transactions.
Served as counsel to investors in urban and suburban office properties valued at over $400,000,000. Principal responsibilities included structuring, negotiation, documentation and closing of property acquisitions and equity, interim and permanent debt financing and negotiation of major leases.
Represented developer/landlord in the development and leasing of new regional headquarters for Glaxo SmithKline in the Philadelphia Navy Yard Corporate Center.
Represented a financial institution/investor in the restructuring of many real estate joint ventures involving dozens of properties nationally and approximately $500M of assets.
Led a team of Real Estate lawyers who represented the Commonwealth of Pennsylvania in closing the transactions for the development of a new $140 million Family Court Building at 15th & Arch in Philadelphia. This was a multi-faceted transaction involving many state and local government agencies.
Led the effort to overcome title issues through grants from the New York State Office of Governmental Services and Westchester County and to negotiate and close pre-development financing and mezzanine debt with a Japanese financial partner for the Davids Island Project (the multifaceted development of an island in the Long Island Sound off the coast of New Rochelle), which is owned by the City of New Rochelle. Participated, through and with the developer’s local representative, in seeking a bridge permit from the Coast Guard, seeking to acquire Con Edison’s fee title in exchange for an easement (or to take the fee title through eminent domain, in consultation with special condemnation counsel to the project.
Handled the Queens West Waterfront Development Project, a joint project of the state, city and the port authority of New York and New Jersey, which is being developed on a 74-acre waterfront site directly across the East River from the United Nations, at Hunters Point, Queens. It is a mixed-use project to include residential and commercial uses, and comprises 14 development parcels to be leased to private developers, totaling 9.3 million square feet, and 19+ acres of parkland.
Represented Oliver Tyrone Pulver Corp. in Conshohocken, PA and West Conshohocken, PA, in riverfront development since 1987. The project included PA redevelopment and condemnations, about 1.5 million square feet of office space, and two Marriott Hotels
Handled the redevelopment of the former 500,00 square foot Radio Corporation of America "Nipper Building" in Camden, NJ into 300-unit luxury apartment complex.
Handled the redevelopment of the former 67-acre Stop & Shop North Haven, CT facility.
Represented a client in connection with the acquisition of six multifamily apartment complexes in the Southeast and the structuring of a joint venture arrangement between the firm’s client and the seller of the properties.
Represented the developer of a 500,000 square foot office/hotel project in suburban Philadelphia in connection with the receipt of all land-use and development approvals.
Handled the acquisition of the former IBM plant in East Fishkill, NY, which included more than one-million square feet of space with plans to build 600,000 square feet and an investment of $300 million to $400 million in the project for our client, Assisted Preferred Real Estate Investments, Inc. (who took title under the entity name of PREI Hopewell Junction Associates, L.P.).
Remediated and redeveloped the contaminated 10-acre Campbell’s Soup riverfront manufacturing site in Camden, NJ into a state-of-the-art minor league baseball stadium.
Handled the redevelopment of the former 391-acre Ingersoll-Rand Phillipsburg, NJ facility into a multi-tenant industrial park.
Redeveloped the former American Standard facility in Hamilton, NJ into commercial and residential mixed use.
Converted Ford Electronics/North Penn No. 7 Site, a 35-acre former industrial site in Lansdale, PA, into a mixed-use transit-oriented redevelopment.
Developed a cleanup agreement with PADEP and proposed development for Pennsylvania Turnpike Commission Service Plazas - a 21-site project.
Converted PECO Generating Station, a 90-acre, Chester, PA site, into adaptive commercial re-use of Delaware River site.
Obtained a significant land development approval for a 14-building, seven-phase project in Lower Gwynedd Township, PA, for our client, Ortho-McNeil, a subsidiary of Johnson & Johnson.
Handled the redevelopment of the former 261-acre Texas Instruments Attleboro, MA facility into a mixed-use commercial office park.
Closed a $180 million construction loan with a syndicate led by Bank of America for our client, Atlantic Realty Development Co., for the development of a high-rise luxury rental project on Avenue of the Americas (a/k/a Sixth Ave.), two blocks south of Herald Square. At the time, this was one of the few projects in New York City fortunate enough to obtain construction financing, a tribute to the well-established track record and financial commitment of Atlantic Realty, a family-owned developer based in New Jersey embarking on its second ground-up development in Manhattan.
Represented HSBC Bank in a construction loan closing. The transaction consisted of an $80 million multi-lender construction loan for a $153 million, 320,000 sq. ft. mixed use project in Queens, New York, which included a senior loan, building loan and project loan. The three-loan structure is a creature of the unique requirements of New York’s statutory treatment of mechanic lien priority. The site itself is a complicated combination of a Hyatt Hotel, residential apartments that share certain hotel amenities, first-floor retail space, office space, community facility space and a multi-level garage.
Represented a joint venture owning a super regional shopping center in one of the largest commercial mortgage-backed securities (CMBS) loans closed in 2010.
Represented a nationally known private equity fund in the overhaul of a distressed portfolio of national real estate assets involving the restructuring of several hundred million dollars of senior debt and recourse guaranties, and extensive modification of the internal equity structure of scores ownership entities.
Represented a private equity fund in acquiring a loan secured by a failed residential high-rise condominium development in the Southeast United States.
Represented a private equity fund in acquiring a distressed loan secured by a major office building in the Southeast United States and a contemporaneous deed in lieu transaction.
Represented the buyer of a loan secured by a failed residential condominium development in the Philadelphia, Pennsylvania area.
Represented a lender making a loan in connection with a major mixed use development in the Cleveland, Ohio area.
Represented the developer of a New York residential condominium development in connection with a work/out restructuring of three loans.
Represented private equity client in connection with a $15 million loan secured by (I) multiple real estate parcels, (II) pledge of membership interests, (III) pledge of cash collateral account held by third party, and (IV) a personal guaranty. Proceeds of this loan were utilized, together with proceeds of other private/institutional lenders and bond offerings to develop a multi-use project in Cleveland, OH.
Represented a large Connecticut-based developer in the sale of federal historic tax credits and the related construction loan refinancing to convert an abandoned warehouse into a 235-unit residential apartment building. We also handled the later $30 million refinancing of the project with Freddie Mac as part of its capital markets execution program for large multifamily loans.
Represented a family and their real estate entity in two transitions in which they disposed of approximately $700 million of commercial real property to two separate REITs
Represented a large trust in connection with the disposition of properties to a variety of UPREITs in exchange for units.
Advised a client regarding their closely-held REIT and certain real estate acquisitions that cannot be made through the Fund because of concerns about the tax on the unrelated business taxable income of otherwise tax-exempt entities.
Represented a client in connection with its acquisition a private REIT which owns shopping malls. This was largely a cashless transaction. The REIT is in the process of being liquidated.
Represented a client in connection with the acquisition and liquidation of a private REIT that owned a Texas shopping center.
Represented the owners of about ten office/light industrial properties in the contribution of those properties to a partnership in exchange for REIT units.
Represented a REIT in connection with certain real estate matters and, in connection with those matters, were involved in the application of the REIT rules to the transactions.
Represented a client that disposed of a number of office properties in contribution transactions to a REIT based in Memphis, TN.
Represented a client that had a privately held REIT as its equity partner in connection with its relations with that entity, the operation of its business to conform to the REIT requirements in its LP Agreement, and the redemption of that entity.
Represented the Miller family entity in connection settling claims against the Simon REIT and entering into a joint venture with a subsidiary of Simon to own a shopping center.
Represented Acorn Properties in selling office properties to Equity Office Properties Trust.
Handled an initial public offering for EQK Realty Investors.
Represented seller of property to a REIT in an "upreit" transaction –where the seller took back OP Units in the REIT.
Represented the Special Committee (independent directors) of the Board of Directors of a few REITS when they negotiated related party transactions; e.g., internalizing management by terminating the management contract with the external company controlled by REIT management (interested directors.)
Assisted a Virginia-based developer in the development of a grocery anchored shopping center in Virginia. Negotiated grocery store lease as well as leases for in-line tenants and outparcels for national restaurant and drug store chain, together with office and residential users. Handled the satisfaction of various title, survey, easement and site plan complexities.
Assisted a Florida-based developer in the development of retail outparcel in a large regional big box retail shopping center. Negotiated the amendment of a master declaration affecting the property to permit the use and variances necessary to construct and reconfigure signage, access, utilities and other easements necessary to develop the site. Assisted in all matters of title, acquisition, construction and permanent financing and the entitlement process.
Assisted national, publicly traded REIT in development and leasing of retail center appurtenant to 1.3 million square foot office complex. Handled all aspects of the transaction, including condominiumization of the retail and public components of the development, negotiating and documenting complex easement and cost sharing agreements among the various parties to the development, and negotiating leases with all retail tenants.
Assisted a Pennsylvania-based developer in the development and leasing in Pennsylvania and New Jersey of multiple big box shopping centers anchored by national retailers such as Wal-Mart, Lowe’s and Home Depot. Our representation included the acquisition and financing of the centers, the negotiation of anchor and in-line leases, and the negotiation of agreements vesting easements, covenants and restrictions.
Assisted a national health and fitness center operator in negotiating leases for space in many shopping centers nationwide as part of a national expansion program. The premises leased included in-line space, anchor stores and stand alone buildings on outparcels. Our services typically also included the review of title and other due diligence materials, as well as the review and negotiation of complicated declarations of reciprocal easements, covenants and restrictions. With regard to New York City locations, our land-use attorneys represented the client in obtaining the necessary special permits or zoning variances.
Assisted an internationally known, European mono-brand retailer in its U.S. leasing program in both the highest end retail centers for current merchandise and off-price centers for after-season merchandise liquidation. Centers include the Forum Shops in Las Vegas, Royal Hawaiian Shopping Center, Tyson’s Galleria in Virginia and Woodbury Common in New York.
Assisted in a general, large scale development plan involving rezoning, special permits and siting of a public school in connection with plans to construct a 170 square foot mixed-residential, commercial and community facility building and public parking garage.
Handled an application before the Board of Standards & Appeals to permit the construction of a 220 square foot residential building over extensive community opposition and controversy over the underlying zoning calculations for the design.
Handled the authorization of the conversion of a former manufacturing building in a historic district by the Landmarks Preservation Commission and City Planning Commission into 91 units of housing.
Obtained special permits and Waterfront Certification to permit construction of a 300 square foot. mixed building complex including 140 units of affordable housing and a new public park.
Handled a general large scale development plan amendment to facilitate the acquisition of vacant land and development rights from the New York City Housing Authority for the development of three phases of affordable housing.
Handled the foreclosure of a major, urban, residential, high-rise condominium project in which out-sales had already taken place, assisting the lender in matters related to the condominium association and in preparing a new public offering statement for outsales.
Defended a foreclosure and negotiated and structured a workout related to a 400 unit residential phased development.
Handled a foreclosure on an iconic urban office building and negotiating and documenting an assignment of sheriff's sale bid.
Represented a borrower in structuring a deed in lieu transaction (in the context of a confirmed bankruptcy plan) to facilitate a §1031 deferred exchange.
Negotiated and documented a workout in which the borrower provided additional collateral consisting of a 50 percent interest in a shopping mall and then acquiring such interest in a subsequent workout.
Represented an institutional investor in the restructuring of significant portions of a multibillion dollar real estate portfolio.
Closed the $253 million sale of a Manhattan office building in our offices. The 389,000 square foot building, known as the HarperCollins Building, 10 East 53rd Street, was sold by an Italian pension fund to SL Green, the REIT that is the largest owner of New York office buildings.
Handled the sale of equity interests in entity that owned Wellington Apartment Complex located in Arlington, Virginia.
Represented New Millennium Estates Ltd., in the sale of 10 East 53rd Street New York, New York for Italian Pension Fund.
Represented Government of the Republic of Senegal, in the development of the site for the Senegal Mission to UN and Consulate.
Represented IRSA International, Inc. in the Argentina/US Domino Sugar Development Site; however, the transaction did not close.
Represented Mark Knopfler, in the lease of investment property at 36 Bank Street, New York, New York for a U.K. Investor.
Represented Xin Zhang (Soho China), in the China/U.S. purchase of New York home for Chinese Developer.
Represented a newly formed real estate limited partnership in a $100 million syndication of limited partnership interests.
Represented a real estate investment trust in connection with the acquisition of whole loans, participations, A/B notes and mezzanine interests and has experience in negotiating both intercreditor and participation agreements.
Handled the acquisition by merger of a publicly-traded REIT for $900M by another publicly-traded REIT
Represented a large Philadelphia-based developer in the restructuring of a joint venture agreement for an existing multifamily apartment project located in Baltimore, which included the contribution of $9 million of additional equity by a new preferred equity investor.
Represented a national developer in the work-out of a defaulted $35 million construction loan with respect to a failed Florida condominium project and the negotiation of a related partnership restructuring with the developer's joint venture partner.
Represented SL Green Realty Corp., a publicly traded REIT and the largest commercial landlord in New York City, in the acquisition of a 9,650 square foot retail cooperative apartment at 747 Madison Avenue in Manhattan for a purchase price of $66 million.
Represented a real estate investment management firm in its investment in and financing of the majority interest in a $2.5 billion joint venture formed to develop or redevelop a portfolio of 93 assets on 42 development sites located throughout the greater Washington, D.C., metro area, as office, retail, hotel and multifamily residential.
Handled all aspects of the acquisitions of portfolios of office and industrial properties in Minnesota and Arizona, some by purchase of defaulted loans.
Represented an affiliate of Arden Real Estate Partners I LP in its acquisition, in joint venture with affiliates of Carey Watermark and Marcus Hotels and Resorts, of the 372 room Atlanta Westin Perimeter Hotel. In less than thirty (30) days the team and our co-counsel negotiated and concluded the acquisition, joint venture, hotel management and franchise and loan documentation. Total acquisition and property committed property improvement costs were $57,000,000.