Our multidisciplinary team offers a broad range of services to our commercial lending clients in deals of all sizes.
- Structured, negotiated and closed debt financing for the development of a $1.3 billion greenfield steel mini-mill under construction in northeast Arkansas.
- Represented a bank client in a $250 million warehouse line involving approximately 65 assets around the United States.
- Structured and closed a $500 million line of credit for a private banking client made to the owner of a major sports team, utilizing collateral that included securities, art assets, partnership interests and trust assets.
- Structured and financed the development of a $200 million major metal production facility in Mississippi to be majority-owned by a Brazilian strategic investor.
- Represented institutional lenders and borrowers in acquisition and construction financing for resorts, hotels and related businesses in major markets nationwide and abroad. These include recent representation of institutional lenders in an $80 million refinance of the Warwick New York Hotel, a $70 million refinance of the Sheraton Brooklyn New York Hotel and a $45 million refinance of the Hampton Inn Manhattan-SoHo hotel.
- Involved in acquisition and construction financing of a 400-unit condominium in Miami Beach, Florida.
- Represented Fifth Third Bank in numerous construction loan transactions, including a $15.5 million construction loan to a New York real estate developer for the purpose of constructing a big-box retail store on property that has been and continues to be the subject of environmental remediation work by several large oil companies.
- Served as lead sponsor and company counsel on a more than $800 million start up, flat-rolled steel mill construction in Mississippi. The transaction was named “Deal of the Year” by Project Finance Magazine for its innovation in infrastructure finance and the strength of the management team in developing a deal that did not conform to traditional tenets of project financing.
- Represented Bank of America, N.A., as lender and administrative agent in several syndicated club transactions with various financial institutions (including Capital One, National Association, HSBC Bank, N.A., and Deutsche Bank), including $300 million, $163.5 million and $18 million credit facilities with revolving line of credit, term loan and letter of credit features secured by various commercial and residential real estate across the country (including New York, Connecticut and Kentucky), renowned artwork, and general business assets.
- Represented a Puerto Rico-based bank in connection with a multimillion-dollar bridge loan to finance the acquisition of a large development site in Atlanta, Georgia. In addition, we represented the bank in connection with an intercreditor agreement between the bank and the mezzanine lender on the transaction.
- Represented both borrowers and lenders in the financing of historical and new market tax credit transactions, including an $80 million financing for the rehabilitation and construction of seven properties in Ohio through equity, bond and tax credit financing.
- Acted as U.S. counsel in several international credit facilities, including recent €544 million and €150 million credit facilities to Germany-based companies.
- Represented financial institutions in numerous middle-market credit facilities and other middle-market financing transactions, including a $30 million credit facility with term loan, building loan and leasing improvement facilities secured by a commercial building in New York, and the modification, amendment and restatement of a $25 million working capital revolving credit facility with a related $10 million revolving credit facility, including term loan and mortgage features, issued to affiliated not-for-profit corporations used to fund acquisition and start-up costs for group homes in the state of New York.
- Regularly represent institutional lenders and private equity funds in participation loan transactions, where the funds typically originate the loan and sell the A note to institutional lenders while retaining the B and C notes. In these transactions, we have experience on both sides of the participation, both representing the institutional lenders in negotiating participation and servicing agreements as well as coordinating due diligence review and closing, and representing the funds in the origination and closing of the loans.
- Regularly represent KeyBank National Association in various commercial real estate transactions, including low-income and multifamily housing projects nationwide. Recent transactions include a $28.8 million acquisition and renovation loan for a multifamily project in Illinois (together with a subsequent participation), a $20.16 million acquisition loan for a multifamily property in Ohio, a $12.8 million acquisition loan for a multifamily project in Las Vegas, and a $5.2 million acquisition and renovation loan for a multifamily property in Hempstead, New York (which included industrial development agency and tax-exempt features).
- Represented an institutional lender in a $26.7 million mortgage loan in connection with the acquisition of commercial property and development rights in the city of New York.
PDMI Take 20: AI Series, Ep. 2 — Regulatory Implications
9/25/2023 | 1 minute read