Real Estate Capital Markets/Debt
The Goulston & Storrs Real Estate Capital Markets/Debt group represents major national, international and regional investors, owners, developers, borrowers and lenders. Our well-balanced experience allows us to bring a comprehensive understanding to all the issues related to complex capital markets transactions. Our team plays a critical role in structuring and delivering creative and innovative financing for our clients.
Members of the Real Estate Capital Markets/Debt group focus on real estate finance transactions for both portfolios and individual properties, investment funds, joint ventures, REITs, mortgage and mezzanine financing, securities, syndicated loans, recapitalization and loan restructuring of distressed debt and non-traditional debt-equity structures. Our deep knowledge of the REIT structure, extensive real estate experience and strength in corporate securities, has resulted in the successful completion of some of the largest and most complicated real estate transactions in the United States on behalf of our REIT clients.
Across all transactions, we use a multidisciplinary approach and understand the critical considerations regarding tax, bankruptcy and workout and exit strategies that impact capital market transactions.
For further information about the firm’s Real Estate Capital Markets/Debt group, please contact the group co-chairs, Adam T. Curry, James H. Lerner or Stephen Schweiger.
We regularly counsel our clients with respect to Real Estate Capital Markets/Debt matters including:
- Construction and Permanent mortgage financing
- Mezzanine and Bridge financing
- Government-assisted financing
- Convertible and Participating Debt transactions
- Loan Syndications/Securitization
- Private Placement Financing
- Sale Leasebacks
- Tax-exempt and taxable credit-enhanced bond financings
- AION Partners
- Allstate Insurance Company
- American Campus Communities
- Avalon Bay Communities
- Bank of America
- Beacon Capital Partners
- Boston Properties
- Capital One
- Clark Realty Capital LLC
- Colony Realty Partners
- CrossHarbor Capital Partners
- Deka Bank
- Eaton Vance
- Goldman Sachs
- Hunt Companies Inc.
- IBUS Company
- JP Morgan
- Lincoln Property Company
- Madison Capital
- Meadow Partners
- Morgan Stanley
- Santander Bank, N.A.
- Starwood Capital Group
- Starwood Property Trust
- TD Bank
- The Community Development Trust
- Tricon Capital Group
- Wells Fargo Hospitality Finance Group
Representative Projects and Transactions
Mortgage and Mezzanine Finance
- Representation of agent bank for a syndicate of lenders in a $200 million refinance and renovation of 2 Grand Central Office Tower in New York City.
- Representation of international real estate investment companies in their first real estate joint venture, acquisition, and financing.
- Representation of a bond holder in the purchase of a bond for a local university.
- Counsel to a consortium of regional banks on the $50M financing for a portfolio of retail properties in New England.
- Representation of a lender in connection with the $40M refinancing and restructuring of a large hotel in midtown Atlanta.
- Representation of large real estate investment firm in first mortgage and structured mezzanine financing of 30 office properties located in the District of Columbia, Virginia and Washington state consisting of over 11.5 million square feet of office space.
- Representation of international real estate investment companies in certain loan repurchase facility arrangements for various multifamily portfolios.
- Representation of international real estate investment company in the financing of a hotel at Newark Liberty International Airport.
Representation of agent bank for a syndicate of lenders in a $66.68 million construction loan for a condominium conversion of an existing apartment building on Central Park West in New York City.
Representation of bank in a $38.5 million construction loan for a multifamily apartment building in Long Island City, NY.
- Representation of a syndicate of lenders in connection with $150M in construction loans for office buildings in Waltham, MA.
- Representation of large real estate investment trust in connection with the $215M construction financing of Atlantic Wharf (formerly known as Russia Wharf).
- Representation of a major bank with respect to a $32M construction loan for the redevelopment of the Italian Embassy in Washington, DC. and a $50M loan to the Westin Hotel and condominiums in Providence, Rhode Island.
- Representation of a syndication of national real estate lenders on a $340M construction loan for office buildings located throughout the United States.
- Representation of a Wall Street firm and national bank in leading a syndicated construction loan for an office project in the Mid-West.
Restructuring & Workouts
- Representation of a real estate development firm in connection with the restructuring of a $64M syndicated construction loan on a mixed-use retail and residential development site, involving a new mezzanine loan, a discounted pay off of the co-lenders and a modification of senior loan with remaining co-lenders.
- Representation of a major lender in a condominium construction loan workout and restructuring of lines of credit to an opportunity fund secured by pledges of interests in real estate investment entities.
- Representation of residential real estate investment company in several lien and mezzanine loan restructurings, including the purchase of a distressed loan position for land in Florida and Georgia by taking assignment of the senior debt, and the purchase of distressed assets through a 363 asset sale in bankruptcy.
- Counsel for a family of real estate private equity funds with respect to complex joint venture restructurings and advice regarding potential bankruptcy/restructuring of a portfolio company.
- Representation of a major national lender with respect to foreclosures, workouts, receiverships and sale of notes for several multifamily properties located in New York and Massachusetts.
- Representation of agent bank for a syndicate of lenders in a $620 million office acquisition financing and negotiation of intercreditor agreement with mezzanine lender.
- Representation of Starwood Capital Group in connection with its joint venture with Gaia Real Estate in the restructuring and recapitalization of PJ Finance Company and its 9500 units of multi-family housing located in Arizona, Georgia, Texas, Florida and Tennessee.
- Representation of AION Partners in connection with the refinancing and loan acquisitions of multifamily properties in Arizona, Florida, Georgia, North Carolina, New York and Texas.
- Representation of AION Partners in connection with their joint venture formation and ongoing investments in commercial real estate properties.
- Representation of real estate investment company in the purchase of distressed loan portfolios of multi-family and senior living properties located in North Carolina, Texas, Arizona, Florida, Georgia and New York and subsequent reorganizations, workouts and foreclosures.
- Representation of European real estate bank in connection with $82M of acquisition financing (senior and mezzanine) with respect to an industrial portfolio (27 improved properties and additional developable parcels) in Memphis, Tennessee.
- Representation of German savings bank finance group in several acquisitions including:
- $30M portion of a $265M mezzanine loan made with respect to the John Hancock Tower, Boston, Massachusetts.
- $100M portion of a $3.5B Senior Secured Credit Facility made to a major REIT.
- $65M portion of a $925M loan originated by Deutsche Bank made to the owner of 60 Wall Street (the Deutsche Bank Headquarters).
- $140M acquisition financing of the Renaissance Boston Waterfront Hotel, consisting of a $90M senior loan and a $50M mezzanine loan.
- Representation of a private investment fund in connection with a $400 million acquisition financing for a portfolio of office buildings in San Francisco, California.
Line of Credit Financing
- Representation of a syndicate of lenders in a $600 M unsecured credit facility to a REIT.
- Representation of a syndicate of lenders in a $100M mortgage warehousing financing facility.
- Representation of an opportunity fund in a $250M line of credit secured by partnership interests.