Kaye Scholer’s nationally recognized Real Estate Group is known for building real solutions to complex problems. Our 45 lawyers represent some of the world's largest financial institutions, institutional investors and real estate owners in the full range of real estate and structured finance transactions across all asset classes.
|Warren J. Bernstein
In the Market
- Hait to Speak at PLI's “Negotiating Real Estate Deals 2015” June 4, 2015 • Speaking Engagements
- Kaye Scholer Advances in Chambers USA Rankings May 19, 2015 • Recognitions
- Allardyce to Moderate CREFC Education Session on Crowdfunding May 14, 2015 • Speaking Engagements
- Securities Enforcement Alert: S&P Receives a One-Year Suspension for MBS Ratings Misconduct January 22, 2015 • Client Alerts
- Does a New York Foreclosure Create an Opportunity for a Tenant to Walk Away from Its Lease Obligations? January 2015 • Articles
- Kaye Scholer Earns 75 Practice Rankings in U.S. News-Best Lawyers’ “Best Law Firms” 2015 November 3 • Recognitions
- Stephen Culhane Offers Insights on CalPERS’ Increased Investment in Commercial Real Estate in Globe St. September 24 • Media Mentions
- Forty-five Kaye Scholer Lawyers Recognized by Their Peers in Best Lawyers 2015 August 18 • Recognitions
- Nine Kaye Scholer Practices and 24 Individuals Recognized in Legal 500 US 2014 June 27 • Recognitions
The Numbers: Our Accomplishments
- $750 million Value of our largest deal in 2014
- 215 Deals closed in the last year
- 800 RBS real estate transactions on which we advised
- 25+ Years representing Crédit Agricole & Investment Bank, a premier lender to the hospitality industry
Capabilities: How We Do It
- Full service on a broad range of matters: Highly complex and sophisticated transactions to traditional purchases, sales, leases, financings, workouts of troubled companies and real estate joint ventures.
- Leadership in real estate capital markets: Originations, equity, debt sales and acquisitions, securitizations, syndications, loan sales, workouts and restructurings
- Extensive loan origination experience: Real estate loans (first mortgage and mezzanine) for the capital markets (including securitization or CLO execution) as well as for the balance sheet
- Experience with all asset types: Office, retail, hospitality and multifamily, industrial and mixed-use properties, among others
- Key domestic and international stakeholder representation across all transaction types: Private equity funds, institutional investors and developers in a variety of complex acquisition, disposition, joint venture, financing, construction and development transactions involving commercial real estate projects
- AWH Partners and Blue Mountain Capital: Joint venture in connection with the acquisition through a Section 363 bankruptcy sale of eight hotels branded or to be branded with a national hotel chain in Colorado, Michigan, Ohio, Texas, Oregon and Washington, along with related joint venture documentation and senior-secured financing arrangements. We also negotiated all franchise agreements and hotel management agreements for the portfolio.
Subsequent to the acquisition, we also represented the joint venture with respect to mortgage and mezzanine financing from Blackstone in the aggregate amount of $155 million, which included the financing of a significant construction component for certain required property improvement plan work across the portfolio.
- Canada Pension Plan Investment Board: $225 million mezzanine loan financing in connection with a mortgage and multiple mezzanine financings in the aggregate amount of up to $1.75 billion to refinance existing debt secured by the Atlantis Resort located in the Bahamas
- Crédit Agricole: $450 million financing by a multilender syndicate of the 1,500-room Bonnet Creek Resort in Orlando, Florida.
- Deutsche Bank: $520 million mortgage and mezzanine financing of Google and Amazon office complexes in Sunnyvale, California.
- Greenfield Partners and Magna Hospitality Group: Joint venture in the ground leasing and leasehold financing of the Sheraton Tribeca, the Doubletree by Hilton Financial District and the Element Times Square. The transaction included the negotiation of ground leases for each hotel, the sale of the land and the landlord’s interest under each ground lease to a real estate investment trust for over $300 million, and the refinancing of the debt on the hotels through new ground leasehold financings in the aggregate amount of $320 million. The new debt, originated by Cantor Commercial Real Estate, was structured as four separate loans, consisting of a mortgage loan and three mezzanine loans, with the third and most-subordinate mezzanine loan structured to be Shari’ah compliant.
- RBS: $525 million first mortgage loan to an affiliate of Westfield America, Inc., secured by the Garden State Plaza Mall in Paramus, New Jersey, one of the largest shopping malls in the US.
- Related Companies: Acquisition and financing, in partnership with the New York City Pension Funds, of a 3R building, $270 million portfolio of multifamily apartment buildings in the Bronx, which includes medical offices and more than 2,000 apartments. The acquisition is part of a commitment by the New York City Pension Funds to invest equity up to $310 million in city properties.