Real Estate

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Operating at the intersection of Wall Street and Main Street, Willkie’s Real Estate Department leverages its industry experience and multi-disciplinary approach to advise clients on every deal aspect, regardless of structure, size, location or property type. We represent a diverse group of clients — public and private, foreign and domestic, real estate investment and hedge funds — in real estate transactions throughout the United States and beyond.

The team regularly advises large institutional clients on multibillion-dollar transactions, organizes public and private REITs, and advises on opco-propco transactions, REIT mergers and acquisitions, equity offerings and securitized financings, as well as other transactions involving public and private capital markets. We also work on complex single-asset and multi-property portfolio acquisitions and sales, formations and recapitalizations of joint ventures, and leasing and development transactions.

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We have extensive experience in complex financings, sophisticated leasing transactions, and single-asset and multiproperty acquisitions and sales. The Real Estate Department has participated in transactions involving the issuance of over $100 billion of real estate securities and the acquisition or financing of over 60 million square feet of Class A office space, over 500 regional malls and other shopping centers, and portfolios of hotels, casinos and other commercial properties located throughout the United States.

Our interdisciplinary approach to the practice of law, and the cooperative spirit that it engenders in all of our attorneys, enables us to excel at transactions of all kinds. We, in turn, are regularly called upon to provide real estate advice on transactions – such as mergers, acquisitions, asset sales and restructurings – led by the firm’s other practice groups. We coordinate the work of several of the firm’s practice areas, including Private Equity/Venture Capital, Mergers and Acquisitions, Capital Markets, Banking and Institutional Finance, Structured Finance, Asset Management, Business Reorganization and Restructuring, Tax, Communications, Media and Privacy, Environment, Health and Safety Department and Executive Compensation and Employee Benefits.

Our Real Estate Department is designated among the country’s leading real estate practice groups by prestigious publications such as American Lawyer, BTI Consulting, Chambers, Euromoney, Global Counsel, IFLR 1000, Institutional Investor, Law360, Legal 500 and Who’s Who. In 2012 and 2014, we were named Real Estate Practice Group of the Year by Law360. Real Estate partners have also been consistently named to Law360’s annual list of “MVPs” in Real Estate – including two of a total ten attorneys nationwide in 2015 – as well as its “Rising Stars” list. We are also recognized in Chambers USA 2016 for “diverse capabilities across all types of real estate matters, including financings, restructurings and joint ventures,” with a client stating that “they are smart partners who understand business well and are in tune with clients’ needs.”

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Highlights

Willkie has participated in many of the largest real estate transactions of the last decade.  We combine the knowledge and innovative thinking required to structure complex deals with the personnel needed to execute them.  Selected recent engagements include:

Company Level Mergers and Acquisitions

  • American Realty Capital – Retail Centers of America, Inc. (RCA)/American Finance Trust, Inc. (AFIN)

    We represented BMO Capital Markets, as financial advisor to the special committee of American Realty Capital – Retail Centers of America, Inc.’s (RCA’s) board of directors, in connection with RCA’s agreement to merge with American Finance Trust, Inc. (AFIN) in an approximately $1.4 billion deal creating a retail-focused REIT.

  • Colony Capital/NorthStar

    We represented Colony Capital, Inc. in its $17 billion merger of equals with NorthStar Asset Management Group Inc. and NorthStar Realty Finance Corp. to create Colony NorthStar, Inc., with $58 billion of assets under management.

  • RegionalCare Hospital Partners/Apollo Global Management

    We represented RegionalCare Hospital Partners, an owner and operator of eight regional acute care facilities in seven U.S. states, in connection with the acquisition of RegionalCare by funds affiliated with Apollo Global Management.

  • Arbor Realty Trust/Arbor Commercial Mortgage

    We represented the Special Committee of the Board of Directors for Arbor Realty Trust in connection with Arbor Realty Trust’s pending acquisition of Arbor Commercial Mortgage’s agency platform.

  • Colony Financial/Acquisition of Cobalt Capital

    We represented real estate investment and finance company Colony Financial, Inc. in its $1.6 billion acquisition of Cobalt Capital Partners and its highly diversified portfolio of 256 primarily light industrial assets.

  • Washington Prime/Acquisition of Glimcher Realty

    We represented Washington Prime Group Inc. in its $4.3 billion acquisition of Glimcher Realty Trust, including advising WPG on Glimcher’s $1.09 billion simultaneous sale of  two malls--Jersey Gardens in Elizabeth, New Jersey and University Park Village in Fort Worth, Texas--to Simon Property Group.

  • Brookfield/General Growth Properties

    We have advised and continue to advise Brookfield Asset Management Inc. in connection with its cornerstone investment agreement with respect to giant regional mall developer/owner/operator General Growth Properties.  This arrangement will facilitate GGP’s planned exit from one of the most significant real estate bankruptcies in history.

  • Sunrise Senior Living, Inc.

    We have advised and continue to advise Sunrise Senior Living, Inc. in connection with real estate matters relating to its definitive merger agreement to be acquired by Health Care REIT, Inc. in an all-cash transaction valued at $1.9 billion (including debt).

  • Simon Property Group, Inc.

    We represented Simon Property Group Inc. and its affiliates in connection with the following transactions:

    • Acquisition of Chelsea Property Group Inc. for $3.5 billion in cash and stock.
    • Acquisition of Rodamco North America’s $5.8 billion in U.S. assets by Simon Property Group and its partners, Westfield America and The Rouse Company.
    • Acquisition of Corporate Property Investors.
    • The hostile tender offer for the common shares of Taubman Centers, Inc.
  • Ventas, Inc.

    We represented Ventas, Inc. and its affiliates in connection with the following transactions:

    • Acquisition of Cogdell Spencer Inc., a REIT focused on medical facilities, for approximately $770 million including assumed debt.
    • Acquisition of Provident Senior Living Trust in a transaction valued at $1.2 billion. 
  • Colony Capital LLC

    We represented Colony Capital in connection with the following transactions:

    • The acquisition of Fairmont Hotels & Resorts, Inc. in a joint venture with Kingdom Hotels, Inc. for approximately $3.9 billion.
    • The $8.8 billion acquisition of Station Casinos, Inc. by Fertitta Colony Partners LLC, a joint venture between Colony Capital Acquisitions, LLC, an affiliate of Colony Capital, LLC and certain Station Casinos executives.
  • The Mills Corporation/Merger with SImon Property and Farallon

    We represented The Mills Corporation in connection with the following transactions:

    • Negotiating Mills’ agreement to be acquired by a joint venture between Simon Property Group Inc. and funds managed by Farallon Capital Management LLC for $25.25 per common share in cash or about $1.64 billion.  The total transaction value of the deal was $7.9 billion, including assumed debt and preferred stock.
    • Refinancing Mills’ approximately $1.5 billion senior credit facility with Goldman Sachs Mortgage Company, as well as related first-mortgage loan facilities totaling approximately $746 million which enabled Mills to payoff its existing credit facility and provided additional liquidity for the consummation of its acquisition by Simon Property Group and Farallon Capital.
  • Forest City/Portfolio Amalgamation

    Represented Forest City Ratner Co. and leading New York City developer Bruce Ratner in connection with the amalgamation of the combined interest of Mr. Ratner and Forest City Enterprises, Inc. in 30 retail, office and residential operating properties and certain service companies.

  • Macklowe Properties/Bid for Reckson Associates Realty Corp.

    Represented Macklowe Properties in its $4.6 billion bid with investor Carl Icahn to acquire Reckson Associates Realty Corp.

  • Shurgard Storage Centers, Inc./Acquisition by Public Storage, Inc.

    Represented Shurgard Storage Centers, Inc. in its $5 billion acquisition by Public Storage, Inc.

  • Developers Diversified Realty/Merger with JDN Realty Corporation

    Represented Developers Diversified in its merger with JDN Realty Corporation.  This transaction added over $1 billion of assets to our client’s portfolio, increasing its asset base approximately 30%.

  • DeBartolo Realty Group/Acquisition by Simon Property Group

    Represented DeBartolo Realty Group in its acquisition by Simon Property Group, the first combination of REITs with assets held through UPREIT structures.

  • Brandywine Realty Trust/The Rubenstein Company, LP

    Represented Brandywine Realty Trust in its acquisition of approximately 3.5 million square feet of Class A office space through the acquisition of The Rubenstein Company, L.P. for more than $600 million.

  • Storage Mart/MBO

    Represented Warburg Pincus’ Storage Mart Partners in its sale to a management-led buyout group for approximately $350 million.

  • CBL & Associates

    Represented CBL & Associates in a complex §1031 transaction with Galileo Shopping America Trust and in the acquisition of the Jacobs Company.

  • Petro Stopping Centers/Acquisition by TravelCenters of America and Hospitality Properties

    Represented Petro Stopping Centers Holdings, LP in its acquisition by TravelCenters of America LLC and Hospitality Properties Trust.

  • Oriole Partnership/Bid for Town and Country Trust

    Represented Oriole Partnership LLC, a joint venture investment vehicle formed among Essex Property Trust, Inc., UBS Wealth Management - North American Property Fund Limited, and AEW Oriole Co-Investment, LLC, in its bid to acquire all of the outstanding common shares of The Town and Country Trust for $36.00 per share in an all cash transaction.

  • AREA Property Partners/Sale to Ares Management LLC

    We advised AREA Property Partners in its sale to Ares Management LLC. AREA Property Partners is a leading real estate management firm investing across North America, Europe and India. The transaction included the acquisition of the minority stake in AREA held by National Australia Bank. 

  • Australia’s Future Fund/Brookfield’s Acquisition of MPG Office Trust

    We advised on Brookfield’s $426 million acquisition of MPG Office Trust, representing Australia’s Future Fund, a key investor, in certain aspects of the transaction. 

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Asset Related Sales and Acquisitions

  • Industrial Building Company/817 Broadway

    Represented a family business in its sale of its interest in 817 Broadway, a 140,000-square-foot commercial building located at the corner of East 12th Street in Manhattan’s Greenwich Village, marking the first time the building changed ownership in more than 60 years.

  • St. John's University/Amity University

    Represented St. John's University in the sale of its 170-acre Oakdale property to Amity University, a nonprofit international educational organization, and the leaseback of a portion of the campus.

  • WP Glimcher

    Represented WP Glimcher in its sale of Northlake Mall, located in Atlanta, Georgia, and Forest Mall, located in Fond du Lac, Wisconsin to Dallas-based ATR Corinth Partners.

  • B&L Management Company

    Represented B&L Management Company in connection with the $690 million sale of 24 apartment buildings located in Chelsea and the Upper East Side in Manhattan to Blackstone and Fairstead. 

  • Ares Management, L.P.

    Represented an affiliate of Ares Management, L.P. in the sale of  an office condominium unit comprising approximately 375,000 square feet in the 1 million square foot mixed use complex located at 1111 Marcus Avenue on Long Island, New York to North Shore University Hospital. 

  • Ares Commercial Real Estate Corporation

    Representing Ares Commercial Real Estate Corporation in connection with a $170 million preferred equity investment in a REIT holding a portfolio of primarily student housing assets.

  • The American Home/Sale to Silver Bay Realty Trust Corp.

    Represented The American Home a definitive agreement for the sale of a portfolio of single-family homes to Silver Bay Realty Trust Corp. for $263 million. The portfolio comprises approximately 2,460 single-family homes located in the southeastern United States, and the transaction was cited as one of the largest bulk purchases in the rental-home industry. 

  • Washington Prime/Acquisition of Glimcher Realty

    We represented Washington Prime Group Inc. in its $4.3 billion acquisition of Glimcher Realty Trust, including advising WPG on Glimcher’s $1.09 billion simultaneous sale of  two malls--Jersey Gardens in Elizabeth, New Jersey and University Park Village in Fort Worth, Texas--to Simon Property Group.

  • Preeminent New York-Based Investment Firm

    We represented a large investment firm in the acquisition of:

    • “Oak Knoll,” a vacant, undeveloped parcel of land in Oakland and the site of a former U.S. Naval hospital.
    • “Lighthouse Landing,” a vacant, undeveloped parcel of land in Sleepy Hollow, New York and the site of a former General Motors products assembly plant. 
  • Lantern Asset Management/Expansion of Luxury Hotel Collection

    We represented Lantern Asset Management and the ownership group in Montage Hotels & Resorts’ addition of Montage Kapalua Bay to its luxury hotel collection.

  • St. John’s University/Sale of Manhattan Campus

    We represented St. John’s University in the sale of its Manhattan campus property at 101 Murray Street to a joint venture of New York City real estate firms Fisher Brothers and The Witkoff Group.

  • Paramount Group, Inc.

    We represented Paramount Group and its affiliates in connection with the following transactions:

    • Acquisition of 50 Beale Street, a Class A office building located in San Francisco, from a joint venture of Rockefeller Group Development Corp. and Mitsubishi Estate of New York.
    • Sale, together with Sherwood Equities, of 440 Ninth Avenue in New York City, an 18-story, 400,000 square foot office building, to an affiliate of Jowa Real Estate Company, Limited, a Japanese public company.
    • Acquisition, together with its joint venture partners, of One Court Square, a 1.5 million square-foot, 50-story office property located in Long Island City, New York for approximately $500 million.
    • Takeover of sole ownership of 900 Third Avenue through Paramount’s acquisition of its partner’s 49 percent interest in the building. 
    • Acquisition of ownership interests in 1301 Avenue of the Americas for approximately $1.5 billion.
    • Acquisition of 60 Wall Street for $1.2 billion.
    • Acquisition of the commercial condominium unit at 31 West 52nd Street for approximately $600 million and its subsequent acquisition of the museum condominium unit.
    • Acquisition of 440 Ninth Avenue by a joint venture between Paramount and Sherwood Equities, Inc.
    • Acquisition of 220 West 42nd Street (a/k/a Candler Tower) for $208 million and its subsequent disposition.
    • Acquisition of a portfolio of Manhattan properties, including 712 Fifth Avenue, 745 Fifth Avenue, Financial Square (a/k/a 32 Old Slip) and 152 East 52nd Street.
    • Recapitalization of a 49 percent ownership interest in 1633 Broadway thereby increasing Paramount’s equity in the property to 75 percent.
    • Sale of 1177 Avenue of the Americas for $1 billion.
    • Sale of 1540 Broadway for $820 million.
    • Sale of Financial Square for $751 million.
    • Sale of 180 Maiden Lane for $355 million.
  • DiamondRock Hospitality Company

    We represented DiamondRock and its affiliates in connection with the following transactions:

    • Sale of the 386-room Oak Brook Hills Resort and the adjacent Willow Crest Golf Club, located in Oak Brook, Illinois.
    • Sale of the 487-room Torrance Marriot South Bay, located in Torrance, California.
    • Acquisition of a 4-hotel portfolio –  the Hilton Boston, the Westin Washington D.C., the Westin San Diego and the Hilton Burlington – for $495 million from affiliates of Blackstone Real Estate Partners.
    • Acquisition of the Radisson Lexington Hotel located in New York City for $335 million. 
    • Acquisition of a hotel property currently under development on West 42nd Street in Times Square, New York City, that is expected to contain approximately 250 to 300 guest rooms.
    • $330 million acquisition of a leasehold interest in the Westin Boston Waterfront Hotel and 100,000 square feet of retail space, and an option to acquire a leasehold interest in an adjacent site.
    • Acquisition of the Renaissance Waverly Atlanta Hotel (Atlanta, GA) and the Renaissance Austin Hotel (Austin, TX) for $237.5 million.
    • Acquisition and subsequent sale of the Minneapolis Hilton.
    • Acquisition and subsequent sale of the Hilton Garden Inn Chelsea located in New York City.
    • Acquisition of a four-hotel portfolio comprised of the Marriott Los Angeles Airport, the Renaissance Worthington (Fort Worth, TX), the Marriott Atlanta Alpharetta (Alpharetta, GA), and Frenchman’s Reef & Morning Star Resort (U.S. Virgin Islands).
    • Acquisition of the Hotel 5A, a boutique hotel in New York City.
    • Acquisition of the Vail Marriott Mountain Resort & Spa (Vail, CO).
    • Acquisition of a $69 million senior note secured by the Allerton Hotel, located on the Magnificent Mile in Chicago, IL.
  • Colony Capital LLC

    We represented Colony Capital and its affiliates in connection with the following transactions:

    • The acquisition of four casinos – Harrah’s East Chicago, Harrah’s Tunica, Atlantic City Hilton and Bally’s Tunica – for $1.24 billion.
    • The $1 billion acquisition of all of the hotel interests of Singapore-based Raffles Holdings Limited, comprising 15 Raffles Hotels & Resorts and 26 Swissôtel Hotels & Resorts in 35 locations.
  • Simon Property Group/Portfolio Acquisition

    Represented Simon Property Group in its acquisition of a portfolio of U.S. malls for $1.7 billion.

  • Boston Properties/Acquisition of 510 Madison Avenue

    We represented Boston Properties, Inc. in its acquisition of 510 Madison Avenue for approximately $280.5 million.

  • Ventas, Inc./Acquisition of 67 Healthcare and Senior Housing Properties

    We represented Ventas, Inc. in its acquisition of a diverse portfolio of 67 healthcare and senior housing properties for $649 million.

  • Westfield Realty/Portfolio Sale

    Represented Westfield Realty, Inc. in its sale of a portfolio comprised of 12 office buildings in Rosslyn and Crystal City, VA for $1 billion.

  • Beacon Capital Partners, LLC/ Acquisition of Hancock Center

    Represented Beacon in its acquisition of Boston’s John Hancock Tower and surrounding complex for $910 million.

  • Sherwood Equities/Acquisitionof 370 Lexington Avenue

    Represented Sherwood Equities, Inc. in its acquisition of 370 Lexington Avenue with its equity partner, JPMorgan Chase.

  • Chelsea 23rd St. Corp./Sale of Hotel Chelsea

    Represented Chelsea 23rd St. Corp. in its sale of the storied Hotel Chelsea located in New York City.

  • The Mills Corporation

    We represented The Mills Corporation and its affiliates in connection with the following transactions:

    • The acquisition of a 50 percent interest in General Motors Pension Trust’s regional nine-mall, 9.6 million square foot property portfolio in a $1.033 billion transaction.
    • Acquisition of St. Enoch Centre in Glasgow, Scotland for $524 million.
    • Acquisition of two regional shopping malls and related development components for approximately $452 million.
    • Sale of Mills’ interest in three retail malls – Vaughan Mills (Ontario, Canada), St. Enoch Centre (Glasgow, Scotland) and Madrid Xanadú (Madrid, Spain) – for approximately $981 million.
    • Sale of a 50 percent joint-venture interest in its Del Amo Fashion Center for $244.5 million.
  • New Plan Excel Realty Trust

    We represented New Plan in connection with the following transactions:

    • Sale of 69 community and neighborhood shopping centers in a transaction valued at $928 million in cash and $40 million in equity.
    • Sale of 53 garden apartment complexes located in 14 states for approximately $380 million.
  • Scout Real Estate Capital

    We represented Scout Real Estate Capital and its affiliates in connection with the following transactions:

    • Acquisition and subsequent disposition of the Wyndham Bermuda Resort and Spa located in Southampton, Bermuda.
    • Acquisition of the Harbor View Hotel and the Kelley House Hotel located in Edgartown, Martha’s Vineyard, MA, and subsequent disposition of the Kelly House Hotel.
    • Acquisition of the Sea Crest Resort and Conference Center located in Cape Cod, MA.
    • Acquisition of The Westmoor Club located in Nantucket, MA.
    • Acquisition of Plantation Inn located in Crystal River, FL.
    • Acquisition of approximately 6,000 acres of developable land on the “Big Island” of Hawaii.
  • Allianz Life Insurance Company of NA/Portfolio Sale

    Represented Allianz in the sale of its 18 property North American industrial property portfolio for $270 million.

  • CBL & Associates Properties/Acquisition of Monroeville Mall

    Represented CBL in its acquisition of the 1.1 million square foot Monroeville Mall located in western Pennsylvania for $231.2 million.

  • Warburg Pincus/Racebrook Capital

    Represented Racebrook Capital, a real estate opportunity fund created by Warburg Pincus in connection with its acquisition of the Wyndham Wilmington Hotel (Wilmington, DE).

  • Jim Wilson & Associates/Sale of Mall of Louisiana and Riverchase Gallery

    Represented Jim Wilson & Associates, a leading developer of regional malls in the southern U.S., in its sale of two 1.24 million-plus square foot regional malls.

  • Glazer Family/Sale of Del Amo Fashion Center

    Represented a family with substantial real estate holdings in the sale of Del Amo Fashion Center, the second largest regional mall in the country.

  • Nathan Katz Realty LLC/Multifamily Portfolio Sale

    Represented Nathan Katz Realty LLC in the sale of 32 rent-controlled and rent-stabilized apartment buildings in Queens, NY for approximately $277.5 million.

  • Lyme Properties/Sale of BioMed Realty Trust

    Represented Lyme Properties, a subsidiary of the Lyme Timber Company, in its sale of a portfolio of life science/biomed properties for $401 million plus $130 million in assumed debt.

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Financings

  • Paramount Group, Inc.

    Represented Paramount Group, Inc. in the issuance of mezzanine financing secured by interests in 44 Wall Street, a 289,000-square-foot, 23-story office building owned by The Blackstone Group

  • Meadow Partners

    Represented Meadow Partners as the majority investor in the Tribeca Associates-led hotel development project in connection with securing $86 million of mortgage and mezzanine construction financing.  The hotel will be one of the first New York locations for Marriott’s new Moxy branded hotel chain.

  • GSO Capital Partners

    Represented GSO Capital Partners, one of the largest credit-focused alternative asset managers in the world and a lending affiliate of The Blackstone Group, together with NewStar Capital, in connection with a term loan facility, a portion of which was loaned in Euros, to finance the acquisition of Akcros Holdings Limited (UK) and its U.S., UK and other foreign subsidiaries by Polymer Additives, an H.I.G. Capital portfolio company. We also advised GSO Capital Partners as the leader of the arrangement of a $550 million second lien secured term loan facility to finance, in part, the acquisition of Belk, Inc. by private equity sponsor Sycamore Partners.

  • Colony Capital

    Represented Colony Capital, Inc. in connection with multiple loans secured by 13 light industrial properties consisting of approximately 2.8 million square feet located in Texas, Pennsylvania, Maryland and New Jersey. We also represented Colony Capital in the acquisition of a $133 million mortgage loan secured by a 43-acre Class A corporate office campus location in Purchase, New York, and a mortgage financing secured by a portfolio of 25 industrial facilities.

  • Hudson’s Bay Company

    Represented Hudson’s Bay Company in a $400 million mortgage refinancing of the Lord & Taylor flagship property in New York City. 

  • WP Glimcher

    Represented WP Glimcher, a premier retail real estate investment trust (REIT) specializing in the ownership, management and development of shopping centers, in a new 5-year, $500 million term loan. The company used the proceeds to fully repay the remainder of its outstanding bridge loan that was used to finance its acquisition of Glimcher Realty Trust and for other general corporate purposes. 

  • Hudson’s Bay Company

    Represented Hudson’s Bay Company in a $1.25 billion CMBS financing deal secured by its flagship Saks Fifth Avenue store property in New York City. The mortgage loan is based upon an assessed value that is significantly more than HBC paid for its entire Saks & Co. portfolio in 2013, and proceeds from the loan will be used in part to fund a renovation of the Saks flagship. 

  • Paramount Group, Inc.

    Represented Paramount Group, Inc. in its $2.6 billion initial public offering, the largest REIT initial public offering in U.S. history.  Willkie’s multidisciplinary team acted as co-lead advisor to Paramount in the offering and related credit facility. Willkie also acted as lead counsel to the Otto family, the principal owners of Paramount taking the company public.

  • Faena Group/Access Industries

    Represented Faena Group and Access Industries in connection with their development of the Faena District, a new Miami Beach neighborhood intended to include a five-star luxury hotel, world-class residences and cultural components.

  • Goldman, Sachs & Co.

    We represented Goldman, Sachs & Co. and its affiliates in connection with the following transactions:

    • Refinancing by Goldman Sachs Mortgage Company funded by $1.85 billion of first mortgage and mezzanine loans secured by a portfolio of hotels located in Hawaii and San Francisco owned by Kyo-ya Hotels & Resorts, LP and Kokusai Kogyo Holdings K.K.
    • Acquisition, restructuring and partial syndication of a $180 million mortgage loan secured by the YOTEL New York hotel, a newly-constructed luxury hotel west of Times Square. 
    • Sale of mortgage loan participation interests in the mortgage loan secured by the YOTEL New York hotel as well as the sale of senior and junior mezzanine loans secured by the equity interests of the indirect owners of the YOTEL New York hotel.
    • Furnishing $1.67 billion in aggregate financing commitments made by Goldman Sachs Credit Partners, L.P. and Deutsche Bank Cayman Islands Branch to Host Marriott Corporation in connection with Host’s agreement to acquire 38 luxury hotels from Starwood Hotels and Resorts.
    • The proposed origination of more than $1 billion through mortgage and mezzanine financings secured by a portfolio of resort hotels on the Pacific rim.
    • Mini-permanent financing of the Sands Expo Convention Center in Las Vegas.
    • Take-out refinancing of a construction loan for a regional mall constructed as part of The Venetian Resort in Las Vegas.
    • Permanent mortgage financings for affiliates of Vornado Realty Trust and Crescent Real Estate Equities Company.
  • DiamondRock Hospitality Company

    Represented DiamondRock in the modification of its mortgage loan financing with respect to the Lexington Hotel in midtown Manhattan. We also advised DiamondRock in the amendment and restatement of its revolving credit facility and a simultaneous new term loan facility.

  • Property Markets Group, Inc.

    Represented Property Markets Group, Inc. in the construction financing for PMG’s development of a 44-story high-rise luxury residential tower to be located at 23-10 Queens Plaza South, Long Island City, New York, including a $148 million construction loan from Deutsche Bank and approximately $40 million in mezzanine financing from Northstar Realty Finance, as well as helping to structure the equity positions of PMG and its capital partners.

  • Sunrise Senior Living, Inc.

    Represented Sunrise Senior Living in connection with three separate construction loans with multiple lenders, which will be used to finance construction of new facilities in Torrance, California, Burlingame, California and Dublin, Ohio.

  • Colony Financial, Inc.

    Representing Colony Financial, Inc. in connection with the origination of the $108 million financing of a new Conrad Hilton hotel development in downtown Chicago.

  • Lehman Brothers

    We have represented Lehman Brothers and its affiliates in connection with a number of financing matters, including:

    • Origination of mortgage and mezzanine loans and preferred equity investments with respect to asset classes as varied as data centers, luxury golf-course developments and urban residential condominium projects.
    • Restructuring of various debt and equity relationships with a major private developer and owner of an office building portfolio in the southeastern United States.
    • Marketing and potential sale of REO assets acquired by Lehman.
  • Bank of America/Host Hotels & Resorts

    Advised Bank of America, N.A. as Administrative Agent and Wells Fargo Bank, National Association, as Joint Lender Arranger, in closing a $1.5 billion amended and restated credit facility to Host Hotels & Resorts, L.P.  Willkie previously advised Bank of America in connection with the original $1 billion multi-borrower, multi-currency revolving credit facility to Host.  The amended and restated credit facility adds a new $500 million term loan tranche to the existing $1 billion revolving facility.

  • Citigroup/Bid for Extended Stay Hotels

    Represented a partnership of Citigroup and Goldman Sachs in furnishing $2.2 billion in aggregate financing commitments for the bid to acquire Extended Stay Hotels by affiliates of Starwood, TPG and Five Mile Capital Partners.

  • J.P. Morgan

    Represented J.P. Morgan in connection with mortgage financings made to two Dow 30 companies.

  • Deutsche Bank Americas and Wells Fargo Bank/Refinancing of Property Portfolio

    Represented Deutsche Bank Americas and Wells Fargo Bank in connection with its $325 million refinancing of Castle & Cooke, Inc.’s property portfolio located in Hawaii, Arizona, and California.

  • Deutsche Bank AG New York Branch/Host Hotels

    Represented Deutsche Bank AG New York Branch, as administrative agent, in connection with the revolving credit facility for Host Hotels & Resorts, L.P.

  • Colony Financial Inc./Cipriani Mortgage Loan

    Represented Colony Financial in connection with a mortgage loan made to entities controlled by the Cipriani Family. The loan is secured by two premier Cipriani event spaces, Cipriani Wall Street and Cipriani 42nd Street, located in New York City.

  • Centerbridge Partners, TPG Opportunities Partners and Fidelity Investments/Kerzner International

    Represented Centerbridge, TPG and Fidelity in connection with the restructuring and refinancing of resort operator Kerzner International Limited.  As part of the restructuring, Willkie's clients funded a new loan to Kerzner and received a 15% ownership interest in the company.

  • Centerbridge Capital Partners, L.P./ Acquisition of GMAC’s Resort Finance Business

    Represented Centerbridge Capital Partners, L.P. and its related entities in the acquisition of the resort finance business of GMAC Commercial Finance LLC, a subsidiary of Ally Financial Inc.  The acquired business consists primarily of a $1 billion portfolio of loans related to timeshare resorts throughout North America.

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Joint Ventures

  • Washington Prime Group/O’Connor Mall Partners

    Represented Washington Prime Group in its agreement providing for a joint venture with O’Connor Mall Partners, L.P. owning seven of Washington Prime’s open-air properties, which are valued at approximately $600 million.

  • The Generation Companies

    Represented The Generation Companies in its $215 million recapitalization and roll-up of four portfolios comprising 23 hotels, consolidating them into one portfolio with its new joint venture partner, a fund controlled by StepStone Real Estate Group. 

  • Hudson’s Bay Company/HBS Global Properties

    Represented Hudson’s Bay Company, owner of Saks Fifth Avenue and other leading department stores, in the sales of $533 million and $50 million of its equity in HBS Global Properties, HBC’s real estate joint venture with Simon Property Group.

  • Meadow Partners

    We represented Meadow Partners in a joint-venture acquisition and development project with developer Slate Property Group. The joint venture acquired the properties, located on the corner of Flatbush Avenue and Fulton Street in Brooklyn, New York, and will develop them into a 172,000 square foot mixed-use project. 

  • Monarch Alternative Capital

    Represented Monarch Alternative Capital in connection with the following:

    • Formation of a 50/50 joint venture to purchase, remediate and develop approximately 15 acres of waterfront property in historic southeast Boston, Massachusetts.
    • Formation of a joint venture with a local developer to purchase and redevelop certain real property located on a resort near San Juan, Puerto Rico.
    • A joint venture investment in a multi-tenant office building in Norwood, Massachusetts. 
  • H.I.G. Realty Partners

    Represented H.I.G. Realty Partners and privately held, New York-based real estate company Urban Muse in the joint venture acquisition of a downtown NYC property for $52 million, including negotiating an approximately $68 million construction loan and approximately $24 million in mezzanine financing.

  • Hudson’s Bay Company

    Represented Hudson’s Bay Company, owner of Saks Fifth Avenue and other leading department stores, in an agreement to form a real estate-focused joint venture with Simon Property Group, valued at $1.8 billion. 

  • Jiaming Investment (Group) Co., Ltd.

    Represented Jiaming Investment (Group) Co., Ltd. in a $120 million initial investment in a joint-venture led by Tishman Speyer for the development of a 2.9 million square foot commercial building located in Manhattan’s Hudson Yards district. The building is anticipated to be the largest in the burgeoning development district. 

  • Sunrise Senior Living, Inc.

    We represented Sunrise Senior Living, Inc. and its affiliates in connection with the following:

    • Formation of a joint venture with CHT Partners, a subsidiary of CNL Healthcare Trust, Inc., to which Sunrise transferred seven consolidated senior living communities (consisting of 687 units), valuing the joint venture at approximately $226 million.
    • Negotiated the purchase and sale agreement for the buyout of its partners’ entire 90% direct and indirect equity interest in a joint venture that owns a portfolio of 17 senior care facilities located throughout the United Kingdom, and the extension and modification of the joint venture’s existing £400 million mortgage financing with the Bank of Scotland PLC.
    • Negotiating a conditional purchase and sale agreement for the buyout of partner HVP Sun Investor, LLC (Heitman) entire  80 percent interest in a joint venture which indirectly owns a portfolio of 4 senior living facilities for a purchase price calculated based on an overall enterprise valuation of $141 million.
    • $45 million buyout of partner Morgan Stanley’s entire 80 percent interest in a joint venture which indirectly owns 15 Sunrise-managed assisted living facilities, and the extension and modification of the joint venture’s existing $370.5 million loan from HSH Nordbank AG.
    • Formation of a joint venture with a subsidiary of CNL Lifestyle Properties, Inc.  As part of the transaction, Sunrise contributed to the joint venture its entire interest in another joint venture between Sunrise and an affiliate of Arcapita, its partner in 29 Sunrise-managed communities, and Arcapita sold its entire joint venture interest to the newly formed Sunrise/CNL joint venture.
  • Paramount Group, Inc.

    We represented Paramount Group and its affiliates in connection with the following:

    • Negotiation of a joint venture with a prominent Israeli insurance company and negotiation of a co-investment with the PA State Employees Retirement System, in connection with Paramount’s acquisition of 50 Beale Street, a Class A office building located in San Francisco.
    • The creation of a joint venture and $588 million sale of  49% interest in San Francisco’s One Market Plaza to Blackstone.
    • Formation of a joint venture with a major European insurance company for the acquisition of 1301 Avenue of the Americas.
    • Formation of a joint venture with the Principal Financial Group for the acquisition of 1540 Broadway. 
    • Recapitalization of a 49 percent interest in 1633 Broadway with incoming replacement partners who are affiliates of Beacon Capital Partners, LLC and Paramount Group Real Estate Fund IV, thereby increasing Paramount’s equity in the property to 75 percent. The transaction also included SL Green Realty Corp.’s acquisition of a preferred equity interest in the property.
  • Paramount Group, Inc. and Colony Capital LLC

    Represented Paramount and Colony in the formation of a joint venture for purposes of making a $125 million preferred equity investment in connection with the acquisition of One Court Square, a 1.5 million square-foot, 50-story office property located in Long Island City, New York.

  • Colony Financial, Inc.

    Represented Colony Financial, Inc. in a joint venture to acquire a majority interest in an approximately $250 million recourse multi-property mortgage loan to Exclusive Resorts.  The loan is secured by 269 luxury residential properties located at 26 resorts in the United States and various international destinations.

  • Non-Debtor Affiliates of Lehman Brothers

    We represented non-debtor affiliates of Lehman Brothers in connection with the following:

    • The complex restructuring of an existing joint venture relationship with Goldman Sachs in connection with a recapitalization of a portfolio of multi-family residential properties in the Southeast United States. The transaction also involved the closing of a new $181,500,000 mortgage financing with Freddie Mac, and an equity conversion and partial pay-down of $332,000,000 of existing mortgage indebtedness.
    • A joint venture with real estate developer Flank Inc. for the acquisition of an apartment building in the West Village section of Manhattan.  The venture intends to renovate and convert the building into a multi-unit residential condominium. 
  • A Preeminent Investment Firm

    We represented a preeminent investment firm and its affiliates in connection with the following:

    • Joint venture to acquire the 200 residence Trump Hollywood condominium in Hollywood Beach, FL.  The interests in the property were acquired by a purchase and subsequent foreclosure of the then existing secured financing for a purchase price of approximately $151 million.
    • Joint venture with an affiliate of Rosemont Realty to acquire two office buildings located in Dallas for $80 million.
    • Joint venture with an affiliate of Fortune International to acquire vacant waterfront property in Sunny Isles Beach, Florida, in contemplation of the future development of a luxury high-rise residential complex.
    • Joint venture with SunCal for the construction of base facilities for the United States Army in Northern California and the development of master planned communities featuring residential neighborhoods, parks, open space areas and commercial uses.
  • The Mills Corporation

    We represented The Mills Corporation and its affiliates in connection with the following:

    • Joint venture with affiliates of Ivanhoe Cambridge for the acquisition of St. Enoch Centre in Glasgow, Scotland, for $525.5 million.
    • Sale of joint venture interests in Ontario Mills to a commingled fund advised by JPMorgan Fleming for approximately $243 million.
  • Scout Real Estate Capital

    Represented Scout in a joint venture with an affiliate of ING Clarion Partners for the acquisition and renovation of the Sea Crest Resort and Conference Center located in Cape Cod, MA.

  • Saphyr Fundo de Investimento em Participações Hemisferio Sul Investimentos (HSI)

    Represented São Paulo, Brazil-headquartered investment fund Saphyr in its multi-property joint venture arrangement with HSI, to be managed by Saphyr president Paulo Stewart, for purchasing, developing and managing large-scale shopping malls throughout Brazil.

  • GEM Realty

    Represented GEM Realty in the formation of a joint venture with an affiliate of Metropolis LP to acquire the commercial condominium interest in the Mandarin Oriental Hotel in San Francisco, California.

  • Apollo Real Estate Advisors

    Represented Apollo Real Estate Advisors in modifying  its joint venture arrangement respecting the development of 1111 Marcus Avenue located in Long Island, NY.

  • Joint Venture for Acquisition of 650 Madison Avenue

    Represented a private real estate investment firm in its joint venture with Carlyle Realty for the acquisition and financing of 650 Madison Avenue and its recapitalization of a hotel located in Times Square.

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Leasing and Development

  • One Flatbush

    Represented Meadow Partners in a joint-venture acquisition and development project with developer Slate Property Group. The joint venture acquired the properties, located at One Flatbush on the corner of Flatbush Avenue and Fulton Street in Brooklyn, New York, and will develop them into an approximately 170,000 square foot mixed-use project. Represented the joint venture partners in securing a $110 million loan to develop the project at One Flatbush.

  • Hudson’s Bay Company/Saks OFF 5TH/Tower57

    Represented Hudson’s Bay Company (HBC) in connection with Saks OFF 5TH’s lease of 47,333 square feet in Manhattan’s Tower57, which will house the first Saks OFF 5TH in New York City.

  • St. John’s University/Relocation of Manhattan Campus

    Represented at John’s University in its lease for 71,000 square-feet of space at 51 Astor Place, a new, Edward J. Minskoff, 12-story, 400,000-square-foot office building.

  • Bloomberg L.P./ Headquarters and Related Projects

    Represented Bloomberg LP on the following leasing and development work:

    • Development of The Bloomberg – JFK Airport Park Solar Project, a state-of-the-art solar project that will enable Bloomberg's global headquarters in midtown Manhattan and its downtown data center to partially convert to clean solar energy.
    • Lease of 700,000 square feet of office space for world headquarters at 731 Lexington Avenue in New York City, and the subsequent consolidation and extension of space.
    • Expansion of Bloomberg’s footprint at 919 Third Avenue by approximately 200,000 additional square feet.
    • Lease of 400,000 square feet of additional office space at 120 Park Avenue in New York City.
    • Acquisition of a site in the City of London financial district for the construction of the client’s European headquarters. Two buildings will be constructed: a larger one of more than 500,000 square feet that will serve as the headquarters, and the other being a “speculative” office building development.
    • Significant office leases in Los Angeles and San Francisco.
    • Lease of a single-story data center facility of approximately 131,805 square feet of gross floor area located in Orangetown, New York.
  • St. Ann’s Warehouse

    Represented St. Ann’s Warehouse with respect to the redevelopment and restoration of a historic tobacco warehouse located in Brooklyn Bridge Park, creating a performing arts facility and community cultural center.

  • Morgan Stanley Real Estate Advisors

    Represented and continue to represent Morgan Stanley in negotiating office and retail leases with tenants at various buildings owned by Morgan Stanley in New York City, including 2 Park Avenue, 500 Park Avenue and 1285 Avenue of the Americas.

  • Commercial Bank Office Lease

    In April 2012 we represented a major commercial bank in connection with a lease of almost 500,000 square feet of office space in midtown Manhattan.

  • Development of Headquarters Facilities

    Willkie has been engaged separately by a large commercial bank and one of the nation’s largest hedge funds to represent them in connection with their exploration of the development of new state of the art headquarters facilities.

  • Lehman Brothers/Lease at 1271 Avenue of the Americas

    Represented Lehman Brothers in its leasing and subleasing of approximately 430,000 square feet of office and ancillary space at 1271 Avenue of the Americas (The Time-Life Building).

  • CIBC World Markets/300 Madison Avenue

    Represented CIBC World Markets in negotiating its triple net lease of the entire 30 story, 1.2 million square foot building located at 300 Madison Avenue, from Brookfield Properties.

  • Brookfield Properties & CIBC World Markets/300 Madison Avenue

    Represented a joint venture between Brookfield Properties and CIBC World Markets in connection with the leasing of 900,000 square feet of space at 300 Madison Avenue to Pricewaterhouse Coopers.

  • McKinsey and Co./Leasing and Development

    Represented McKinsey & Co. in connection with various lease transactions for its offices in the United States and around the globe.  We also advised McKinsey & Co. on certain design and construction matters in connection with the build-out of its various offices.

  • Port Authority of New York and New Jersey/Port Authority Bus Terminal

    Advised the Port Authority of New York and New Jersey in connection with its exploration of a potential transaction that would result in the modernization of the Port Authority’s bus terminal located on Eighth Avenue off Times Square, and the addition of a new first class, environmentally sustainable office and retail complex to the midtown Manhattan skyline.

  • Beacon Capital Partners, LLC/Lease of Hancock Tower

    Represented Beacon in the negotiation of a lease to the publicly traded parent of John Hancock Financial Services, Inc. of 1 million square feet at Boston’s John Hancock Tower. The lease was negotiated as a leaseback arrangement in connection with Beacon’s acquisition of the building.

  • Paramount Group

    Represented Paramount in connection with the following leasing transactions:

    • The negotiation of a lease to Deutsche Bank AG of the entire 47 story, 1.6 million square foot building located at 60 Wall Street. 
    • The negotiation of a lease to Bertelsmann Property, Inc., an affiliate of Bertelsmann, Inc., of almost 400,000 square feet at 1540 Broadway. 
  • 1285 Ave of the Americas/Paul Weiss Lease

    Represented the ownership of 1285 Avenue of the Americas  in connection with law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP's extension of its New York headquarters lease.  The lease covers 19 floors, plus concourse level space in the building.

  • Trinity Church in the City of New York/330 Hudson Development Ground Lease

    Represented Trinity Church in the City of New York in connection with its execution of a 99-year ground lease of 330 Hudson Street.

  • Ruben Companies

    Represented and continue to represent Ruben Companies in connection with the leasing of its office and retail portfolio in New York City.

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Securities Offerings

Issuer Representation:

Paramount Group, Inc.
Represented Paramount Group, Inc. in its $2.3 billion initial public offering, the largest REIT initial public offering in U.S. history. Willkie’s multidisciplinary team acted as co-lead advisor to Paramount in the offering and related credit facility. Willkie also acted as lead counsel to the Otto family, the principal owners of Paramount taking the company public.

CBL & Associates Properties/Equity Securities Offerings
Beginning with its 1993 initial public offering, we have represented CBL & Associates Properties in various public and private issuances of common and preferred equity securities.

Ventas, Inc./Equity and Debt Offerings
Represented and continue to regularly represent Ventas, Inc. in numerous public offerings and Rule 144A offerings of its senior notes, convertible notes and common stock, including:

  • A $600 million offering of senior notes and a $1.13 billion secondary offering of its common stock by Lazard Real Estate Partners.
  • The public offerings of 12,750,000 shares of common stock and $200 million principal amount of 6 1/2% Senior Notes due 2016.
  • The commencement of tender offers to purchase senior notes for up to $310 million.  
  • The offering of $400 million principal amount of 3-1/8% senior notes due 2015 of its wholly owned subsidiaries, Ventas Realty, Limited Partnership and Ventas Capital Corporation.

Simon Property Group/Debt Offerings
Represented Simon in the issuance of $1.075 billion of unsecured debt securities, including $200 million of Mandatory Par Put Remarketed Securities (MOPPRS).

Underwriter Representation:

Strategic Hotels & Resorts, Inc.

  • Represented J.P. Morgan as sole book-running manager in Strategic Hotel & Resorts’ $292.1 million public offering of common stock.
  • Represented the underwriters, led by joint book-running managers J.P. Morgan, Deutsche Bank Securities, BofA Merrill Lynch, and Wells Fargo Securities, in Strategic Hotel & Resorts’ $416.8 million offering of common stock.
  • Represented the underwriters, led by joint book-running managers Deutsche Bank Securities and Raymond James & Associates, Inc., in Strategic Hotel and Resorts’ $114.4 million offering of common shares.
  • Represented the underwriters in Strategic Hotel & Resorts’ $303.6 million public offering of common stock, and the dealer managers in the company’s concurrent tender offer for certain outstanding senior notes.
  • Represented the underwriters in Strategic Hotel & Resorts’ $303.6 million public offering of common stock, and the dealer managers in the company’s concurrent tender offer for certain outstanding senior notes.

Bank of America Merrill Lynch, J.P. Morgan and RBC Capital Markets
Represented BofA Merrill Lynch, J.P. Morgan and RBC as the book-running underwriters in Brookdale Senior Living’s public offering of an aggregate $316.25 million ($275 million initial issuance and $41.25 million greenshoe) of 2.75% Convertible Senior Notes due 2018.

Goldman Sachs & Co./REIT Transactions
Represented Goldman Sachs, as underwriter, in several REIT securities transactions, including:

  • Initial public offerings by Strategic Hotel Capital, Inc. and Entertainment Properties Trust.
  • Public debt and equity offerings by Spieker Properties, an office and industrial REIT.
  • A debt issuance by a special purpose subsidiary of TrizecHahn Corporation.
  • An initial public offering, follow-on offering and secondary offering by Brookdale Senior Living Inc.  
  • A proposed initial public offering of Verde Realty, a multifamily and industrial REIT.

Merrill Lynch & Co. 
Represented the underwriters – led by Barclays Capital Inc., Merrill Lynch & Co. and Goldman, Sachs & Co. – in connection with a $150 million initial public offering of Brookdale Senior Living Inc., as well as Merrill Lynch & Co. as the sole underwriter with respect to a subsequent sales of Brookdale’s common stock by certain funds managed by affiliates of Fortress Investment Group LLC.

Prudential Securities/Columbus Realty Trust
Represented Prudential Securities, as underwriter, in a follow-on offering by Columbus Realty Trust.

Lehman Brothers/Boykin Hotel Properties
Represented Lehman Brothers, as underwriter, in an initial public offering and follow-on offering by Boykin Hotel Properties.

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Restructurings and Workouts

Willkie is recognized internationally as having one of the world’s preeminent business reorganization and restructuring advisory practices, with established expertise in all aspects of business and financial restructurings.  Representative real estate restructurings include the following:

Restructurings and Workouts

Creditor/Lender/Investor Representation:

Goff Capital
Represented Goff Capital and the mortgage lenders in the $120 million loan workout with Atrium Finance, the owner-borrowers of a ten hotel property portfolio in the United States.  The negotiated workout successfully concluded with the long-term extension of the loan and an expanded collateral package in favor of the lenders.

Citigroup

  • Represented Citigroup in connection with the review and analysis of various troubled commercial real estate loans, and advised on potential restructuring options and workout possibilities with numerous borrowers, including with respect to its position in the $6.5 billion CMBS and mezzanine loan to Caesar’s (formerly known as Harrah’s). 
  • Represented Citigroup in the Extended Stay portfolio auction in connection with its publicly announced mortgage loan commitment to the consortium led by Starwood Capital.
  • Represented Citigroup in connection with the workout of loans on a major mall in the United States.

Lehman Brothers

  • Represented a non-debtor affiliate of Lehman Brothers Holdings Inc. in a complex three-part restructuring of a portfolio of multi-family residential properties in the Southeast United States. The transaction involved the restructuring of Lehman's existing joint venture relationship with Goldman Sachs, the closing of a new $181,500,000 mortgage financing with Freddie Mac, and an equity conversion and partial pay-down of $332,000,000 of existing mortgage indebtedness held by a consortium of lenders including GE Capital. 
  • Represented affiliates of Lehman Brothers in connection with the potential restructuring of their investments in joint ventures formed for purposes of developing luxury residential condominiums in Manhattan.  
  • Advised Lehman Brothers in connection with issues relating to loans for a condominium project in Downtown Manhattan. 

Centerbridge Partners, TPG Opportunities Partners and Fidelity Investments 
Represented Centerbridge Partners, TPG Opportunities Partners and Fidelity Investments in a year-long multinational restructuring of resort operator Kerzner International Limited.  As part of the restructuring, Willkie's clients funded a new loan to Kerzner and received a 15% ownership interest in the company.

Ventas Inc.
Represented Ventas in the restructuring of a triple-net master lease relating to a large portfolio of healthcare facilities. 

One Madison Avenue Receiver
Represented the receiver appointed for One Madison Avenue in New York, a troubled luxury residential condominium development.

Trinity Church
Represented Trinity Church in connection with its workout and settlement negotiations, as well as litigation (including a major Yellowstone motion victory for Willkie), regarding a major mixed-used development ground lease project located in downtown Manhattan.

Appaloosa
Advised Appaloosa Management, one of the country's preeminent distressed investment funds, in connection with a number of its structured real estate debt investments. 

Debtor/Borrower Representation:

Xanadu/Meadowlands
Represented a consortium of major private equity funds in connection with the restructuring of its senior mortgage debt relating to the construction of the Meadowlands Xanadu shopping and entertainment center.

Colony Capital, LLC
Represented Colony in the restructuring of certain of its gaming investments, and in connection with a deed-in-lieu of foreclosure transaction with respect to an Atlantic City property. 

Sunrise Senior Living, Inc.
Represented Sunrise in the restructuring of certain of its loan agreements and joint venture arrangements including  the restructuring of its equity and debt position in a portfolio of six Sunrise-managed senior living facilities. As part of the transaction, Sunrise and its previous capital partner in the portfolio, Metropolitan Connecticut Properties Ventures, LLC, a subsidiary of MetLife, transferred their respective equity interests in the portfolio to a new joint venture owned 30% by Sunrise and 70% by CNL Income SL II Holding, LLC, a subsidiary of CNL Lifestyle Properties.

Empire American Holdings LLC.
Represented Empire American with its contemporaneous restructuring of a $715 million mortgage loan into A/B notes secured by multifamily properties located throughout the U.S., and a $91 million joint venture between Empire and Arbor Realty Funding, LLC.

Private Land Developer
Represented one of the largest private land development and homebuilding enterprises in the United States in connection with its restructuring of approximately $1.7 billion of existing debt arrangements with more than 20 different lenders.

Scout Real Estate Capital
Represented Scout in connection with the restructuring of multiple existing loan arrangements and the enforcement of certain of these arrangements with a distressed lender.

200 Eleventh Avenue
Represented a joint venture of Young Woo and Urban Muse LLC in connection with the restructuring of its senior mortgage and mezzanine construction loans with respect to 200 Eleventh Avenue, a high-end residential condominium development project in Manhattan’s Chelsea. 

Private New York-Based Real Estate Fund Operator
Represented a private real estate company and funds controlled by that company in connection with multiple loan and limited partner equity restructurings, as well as assisting in connection with new offerings being conducted by related funds. 

Private Condo Developer
Represented a private developer in connection with the negotiation and closing of a deed-in-lieu of foreclosure transaction with its lender relating to a condominium project in Connecticut.

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