Paul Hastings Advises Morgan Stanley on Sale of 1375 Broadway to Savanna

December 15, 2010

New York, NY (December 15, 2010) - Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that the firm represented Morgan Stanley in connection with the origination of a $102 million financing, consisting of mortgage and mezzanine debt, made by Morgan Stanley to Savanna, a New York-based real estate private equity firm with investments in $3 billion of real estate in the Northeast and Mid-Atlantic corridor. The loan was used by Savanna to purchase 1375 Broadway in New York City.

Real Estate counsel Rick Allendorf led the Paul Hastings team, which included associate Eric Schwitzer. Savanna signed a term sheet with Morgan Stanley on November 17 and, with the assistance of Paul Hastings, the financing closed three weeks later.

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