Real Estate Finance

Morgan Stanley in connection with the workout of $1.025 billion in aggregate debt secured by 1285 Avenue of the Americas in New York, New York (the UBS Building), which is owned by RXR.

Morgan Stanley, as lead lender of a 13-lender syndicate spanning seven countries, in the workout of more than $1 billion of debt secured by 125 High Street, a Tishman Speyer office tower in Boston, resolved through a negotiated modification and paydown.

First-Citizens Bank & Trust, as lender, in workouts across a portfolio of commercial real estate credits involving office building sales, deed-in-lieu transactions, a refinancing that paid the bank in full and continuing workouts of construction loans for low-income and veterans housing.

Flagstar Bank in connection with the $343 million financing for the acquisition of the Pinnacle Apartment Portfolio and as the secured mortgage lender to 82 borrowers within New York’s Pinnacle Group in their jointly administered Chapter 11 cases involving an 8,100-unit, predominantly rent-stabilized New York City portfolio.

Apollo, as lender, in a deed-in-lieu of foreclosure transaction relating to a newly constructed office building in South San Francisco. The transaction resulted in Apollo acquiring ownership of the property and included the simultaneous release of an existing mezzanine loan.

Greystar in connection with complex senior and junior mezzanine loans totaling more than $600 million, both secured by indirect interests in a nine-property portfolio of Class A, garden-style multifamily communities across the United States.

Greystar, as mezzanine lender, in the refinancing of a multifamily portfolio comprising approximately 2,806 apartment units across six states, representing $533 million in total loan value.

Meadow Partners in a $377 million mortgage and mezzanine construction financing for a 462-unit multifamily development in New York City, including a simultaneous $240 million NAV financing, complex intercreditor arrangements and joint venture structuring.

Rialto Capital in the $315 million mortgage and mezzanine financing of a 10-property industrial portfolio owned by a Blackstone fund.

Morgan Stanley in connection with the origination of a $278 million mortgage loan and a $49 million mezzanine loan secured by a 22-property portfolio of senior living facilities in 16 states for a joint venture between Welltower and Wafra.

Oaktree Capital in the $225 million mezzanine loan behind $1.5 billion of senior debt for Atlantis in the Bahamas.

Barings, as mezzanine lender, and Apollo, as mortgage lender, in the $113 million financing of the Westin Hotel in Indianapolis, Indiana, for a prominent hospitality investor, KSL.

Forum Investment Group in the $67 million mezzanine loan to a student housing developer for a new-build project in Fort Myers, Florida.

Forum Investment Group in connection with a $53 million preferred equity investment in the development of a purpose-built student housing project in Jessup, Maryland.

Affiliates of Starwood Property Trust in connection with the modification of an existing $1.8 billion repurchase facility.

BentallGreenOaks (BGO) in the $890 million workout and recapitalization of a distressed construction loan through a highly structured transaction that repositioned BGO from mezzanine lender to senior lender.

Morgan Stanley in connection with the £500 million master repurchase facility for affiliates of Blackstone Mortgage Trust secured by mortgage loans on properties in the U.S., U.K. and EU.

RBC in the $200 million repurchase facility to a prominent residential mortgage lender, with collateral consisting of residential whole mortgage loans, agency securities and U.S. Treasury securities.

Lionheart Strategic Management in the origination of a $111 million construction loan for a multifamily development in Mineola, New York, and the related $83 million loan-on-loan facility with OakNorth, involving a highly structured, multilayered capital stack.

Capital One in multiple domestic mortgage loan warehouse facilities (ranging from $75 million to $350 million) opposite prominent U.S. debt funds, with collateral consisting of commercial real estate loans.

Morgan Stanley in the $1 billion term loan-on-loan bridge financing facility involving a prominent U.S. debt fund, with collateral consisting of 10 commercial real estate loans.