REPRESENTATIVE TRANSACTIONS & ASSIGNMENTS
Restructuring and Asset Management
-- Advisor to lender re the sale or restructuring of its $16MM mezzanine loan on a Class A 370,000 sq. ft. office property located in suburban Detroit, MI (current)
-- Effected forbearance agreement with $250MM mortgagee and negotiated a 360,000 sq. ft. long term lease with regional bank new anchor tenant of Pittsburgh, PA office tower, stabilizing occupancy and cash flow of this previously distressed property and facilitating profitable sale of client’s interest therein (closed)
--Directed bankruptcy reorganization, asset repositioning, 100% retenanting and resale of an office building in San Francisco Bay Area of California, more than doubling its previously estimated realizable value (closed)
--Consulting related to the repositioning and sale of a vacant Class C office building in downtown Manhattan to a single non-profit user, producing $10 million profit in soft 9/11 market (closed)
--Advisor to creditor’s committee in a bankruptcy proceeding concerning a portfolio of over 1,000 self storage facilities located throughout the U.S. Canada (reorganization plan confirmed by court)
--Restructured and extended a 500,000 square foot anchor tenant office lease with a prominent bank in Atlanta, forestalling foreclosure action (lease executed)
--Successfully executed complex litigation strategy (including trial testimony) on behalf of owner of 700,000 sq. ft. office complex in Stamford, CT effectively converting a high-rate $200 million wrap mortgage into a true cash flow obligation, forestalling foreclosure and deferring onerous income tax consequences for investors
Advisory/ Consulting
--Advisor to owner of a prominent midtown Manhattan property re the restructuring of its leased fee land interest to enhance client’s liquidity and reduce its market and litigation risk (current)
--Advisor to NYC Economic Development Corp. to develop a plan to monetize and/or restructure suitable ground lease and operating property interests of the City of New York, as well as identify, structure and negotiate new investment opportunities (current)
--Advisor to not for profit property owner re redevelopment of its northern Manhattan facility for lease to third party pre-school operators and its own expansion (current)
--Advisor to owner of commercial property in midtown Manhattan re a proposal from developer seeking to acquire said property as part of assemblage ($31 million sale closed -2008)
--Evaluation and financial analysis of alternative long-term lease options re a 75,000 sq. ft. operations center in Raleigh, NC for not-for-profit tenant (site selected and lease signed -2007)
--Advisor to ground lessor re midtown Manhattan property and the potential $30 million sale of its transferable development rights (2007-2008)
--Creation and development of financial models to facilitate a $50 million refinancing of three (3) office buildings in Nassau County, New York (closed 2006)
--Capital structuring and feasibility analysis of proposed conference center hotel and golf course on a 300-acre site in Westchester County, NY
--Developed alternative proposals and cost-benefit analyses to restructure onerous ground lease position between related parties concerning a 180,000 sq. ft. industrial property in Stamford, CT
New Investments
--Underwriting $120 million senior and mezzanine loan financing for Lehman Brothers of new residential condominium tower in Seattle, WA (closed 2007)
--Underwriting $60 million mezzanine loan financings for Lehman Brothers of new office buildings in midtown Manhattan, Houston, TX and San Jose, CA (closed)
--Structuring, negotiating and underwriting proposed joint venture, f/b/o preferred equity partner, to acquire and convert 300-unit apartment project to condominiums in Richmond, VA (closed)
--Advisor to private investor re the identification, underwriting, acquisition and financing of replacement properties to satisfy a $50 million 1031 Exchange requirement (Walgreen net lease portfolio reinvestment closed-2008)
-- Negotiated a joint venture agreement for the acquisition and development of a $90 million office tower in Phoenix, AZ for a foreign institution, including structuring a 300,000 square foot lease with a Fortune 500 company anchor tenant (closed)
--Originating, structuring, and negotiating a joint venture (operating) agreement with a local developer concerning custom home building on North Shore of Long Island for private investor group
--Structuring and underwriting potential acquisition of a $75 million portfolio of rent regulated apartments in New York City on behalf of Lehman Brothers (2007)
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