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Real Estate Finance
Katten Muchin Rosenman LLP has one of the nation’s foremost real estate finance practices, both in terms of the size of the practice and the complexity of transactions. Our attorneys realize our clients’ business goals through creativity, experience and dedication in a variety of different areas of real estate finance.
Increasingly, financing structures have become much more complicated, with multiple classes of debt and equity that need to be harmonized. Even financing transactions that are not sold in the capital markets are influenced by requirements imposed by rating agencies. The real estate financing attorneys at Katten are accustomed to dealing with these complexities and creatively orchestrating the best outcome for our clients.
Our transactional real estate attorneys work closely with the firm’s Commercial Finance, Tax, Corporate, and Real Estate Litigation Practices in representing a broad cross-section of lenders, borrowers and other parties in traditional and nontraditional financing.
By having extensive experience in representing both borrowers and lenders in financing transactions, Katten attorneys possess the well-rounded combination of legal and business experience that allows us to focus on the substantive legal and economic issues in a transaction. Our goal is achieving a cost-efficient and timely closing while preserving our clients’ substantive legal rights and intended economic returns.
Professionals
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Chicago
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Washington, D.C.
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Charlotte
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Chicago
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New York
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New York
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Charlotte
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Chicago
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New York
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Irving
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Charlotte
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Chicago
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Washington, D.C.
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New York
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New York
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Chicago
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Chicago
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Los Angeles
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AIG Global Real Estate and affiliate insurance companies: Loans to the Kushner Companies regarding multi-family properties in New Jersey and Pennsylvania:
7 mortgage loans for an aggregate of $247.25 million and 3 mezzanine loans for an aggregate of $20 million.
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American International Life Insurance Company of New York and AIG Life Insurance Company: $200 million unsecured financing for BlackRock Granite Property Fund, L.P.,
a new REIT sponsored by BlackRock pursuant to the transfer of assets from a real estate separate account of Metropolitan Life Insurance Company.
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Eurohypo AG: Administrative agent (lead lender) on $5 billion syndicated senior and subordinate credit lines to General Growth.
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Fifield Development Company: Formation of its second real estate investment fund and as developer's counsel in connection with the acquisition, financing and development of in excess of $1 billion
of luxury high rise apartment and condominium projects throughout the United States. This work includes the structure, drafting and negotiation of complex construction and mezzanine loan documents and joint venture agreements with institutional lenders and investors.
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General Electric Capital Corporation: Multiple golf course financings, including portfolio acquisitions. Also represented client in two acquisitions of subordinate debt in CMBS financings of golf courses.
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German Bank: $225 million construction loan for a Montage Hotel in Beverly Hills, California.
The transaction involved extensive negotiation with the City of Beverly Hills, which retains an interest in a portion of the site, on which public improvements will be built.
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HSH Nordbank, AG, New York Branch: $130 million first mortgage construction loan made to AB Green Gansevoort, LLC, a joint venture of HotelsAB – Andre Balazs, Greenfield Hotels LLC
and Dune Real Estate Fund LP for the construction of a 343 room hotel to be located in New York City’s “Meatpacking District.” The hotel will have “The Standard” brand designation, will be managed by Hotels AB and Andre Balazs, and will have facilities and amenities commensurate with a Mobil four-star designation.
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iStar Financial Inc.: $425 million multi-phase financing enabling the privatization of a public company and providing long-term expansion capital for developing a portfolio of 40 new properties.
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LaSalle Bank National Association: Securitization of a $1.694 billion commercial mortgage loan pool consisting of 198 mortgage loans as part of a $4.904 billion commercial mortgage loan pool securitization;
securitization of a $1.184 billion commercial mortgage loan pool consisting of 146 mortgage loans as a part of a $2.730 billion commercial mortgage loan pool securitization; and its securitization of a $687 million commercial mortgage loan pool consisting of 84 commercial mortgage loans as part of a $3.9 billion commercial loan pool. Also, representation in numerous construction loans for commercial properties throughout the United States.
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Merrill Lynch Capital: Numerous mortgage loan and mezzanine financings of real estate assets across the country as well as various loan modifications and workouts of such financings.
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Oversea-Chinese Banking Corporation Limited, New York Agency: $90 million first mortgage construction and working capital loan to four affiliates of Orient Express Hotels.
The loan will be used to provide working capital financing for The 21 Club Restaurant in New York City, the Inn at Perry Cabin Hotel in Virginia, the Keswick Hall hotel and club in Maryland and the El Encanto Hotel in Santa Barbara, California. The loan will also provide construction financing for renovations at the El Encanto Hotel.
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Starwood Capital Group: Numerous financing activities, including the structuring and financing of Starwood’s acquisition of Westin Hotels;
numerous mezzanine financing transactions, including various subordinated financings relating to the Boca Raton Hotel and Club in Florida, Princess Hotel chain and a convertible mezzanine facility to a REIT. Katten also represents Starwood in the structuring, formation and documentation of its investment funds, which have raised approximately $1,600,000,000 in the past decade, along with Starwood’s investment fund in connection with the formation of, and contribution of, assets to Starwood Financial Trust, a publicly-traded mortgage real estate investment trust.
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Starwood Financial Trust: Numerous financings of real estate assets; and the purchase of mezzanine loan assets and preferred equity investment from a wall street investment banking firm.
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The Rouse Company: $240 million refinancing of Oak Brook Shopping Center.
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WestLB AG: Refinancing of the LaSamanna Hotel on the French side of St. Martin and the construction financing for Villas on the Dutch side of St. Martin.
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Wrightwood Capital: Numerous mortgage loan and mezzanine financings of real estate assets across the country.
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