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February 07, 2017
Cadwalader was counsel to Deutsche Bank AG, New York Branch as lender in making a $780 million mortgage loan and $220 million mezzanine loan in connection with the $1.9 billion acquisition of 787 Seventh Avenue, a 1.7 million-square-foot office tower located in Midtown Manhattan, known as the AXA Equitable Center. The transaction was recently cited by Law360 as one of the most significant real estate transactions of 2016.
The property, 787 Seventh Avenue, is considered an iconic New York commercial center. It is home to world-renowned restaurants including Le Bernardin and features a soaring atrium lobby that showcases monumental artwork by Roy Lichtenstein.
The Cadwalader team included William McInerney, Bonnie Neuman and Matthew McManus, with support from Peter Dodson, Kathryn Borgeson and Alex Strom.