Cadwalader Advises Lenders in $3 Billion CMBS Refinancing of One Vanderbilt

June 29, 2021

Cadwalader advised Wells Fargo and Goldman Sachs as co-lenders in a $3 billion single-asset/single-borrower securitized refinancing of the newly developed One Vanderbilt skyscraper in Midtown Manhattan, the second-tallest building in New York and a Class A, LEED Gold and Platinum office tower, for a partnership led by SL Green Realty. The transaction is the largest-ever fixed rate CMBS financing secured by a single asset.

Advising Wells Fargo and Goldman Sachs on the origination of the CMBS loan was a team led by Finance partners Holly Chamberlain and Chris Dickson and including special counsel Kevin Sholette and associate Alessandra LaRocca and Financial Restructuring senior counsel Peter Dodson and special counsel Kathryn Borgeson. The Cadwalader team that advised Wells Fargo on the securitization of the CMBS loan was led by Capital Markets partner David Burkholder and included special counsel Michael Ruder and associates Greg Seraydarian and Phil Balzafiore. Capital Markets partners Lisa Pauquette and Greg Prindle also advised Goldman Sachs on the securitization of the CMBS loan.