A “sterling reputation for providing top class advice on intensely complicated deals” - Chambers USA
Commercial real estate finance is a core component of Cadwalader's Real Estate practice. We pioneered many of the legal structures for securitized products that are now the standard world-wide, and we have played a critical role in more than $1 trillion of capital markets transactions. In 2012, working closely with our securitization team, we represented investment and commercial banks in the origination of more than $10 billion in mortgage loans intended for securitization. We represent clients in originating all types of loans, including permanent loans, construction loans, bridge loans, single asset/single borrower securitized loans, participating loans, shared appreciation loans, borrowing base asset loans, subscription facility loans, convertible loans, mezzanine loans, loans backed by credit leases, conduit loans and loans secured by ground leases.
In fact, Cadwalader has served as origination counsel on many of the large scale commercial real estate financings executed since 2010 for clients such as Bank of America, Cantor Commercial Real Estate, Citigroup, Deutsche Bank, HSBC, JPMorgan, Macquarie, RBS, UBS and Wells Fargo. Among our recent projects are the origination of $3.5 billion mortgage and mezzanine loans to refinance the Extended Stay Hotel chain; the origination of the $650 million first mortgage on One Bryant Park in New York; the $1.36 billion financing of the merger and acquisition of Blackstone and Centro; the $1.3 billion financing of the acquisition of the Motel 6 chain; the $950 million mortgage loan to refinance 1290 Avenue of the Americas; the restructurings of Hilton Hotels and Harrah's; the pre-development and acquisition loan secured by the Woolworth Building; a $280 million construction loan for a New York City condominium project; and the $310 million loan secured by 120 Broadway that was a stand-alone securitization. On behalf of our clients, our real estate attorneys negotiate, structure and effectuate both permanent loans and construction loans for office buildings, hotels, shopping centers, industrial facilities, golf courses, apartment buildings, and co-op and condominium complexes.
Our insight and expertise in mortgage finance allows us to provide loan servicers and commercial and investment banks with a thorough consideration of all options and strategies required to manage real estate loans, CMBS, REO properties and commercial real estate portfolios of all sizes. We have extensive knowledge of the issues that arise when servicing CMBS loans and REO. We provide counsel on the full range of issues affecting the restructuring, liquidating and servicing of commercial loans secured by all property types throughout the United States and abroad. We also address rating agency concerns and requirements, and other issues related to multi-tranched CMBS and mezzanine structures.
Cadwalader’s Financial Restructuring group is an integral part of the firm’s legal team when structuring new originations and real estate workouts. The team is also expert on issues related to the single-asset special purpose vehicles that are commonly formed in CMBS mortgage and mezzanine financings, including issues related to potential bankruptcies of such vehicles.