Financing

We act for lenders, borrowers and investors in a wide range of complex real estate financings and investments – construction loans, permanent loans, mortgage financings of all types, development joint ventures, limited liability company and partnership investments, institutional REIT investment funds and public/private partnerships.

Representative Transactions

  • Represented Teachers Insurance and Annuity Association of America (TIAA) in its original $680 million investment for the construction and development of the Mall of America.
  • Represented Aetna Life Insurance Company in financing over 60 shopping centers throughout the United States.
  • Represented Apollo Real Estate Advisors in the negotiation of real estate partnerships in which Apollo real estate funds were the principal investor.
  • Represented a major New York City cultural institution in the negotiation of a $32 million construction loan secured by a mortgage and charitable pledges.
  • American Museum of Natural History – Rose Center for Earth and Space and North Side Project – negotiated government funding contracts and tax-exempt financing.
  • $1.5 billion Lincoln Center campus renovation – negotiated complex funding agreement for New York City capital funds, as well as related operating and licensing agreements.
  • Represented a leading UAE-based real estate developer on two very large real estate developments in Saudi Arabia, including conducting full legal due diligence on legal issues relating to real estate developments in Saudi Arabia including rules on foreign investments, land acquisition, expropriation issues, buildings laws, tenancy and leasing rules, environmental regime, corporate and commercial issues, labor issues and insurance requirements.
  • Advised an Islamic investment bank based in Bahrain on the structuring and private placement of US $40 million shares in an investment vehicle for investments in real estate development projects in Saudi Arabia.
  • Represented the subsidiary of a major Saudi bank on two large real estate financing projects based on a Mudaraba and Ijara structure.
  • Advised an Islamic investment bank on various aspects of Saudi Riyal 4.5 billion private placement for a real estate development company in Saudi Arabia.
  • Advised an Islamic Investment bank on a US $52 million real estate fund, which was the first fund to allow non-Saudis to invest in real estate projects in Saudi Arabia.
  • Advised a Bahrain-based Islamic investment bank on a US $50 million Shari’a compliant real estate fund investing in specific real estate projects in Bahrain.
  • Advised an Islamic investment bank on a mixed use real estate project on the World Project (UAE) including assisting the client in negotiation the contractual agreements with the other partner and drafting and negotiating all of the agreements relating to the project. Represented the client in structuring and drafting the offering documents relating to the introduction of new investors to this project.
  • Advised a UAE based Islamic investment bank on the structuring and negotiation of a real estate project in Dubai Motorcity, UAE.
  • Advised a UAE based Islamic investment bank on two residential real estate development projects in Abu Dhabi.
  • Advised a US fund on the restructuring of its real estate assets in Dubai, UAE and a subsequent private placement to raise more than $140 million of new capital.
  • Advised a regional quasi-governmental real estate company on the establishment of a DIFC holding company for its international real estate projects in relation to the restructuring of the assets and raising more than $700 million in new capital, and a subsequent joint venture with a leading GCC real estate company for the master planning and urban development of an area of waterfront in the UAE in conjunction with the government of an Emirate of the UAE.
  • Represented a leading UAE-based real estate developer on a large real estate residential development in the Eastern Province, Saudi Arabia. Conducted full legal due diligence on legal issues relating to real estate developments in Saudi Arabia, including rules on foreign investments, land acquisition, expropriation issues, building laws, tenancy and leasing rules, environmental regime, corporate and commercial issues, labor issues and insurance requirements.
  • Advised an islamic investment bank in acquiring plots of land in Jebel Ali, UAE in order to develop labor housing. Advised on structuring and finalizing the offering documents to solicit new investors.
  • Represented a major UAE based investment group on a $4.5 billion real estate project in Algiers, Algeria, including assisting the client with the structuring of the project and drafting the offering documents to solicit new investors. Assisted in negotiating the financing documents with the lending banks.
  • LaSalle French Fund II (LaSalle Investment Management): Assisted on the acquisition, through an open bid process, of nine companies and 52 real estate assets sold by RREEF and Deutsche Bank. Our advise covered corporate, financing and real estate due diligence, structuring of the acquisition, cash flow analysis, and drafting and negotiating the sale/purchase and warranty agreements.
  • Represented a group of investment companies from the UAE in real estate projects in Tripoli Marina, Libya worth more than $700 million. Assisted in drafting and negotiating the shareholders’ agreement with the quasi-governmental Libyan partner in the project. Conducted full legal due diligence on legal issues relating to the plot of the project and several rights attached to the plots of land.
  • Represented a Bahrain based Islamic investment bank on a housing project in Oman, including advising the client on all legal aspects of the project and drafting and negotiating the shareholders’ agreement and the commitments letters with the other partners in the project.
  • Advised an Islamic investment bank on the structuring and the private placement of an investment vehicle for investments in real estate development projects in Saudi Arabia.
  • Represented HSBC and EFG-Hermes in the initial public offering of Talaat Mostafa Group, the largest real estate developer in Egypt, of shares listed on the Cairo and Alexandria Stock Exchange and offered internationally on a Rule 144A and Regulation S basis. The proceeds were approximately $800 million.
  • Abu Dhabi Investment Authority and LaSalle Investment Management: Advised on the acquisition by forward purchase of an office building in France (€170 million) from Nexity (a leading French commercial real estate developer) an on the acquisition financing from Hypo Real Estate.
  • Acted for NM Rothschild in the redevelopment and financing of its new £100 million headquarters building at New Court in St. Swithin’s Lane, London.
  • Acted on the acquisition and financing of former Thyssen-Krupp housing company with more than 40,000 units (€2.2 billion).
  • Represented Sumitomo Life Realty in the formation of a REIT with Hines Organization allowing Sumitomo to monetize its investment in trophy New York City and Washington D.C. properties worth over $500 million.
  • Represented J.W.Construction Holding S.A., a leading Polish real estate developer, in its initial public offering and listing on the Warsaw Stock Exchange.
  • Represented Pol-Aqua S.A., a leading provider of construction services in the scope of engineering, ecology, roads and pipelines, in its initial public offering and listing on the Warsaw Stock Exchange.
  • Represented Polimex-Mostostal S.A. in its merger with the listed construction services firm Zaklady Remontowe Energetyki Warszawa S.A.
  • Represented WAN S.A., a Polish real estate developer, in the sale of 25 percent of the company shares to Morgan Stanley Real Estate Special Situations III-GP. This was Morgan Stanley’s first investment in the real estate sector in Poland.
  • Advised the City of Kraków in connection with the negotiation and execution of the financing documentation with a multilateral financial institution for the development of a high-speed tram system.
  • Advised the European Bank for Reconstruction and Development (“EBRD”) on its provision of secured financing for the $29 million development of “Nevsky 49”, a 164 room business standard hotel located on Nevsky Prospect in St. Petersburg, Russia.
  • Advised an international investment fund on the refinancing of its loans secured by a mortgage over a prominent commercial building in central Moscow, Russia.
  • Advised Calyon, who was acting as agent for a pool of lenders, in Project Orione, a €230 million, multi-tranche loan granted to a company controlled by Pirelli & C. Real Estate S.p.A., for the acquisition and restructuring of a real estate portfolio.
  • Advised an Italian real estate investment fund managed by a joint venture between M.P.S. S.p.A. and Hines Group in a €110 million loan granted by a pool of lenders for the acquisition, restructuring and development of certain real estate assets located in Milan, Italy.
  • Advised M.P.S. S.p.A. in the €205 million multi-tranche loan granted to a real estate investment fund managed by Hines Group for the development of a real estate project in the center of Milan, Italy.
  • Represented a US funder for a well-known UK medical research laboratory.
  • Represented the buyer of a major office block in the City of London for over £150 million, taking over existing main finance, and with part refinancing.