REAL ESTATE LENDING: DESCRIPTION

Conduit Lending

Our commercial real estate group has been integrally involved in the conduit lending area since its emergence. In the past five years, we have closed more than 750 conduit loans aggregating in excess of $2 billion. Properties financed include various retail, multi-family, office, hotel, industrial, mobile homes, nursing homes and mixed use projects located in more than 40 states across the country. We understand the competitive pressures that prevail in the marketplace and recognize that speed and efficiency in the closing process are absolutely essential to the success of a conduit lending program. In contrast to the model employed by many of our competitors, the lawyers principally responsible for the active, day-to-day aspects of each loan transaction are the most senior lawyers in our group. Over time, we have found that the speed and efficiency that are so essential for success can only be achieved when transactions are staffed with lawyers that have the experience required to exercise practical, common sense judgment in critical stages of the closing process.

Representative Transactions

• Representation of a major commercial lender in a $41.5 million loan secured by three commercial office buildings in Riverside and San Bernardino counties. 
• Representation of the conduit lending arm of a Wall Street investment bank in connection with a $44.5 million loan secured by an office project located in Cincinnati, Ohio.
• Representation of a subsidiary of a major, publicly traded life insurance company in a $30 million loan secured by a retail project located in Tampa, Florida.
• Representation of the conduit lending arm of a large commercial finance company in the creation of a small loan conduit program, and closing of over 100 loans in more than 25 states.
• Representation of a subsidiary of a large national bank in connection with a $48 million loan secured by various mini-storage facilities located in nine states.
• Representation of the conduit lending arm of a Wall Street investment bank in connection with a $23 million loan secured by a retail shopping center located in Jacksonville, Florida.
• Negotiated, documented and closed $42 million loan by Japanese lender to developer secured by land being developed into residential real estate development in North San Diego County; later handled workout for loan.
• Supervised regional counsel team that negotiated and closed all permanent loans made in California by major life insurance company (some portfolio loan, some securitized), ranging in size from $4.5 million to $30 million.

Construction Lending

Construction lending, by definition, involves a higher degree of risk. To be effective in closing construction loans requires a comprehensive knowledge of the development, construction and leasing process, as well as a thorough understanding of the underlying product being financed. The professionals dedicated to this practice area in our firm are widely recognized for their construction lending expertise. Our lawyers have the experience required to address with precision the nuances that must be scrutinized in order to appropriately manage what is otherwise an inherently more volatile financing vehicle.

Representative Transactions

• Representation of a major commercial bank as agent for a bank syndicate in connection with an $85 million loan for the construction of a lifestyle entertainment complex located in central Florida.
• Representation of a major commercial bank as agent for a bank syndicate in connection with an $82.5 million loan for the construction of an office tower located in a major business district in Texas.
• Representation of bank in connection with a $39 million loan for the development and construction of a hotel and conference center in Texas.
• Representation of major commercial lender in connection with three portfolio loans to related borrowers totaling $105 million for two office towers and one mid-rise office building in the Atlanta, Georgia area.
• Representation of major commercial bank in connection with two loans totaling $77.4 million to related borrowers for apartment complexes in Georgia and Florida.