PRACTICES
OVERVIEW
Eric Sauter is a real estate finance, general real estate and corporate lawyer with more than a decade of experience closing loans. He represents lenders, institutional investors and borrowers in commercial real estate transactions across the United States. Eric is experienced in all aspects of business banking, construction, bridge, mezzanine and permanent mortgage loan originations, structuring, purchase and sales, and associated mortgage loan modifications, from application through closing. Eric is known as a deal-closer and prides himself on developing lasting client relationships.
Beyond his real estate finance practice, Eric represents real estate investors, landlords and tenants in general real estate matters, including financing, leasing and subleasing in all asset classes, as well as in sale/leaseback transactions, master leases and ground leases. His corporate law practice includes drafting company formation and operating agreements, issuing non-consolidation and state law enforceability opinions, and advising on other general corporate law matters.
Credentials
Bar and Court Admissions
Connecticut
New York
Education
- St. John’s University School of Law, JD, 2008
- University of Michigan, BA, 2004
News & Insights
REPRESENTATIVE MATTERS
- Represented the mezzanine lender with respect to financing a $53,200,000 mezzanine construction loan subordinate to a $170,000,000 senior secured construction loan, secured by interests in a multi-family and retail development
- Represented the mezzanine lender with respect to financing a $10,000,000 mezzanine loan subordinate to a $87,250,000 senior secured mortgage loan, secured by interests in a luxury multi-family project
- Represented the mezzanine lender with respect to extension and modification of a $50,000,000 mezzanine loan subordinate to a $357,000,000 senior secured mortgage loan, secured by interests in a commercial office skyscraper
- Represented the mezzanine lender with respect to extension and modification of a $40,000,000 mezzanine loan subordinate to a $325,000,000 senior secured mortgage loan, secured by interests in a multi-state medical office and clinical facility portfolio
- Represented the mezzanine lender with respect to a $20,000,000 senior mezzanine loan assumption and modification subordinate to the assumption and modification of a $152,000,000 senior secured mortgage loan, covering the corporate acquisition of ownership interests in a multi-family apartment complex
- Represented the mezzanine lender with respect to a $57,400,000 senior mezzanine loan assumption and modification subordinate to the assumption and modification of a $217,000,000 senior secured mortgage loan, covering the corporate acquisition of ownership interests in a multi-family apartment complex
- Represented the lenders with respect to financing a $66,240,000.00 senior mortgage loan and a $5,760,000.00 subordinate mezzanine loan, secured by interests in a 4-star hotel and banquet center
- Successfully closed roughly 25-35 single and multi-property loans each year from 2014-2021 (fixed and variable rate loans from $2 million to $50 million, each) – from origination through post-closing – representing CMBS, portfolio, and traditional banking lenders nationwide, secured by self-storage, warehouse, hotel, multi-family, mixed-use, retail, mobile home park, and office facilities
- Successfully closed roughly 20 business banking loans each year as of 2020 (fixed and variable rate loans from $750 million to $10 million, each) – from origination through post-closing – representing regional and national banks, secured by commercial real estate and asset pledges
- Represented a borrower with respect to $210 million senior and mezzanine financing of luxury water-front multi-family complex in Brooklyn, New York
- Represented a commercial shopping center owner in connection with multi-million-dollar bond refinancing, including preparation and negotiation of tenant lease estoppels, SNDAs, and vendor contract negotiations and renewals
- Represented Section 8 Property Owners in connection with multi-million-dollar bond refinancing, including preparation and negotiation of tenant lease estoppels, SNDAs, and vendor contract negotiations and renewals
- Represented a New York regional bank with respect to a $13 million construction loan and $1.3 million term loan secured by premier Westchester County, New York golf course
- Represented a New York regional bank with respect to a $5.5 million construction loan secured by an animal shelter and hospital
- Represented a New York regional bank with respect to two construction loans closed simultaneously totaling $3.785 million to affiliate developers, covering luxury multi-family apartment facilities in Long Island City, New York
- Represented a New York regional bank with respect to a $4.5 million construction loan covering teardown and construction of luxury homes in Amagansett, New York
- Represented a joint venture equity group in connection with a $2.8 million construction loan for a private Long Island City, New York development project, including drafting of mortgage and security agreement, construction agreement, operating agreement, and security documents
- Represented a regional bank with respect to a $20 million commercial loan to Manhattanville College, secured by mortgage again college campus and asset pledges
- Represented a regional bank with respect to refinancing $10 million advised line of credit and $8 million mortgage loan to Children’s Village, including negotiating and documenting the transfer of accounts perfecting the bank’s security interest
- Represented a regional OTB in connection with use of gaming space at Long Island hotel-casino, including negotiation and drafting of lease and development and maintenance agreement
- Represented a commercial shopping center in connection with negotiating and drafting lease and vendor agreements
- Negotiated, drafted, and extended vendor and special event contracts on behalf of major luxury brand conglomerate and affiliated retail stores and outlets
- Represented a New York residential developer in connection with conversion and sale of condominium units in DUMBO neighborhood of Brooklyn, New York
- Represented a New York residential developer in connection with application and approval of HOA offering plan, construction permit, and sale of HOA units in Patterson, New York