OVERVIEW
White and Williams Real Estate Group is comprised of highly respected, sophisticated lawyers with extensive industry knowledge and legal experience who understand the market and the nuances of a transaction. We are deal makers whose primary goal is always the success of the client.
We handle the full spectrum of real estate matters across the country, fostering a team approach to provide individualized attention to all levels of each client’s internal organization. The dedication to and close-working relationships with our clients are the hallmarks of our practice. We represent:
- Investment Funds
- Hedge Funds
- Family Offices
- Insurance Companies
- Non-traditional lenders
- Financial Institutions
- Commercial property owners and tenants
- Buyers, sellers and investors
- Community associations
- Joint venture partners
- Manufacturing entities
Clients rely on our counsel, from transaction structuring to documentation, through closing and servicing. We get involved early in the life cycle of a transaction, advise on structuring issue, and apply keen problem-solving skills when issues arise. We pride ourselves on viewing the big picture, thinking creatively, and working productively with opposing counsel to implement “win-win” situations for clients in difficult transactions. Our dedication to clients encompasses enhancing client reputations and relationships and being trusted advisors who clients turn to as team members. We have helped many of our clients establish new business lines and initiatives, formulate internal policies and procedures, played an integral part in the development of training programs, and often conduct workshops and seminars on various subjects of interest. This holistic approach results in excellent client relations, better service and more complete solutions.
Our lawyers are active in the industry and often speak on emerging issues at events and conferences. We are members of, and have held leadership positions in, a number of professional organizations, including the American College of Mortgage Attorneys, Mortgage Bankers Association, the CRE Finance Council, the American Land Title Association and CREW Network. Individual lawyers and the team are recognized in Chambers USA, Best Lawyers and Law Firms and US News and World Report and for achievements and client service in real estate law.
Mortgage, Mezzanine and Preferred Equity
We have extensive experience in the structuring, origination, acquisition, disposition, restructuring and enforcement of mortgage, mezzanine, “B” notes, participations and preferred equity investments across all parts of the capital stack. Having worked with such debt structures in times of both high growth and distress, we have significant market perspective and practice experience. We have earned a particularly strong reputation in the area of intercreditor, co-lender, participation and recognition agreement structuring, negotiation and enforcement.
We offer comprehensive service in the areas of:
- Permanent loans
- Mezzanine lending
- "B" notes and participations
- Balance sheet lending
- Bridge lending
- CMBS origination and securitization
- Construction and construction-to-permanent loans
- Intercreditor, co-lender and participation agreements
- Ground lease financing
- Hard money lending
- Joint venture agreements
- Preferred equity investments
- Syndicated and participated loans
- Agency loans
- Asset recovery and enforcement
- C-PACE loans
- EB-5 lending
General Commercial Real Estate
We represent commercial real estate clients, including owners, sellers, purchasers and developers, as well as property managers and community associations, in a variety of transactions and matters including:
- The purchase, sale and financing of all asset classes, including office, multi-family, hospitality and industrial
- Due diligence in connection with all of the above evaluations
- Assisting in property management
- Mechanics’ liens, code compliance and construction-related issues
- Assisting condominium, cooperative and planned community associations in all aspects of planning, governance and operations for these communities
- The resolution of title insurance claims
Loan Modifications and Restructurings
We regularly advise and strategize with our client sin connection with consensual restructurings and alternatives to litigation of non-performing credit facilities and structured finance transactions. We represent clients as lenders or co-lenders, agents, participants and loan purchasers and investors in connection with distressed mortgage or asset-based loans, mezzanine loans and CMBS investments. We have extensive experience in efficiently negotiating and documenting complex or standard loan modifications, extensions, restructurings, forbearances, discounted pay-offs and sales of loans or participation interests.
Leasing
We represent clients in all types of commercial real estate lease transactions, regionally and nationally, including space leases, “big box” leases, ground leases and build-to-suit leases. The range of clients we represent in these transactions includes:
- Retailers and other tenants in shopping center leases
- Shopping center owners
- Tenants and landlords in warehouse leases
- Real estate owners and investors, as landlords in office leases
- Various businesses, as tenants in office leases
- Lenders and rent receivers as landlords of foreclosed real estate projects of all kinds
We work closely with other members of a client’s team, including brokers, property managers, architects, construction managers and environmental consultants. We also collaborate with lawyers in the Financial Restructuring and Bankruptcy Group to represent landlords or tenants in the disposition of leases in bankruptcy proceedings.
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Representative Matters
- Represented senior lender in the origination of a $167 million mortgage loan related to the refinance of the Margaritaville Hotel on Times Square, New York City’s largest hotel financing in 2021
- Represented trust fund in negotiation of mortgage and mezzanine loan documents and intercreditor agreements in connection with a $240 million total financing of a class “A” office building on Madison Avenue in New York City
- Represented New York-based investment fund in the origination of a $68 million mortgage loan financing secured by Class A office tower in Chicago, IL
- Represent investment management company in all aspects of its ownership of landmark New York City property, including lease negotiations, refinancing of debt on the property, ongoing landlord/tenant matters, licensing agreements and other transactional matters
- Represented investment firm in its extension of $60 million in highly structured EB-5 financing behind approximately $100 million in two mortgage loans and a mezzanine loan for a luxury resort and gold club in West Palm Beach, Florida
- Represent real estate investment management company in the launch of its strategic investment and partnership for purchase and redevelopment of warehouse spaces, including handling joint venture negotiations and documenting complex management agreements
- Represented New York investment fund in the origination of $193 million mortgage loan secured by multifamily apartment complexes in Dallas- Fort Worth, TX, including structuring overall financing as eight separate loan transactions for each of the joint venture-entity property owners
- Represented New York investment fund in its strategic alliance to co-originate commercial real estate bridge loans relating to transitional properties
- Represented senior mezzanine lender group in workout negotiations and sale of the group’s $300 million debt position in the capital structure that financed the $5.4 billion acquisition by Tishman Speyer and Blackrock Realty of Stuyvesant Town – Peter Cooper Village, an 80-acre apartment complex located in the Lower East side of Manhattan
- Represented capital management company in the co-origination of $75 million ground up construction financing of a luxury multi-family residential project in San Antonio, TX, including drafting of A/B co-lender agreement and negotiation of “B” note lender position in the co-lender relationship
- Represented national lender in a $184 million commercial/industrial multi-property portfolio loan to a major REIT that included numerous issues in both structuring and for collateral realization
- Represented mezzanine lender of $135 million of convertible mortgage and mezzanine debt on New York property, inclusive of negotiation of co-lender and intercreditor agreements and structuring of B-note
- Represented lender group in the origination, syndication and subsequent restructure of a $130 million mortgage loan for resort development
- Represented investment management company in the $107 million acquisition and construction financing for 2020 Logistics Center, a state-of-the-art distribution facility being constructed in Edison, New Jersey. Brookfield originated both the mortgage and mezzanine debt. The deal team overcame a number of challenges to ensure the project and proposed use conform with current zoning ordinances and environmental regulations, and closed the financing on an accelerated timeline.
- Represented insurance company and its investment advisor in origination of $85 million mortgage loan relating to 254-unit luxury apartment complex
- Represented institutional lender in $75 million receivables financing for more than 50 multi-state projects located throughout the US; projects were branded by a nationally recognized resort company and developed by the company itself or by other developers with fee-based service arrangements with the company
- Represented a life insurance company in origination of $35 million mezzanine loan relating to Class “A” office building in Philadelphia, PA
- Represented an investor on a $25 million EB-5 mezzanine loan secured by indirect interests in 281 Fifth Avenue, New York
- Represented a manufacturer in the acquisition and financing of a facility in Philadelphia requiring bank, PIDC and PIDA financing
- Represented a corporate tenant in a lease for 116,000 square feet of space for its headquarters in a major Center City Philadelphia office building
- Represented a suburban office park landlord in the lease of a 128,000 square foot building to an insurance company tenant
- Represented a tenant in a build-to-suit lease transaction for a 75,000 square foot climate- controlled storage facility
- Represented a shopping center landlord in a lease for a 100,000 square foot anchor tenant
- Represented a shopping center landlord in a ground lease transaction for a bank branch on an out parcel
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