Bingham

Bingham

Real Estate

Bingham has a long history of representing clients throughout the United States in major real estate transactions. We represent many of the country’s largest and most sophisticated financial institutions, developers, pension fund advisers, corporations, governmental entities, REITs and other property owners in the full range of real estate transactions. Our group of real estate lawyers has won praise from both clients and peers for its ability to get deals closed advantageously and efficiently. Recognized as “smart, deal-making lawyers” in Chambers USA, our lawyers advise clients on myriad sophisticated real estate transactions involving acquisitions and dispositions; development; financing; joint ventures; leasing; restructuring and workouts; and debt, tax and environmental issues.

Experience

Representative Matters

  • Represented a major financial institution in the sale of a portfolio of 40 performing loans secured by real estate assets located throughout the country, in what was considered by many to be one of the most significant financial institution portfolio transactions of 2011.
  • Represented UBS Realty Investors in the acquisition of 53 State Street, Boston, Mass. (commonly known as Exchange Place) from Brookfield Properties, in what was one of the largest single office property sales in the U.S. in 2011.
  • Represented M&T Bank in the workout of a first mortgage loan on 375 Pearl Street, a vacant 800,000 square foot property in lower Manhattan commonly known as the Verizon Building.
  • Represented Lehman Brothers Real Estate Partners (now known as Silverpeak Real Estate Partners) in the ongoing restructuring of more than $2 billion of distressed development projects, mezzanine loans and joint venture interests, including repositioning a New York City residential apartment complex known as Riverhouse, which is one of the largest “green” residential development projects in the U.S.
  • Represented Gotham Organization in closing a $520 million bond financing for the construction of a 1,238-unit multifamily project known as Gothem West that, once complete, will consist of four buildings, a 200-car parking garage and more than 16,000 square feet of retail space. The transaction involved acquisition of the land from the City of New York, complex negotiations with numerous city and state agencies.
  • Represented State Street Bank in closing a restructuring and recapitalization of Heritage Fields at El Toro, a $1.4 billion master-planned community being developed on the site of a former military base in Orange County, Calif. Once complete, Heritage Fields, a 3,700 acre parcel of land, is expected to include 5,000 new homes, more than 5 million square feet of commercial space and a metropolitan park twice the size of New York’s Central Park.
  • Represented The Hartford in connection with a $255 million mortgage loan facility to a borrower group sponsored by a national real estate private equity fund. The facility provided for future advances and multiple tranches of floating debt and was secured by 23 warehouse-industrial facilities located in California, Texas, Florida, New Jersey, Georgia, Illinois, Indiana and Kentucky.  
  • Ongoing representation of two hospital organizations in the development of the new 600-bed Stanford University Hospital and the nearly $600 million expansion of the Lucille Packard Children’s Hospital, a project that involves multiple attorneys engaged to assist in real estate entitlements, construction contracts, ground leases, easements and related real estate issues.
  • Represented The JBG Companies in the recapitalization of a 17-acre project known as Landbay G, which is part of Potomac Yard Town Center. The recapitalization includes the acquisition of the first trust debt and the negotiation of a new venture with MRP Realty. This project marks an expansion of an existing joint venture between JBG and MRP Realty to develop the adjacent parcel, Landbay H. Together, once developed, the two land parcels are expected to include more than 2.5 million square feet of residential, retail and office space, as well as a hotel.
  • Represented the Berkshire Group in the multi-stage acquisition of a portfolio of nine multifamily properties (located in Arizona, California, Colorado, Georgia and Texas) with an aggregate purchase price of $358.1 million. The transaction involved coordination of acquisition financing of six assets with three different originating lenders through Freddie Mac’s CME program, as well as coordination of three loan assumptions through three different existing lenders.
  • Represented CB Richard Ellis Investors, LLC in connection with the $96.5 million acquisition of a 217-unit multifamily apartment complex in Hoboken, N.J. pursuant to a 363 bankruptcy sale order, which involved extensive negotiations in order to ensure that the property be conveyed free and clear of existing redevelopment encumbrances. Acquisition financing of $57.9 million was obtained through a Freddie Mac portfolio loan.

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