Commercial Lending

Commercial Lending

Overview

Cox, Castle & Nicholson is proud to represent a variety of traditional and nontraditional lenders, including banks, insurance companies, pension funds, finance companies, mortgage bankers, and private investment funds in the financing of real property, businesses, receivables, and other assets. Our finance capabilities are all-encompassing and include the initial structuring and closing of finance transactions, loan administration, workouts, and loan restructures.

Loan Structures

We represent lenders in all parts of the capital stack in acquisition, development, construction, bridge and permanent loan transactions. With a dedicated group of attorneys, we routinely represent real estate secured lenders, agricultural lenders, personal property asset based lenders and mezzanine lenders. In addition, we commonly represent administrative agents, servicers, participants and syndicate lenders, both in the borrower lender relationship and in the intercreditor relationships, and, as a result, we typically draft and negotiate a variety of intercreditor, participation, and loan syndication agreements. 

Asset Classes

The breadth of our financing engagements is not limited by property type or asset class. We have been involved in numerous fee and ground lease financings of residential, resort, hospitality, industrial, commercial, agricultural, retail projects and shopping centers, office buildings, hotels, apartment buildings, industrial parks, congregate care and seniors facilities, condominiums, planned unit developments and vacation ownership, and mixed-use projects. We also assist clients with asset-based financing involving collateral such as stock, accounts receivable, inventory, equipment, crops, general intangibles, and entity ownership interests. Often our financing transactions involve both real and personal property. We also have extensive experience with multiple borrower, cross-collateralized, and multi-state transactions.

Statutory Concerns

We are particularly knowledgeable concerning the California antideficiency and "one action" statutes applicable to real estate secured loans and the special considerations applicable to loans secured by a combination of real and personal property, as well as the unique issues that arise under revised Article 9 of the Uniform Commercial Code. Our attorneys have extensive experience in dealing with issues related to real and personal property collateral that are fundamental to a lender’s underwriting or a developer’s ability to qualify for a loan. We also are particularly knowledgeable in the various options and risks associated with different types of guarantees and surety devices, so as to guide the client on the best available structure to accomplish the stated goal. As we often represent out of state or start up lenders, we are commonly asked to assist on obtaining appropriate licensing for our clients.

Representative
Matters

Represented a high-leverage mortgage lender REIT in connection with the origination of a $30 million mortgage loan to finance the refurbishment of a 368-room full-service hotel operating under a national flag in Southern California.

Represented a portfolio lender in connection with the origination of a $112 million loan secured by 620,000 net rentable square feet of retail space in Southern California's San Fernando Valley. The real estate collateral had challenging zoning issues and the transaction included negotiating SNDAs with multiple national tenants.

Represented an owner of data storage centers in the negotiation of a credit facility in an amount in excess of $250 million for general corporate purposes. Loan collateral was multiple data storage centers located in the western United States.

Represented a lender to an owner of a boutique hotel in New York City, New York in connection with a $65 million loan facility, which was structured as a senior loan of $40 million that was transferred to another lender and the client retaining a junior loan in the amount of $19 million. Negotiated all loan documents, syndication agreement, and inter creditor agreement with a mezzanine lender to borrower.

Represented a regional bank in connection with a $30 million mortgage loan and working capital line secured by a hospital and medical office building and negotiated intercreditor agreements with participating lenders.

Represented a client as co-counsel in connection with the financing in the amount of approximately $350 million for a large wind energy project subject to more than 235 wind farm leasehold interests in Central California.

Represented a large national bank in connection with a $345 million syndicated loan secured by more than 100 industrial properties located in 5 states, including negotiations of an intercreditor agreement with a mezzanine lender.

Represented a large national lender in connection with a mortgage loan secured by a storage facility which was subject to a ground lease with the municipality.

Represented syndicated lenders in making a $38.5 million credit facility to a global supplier of fill and plastic related products, which credit facility consisted of a revolving line coupled with trade finance capabilities (Site Letters of Credit, Bankers Acceptances, Usance Letters of Credit, Standby Letters of Credit, and shipping guarantees).

Represented numerous lenders in making conforming accounts receivable/inventory loans to a variety of businesses, including a tile wholesaler/retailer, a sand and gravel company, a fish wholesaler/retailer, a rare coin dealer, and a printer cartridge supplier.

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Represented a lender in connection with the origination, restructure and workout of several agricultural loans secured by row crops (cotton, strawberries, lettuce), permanent crops (almonds and citrus), rose bushes, and real property.

Represented a financial institution in making both a $6 million term loan and a $3.7 million borrowing base loan based upon crops (green onions and other vegetables), accounts receivable, inventory, and equipment.

Attorneys &
Paralegals

Name Title City Phone  
Bissett, Katherine C. Associate Los Angeles 310.284.2216
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Dreyfus, Caroline W. Partner Los Angeles 310.284.2207
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Karns, Gregory J. Partner Los Angeles 310.284.2204
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Li, Stephen D. Partner Los Angeles 310.284.2232
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North, Erik M. Partner Los Angeles 310.284.2203
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Orlik, Randy P. Partner Los Angeles 310.284.2229
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Prigoff, Bruce E. Partner San Francisco 415.262.5140
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Vesci, Adriana Partner Los Angeles 310.284.2243
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Waldman, Ira J. Partner Los Angeles 310.284.2244
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Weissburg, Adam B. Partner Los Angeles 310.284.2270
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Wolin, Amanda R. Associate Los Angeles 310.284.2260
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Spotlight

Three Cox, Castle & Nicholson Attorneys Featured In LABJ

Gary Glick, Adam Weissburg, and Amy Wells were selected to be featured in the Los Angeles Business Journal's 2013 "Who... More»