Overview
The breadth and sophistication of Cox Castle’s borrower-side real estate finance practice has earned our attorneys a reputation as extremely qualified to advise real estate borrowers, sponsors and investors in connection with complex and significant real estate finance matters. Our lawyers’ extensive knowledge of the capital markets and the commercial real estate industry permits us to provide an experienced perspective to our borrower clients, which include institutional investors, public real estate investment trusts (REITs), pension funds and pension advisors and private equity funds.
Spanning traditional single-property transactions, complicated structured transactions secured by portfolios of assets, preferred equity and mezzanine loan transactions, our attorneys support our clients through the entire lifecycle of a financing transaction – including structuring, origination, asset management, and refinancing. Our lawyers are also experts in the structuring requirements of rating agencies and B-piece buyers and similar specialized real estate finance investment vehicles.
Access to a comprehensive range of resources is paramount when financing commercial real estate. Our attorneys have expertise in every variety and class of commercial real estate assets, including office, retail, industrial, healthcare, hospitality, life sciences, senior living, multifamily (including affordable housing) and condominiums. This experience, together with Cox Castle’s full-service approach to client representation and familiarity with real estate financing processes, requirements and major players, allows our attorneys to assist our clients in structuring and executing their real estate finance transactions so as to avoid unnecessary costs and delays and maximize their success.
Experience
$200 Million Construction Loan for Trophy Hotel
Represented developer in connection with a $200 million loan secured by trophy hotel in Southern California. The loan was highly structured given the uniqueness of the asset.
$276 Million Financing for LA Chargers New Corporate Headquarters and Training Facility
Represented one of the largest development companies in California with respect to $276 million of construction and permanent financing for a new corporate headquarters and training facility to be leased to the Los Angeles Chargers football team. The state-of-the-art performance center in El Segundo, California, will offer office space for the players, coaches, and staff, as well as three natural grass fields. The 14-acre site provides convenient access to both SoFi Stadium, home of the Los Angeles Chargers, and the Los Angeles International Airport.
Construction Financing for Significant Mixed-Use Development
Represented developer with the origination of construction financing from a consortium of national and international institutional lenders for the ground-up development of a mixed-use project in the New York City metropolitan area containing approximately 650 market rate residential apartment units, 280 affordable housing units, 20,500 square feet of ground-floor retail space, 45,000 square feet of residential leasing, and indoor amenity space, and 200 parking spaces.
Negotiation of Multimillion-Dollar Leveraged Transactions
Represented private debt fund in negotiating multimillion dollars of leverage in two separate transactions involving a loan facility and repo facility to leverage the client’s loan portfolio. As part of the transaction, Cox Castle addressed several issues with the existing lender, investors, and partners of the client. In addition, Cox Castle led the on boarding process of all underlying loans comprising the pools for leverage.
$103 Million Bridge Loan for Multifamily Project
Represented an investment vehicle in connection with a $103 million bridge loan for the financing, acquisition, conversion, and renovation of an apartments project in Nashville, Tennessee. The bridge loan was originated by a mortgage REIT.
Multimillion-Dollar Acquisition and Operating Loan
Represented a partnership of investors and operators in connection with a multimillion-dollar loan to acquire and operate farmland, equipment, and a packing facility in two California counties. Cox Castle led all aspects of buyer’s acquisition and financing transactions, as well as negotiation of joint venture, operating, farm management, leasing, and other agreements with the client’s operating partners.
Multimillion-Dollar Refinancing of Mixed-Use Commercial Development
Represented management affiliate of a publicly traded real estate investment trust in refinancing a mixed-use commercial property in California. Cox Castle also represented the client in hedging the variable rate debt using an interest rate swap negotiated with an institutional swap provider.
Financing for Multifamily Project Acquisition
Represented the sponsor of a joint venture in financing the acquisition of an ocean front luxury apartment building in California. The acquisition was financed utilizing a syndicated commercial real estate mortgage loan secured by, among other things, a deed of trust lien and assignment of rents on the acquired property. Cox Castle also represented the sponsor in hedging the variable rate debt with Term SOFR interest rate swaps negotiated with institutional swap providers.
Financing for Luxury Multifamily Portfolio
Represented the management affiliate of a publicly traded real estate investment trust in financing a two-property portfolio of high-rise apartment buildings with agency mortgage debt. The financing was originated by an agency lender for sale to a government sponsored enterprise and is secured by, among other things, mortgage liens and assignments of rents on each property. Cox Castle also represented the client in hedging the variable rate debt.