Cox Castle represents a variety of traditional and nontraditional lenders, including national, super-regional and regional banks, insurance companies, private equity, debt funds and pension funds, in the financing of real property, receivables and other assets. Our all-encompassing finance capabilities include the initial structuring, documentation and origination of finance transactions; due diligence review; loan administration; and loan restructures, workouts and enforcement. We work with our clients to anticipate potential challenges and risks and to devise practical solutions to address their specific needs.
We advise lenders across all levels of the capital stack in acquisition, development, construction, mezzanine, bridge and permanent loan transactions. Our dedicated group of attorneys routinely represents real estate secured lenders, mezzanine lenders, agricultural lenders and personal asset-based lenders. In addition, we represent administrative agents, participants and syndicate lenders in both borrower-lender relationships and intercreditor relationships.
The breadth of our financing engagements is not limited by property type, asset class or geographic areas. Our representation covers fee, leasehold, mezzanine and ground lease financings of residential, hotel/resort, industrial, commercial, agricultural and retail projects, including: shopping centers, office buildings, hotels, multifamily, student housing, congregate care and senior facilities, condominiums, hospitals and medical office buildings, planned unit developments, vacation ownership and a mixture of uses. We handle transactions in all fifty states in the United States and in single property transactions or multi-state portfolio loans.
Loan Workouts & Financial Restructuring
Cox Castle has developed a vigorous practice advising lenders, investors, administrative agents and buyers of distressed debt and properties on all aspects of workouts, loan restructures, foreclosures and enforcement, including bankruptcy planning considerations. We utilize a practical and business-oriented approach, focusing on strategic analysis of the interests of relevant stakeholders and obligors, sensitizing our clients to relevant legal issues and tailoring legal responses that conform to our clients’ practical and business considerations.
We also represent both borrowers and lenders in loan modifications, workouts, note splits, note purchases, discounted payoffs, foreclosures and deeds-in-lieu of foreclosure. Negotiating with or on behalf of borrowers, lenders, note holders and administrative agents, we work with our clients to preserve the value of distressed assets and protect their investment.
Structured Finance & Securitized Loans
Cox Castle is actively involved in all facets of capital market transactions, including loan originations, loan servicing, asset management and workouts and restructures. Building on our deep understanding of capital markets, we assist our clients in planning, securing and utilizing debt for a variety of real estate projects.
$5.7 Billion Construction Loan Portfolio
Represented, as co-counsel, national commercial lender in the sale of $5.7 billion construction loan portfolio to a consortium of real estate owners/developers. The majority of the notes were secured by multifamily and student housing assets while the rest were associated with industrial, hotel, and life science properties. Cox Castle assisted the client in diligence and deliveries associated with the acquisition of approximately 70 loans, including confirming buyer-required representations, analysis of issues raised by sale transaction, and assisting of on-boarding loan documents to buyer group.
Multi-State Loan Portfolio
Represented global investment company in a multimillion-dollar programmatic loan portfolio secured by development and stabilized “glam camp” sites. The portfolio included properties in California, New York, Utah, Massachusetts and North Carolina. The loans were highly structured given the multi-state structure.
Mezzanine Loan for Construction of Multifamily Housing
Represented institutional lender in a mezzanine loan funded in connection with the construction of multifamily housing in Washington. Cox Castle drafted and negotiated the mezzanine loan documents, negotiated the intercreditor agreement, worked with the senior lender on the senior loan documents, and reviewed all diligence.
Multimillion-Dollar Construction Loan for Residential Project
Represented a real estate investment company in connection with a multimillion-dollar construction loan for a residential project featuring a mix of apartment and townhouse units to be built in Chicago. Cox Castle assisted client in drafting and negotiating loan documents and conducting property level due diligence. In addition, Cox Castle aided with the organizational due diligence with respect to the borrower, and with the negotiations related to preferred equity and a mezzanine lender in the capital stack, including, without limitation, negotiation of an intercreditor agreement.
Portfolio of Note-on-Note Transactions
Represented commercial bank in a portfolio of note-on-note transactions with three different nationally recognized debt funds as borrowers. Cox Castle was responsible for drafting and negotiating the note-on-note loan documents, reviewing the underlying loan file (both loan documents and all diligence), and conducting the due diligence on the note-on-note transaction.
Large Portfolio Loan in Southern California
Represented commercial bank as senior lender in connection with the documentation, negotiation, and due diligence for a large portfolio loan with nine properties and nine separate borrowers located in Southern California. The properties were all being rehabilitated and were amid updated zoning approvals to convert the use from retail to mixed-use, with a portion of the residential being subject to affordable housing requirements.
$362 Million Syndicated Loan
Represented an affiliate of a debt fund in a $362 million syndicated loan to borrower acquiring more than 5,000 lots comprised of residential, mixed-use, agricultural, and industrial land in San Joaquin Country. Cox Castle assisted client in complex loan structing and extensive land use analysis, as well as negotiating with several well-known residential builders. Because of the required closing timetable, the financing transaction closed within two months from inception.
Multimillion-Dollar Bridge Loan for Hotel
Represented institutional lender in the origination of a multimillion-dollar bridge loan secured by a 504-room, dual-branded hotel in Washington, DC. The transaction involved complicated property-level diligence, including a master lease arrangement, two franchise agreements, two hotel management agreements, as well as zoning issues relating to a single lot agreement with the adjacent property.
Multimillion-Dollar Bridge Loan for Industrial Portfolio
Represented lender in the origination of a multimillion-dollar bridge loan secured by a portfolio of six industrial buildings. The transaction involved four co-borrowers and included properties in two different states.
Multimillion-Dollar Bridge Loan for Hotel
Represented lender in connection with a multimillion-dollar bridge loan secured by a hotel in Southern California. The transaction involved detailed review of borrower’s plan and negotiation of various guaranties relating thereto. Loan diligence included in-depth analysis of the hotel’s entitlements and use permits, as well as the impact of pending zoning amendments, and the negotiation of a subordination agreement with the hotel manager.
- Emin Akopyan
- Katherine C. Bissett
- Nicholas M. Cameron
- Robert G. Campbell
- Kevin J. Crabtree
- Sydney S. Desai
- Brie W. Dorfman
- Caroline W. Dreyfus
- William J. Ju
- Gregory J. Karns
- Doris Katsuda
- John H. Kuhl
- Greg G. Oehler
- Laura Petrie
- Jonathan Sears
- Douglas P. Snyder
- Julie Stone
- John Matthew Trott
- Katie E. Valdez
- Adriana Vesci
- Ira J. Waldman
- Adam B. Weissburg
- Amy H. Wells
- Amanda R. Wolin
- Annette A. Wong
- Mathew A. Wyman