The worldwide Actual Property Follow at regulation agency Greenberg Traurig, LLP just lately closed on the $1.75 billion refinancing of San Francisco’s Parkmerced on behalf of proprietor Maximus Actual Property Companions.
NEW YORK, Dec. 6, 2019 /PRNewswire-PRWeb/ — The worldwide Real Estate Practice at regulation agency Greenberg Traurig, LLP just lately closed on the $1.75 billion refinancing of San Francisco’s Parkmerced on behalf of proprietor Maximus Actual Property Companions. The financing included a $1.5 billion mortgage mortgage from Barclays Capital Actual Property Inc. and Citigroup International Markets Realty Corp. and a $275,000,000 mezzanine mortgage from AIMCO.
“We had been happy to advise and help our long-time consumer Maximus on this refinancing. Parkmerced is an iconic improvement and we’re excited to be a part of a venture that’s key to the area people and that can serve the worldwide purpose of growing sustainable city residing,” stated Stephen L. Rabinowitz, managing shareholder of the regulation agency’s New York office and chair of the workplace’s Actual Property Follow, who led the Greenberg Traurig workforce. “Our work on this wide-ranging transaction concerned a nationwide workforce of Greenberg Traurig legal professionals from a number of disciplines, together with Actual Property, Tax, Labor & Employment, and Company, and is a main instance of how our nationwide platform could be mobilized to serve shoppers and full transactions anyplace in the US.”
Greenberg Traurig and Rabinowitz have represented the house owners of Parkmerced since 2005. Parkmerced, at 152 acres and three,221 items is the biggest personal residential property in Northern California. The refinancing clears the best way for financing the primary part of a long-term revitalization and improvement that can carry 5,600 new items to Parkmerced. The absolutely developed property will embody practically 10,000 properties; 80,000 sq. toes of workplace; 230,000 sq. toes of retail; a brand new elementary faculty; and 64,000 sq. toes of facilities. The re-envisioned Parkmerced is about to function a cutting-edge design, improved mass transportation, and an emphasis on sustainability, making it the one carbon-neutral neighborhood on the earth.
Along with Rabinowitz, Greenberg Traurig’s deal workforce included Shareholders Kristen J. Lonergan (Actual Property), Josh Farrell (Actual Property), Adam Goldstein (Actual Property), Bradley R. Marsh (Tax), Steve Mastbaum (Tax), Charles Birenbaum (Labor & Employment), Brian L. Colborn (Company) and Randall C. Single (Actual Property), and; Associates Karen L. Geringer (Actual Property), Janel Pellegrino (Actual Property), Alice Y. Chu (Actual Property) and Julian Henry (Actual Property); and Paralegal Tana Brkani.
About Greenberg Traurig’s Actual Property Follow: The Greenberg Traurig Actual Property Follow is a cornerstone of the agency and acknowledged chief within the business. The agency’s actual property attorneys ship diversified and complete counsel for property acquisition and funding, improvement, administration and leasing, financing, restructuring, and disposition of all asset lessons of actual property. The workforce attracts upon the information and expertise of greater than 400 actual property legal professionals from world wide, serving shoppers from key markets in the US, Europe, the Center East, Latin America, and Asia. The group’s clientele features a broad vary of property builders, lenders, funding managers, personal fairness funds, REITs, and personal house owners. The agency’s actual property workforce advises shoppers on quite a lot of issues throughout a broad spectrum of economic, leisure, and residential actual property, together with structured fairness and debt and the hybrids.
About Greenberg Traurig, LLP: Greenberg Traurig, LLP (GT) has roughly 2,100 attorneys in 41 areas in the US, Latin America, Europe, Asia, and the Center East. GT has been acknowledged for its philanthropic giving, range, and innovation, and is persistently among the many largest corporations within the U.S. on the Regulation360 400 and among the many Prime 20 on the Am Regulation International 100. Net: http://www.gtlaw.com Twitter: @GT_Law.
SOURCE Greenberg Traurig, LLP