Sklar Kirsh provides comprehensive legal services to institutional and non-institutional lenders, real estate funds, individual investors, and family offices with respect to a wide array of real estate financings. We advise our clients on the structuring, negotiating and closing of financing transactions involving CMBS lending, senior mortgage financings, construction financings, Fannie Mae and Freddie Mac multifamily loan programs, loan syndications and loan participations, subordinated debt and mezzanine lending.
Our real estate finance attorneys are well-versed in navigating sophisticated commercial real estate transactions in all sectors in and outside of Southern California. We also have significant experience representing borrowers and lenders in restructuring, workout and defeasance transactions.
Our depth of knowledge and experience allows us to successfully handle complex transactions and deliver legal services of the highest quality to our clients without losing sight of practical considerations.
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- Represented Columbia Pacific Advisors (as lender) in connection with a $6,500,000 loan to 1673 West Lacey, LLC (“Borrower”). The loan financed the stabilization and refinancing of the Hanford Boot Barn Building (connected to the Hanford Regional Mall), a 74,296 square foot value addition retail parcel located in Hanford, California. The Borrower was represented by Bower & Associates.
- Represented CollegePlace Partners, LLC in connection with their refinance of an 8 property portfolio near Florida State University in Tallahassee, Florida. The refinance involved paying off three separate lenders and securing two new loans from Berkadia Commercial Mortgage, LLC, as agent for Fannie Mae, in the amounts of $11,945,000 and $5,775,000.
- Represented co-lenders Mosaic Real Estate Investors and Watt Funding REIT, LLC, as Lender’s counsel, in connection with a $28,000,000 senior loan made to Parklands Ventura, LLC for the purpose of refinancing and existing land loan, and to fund the development of certain land located in Ventura County for residential use.
- Represented United El Segundo, Inc. and four of its affiliates in connection with a $60,000,000 fixed-rate loan from First Republic Bank secured by three commercial properties and 10 multifamily apartment projects in West Los Angeles and Santa Monica. The lender was represented by Reed Smith LLP.
- Represented Orchid Heights LLC, a subsidiary of Cores Management, Inc. in connection with the refinancing of a multifamily apartment project in the Canoga Park area of Los Angeles, CA, with a $22,901,000 floating-rate loan from CBRE Capital Markets, Inc. to be assumed by Freddie Mac. Pepper Hamilton LLP was lender’s primary counsel while Kutak Rock LLP represented the lender with respect to the interest rate cap.
- Represented Cherry Heights, LLC, a subsidiary of Cores Management, Inc. in connection with the refinancing of a multi-family apartment project in Moreno Valley, CA, with a $30,140,000 fixed-rate loan from CBRE Capital Markets, Inc. to be assumed by Freddie Mac. Pepper Hamilton LLP was lender’s primary counsel while Reiferson Dee PLC represented the lender with respect to the non-consolidation opinion.
- Represented NextGen Apartments LLC in connection with the $9,485,000 refinancing of the Rosedown Apartments, a 108 unit apartment complex located at 6500 47th Street, Sacramento, California 95823. Financing was provided by Greystone Servicing Corporation, Inc./Fannie Mae who was represented by Cassin & Cassin LLP. The refinancing included the defeasance of a loan held by CitiBank, N.A., as Trustee for the registered holders of Deutsche Mortgage & Asset Receiving Corporation, Multifamily Mortgage Pass-Through Certificates, Series 2011-K16 who was represented by Polsinelli.
- Represented Tanglewoods Apartments LLC, an affiliate of The Lighthouse Group, LLC, in connection with its refinancing of a 772-unit apartment complex in Indianapolis, Indiana, commonly known as The Legend at Speedway. The $26,700,000 loan was originated by Berkeley Point Capital LLC dba Newmark Knight Frank on behalf of Fannie Mae. The lender was represented by Pepper Hamilton LLP.
- Represented RC Acquisitions (“RCA”) in connection with the modification of two existing loans with Citibank, N.A. (“Lender”) covering RCA’s properties located at 131 S. Maple Drive, Beverly Hills, California and 9955 Durant Drive, Beverly Hills, California. The modification facilitated RCA’s $80,000,000 acquisition of the Linea Apartments located at 215 West Lake Street, Chicago, Illinois. The Lender was represented by Real Estate Law Group, LLP.
- Represented Lyon Living in connection with the refinancing of an existing loan (senior and mezz) on “The George”, a residential apartment community located in Anaheim, California. The refinancing consisted of a $95,600,000 senior loan from HFF (represented by Moss & Barnett), and a $11,520,000 preferred equity investment from Fundrise West Coast Opportunistic REIT, LLC (represented by Ballard Spahr).