Kasowitz’s transactional real estate group represents, among others, developers, private and institutional investors, opportunity funds, real estate investment trusts (REITs), lenders and servicers, and major corporations in connection with real estate-related matters.
The firm’s attorneys have extensive experience in development of office buildings, shopping centers, residential properties, hotels and casinos, and mixed-use projects throughout the United States; acquisitions and dispositions of single properties and property portfolios; acquisitions and participations of mortgage and mezzanine debt; workouts and restructurings on behalf of borrowers and lenders; financings of real estate properties and projects on behalf of borrowers and lenders; sale-leaseback transactions; office, restaurant and retail leasing on behalf of landlords and tenants; partnership agreements, LLC agreements, and other forms of joint ventures; real estate fund formation and REITs; and gaming and lodging.
Notable representative transactions handled by the real estate group since July 2011 include:
Capital Markets and Financings
- Starwood Capital Group, in connection with the acquisition and participation of mezzanine debt.
- New Valley, in connection with a joint venture to acquire mortgage debt secured by a portfolio of California office properties and a joint venture to acquire a multi-family portfolio in Maryland.
- New Valley, in connection with a reverse repo financing facility.
Leasing and Development
- DLJ Real Estate Capital Partners, in connection with the development of commercial properties located in New York City.
- Boston Properties, in connection with 250 West 55th Street and 601 Lexington Avenue, New York.
- Forest City Ratner Companies, in connection with One Pierrepont Plaza and 1 MetroTech Center in Brooklyn, New York.
- Extell Development Company, in connection with the GEM Tower on East 47th Street, New York.
- New Valley, in connection with a joint venture investment in a residential project on East 68th Street, New York and a joint venture investment to convert an office building to residential in Tribeca.
- LTS 711 11th Avenue LLC, in connection with the Chrysler dealership on 11th Avenue, New York.
- Atlas Capital, in connection with retail and office leasing at 641 Avenue of the Americas and 216 West 18th Street, New York.
- Knight Capital Group, in connection with office leasing in various locations in New York, New Jersey and Connecticut.
Acquisitions and Dispositions
- Africa Israel, in the $165 million sale of the Clock Tower Building at 5 Madison Avenue, New York.
- DLJ Real Estate Capital Partners, in the acquisition of commercial properties in New York City.
- Starwood Capital Group, in connection with the acquisition of the leasehold interest at 1372 Broadway, New York.
Gaming and Lodging
- Intercontinental Hotels Group, in connection with the Crowne Plaza Hotel in Times Square, New York.
- Penn National Gaming, in connection with a proposed gaming project in Maine.
- DLJ Real Estate Capital Partners, in connection with the development of a boutique hotel in New York City.
- Starwood Capital Group, in connection with the acquisition of debt related to the Standard Hotel in New York City.
- GFI Capital, in connection with a joint venture to develop a hotel in New York City.
Tenant Representation
- Havas Worldwide, in connection with its New York City headquarters lease.
- Société Générale, in connection with its New York City headquarters lease.
- Major League Baseball, in connection with leasing of office space in New York City.
Workouts and Restructurings
- Borders Group, Inc., with respect to the disposition of real estate assets throughout the country in connection with its bankruptcy and liquidation.
- GFI Capital, in connection with the restructuring of certain real estate assets in New York City and Palm Springs, California.
- Capital Trust, in connection with the restructuring of a mezzanine loan, and a mortgage loan secured by property located in Miami, Florida.
- DLJ Real Estate Capital Partners, in connection with the modification of mortgage debt secured by a resort hotel in the Caribbean.