Wallace L. Schwartz, head of Kasowitz’s real estate group, is active in all aspects of the firm’s real estate practice, including real estate development, acquisitions, leasing, partnerships and joint ventures, capital markets and financings, gaming and lodging, workouts and restructurings, and real estate funds.
Mr. Schwartz repeatedly has been selected for inclusion in Chambers USA: America’s Leading Lawyers for Business as well as New York Super Lawyers, including in 2012, and was listed in Legal Media Group’s Guide to the World’s Leading Real Estate Lawyers 2011. Additionally, Mr. Schwartz was highlighted by The Legal 500 2012 in the area of Real Estate, listed in The International Who’s Who of Real Estate Lawyers 2012 and recognized among Avenue Magazine’s “Legal Elite.”
Prior to joining Kasowitz in 2011, Mr. Schwartz was global head of the real estate group at Skadden, Arps, Slate, Meagher & Flom LLP.
Some of Mr. Schwartz’s recent key transactions 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 buildings and a joint venture to acquire a multi-family portfolio in Maryland; and
- New Valley in connection with a reverse repo financing facility.
Leasing and Development
- New Valley/Witkoff Group, in connection with the acquisition, joint venturing, financing and development of a mixed-use retail, signage and hotel project known as Times Square Gateway Center, at 701 Seventh Avenue, New York;
- DLJ Real Estate Capital Partners in connection with the acquisition and development of commercial properties in New York City;
- Boston Properties in connection with 250 West 55th Street, 399 Park and 601 Lexington Avenue, New York;
- Forest City Ratner in connection with One Pierrepont Plaza and 1 MetroTech Center in Brooklyn, New York; and
- Starwood Capital Group in connection with the acquisition of the leasehold interest at 1372 Broadway in New York City.
Gaming and Lodging
- Intercontinental Hotels Group in connection with the Crowne Plaza Hotel in Times Square;
- Penn National Gaming in connection with the development and joint venturing of the proposed Hollywood-branded destination casino resort in Springfield, Massachusetts; and gaming projects in Maryland, Pennsylvania and California;
- DLJ Real Estate Capital Partners in connection with the development of a boutique hotel in New York City; and
- Starwood Capital Group in connection with the acquisition of debt related to the Standard Hotel in New York City.
- Microsoft Corporation in connection with its New York City headquarters lease;
- Société Générale Group in connection with its New York City headquarters lease; and
- Major League Baseball Properties, Inc. in connection with a 142,000 square foot lease of studio space in Secaucus, New Jersey for the MLB television network.
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;
- Capital Trust in connection with the restructuring of a mezzanine loan, and a mortgage loan secured by property located in Miami, Florida; and
- DLJ Real Estate Capital Partners in connection with the modification of mortgage debt secured by a resort hotel in the Caribbean.
- Clarion Capital Partners in connection with a managed account for real estate investment in Brazil;
- Tishman Speyer Properties in connection with a real estate fund for real estate investment in Brazil; and
- BlackRock Realty Advisors, Inc. in connection with several international managed accounts and real estate funds.