Matthew S. McElroy represents private equity funds, developers and institutional and private lenders and investors in a broad range of real estate transactions.
Matthew has significant experience in the origination of mortgage, mezzanine and construction loans across all real estate asset classes. He regularly counsels lenders on loan sales, purchases and syndications, including intercreditor and co-lender arrangements.
He has been recognized by New York Real Estate Journal and Best Lawyers on their Ones to Watch lists.
Work Highlights
- KT Capital Group in the closing of a $40 million EB-5 loan to Fortuitous Partners to fund the construction of the Tidewater Landing stadium, home to the Rhode Island FC, a professional soccer club in the United Soccer League (USL) Championship.
- Cottonwood Group in the closing of a $240 million senior mortgage financing to Cronin Development for the St. Regis Residences, a 114-unit luxury condominium tower in Boston’s Seaport District.
- Cottonwood Group in the closing of a $180 million construction loan to Five Points Development to build New York’s skinniest residential skyscraper at 262 Fifth Avenue in New York City.
- F&T Group in the closing of a $57.1 million refinancing for Queens Crossing, a mixed used commercial development in Flushing, Queens. The loan covers 17 commercial condo units totaling over 200 thousand square feet, with TD Bank and New York Life Insurance among the property’s tenants.
Prior to joining Kasowitz:
- Dwight Mortgage Trust in numerous multifamily value-add and portfolio financings across the United States.
- Citibank in numerous tax and tax-exempt loans to finance the construction of affordable and market rate housing units across the United States involving low income housing tax credits.
- A private real estate developer in the acquisition, ground leaseback, and leasehold financing of a Class A office building.
- A global private equity fund in the origination of the construction financing for The Spiral office tower.
- A global private equity fund in the origination of mortgage loans secured by office buildings in the Pacific Northwest.
- A private developer in the restructuring and related deed-in-lieu transaction of a defaulted CMBS loan secured by a Class A office building in New York City.
- A global private equity fund in the origination and restructuring of a mezzanine loan secured by an interest in an office building in Manhattan.
- A French bank in a construction loan secured by a built-to-suit computer network and data center in Virginia and a separate pre-development loan for a hotel and condominium development in Miami.
- A global private equity fund in numerous matters, including a re-development loan secured by a landmarked office building in Chicago, Illinois, a mortgage loan secured by office buildings located in Manhattan, and a bridge loan for the acquisition and redevelopment of an office building in Boston, Massachusetts.
- A national insurance company in the origination of various mortgage loans, including an acquisition mortgage loan secured by a combination of fee and leasehold estates in a ten property, four-state portfolio of grocery stores.
- A private equity debt fund in a sharia-compliant loan secured by an Amazon warehouse facility.
- A private equity debt fund in numerous financings and CMBS loan transactions, including a mortgage and mezzanine loan secured by a landmarked office building in New York City, and floating rate CMBS loans secured by super regional malls in the United States.
- A private equity debt fund in an acquisition and bridge loan secured by twenty-three flagged hotel properties in ten states, and a CMBS loan secured by a portfolio of Walgreens properties located throughout the Midwest.
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