riemerlawrealestate.com

Banking & Finance

Real Estate Lending | Business & Corporate Lending | Workouts

Riemer & Braunstein is best known for our banking and finance practice group, which has won widespread recognition for the firm and our attorneys throughout the United States. Banking and finance is the largest practice group in the firm with all four offices in Boston, New York, Chicago, and New Jersey focusing on three principal divisions: real estate lending, business and corporate lending, and workouts.

The firm regularly represents many major institutional and other lenders in Boston, New York, Chicago, and across the country. We handle both loans and workouts for our many clients in transactions ranging from middle market matters to large, complex syndicated or agented real estate or business loan transactions in which the client is the lead lender. We regularly deal with other parties involved in the same transaction, such as lenders, venture capital investors and landlords. Our practice includes diverse types of secured, unsecured, mezzanine and other loan transactions on behalf of our clients, including:

  • Real estate financing
  • Real estate acquisition financing
  • Secured and unsecured credit facilities
  • Asset-based lending
  • High tech lending
  • Leveraged buyout lending
  • Debtor in possession (DIP) financing
  • Exim financing transactions
  • Sports lending
  • Workouts, including related litigation, Chapter 11, and other bankruptcy proceedings and lender-proposed and supported third-party reorganization plans in Chapter 11
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Real Estate Lending

Our real estate finance attorneys are based in our Boston, New York, Chicago, and New Jersey offices, and primarily represent banks and financial institutions in financing the construction and development of office buildings, hotels, residential condominiums and apartments, and shopping centers throughout the United States. We have particular expertise in representing the agent or co-lenders in multi-lender real estate financing transactions. We are also active in the representation of mezzanine real estate lenders and in the representation of lenders in real estate portfolio and subscription financing. We participate in numerous industry organizations, and one of our partners, Joan Parsons, was president of CREW Boston, successor to New England Women in Real Estate 2010 - 2011.

Representative Transactions

  • Representation of the agent in a $525 million multi-lender senior portfolio facility involving the restructuring of a real estate holding company with a portfolio of approximately 250 properties
  • Representation of the agent in a $125 million multi-lender construction loan of a research laboratory facility in Cambridge, Massachusetts
  • Representation of the agent in a $260 million multi-lender loan involving the construction of a luxury high-rise condominium in Manhattan
  • Representation of the agent in a $316 million multi-lender loan involving the construction of a medical research facility in the Boston area
  • Representation of the agent in a $630 million multi-lender construction loan of a life style center in New York
  • Representation of the agent in a $600 million multi-lender loan involving the acquisition of a geographically diverse hotel portfolio
  • Representation of the lender in a $15 million mezzanine loan facility for the acquisition of six retail shopping centers in Pennsylvania
  • Representation of the agent in a $300 million subscription facility for a real restate acquisition fund
  • Representation of the lender in a $10 million mezzanine letter of credit facility to provide support for an 80/20 bond issuance in connection with a residential condominium conversion project in Manhattan
  • Numerous mortgage warehousing and servicing rights secured credit facilities to residential and commercial and multi-family mortgage banks
  • Representation of the agent in a $336 million multi-lender loan involving the construction of a hotel, residential condominium, luxury apartment and retail facility in the Boston area
  • Representation of the agent in a $100 million multi-lender secured line of credit to finance the acquisition by an investment fund of a diversified real estate portfolio
  • Representation of agent in a $150 million real estate secured revolving credit facility for a retail UPREIT
  • Representation of the agent in a $95 million multi-lender construction loan for the construction of a retail and office project in the Bronx, New York
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Real Estate Lending
Steven J. Weinstein
617-880-3503
sweinstein@riemerlaw.com


Business & Corporate Lending

Our business lending attorneys primarily represent commercial banks and other major lending institutions in structuring, documenting, and negotiating all types of unsecured and secured debt. Our attorneys also represent other institutional and non-institutional lenders in business and corporate loans. Our practice includes a broad spectrum of lending issues, including the representation of agents in complex multi-party, multi-lender financings. The borrowers cover a wide range of industries, including manufacturing, retail, technology, life sciences, and venture lending. Our practice often encompasses the structuring of loans for Tranche B and mezzanine lenders.

Attorneys in this practice area also represent our clients in loans to sports franchises, national retail companies, entertainment, broadcast and cable entities, and various types of specialty industry borrowers. They also help structure and represent our clients in debtor-in-possession financings.

Representative Transactions

  • Represented the agent in connection with $495 million financing for the acquisition and continuing working capital needs of a major national retailer
  • Counsel to the co-agent in connection with a $2 billion debtor-in-possession revolving credit facility to a major national retailer
  • $251 million senior secured borrowing base revolver and term loan facility to a lumber company secured by liens on 90 properties in 21 states
  • Counsel to the lead bank in the debt financing component of a public company subsidiary's acquisition of a multi-family mortgage bank
  • $110 million senior secured revolver to a pharmacy chain
  • Counsel to the agent in connection with a $200 million senior secured facility to a publicly traded multinational company with Canadian and European sub-facilities
  • $350 million senior secured revolver to a national sporting goods retailer including the coordination of mortgages in 19 multi-state locations
  • $20 million senior secured working capital line and equipment financing to multinational software company secured by assets located in the United States and various foreign jurisdictions
  • $160 million debtor-in-possession secured borrowing base revolver and term loan facility to a furniture company
  • Senior secured working capital and equipment loans ranging from $1 million to $70 million to private and public technology companies, including software, life science, and telecommunications firms
  • $15 million senior secured domestic working capital line of credit and equipment loan in conjunction with Export-Import Bank financing for international business
  • $12 million senior secured working capital and equipment loan for public life sciences company
  • $60 million senior secured working capital and real estate facility to a government defense contractor
  • $40 million senior secured working capital facility to a precious metals company
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Business & Corporate Lending
Donald E. Rothman
617-880-3556
drothman@riemerlaw.com

Business & Corporate Lending
Kevin M. Murtagh
617-880-3437
kmurtagh@riemerlaw.com


Workouts

Our workout attorneys represent lenders, syndicated lending groups, and acquirers of problem loans in both restructuring and liquidating troubled debt. The attorneys in this group handle asset-based loans, cash flow transactions, equipment leases, and real estate loans of all sorts, including hotels, shopping centers, office properties, and industrial property, among other things. Our practice ranges from middle market, single-lender loans to complex multi-lender participations and syndicated credits. The borrowers include a broad spectrum of industries, including manufacturing, retail, real estate development, high tech, and life sciences. We have substantial experience in enforcing the rights and remedies of our clients both in and outside of bankruptcy court proceedings. We regularly work with equity sponsors, restructuring advisors and auditors in order to assist our clients in maximizing recovery while mitigating risk.

Representative Transactions

  • Representation of the agent and the lenders in the ongoing resolution of a $1.5 billion dollar real estate facility secured by a portfolio of regional shopping malls and other real estate properties
  • Representation of the lender in the ongoing resolution of a $300 million acquisition and renovation loan in connection with a luxury residential condominium project in Manhattan
  • Represented first-tier secured creditors in connection with the wind-down and ultimate liquidation of a multinational apparel manufacturer
  • Workout and restructuring of a $25 million credit facility to a debtor involved in the steel fabricating business in a sale through the bankruptcy court
  • Workout and restructuring of an $80 million syndicated credit facility to a telecommunications debtor
  • Workout and restructuring of a $45 million credit facility to an air travel-related industry
  • Representation of the lender in a defaulted mezzanine loan with respect to a development project in Arizona and the sale of the ownership interest in the developer through a UCC secured party's sale
  • Represented the agent in the liquidation of $50 million syndicated facility effected through a sale of stock to a new entity
  • Represented the secured lender to an Internet company in a multi-million-dollar loan facility in connection with the wind-down of the business and the secured party sale of assets, including intellectual property
  • Represented the secured lender to a foundry business in a $1 million loan facility in adversarial proceedings to convert a Chapter 11 reorganization proceeding to a Chapter 7 liquidation and liquidation of company's assets, including the foreclosure sale of the foundry building
  • Represented various purchasers in connection with acquisitions of multiple loan pools from the FDIC and financial institutions
  • Counsel to equipment lessors in litigation in Bankruptcy Court
  • Representation of the agent in the successful resolution and full repayment of a defaulted $100 million dollar loan for the construction of a residential condominium project in Boston
  • Restructuring of a $120 million syndicated credit facility made to a multi-faceted debtor serving the automobile industry
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Workouts
Steven T. Greene
617-880-3520
sgreene@riemerlaw.com