$228,400,000 Multi-State Apartment Portfolio Sale

Represented an affiliate of Hamilton Point Investments, a Connecticut-based investment fund which owns over 10,000 multifamily units across the United States, in connection with the $228.4 million sale of nine different multifamily projects in 6 different states. The transaction involved the sale of 2,352 units representing an all-in price of approximately $97,000 per unit. 

Represented a Connecticut-based investment fund in 15 multifamily acquisitions in 2017-2018 throughout the midwest and southeastern United States, totaling approximately $375 million.

Urban Style Flats

St. Petersburg, Florida

Represented the borrower in connection with an approximate $48 million mortgage and mezzanine financing provided by Acore Capital Mortgage. Roughly $10 million of the loan proceeds will be future advances for common area and unit renovations at this 481-unit apartment project. The property is operated by New York’s Atlas Real Estate Partners.

Represented Northeast Bank in connection with the closing of its $20,000,000 multiple advance credit facility to an affiliate of CV Capital Funding, a New York-based direct lender specializing in loans for acquisitions, discounted payoffs, lease-up stabilizations and other special situations. The facility is secured by a pledge of various collateral loans. Northeast Bank is a national lender that has purchased or originated over $1 billion in mortgage loans over the past 7 years.

$20,000,000 Credit Facility

Represented an affiliate of Connecticut-based Edgewood Capital Advisors in connection with its $6,000,000 mezzanine loan to the purchaser of The Breakers Hotel in downtown Long Beach, California. BOFI Federal Bank provided first mortgage financing in connection with the acquisition. Proceeds of the loan were used to acquire the existing 220-key hotel and pay for certain pre-development expenses in connection with the future re-positioning of the property to a 175-key luxury boutique hotel.

Breakers Hotel

Mezzanine Loan

Long Beach, California

Northville Woods Apartments 

Northville, Michigan

Represented an affiliate of Andover Real Estate Partners and M Group LLC in connection with the $35,150,000 acquisition and financing of Northville Woods Apartments, a 274-unit apartment project located in Northville Michigan. Berkadia Commercial Mortgage LLC provided $28,560,000 in mortgage financing in connection with this acquisition.

Days Inn

Scottsdale, AZ

Represented an affiliate of Connecticut-based Edgewood Capital Advisors in connection with its $27,000,000 mortgage loan to the owner of this 218-key hotel located in the Old Town Scottsdale area.  Proceeds will be used in part to renovate and transform the asset into an independent boutique resort hotel.

Ritz-Carlton 

Rancho Mirage, CA

Represented ownership in the closing of a $53,500,000 mortgage financing secured by this 5-star hotel overlooking Palm Springs, Coachella Valley and the San Jacinto Mountain Range.

Automation Parkway,

San Jose, CA

Represented the buyer in connection with a $42,220,000 acquisition financing of this office property operated by New York City-based Atlas Real Estate Partners LLC.

The Annandale Gardens,

Olive Branch, MS

Represented an affiliate of Hamilton Point Investments, a Connecticut-based investment fund which owns over 10,000 multifamily units across the United States, in connection with this $30,000,000 acquisition and financing of a 400-unit apartment project.

Residence Inn Hotel

Southern Pines, North Carolina

Represented an affiliate of Connecticut-based BPM & Company in connection with its $11,400,000 sale of the Residence Inn by Marriott located in Southern Pines, North Carolina.

LEGAL OPINIONS

Routinely issue New York enforceability and non-consolidation opinions  in connection with mortgage and mezzanine loans provided by capital markets lenders, banks and life companies

DUE DILIGENCE PROJECTS
  • Represented a national restaurant chain with respect to title/survey matters in connection with a $500+ million financing of 260 sites across the United States.

  • Represented an owner of cold storage facilities across the United State with respect to title/survey matters in connection with a mortgage financing of 50+ sites.

  • Represented a REIT with respect to title/survey matters in connection with a financing of 40 retail properties across the UniteD States

RECENT TRANSACTIONS

O'Halloran Ryan PLLC

275 Madison Avenue, 36th Floor

New York, New York 10016

phil@ohalloranryan.com