Jeffrey J. Wild

Lender’s counsel in connection with a real estate workout involving $100 million of loans secured by distressed assets including loan modification relating to additional collateral, inter-creditor issues and bankruptcy.

Benesch represents one of the nation’s largest multifamily housing developers in the ground leasing, financing, and development of a 430+ unit multifamily apartment complex within a large scale vertical mixed-use project including ground floor retail, office and hotel uses and subterranean parking facilities in a high profile redevelopment project in downtown San Antonio, Texas. Benesch is handling all aspects of the ground leasing, redevelopment, and debt and equity financing for the project. The project involves a complicated master lease structure with multiple subleases, a leasehold condominium regime and reciprocal easement agreements. Benesch is handling negotiation of the multi-layered sublease structure, which governs the public-private partnership among the city, through a public facilities corporation, the master developer and the client. The development is further complicated by the inclusion of public park facilities, a subterranean garage and other shared infrastructure that is integral to the master plan for the development.

Represented a real estate investment fund in its acquisition of seven commercial properties in northeast Ohio, with an aggregate purchase price of more than $150 million.

Represented one of the largest developers, owners and managers of multifamily residential property in country in the development and financing of a 330-unit multifamily apartment development near San Antonio, Texas, including multiple joint venture limited liability company agreements, $28+ million construction financing, $11.5 million mezzanine financing, a shared work infrastructure development agreement and multiple declarations of covenants, restrictions and easements related to the mixed-use development of which the apartment property is a part.

Represented a national banking institution with respect to loan workouts involving approximately $100,000,000 of loans secured by distressed real estate assets, including documentation of loan modification terms, handling negotiations relating to additional collateral, navigating inter-creditor issues and lending group concerns, and advising as to bankruptcy filing implications.

Represented a borrower in a $102 million CMBS loan secured by a large regional mall.

Represented a purchaser in the acquisition and financing of two separate multi-family portfolios. One transaction involved a 2,192 unit ten property portfolio consisting of multi-family affordable housing projects across four states for a purchase price in excess of $106,000,000. The other transaction involved a nine property portfolio of multi-family affordable housing projects located across three states for a purchase price in excess of $19,000,000.

Represented a publicly traded REIT in the approximately $400 million disposition of a 16-property multistate portfolio of shopping centers.

Represented a publicly-held REIT in the assemblage of over 100 acres of vacant land in connection with the development of an 800,000 square foot retail shopping center, and in all aspects of the development phase of the project.

Represented one of the nation’s largest multifamily owners in connection with numerous dispositions of apartment complexes throughout Michigan, having an aggregate transaction value in excess of $600 million. The sale transactions each included the defeasance of existing debt.

Represented a national multifamily investment firm in its sale and recapitalization of a $160+ million multifamily property in New England encumbered by Agency debt.

Represented a private developer in connection with the $43 million construction financing of a student housing development in Gainesville, Florida, as well as all aspects of a complicated joint venture structure with the main equity partner, a national leader in student housing management. Due to certain requirements of certain equity investors/owners undergoing tax deferred 1031 exchanges, it was necessary to setup the transaction as a tenancy in common structure, which involved a more complicated overall structure due to various considerations that had to be taken into account to comply with IRS rules and regulations, along with a tenancy in common agreement to document the foregoing, all of which complicated matters with our construction financing.

Represented the seller of a seven property market rate apartment portfolio in Florida for a sales price in excess of $103 million.

Represented a large, NYC-based private equity fund in the portfolio acquisition of numerous apartment communities located in Colorado.  The transactions involved roughly 1,350 units spread across multiple properties and was valued at approximately $225 million. Our representation included a complex restructuring and recapitalization of multiple joint ventures, navigating complex tax matters, and negotiating and documenting several existing loan assumptions.

Represented a multi-faceted redevelopment of an existing shopping center located in the Chicago, IL area that encompasses nearly 700,000 square feet. The project includes a land sale to a prominent national retailer that owns an adjacent parcel to allow for a store expansion by that retailer, as well as significant related site work.  Benesch is coordinating all aspects of the redevelopment and transaction for the client.