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Attorneys close two sophisticated, multi-million dollar real estate transactions

Steven L. Daniels


Joel M. Hurwitz

Robert J. Taylor

 

 

 

 

West Palm Beach Partner Steve Daniels recently closed two significant real estate transactions.  In the first transaction Steve represented the borrower in the $53.5 million refinancing of 17 separate properties in three different Florida counties that were secured by two mortgages and a mezzanine financing.   Assisting Steve in completing the transaction was West Palm Beach Paralegal Dana Walkup and Chicago Partner’s Joel Hurwitz and Robert Taylor . In addition to the real estate issues involved, there were 15 borrowing entities with multi-layered ownership that required a very complicated non-consolidation legal opinion.In the second transaction, Mr. Daniel’s  represented the lender in the consolidation and then bifurcation and loan assumption of two loans totaling $11.5 million secured by a golf and country club in Palm Beach County. It required consolidating two bank notes into one and then bifurcating them so that two bank loan participants could restructure their relationship as a first and second lender and then have both loans assumed by the purchaser of the Country Club’s assets.