Gary S. Kleinman is a commercial real estate attorney with wide-ranging experience in virtually all aspects of real estate law, including financing on behalf of borrowers and lenders, debt restructuring and workouts, land acquisition and development, dispositions of commercial, industrial and residential real estate, the acquisition and disposition of multi-asset portfolios of loans and real properties and leasing.
Areas of Concentration
· Debt restructuring and workouts
· Acquisitions and dispositions
· Loan and real property portfolio transactions
· Partnerships and joint ventures
· Mortgage and mezzanine financing
· Preferred equity investments
Professional & Community Involvement
· Member, American Bar Association
Awards & Recognition
· Listed, The Best Lawyers in America, Real Estate Law, 2009-2014
· Listed, Chambers USA Guide, 2010-2013
· Listed, Super Lawyers magazine, New York Super Lawyers, 2009-2013
· Team Member, The Legal 500 United States, "Top Tier" Firm in Real Estate, 2013
· Member, Winning Team, Chambers USA Award for Excellence, Real Estate, 2010 and 2013
· Team Member, a Law360 "Real Estate Practice Group of the Year," 2011 and 2012
· Listed, The Legal 500 United States, 2009 and 2012
· Listed, AVENUE magazine "Legal Elite," Real Estate Law, April 2011
· Rated, AV Preeminent® 5.0 out of 5
· Acquisition by a joint venture between affiliates of Square Mile Capital Management, LLC and Invesco, Ltd. of a portfolio of loans from Bank of America having an aggregate outstanding principal balance of approximately $880 million and consummation of acquisition financing with JP Morgan Chase Bank, N.A.
· Sale by an investment group led by BLDG Management Co., Inc. of the property located at 1372 Broadway, New York, NY, for approximately $330 million, which sale was effected in two separate transactions (i.e., the sales of a fee interest and a leasehold interest) following the creation of a long-term ground lease covering the entire premises.
· Preferred equity investment, effected in two separate tranches, by affiliates of SL Green Realty Corp., in a New York City office property, which investment was closed contemporaneously with the acquisition of the property and the origination of a first mortgage loan.
· Preferred equity investment by an affiliate of SL Green Realty Corp., in a New York City office property, which investment was closed contemporaneously with the acquisition of the property and the assumption of a securitized first mortgage loan.
· Acquisition by a joint venture between affiliates of Square Mile Capital Management, LLC and Blackstone Group of a portfolio of mortgage loans from the FDIC having an outstanding principal balance of approximately $385 million and consummation of a refinancing of the portfolio with JP Morgan Chase Bank, N.A.
· First mortgage loan in the amount of $170 million made by an affiliate of a U.S. pension fund advised by Emmes Asset Management Company, LLC, together with UBS Real Estate Securities Inc., to finance the acquisition of the property known as 70 Pine Street, New York, NY.
· Representation of Square Mile Capital Management, LLC in its acquisition of a controlling interest in a portfolio of $420 million in real estate loans originated by Silverton Bank. Square Mile Capital will own a 40 percent stake in the assets, consisting of 57 loans largely secured by limited service hotels located throughout the country. The FDIC retained the remaining 60 percent in the public private partnership and provided financing for the acquisition.
· Representation of Square Mile Capital Management, LLC and Garrison Investment Group in the acquisition of interests in defaulted mortgage and mezzanine loans and the resolution of such defaulted loans leading to the ultimate acquisition of the 17 hotel properties in multiple states that were secured by such defaulted loans.
· Representation of Square Mile Capital Management, LLC in a joint venture with Ram Asset Management and the subsequent acquisition through a bid of a discounted portfolio of 39 distressed loans on retail properties in 8 states from LNR Property Corp. The acquisition was followed by the closing of a repurchase facility with Wells Fargo Bank.
· Extension and restructuring of the $177 million mortgage loan facility on the Atlantic Yards Project in Brooklyn, New York on behalf of Gramercy Capital Corp.
· Sale by affiliates of SL Green Realty Corp. and Gramercy Capital Corp. for $230 million of the ownership interests in the entities that own the commercial condominium units at 55 Corporate Drive, Bridgewater, New Jersey.
· Joint venture on behalf of SL Green Realty Corp. with affiliates of SITQ (Caisse de depot et placement du Quebec) in connection with the acquisition of the property located at 388-390 Greenwich Street, New York, New York and consummation of $562 million mezzanine financing.
· Preferred equity investment by affiliates of BLDG Management Co., Inc. in the property located at 1414 Avenue of the Americas, New York, New York.
· Acquisition and restructuring on behalf of BLDG Management Co., Inc. of the $34 million mezzanine loan on the property located at 220 East 63rd Street, New York, New York and subsequent negotiation of a joint venture agreement with the owner.
· Consummation by Gramercy Capital Corp. of a deed-in-lieu transaction involving the Hotel Montgomery, San Jose, California and subsequent sale and purchase money mortgage financing of the property.
· Acquisition by affiliates of SL Green Realty Corp. and Gramercy Capital Corp. of a $200 million mezzanine loan originated in connection with the acquisition financing of the Peter Cooper Village and Stuyvesant Town projects in New York City.
· $65 million participating preferred equity investment by affiliates of SL Green Realty Corp. and Gramercy Capital Corp. in a Class A Manhattan office tower.