Steve Bassin represents hotel, resort, shopping center and other mixed-use real estate developers. His real estate experience includes negotiation and implementation of all aspects of acquisitions, leasing, financing and structuring.
Areas of Concentration
· Real estate financing
· Real estate acquisitions
· Development and construction
· Ownership structuring
· Hotel operating agreements
Professional & Community Involvement
· Member, American Bar Association
· Member, Broward Real Estate Investors Association
· Member, Dade County Real Estate Investors Association
· Member, Russian American Chamber of Commerce South Florida
Awards & Recognition
· Selected, Daily Business Review, "Top Dealmakers of the Year - Real Estate Finance Category," 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
· Represented developer in an assemblage and acquisition of approximately 20 acres on Las Vegas Boulevard in Las Vegas, Nevada. The representation also included the negotiation of $475 million CMBS construction loan and subsequent foreclosure and prepackaged bankruptcy of the developer.
· Represented a joint venture of institutional clients in acquisition of a non-performing loan portfolio in excess of $1 billion secured by hospitality properties.
· Represented a joint venture of institutional clients in acquisition of approximately $900 million in non-performing loans secured by industrial and office properties.
· Represented developer in structuring, leasing and financing an entertainment attraction and retail project in Orlando, Florida. The $150 million financing consisted of a fee mortgage, leasehold mortgage and a leveraged lease component with an affiliate of the leasehold lender. The representation also included the negotiation of several anchor tenant leases, a management agreement with the operator of an entertainment attraction, and all property easements and covenants necessary for the project.
· Represented an equity firm in multiple acquisition transactions of industrial and other income producing commercial properties in several states, with the aggregate of such transactions in excess of $500 million.
· Represented developer in acquiring the Shelborne Hotel on Miami Beach, Florida. In connection therewith, represented the developer in acquisition and construction financing in the aggregate of $125 million and negotiated the hotel management agreement with a major brand.
· Represented major South Florida auto dealership group in connection with approximately $200 million in floor plan, secured lines of credit, construction and mortgage financing transactions.
· Represented owner of a designer shoe brand in negotiation of a worldwide license agreement, an asset sale agreement, and several retail and office lease negotiations.
· Represented developer in acquiring, structuring and entering into a $75 million construction financing for re-development of a site in Orlando, Florida containing an existing hotel. In connection therewith, negotiated the hotel management agreement with a major hotel brand and several leases with large retailers.
· Represented developer in a $50 million construction financing to reposition the property into a first-of-a-kind Virgin-branded hotel in Chicago, Illinois.
· Represented developer in $110 million CMBS refinancing for a shopping center on Las Vegas Boulevard in Las Vegas, Nevada.
· Represented developer in a $117.5 million construction financing for a shopping center in Las Vegas, Nevada. The financing contained a sale/leaseback component, in which the developer agreed upon completion of the project to convey a portion of the fee leased to the retail "anchor" to an affiliate of the lender. The representation also included negotiation of several leases with major tenants, preparation of a form lease and drafting and negotiation of all property easements and covenants.
· Represented developer in an acquisition and approximately $100 million construction financing consisting of a secured tranche and a mezzanine tranche for a condominium project on South Beach, Florida.
· Represented client in the approximately $70 million acquisition and construction financing for the Pelican Beach Hotel in Fort Lauderdale, Florida.
· Represented marina operator firm in negotiations to acquire and to joint venture with a South Beach marina operator valued at approximately $150 million.
· Represented secured creditor in Bankruptcy proceeding in acquiring title to a hotel and convention center. The representation also included support to litigation colleagues in obtaining a personal judgment against the non-recourse guarantor in excess of $100 million.
· Represented equity partner in a joint venture and acquisition at discount of approximately $50 million of non-performing debt secured by a failed condominium project in Miami, Florida.
· Represented equity partner in a joint venture and acquisition of land for $21 million for the construction of a condominium project in Miami, Florida.
· Represented developer in an acquisition of approximately $20 million of non-performing debt secured by a hotel property in Orlando from a financing institution. The representation also included negotiation of acquisition financing from said financial institution.
· Represented owner of a boutique hotel in Long Key, Florida, in several financing transactions aggregating approximately $15 million.
· Represented a Latin American fund in a joint venture with a local developer formed to acquire hotels in South Beach, Florida.
· Represented developer in evaluating the acquisition of the Setai Hotel in Miami Beach, Florida.
· Represented institutional client in evaluating the acquisition of the Gansevoort Hotel in Miami Beach, Florida.
· Represented private equity firm in acquiring and financing the acquisition of the Raleigh Hotel in Miami Beach, Florida.
· Represented owner of "big box" shopping center in Las Vegas, Nevada in a $50 million CMBS re-refinancing.
· Represented client in a $35 million acquisition and construction financing for a hotel in Miami Beach, Florida.
· Represented developer in acquisition of an existing apartment building and $25 million financing to redevelop the building as an annex to existing hotel in Miami Beach, Florida.
· Represented client in several purchase and lease back transactions of bank branch locations opposite a local bank totaling approximately $15 million together with acquisition financing for such purchases.
· Represented developer in acquisition and development of luxury Caribbean resort in Anguilla, including negotiation of leases and concessions with Government of Anguilla, and hotel operating agreements with various luxury international brands.
· Represented majority owner of public company focused on lithium-ion battery technology and energy in obtaining $80 million financing from Eastern European state bank.
· Represented various prospective developers in evaluating viability of projects and legislation in jurisdictions of Barbuda, Anguilla and Bahamas.
· Represented developer in the acquisition of an existing hotel in Harbour Island, Bahamas and in the $21 million acquisition and construction financing. The representation also included drafting of property covenants, and purchase and sale agreements for sale of homes to third parties.
· Represented developer in evaluating the purchase of Emerald Bay located in the Great Exuma, Bahamas.
· Represented developer in evaluating the purchase of land in Mayaguana, Bahamas for development and sale of luxury residences.
· Represented developer in evaluating the purchase and joint venture with a Bahamian owner group of a large portion of Cat Island, Bahamas.
· Represented cruise line in negotiation of a port lease in Haiti.
· Represented financial institution in a mortgage loan transaction with respect to a property in Long Bay, Bahamas.
· Represented equity firm in evaluating an investment and joint venture with a developer of a luxury residential project in Norman's Cay, Bahamas.
· Represented several high-net-worth individuals in acquisitions of lots and homes in the Bahamas.