Mark Frimmel

Acquisition: Represented a pair of limited liability companies in their purchase of a 320-bed nursing home located in Brooklyn, New York, and then again in connection with an associated $56.5 million first mortgage loan and a $4.85 million second mortgage loan made by a syndicate of banks led by Bank of America, N.A. and Israel Discount Bank of New York.

Acquisition: Closed a leveraged buyout of a 499-bed nursing home in Manhattan (Dewitt Rehab) for $105 million, including a $90 million bridge to HUD from KeyBank. The property is located on the Upper East Side of Manhattan and has always been looked upon as the most significant site in Manhattan available for eventual redevelopment into condominiums.

Commercial Financing: Represented a lender in connection with a $27 million mortgage loan to a 625-unit residential cooperative building in the city of New York.

Commercial Real Estate: Represented the purchaser in connection with the $54 million acquisition of land improved by a 280-bed nursing home in Suffolk County, New York.

Commercial Leasing: Represented the landlord in connection with a 25,000 square foot lease in New Jersey for a service and parts center for the manufacturer of electric cars.

Commercial Leasing: Represented sub-sublandlord in connection with the sub-subleasing of 55,758 square feet of office space in Manhattan in a transaction with an aggregate rent in excess of $20 million.

Commercial Leasing: Represented the tenant, a major Hollywood film studio, in connection with its leasing of three film production stages, 30,000 square feet of office space and 15,000 square feet of shop space at a film production complex being constructed in Yonkers, New York with an aggregate rent in excess of $33 million.

Commercial Leasing: Represented the landlord, a religious institution, in connection with the leasing of a building and access easements for a photographic gallery, dining and café space in Manhattan.

Commercial Real Estate: Represented the seller in connection with the sale of a of a state of the art equine veterinary hospital in Nassau County, New York.

Credit Facility: Structured and closed a $13 million credit facility for a large emergency and inpatient medical group. The complex and challenging transaction involved thirty-three separate entities, four different banks, across seven states, and the avoidance of a potential $100,000.00 contractual penalty.

Rehabilitation Facility – Sale: Closed the sale of two nursing homes in New York for the combined sale price of approximately $93 million. This was a complex deal that included escrowing the proceeds of the real estate portion of the transaction into a qualified intermediary for the upcoming purchase of two newer Brooklyn nursing homes, and was the last of three associated deals, one of which involved a very complicated 1031 tax free exchange for the combined sale price in the neighborhood of$129 million.

RehabilitationFacility-HUDRefinance: Closed the largest HUD-insured loan ever on a single building in the United States. The loan, having a principal amount of approximately $127 million, was in connection with the refinancing of health care facility in New York City.Notably, the refinance transaction was threatened at the 11th hour given a Certificate of Occupancy issue. Nevertheless, after days of diligent research and negotiation by our attorneys, the matter was resolved and the closing was able to proceed as scheduled.

Structured Financing: Represented a leading aviation services platform and top ten charter operator in a refinancing transaction resulting in it raising $60 million in equity and debt to fund a number of strategic initiatives.