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Another Major Ground Lease Financing

Published: March 25, 2005 | E-Mail

Meislik & Levavy has just completed yet another securitized financing for a developer client. The $45,000,000.00 loan was secured by a ground lease that underlies a large New York shopping center. Borrowing against a ground lease implicates a significant number of complex state law and bankruptcy issues not seen in fee mortgage transactions. Partner Ira Meislik and associate attorneys Steven Gellerstein and Jamile Drew made up the legal team that handled the entire transaction including restructuring two borrowing entities, augmenting the ground lease for increased financeablity, negotiating the loan documents, and defeasing an existing loan. Meislik & Levavy provides a broad range of legal services for commercial real property owners, tenants, and lenders.

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