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Drew F. Barone focuses his practice on complex commercial real estate and alternative asset financing transactions. Drew represents financial institutions and borrowers in a variety of real estate and asset-based finance transactions, including commercial fee and leasehold mortgages, construction and development financing, commercial real estate lending and borrowing across a wide array of real estate asset classes, and commercial asset-based loan facilities secured by alternative assets, including fine art, aircraft, hedge fund interests, private equity interests, and other forms of collateral. Drew also represents developers, owners, operators, private equity funds, and investors in all phases of commercial real estate acquisition and disposition transactions from contract negotiation through closing.

Capabilities

Experience

  • Represented lender in connection with a $284 million construction loan facility structured as a mortgage loan consisting of senior, building, and project loans secured by a residential condominium located in Brooklyn, New York, as well as, a mezzanine loan secured by the limited liability company interests in mortgage borrower. The transaction was additionally complex as it involved (i) amending and restating an existing building loan (severing the funded and unfunded portions), and (ii) a senior participation from a real estate private equity fund.
  • Represented lender in connection with a $237 million construction loan facility structured as a mortgage loan consisting of senior, building, and project loans secured by a residential condominium located in Manhattan, as well as, a mezzanine loan secured by the limited liability company interests in mortgage borrower. The transaction was additionally complex as the senior leverage was provided via a note-on-note from an American federally chartered savings and loan association.
  • Represented lender in connection with a $77 million construction loan facility structured as a mortgage loan consisting of senior, building, and project loans secured by a to be constructed hotel located in Manhattan, as well as, a mezzanine loan secured by the limited liability company interests in mortgage borrower. The transaction was additionally complex as it involved a senior participation from an American federally chartered savings and loan association.
  • Represented lender in connection with a $52 million construction loan facility structured as a mortgage loan consisting of land, building, and project loans secured by a to be constructed eight-story residential condominium building containing units for sale and a to be constructed eight-story mixed use condominium building containing residential and commercial units for rent located in Queens, New York. The transaction was additionally complex as it involved (i) negotiating and coordinating participations in the construction loan facility from a syndicate of lenders, (ii) securing, as additional collateral for the loans, certain New York Brownfield Cleanup Program Tax Credits associated with the environmental remediation of the real property, and (iii) New York City’s 421-a tax exemption program and Mandatory Inclusionary Housing program components.
  • Represented lender in connection with a $42 million refinancing of borrower’s sprawling shopping center located in Plano, Texas. The transaction involved complex leasing due diligence.
  • Represented lender in connection with a $31 million construction loan facility secured by a to be constructed 133-unit multifamily residential townhome and apartment complex located in Salt Lake City, Utah.
  • Represented lender in connection with a $13 million loan secured by real property located in Atlanta, Georgia, consisting of recording studios utilized by Netflix and major recording artists.
  • Represented lender in connection with a $10 million construction loan facility secured by a to be constructed hotel located in Turks & Caicos. The transaction was additionally complex as it involved (i) securing collateral located in Turks & Caicos consisting of Debentures and the pledge of equity interests in Turks & Caicos and British Virgin Islands companies, and (ii) negotiating the subordination of many existing note holders that provided financing for the development project in favor of our lender client.
  • Represented real estate investor in connection with the $277 million acquisition and $240 million financing obtained from a syndicate of lenders for the client’s purchase of a 75% stake in a commercial office building located in Flatiron, Manhattan.
  • Represented joint venture purchaser in connection with the $180 million acquisition of a commercial condominium property located in Queens, New York.
  • Represented joint venture purchaser in connection with the $128 million acquisition of a commercial condominium property located in Brooklyn, New York. The transaction involved complex leasing and condominium due diligence, as well as, acquisition financing from a publicly traded real estate investment trust.
  • Represented joint venture purchaser in connection with the $60 million acquisition of an assemblage of mixed-use adjoining properties located in Manhattan. The transaction was additionally complex as it involved planning and due diligence for the client’s demolition and ground-up construction for its new mixed-use building.
  • Represented real estate development firm in connection with the $30 million acquisition and $49 million construction financing for the client’s development of a waterfront residential condominium complex located in Miami, Florida.
  • Represented seller in connection with the $20 million sale of its commercial office building located in the heart of the Scarsdale Village in Scarsdale, New York.
  • Represented borrower in connection with the $18 million refinancing of its commercial office building located in White Plains, New York.
  • Represented commercial landlord in connection with the negotiation of a lease for a 61,000 square foot warehouse located in New Jersey to a shipping and logistics company.
  • Represented tenant, a national retailer, in connection with lease amendments seeking rent relief and other concessions due to the Covid-19 pandemic at over 700 of their locations throughout the country.

°Certain of the above representations were handled by Mr. Barone prior to his joining Greenberg Traurig, LLP.    

Recognition & Leadership

  • Team Member, Chambers USA, Real Estate Law Firm of the Year, 2022
  • Member, Westchester County Bar Association, Real Property Section
  • Member, New York Bar Association, Real Estate Financing Committee
  • Counselor, Exceptional Citizen’s Week at Camp Fatima, a summer camp for children and adults with intellectual or physical disabilities

Credentials

Education
  • J.D., Seton Hall University School of Law
  • B.S., Rutgers University, School of Environmental and Biological Sciences
Admissions
  • New Jersey
  • New York
Languages
  • Italian, Conversational