inbound foreign investment: matters
Youngwoo - AIG Headquarters Acquisition
Representation of Youngwoo & Associates in acquiring the AIG headquarters building at 70 Pine Street and an adjacent building in Manhattan. A joint venture that included investors in Korea funded the $150 million purchase price, which established a new floor for commercial property values downtown.
Mizuho Corporate Bank - $1 Billion Mortgage Refinance
Representation of Mizuho Corporate Bank Ltd., largest bank in Japan, in a complex refinancing of approximately $1 billion in mortgage debt encumbering 650 Madison Avenue and 150 East 42nd Street (the Mobil Building) in New York, and 20 North Clark Street in Chicago.
Nathan Berman/International Investor - 63 Wall Street Acquisition
Representation of a joint venture between Nathan Berman and an international investor in its purchase of 63 Wall Street and a $70 million acquisition and construction loan from Corus Bank. We also represented the joint venture in obtaining historic tax credits allocable to 63 Wall Street by entering into a Historic Tax Credit Pass Through Agreement with Chevron TCI Inc. and, among other things, a related master lease and a master sublease.
Nathan Berman/International Investor - $143.8 Million Liberty Bond Acquisition
Representation of a joint venture between Nathan Berman and an international investor in acquiring $143,800,000 of tax and tax-free liberty bonds issued by the New York City Housing Development Corporation. In connection with the purchase of the liberty bonds, HDC provided a mortgage loan and construction financing, which was assigned as a senior credit facility to HSBC.