Rosenberg & Estis, P.C. has closed nearly $1 billion in EB-5 construction mezzanine loans during the past 12 months in New York and beyond. The law firm served as lead counsel representing one of the preeminent NYC regional centers.Tags:
Eric Orenstein, member; Steven Goldberg, of counsel; Stefanie Graham, associate; and Brie Dorfman, associate, all of Rosenberg & Estis, served as lead counsel in seven loans ranging from $50 million to $250 million.
"EB-5 lending is an extraordinarily powerful tool for developers, providing greater control, a more attractive rate and greater long-term upside," Orenstein said. "There is enormous interest from sophisticated developers seeking to utilize EB-5 lending vehicles, and this financing option will continue to grow in power in the near future."
Rosenberg & Estis served as lead counsel to the EB-5 lender for a $175 million construction mezzanine loan for a redevelopment in Tribeca; a $100 million and a $250 million loan for a redevelopment in downtown Brooklyn; a $200 million loan for a mixed-use retail hotel project in Times Square; a $52.5 million loan for a redevelopment in Bryant Park; a $50 million loan for redevelopment in Jersey City, N.J.; and a $96 million loan for a development in Boca Raton, Fla.
Founded in 1975, Rosenberg & Estis, P.C. is widely recognized as one of New York City's pre-eminent real estate law firms. Rosenberg & Estis, P.C. represents clients in all aspects of real estate development, transactions, financing, litigation, rent regulation and governmental affairs.