Name: Miles Borden
Company: Seyfarth Shaw LLP
What was your greatest professional accomplishment in 2019?
Continuing to help my clients’ source deals, raise equity and debt for their transactions, and make informed business decisions. Being a key player on their teams by adding value beyond the expected sound legal advice.
What was your most notable project, deal, or transaction in 2019?
Represented Mack-Cali Realty Corporation in the $487.5 million sale of its 56-building, 3.1 million s/f office/flex portfolio located throughout Westchester County and in Stamford, CT. A portion of the consideration was a redemption of operating partnership units. Proceeds from the sale were used to repay $210 million of unsecured debt.
What are your predictions for commercial real estate in 2020?
A steady market in most sectors and geographic locations supported by low interest rates, an abundance of investment capital and a desire to recapitalize properties via joint ventures and refinancing. Development should remain strong, except for high-end residential properties. Capital will continue to move outside of gateway cities in pursuit of higher returns.