Adler & Stachenfeld elevates Rothstein and Carpinello
Manhattan, NY Adler & Stachenfeld LLP (A&S) have elected two new partners. Jonathan Rothstein and Matthew Carpinello will serve as partners within the firm’s joint venture (JV) and finance practice groups.
“Our best-in-class talent has always been our greatest strength,” said Terri Adler, managing partner of Adler & Stachenfeld. “As we continue through a volatile period for the real estate industry, Matt and Jon’s growing deal and industry expertise is absolutely critical. Our clients can rest assured no one knows the market and the opportunities it holds better than the Adler & Stachenfeld team.”
As associates, Rothstein and Carpinello worked across various practice areas at A&S, providing counsel to leading real estate investors, developers, and lenders on structuring joint-venture partnerships, financing deals, and other transactions. Rothstein’s work falls most heavily in the firm’s joint ventures/corporate real estate practice group, helmed by Christopher Gorman and Kim Le; Carpinello works extensively within A&S’ finance practice group, led by Ilya Leyvi.
Rothstein’s practice focuses on corporate real estate transactions, where he regularly represents private equity funds, family offices, institutional investors, sponsors, developers, managers, and operators in connection with sophisticated joint venture arrangements. Notable transactions include:
• Advising on the assemblage, financing, and eventual sale of a portfolio of manufactured housing sites across multiple states valued at over $2 billion.
• Advising on the formation of programmatic ventures to acquire industrial service facilities across multiple states, with initial capital commitments of over $550 million.
“I have learned a tremendous amount from Chris, Kim, and the entire leadership team, and it is a real honor to be named partner at the firm where I started my law career,” said Rothstein. “From day one at Adler & Stachenfeld, I could feel the energy and momentum. A decade later, that same commitment to excellence is still palpable. I couldn’t be more excited about this next step in my career.”
Rothstein joined A&S in 2014 as an associate. He graduated from Columbia Law School, where he was a Harlan Fiske Stone Scholar and served as an articles editor for the Columbia Journal of Tax Law.
Carpinello’s practice focuses on the representation of real estate funds, mortgage REITs, banks, sovereign wealth funds, owners, developers, operators, and other financial institutions in the origination of securitized loans, syndicated loans, construction loans, mezzanine loans, and preferred equity investments across all real estate asset classes, including transactions that involve multi-tiered inter-creditor arrangements and senior/subordinate (A/B) notes and participations. Notable transactions include:
• The representation of a sovereign wealth fund as the borrower on the simultaneous origination of six loans with six different lenders. The deals totaled over $4 billion of loan proceeds and were secured by over 290 industrial assets located across the United States.
• The representation of a family office in obtaining a $388 million mortgage and mezzanine loan secured by a luxury condominium development located in New York City.
“Adler & Stachenfeld is the largest law firm devoted solely to real estate law, and this unique focus permeates the culture and elevates the level of counsel we provide our clients,” said Carpinello. “I am humbled to be a part of such an esteemed group at this critical moment for the real estate sector, contributing to our collective expertise and shaping the future of the organization.”
Carpinello joined A&S in 2016 as an associate. He graduated from the George Washington University Law School, where he graduated with Honors and was a George Washington Scholar. Carpinello also served as a member of The George Washington International Law Review.
The promotions are the latest in a series of strategic hires and appointments at A&S. Other recent additions include Ashley Doukas, chair of the firm’s Land Use and Zoning Practice Group, Barbara Shachnow, a partner in the Finance Practice Group; Mitchell Snow, a partner in the Tax Practice Group; and Joseph Kornbluh, a partner in the Corporate Real Estate/Joint Venture Practice Group. Last fall also saw A&S welcome its newest class of first-year associates.