Marco P. Caffuzzi

Financing Transactions

Mr. Caffuzzi regularly advises clients in connection with financing transactions (on both the lender and borrower sides), loan workouts and restructurings, as well as the purchase and sale of existing mortgage and mezzanine loans. Examples of his lender representations include:

• JP Morgan Chase Bank, N.A. in connection with numerous loan transactions, including:
  • the $1.195 billion senior loan and $475 million mezzanine loan originated for the development of the American Dream mall in New Jersey. These loans were restructured via a strict foreclosure and loan modification in 2022
  • $455 million senior and mezzanine loans to an affiliate of W.P. Carey in connection with the spin-off of W.P. Carey’s net lease office portfolio
  • $270 million senior and mezzanine construction loans in connection with the development of a retail and entertainment complex in Las Vegas
  • $164 million senior and mezzanine construction loans in connection with the development of the Goodtime Hotel in Miami Beach, Florida
• Silverstein Capital Partners in connection with mezzanine and senior construction loans for several mixed-use development projects, including combinations of for-sale condominium units, rental apartments, retail, hotel, parking and other components, in numerous locations, such as:
  • $665 million senior and mezzanine construction loans for 9 Dekalb, Brooklyn’s tallest skyscraper
  • $700 million senior and mezzanine construction loans for a large mixed-use project in Bellevue, Washington
  • $80 million senior and mezzanine construction loans for a hotel and condominium development in Austin, Texas
  • $340 million senior and mezzanine construction loans for a hotel and condominium development in Miami
  • $118.5 million senior and mezzanine construction loans for hotel and condominium development in Turks and Caicos
  • the acquisition of a fully advanced $280 million senior and mezzanine construction loan for One Clinton in Brooklyn Heights, New York
• Brookfield Properties in connection with the potential workout and restructuring of mezzanine loans related to office properties in New York and Washington, D.C.
• Safehold, Inc. in connection with numerous “development ground lease”-style financing transactions in locations such as New York; Austin, Texas; Jacksonville, Florida; Nashville, Tennessee; Bellevue, Washington; and Cambridge, Massachusetts, several of which included the simultaneous origination of senior and mezzanine construction loans

Examples of Mr. Caffuzzi’s borrower representations include:

• Silverstein Properties in connection with numerous mortgage and mezzanine financings, such as:
  • the multibillion-dollar liberty bond issuances for towers 3, 4 and 7 at the World Trade Center, which featured unique municipal bond/CMBS execution structures
  • a $150 million mortgage and mezzanine financings in connection with the acquisition of 116 John Street in New York, an office-to-residential conversion
  • a $300 million mortgage financing and preferred equity investment in connection with the acquisition of 55 Broad Street in New York, an office-to-residential conversion
  • an extension and modification of mortgage and mezzanine loans related to the life sciences development project at 619 West 54th Street in New York
  • an extension and modification of mortgage and mezzanine loans related to the U.S. Bank Tower in downtown Los Angeles
• Regeneron Pharmaceuticals, Inc. in connection with the $720 million acquisition and sale-leaseback financing of an office building complex in Westchester County, New York
• Planet Networks, Inc. in connection with a potential taxable municipal bond issuance for the expansion of its fiber networks in the northeast region of the U.S.

Development Transactions

Mr. Caffuzzi has extensive experience working on development transactions in New York and other U.S. locations, such as:

• Silverstein Properties in connection with:
  • the redevelopment of towers 2, 3 and 4 at the World Trade Center, as well as 7 World Trade Center, in the years following 9/11
  • the development of 200 West End Avenue, a luxury condominium building in New York
  • the development of a Four Seasons Hotel in Orlando, Florida
  • the conversion of 55 Broad Street in New York from office to residential use
  • the development of a site located at 41st Street and 11th Avenue in New York
• Moynihan Station Development Corporation and Empire State Development in connection with the redevelopment of the Farley Post Office in Manhattan to a state-of-the-art train station and retail and office facility
• Two Trees Management in connection with numerous development transactions in Manhattan and Brooklyn that involved unusual features, such as the development of a horse stable for the New York Police Department’s Mounted Unit, the development of a middle school, the development of a cultural and arts facility in Fort Greene, Brooklyn, for the Department of Cultural Affairs, the development of a park at the Domino Sugar factory project and the donation of a vintage carousel to be placed in Brooklyn Bridge Park
• Howard Hughes Corporation in connection with the redevelopment of Pier 17 and the Tin Building at the South Street Seaport in New York, including the renegotiation of a long-term ground lease for the site between Howard Hughes and the city
• Mercedes-Benz of Manhattan, Inc. in connection with the development of its over 300,000-square-foot state-of-the-art showroom and service facility on Manhattan’s west side
• The Clarett Group in connection with multiple assemblage and condominium development projects in New York
• The Georgetown Company in connection with various development projects in New York, Chicago and Columbus, Ohio

Acquisitions and Dispositions

Mr. Caffuzzi has represented clients in multiple transactions involving the acquisition and disposition of properties, including:

• Silverstein Properties and Boston Properties in connection with office building and development site acquisitions, including Silverstein Properties’ 2020 purchase of the U.S. Bank Tower in downtown Los Angeles; the acquisition by Silverstein Properties of the Disney/ABC Television studio facilities on Manhattan’s west side; the sale by Silverstein Properties of 570 Seventh Avenue in New York; the acquisition by Boston Properties of 399 Park Avenue in New York; and the sale by Boston Properties of 875 Third Avenue in New York
• Sony Corporation of America in the sale of its landmarked headquarters at 550 Madison Avenue in New York

Other Representations

Mr. Caffuzzi’s representative clients and transactions also include:

• various public sector clients in connection with infrastructure-related developments, including clients involved in redeveloping Moynihan Station (as noted above) and The Port Authority of New York and New Jersey in connection with the redevelopment of terminals 1, 2, 4 and 5 at John F. Kennedy Airport
• an international conglomerate in connection with its investment in certain real estate investment platforms for U.S. real estate
• a New York real estate company in connection with its potential partnership consolidation and roll up of multiple properties into a single syndicated venture
• Silverstein Properties in connection with the formation of Silverstein Capital Partners, its debt fund and lending platform
• numerous leasing transactions, such as the headquarters lease for Sony Corporation of America at 25 Madison Avenue in New York and the lease negotiation between Silverstein Properties and Group M for the latter’s headquarters at 3 World Trade Center
• the negotiation of joint venture arrangements, including between Apollo Real Estate Advisors and The Related Companies for the development of the Time Warner Center at Columbus Circle in New York

Mr. Caffuzzi has been repeatedly selected for inclusion in Chambers USA: America’s Leading Lawyers for Business, The Best Lawyers in America and Who’s Who Legal: Real Estate.