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Garry Founds and the team at Mallor Grodner successfully helped a client close a $39.5M CMBS financing for a property portfolio consisting of multiple condominium regimes, apartments, and rental homes.  The lenders included both a senior CMBS lender and a mezzanine lender.  Garry assisted in every phase of the transaction, including the following:


  • Valuation and marketing
  • Preparation of financial and rent roll information along with presentations to lenders
  • Vetting of finance offers and negotiation of term sheets and loan applications
  • Advising on entity organizational structure and tax ramifications of deal structure
  • Removal of properties from condominium regimes along with amendments to condo declarations and HOA documents
  • Review of and edits to title and survey
  • Negotiation of issues related to engineering and environmental reports
  • Review and negotiation of loan documents with both senior lender counsel and mezzanine counsel
  • Issuance of legal opinions and coordination of final closing.


This complex and challenging transaction is an example of the comprehensive business and real estate solutions that Mallor Grodner LLP offers to our clients.