David Stewart

Junior Debt Transactions

• Represented AustralianSuper in $121M purchase of CMBS risk retention piece and simultaneous purchase of $570M mezzanine loan, all backed by a national logistics portfolio.
• Represented Oaktree in $160M purchase of B note and CMBS junior tranche back by office portfolio.
• Represented Clarion Partners in $30M origination of parallel loans on Boulder, CO student housing complexes.
• Represented Western Asset Management Company in $250M purchase of CMBS risk retention piece on San Francisco, CA apartment complex.
• Represented EquiTrust Life in $8M mezz origination on Fremont, CA apartment complex.
• Represented Clarion Partners in $40M mezz purchase on downtown NYC residential and mixed use condominium tower.
• Represented EquiTrust Life in $8M mezz purchase on San Diego, CA office park.
• Represented Waterfall Asset Management in $19M purchase of CMBS junior tranches and risk retention on office portfolio, including future funding and mezz intercreditor.
• Represented Western Asset Management Company in $15M purchase of pari passu B note on 15 nursing facilities.
• Represented Waterfall Asset Management in $136M purchase of CLO junior tranches including risk retention.
• Represented Clarion Partners in $18M junior mezz origination on Nashville, TN mixed use building.
• Represented Fidelis Asset Management in $25M mezz purchase on NYC hotel.
• Represented Western Asset Management Company in $125M junior mezz origination on NJ shopping/entertainment mall.
• Represented Western Asset Management Company and separately represented international lender on $300M junior mezzanine origination on American Dream Mall, Meadowlands, NJ.  Master repurchase arrangement for one lender.
• Represented Samsung in $130M senior mezz purchase on SoHo, NYC office building.
• Represented Western Asset Management Company in $45M purchase of CMBS risk retention on retail portfolio.
• Represented Capstone Advisers in $117.5M B note purchase on NYC office building.
• Represented Waterfall Asset Management in $120M purchase of CMBS junior tranches including risk retention on portfolio of 3 shopping malls.
• Represented Waterfall Asset Management in $65M purchase of CMBS junior tranches including risk retention on portfolio of 15 office assets.
• Represented Waterfall Asset Management in $25M mezz purchase and $35M CMBS B note rake bond on portfolio of 33 7-11 stores.
• Represented Western Asset Management Company in $135M mezz purchase on Bahamas resort.
• Represented Canan Pratt in $250M junior mezzanine portion of a $900 million loan to WeWork Companies for the acquisition of their new headquarters building, the former Lord & Taylor flagship department store on Fifth Avenue, New York City.
• Represented Witkoff Organization in $150M mezzanine financing by a Korean asset management company (with Korean LPs) along with a $450M of mortgage financing provided by two worldwide banks on Las Vegas casino.
• Represented Shinhan Alternative Asset Management in $305M purchase of two B notes and two senior and junior mezzanine loans on four office buildings in Dumbo, Brooklyn, New York City, including the headquarters of Etsy.com.
• Represented Vestas investment Management in $37M mezz purchase on Las Vegas, NV retail center.  Servicing agreement.
• Represented Western Asset Management Company in $25M mezz purchase on Boston, MA hotel.
• Represented Meritz Securities in $50M mezz origination on IN super-regional mall.
• Represented Hana Alternative Asset Management in $305M mezz origination/ purchase on fee and leasehold interests in major NY hotel.
• Represented IBK Securities in $39.6M B note and $60.4M A-2 note purchase on Jersey City, NJ residential complex.
• Represented Hana Alternative Asset Management in $128.5M B notes purchase on Downtown NYC office tower.
• Represented Hana Alternative Asset Management in $66.6M B notes purchase on Standard High Line Hotel, NYC.
• Represented Waterfall Asset Management in $50M mezz purchase and $115.6M junior CMBS tranches purchase (including risk retention) on portfolio of 86 Red Roof Inn hotels.
• Represented Prophet Capital in $50M sale of senior loan participation on Brooklyn, NY construction loan (retained junior participation).
• Represented CBRE in $45.8M mezz B purchase on 2 Orlando FL hotels.
• Represented CBRE in $60M mezz A purchase on Philadelphia, PA apartment complex.
• Represented Hangang Asset Management in $44.2M mezz A purchase on 2 Orlando, FL hotels.
• Represented CBRE in $66.5M senior mezz purchase on Chicago, IL JW Marriott hotel.
• Represented Clarion Partners in $20M B note purchase on San Diego, CA apartment buildings.
• Represented IBK Securities in $75M senior mezz pari purchase and $38M junior mezz pari participation on 2 NY apartment buildings.
• Represented CBRE in $24.7M mezz purchase on Jacksonville, FL Hyatt hotel.
• Represented Waterfall Asset Management in $104M senior mezz purchase on portfolio of 38 Hyatt Place and Hyatt House hotels. CUSIP. Ground lease.
• Represented Hyundai Investments in $125M mezz loan purchase on Midtown NY office building.
• Represented Waterfall Asset Management in $174M mezz B loan purchase on 97-asset portfolio. Ground lease.  Intercreditor includes uncrossing.
• Represented Hana Asset Management in $117.6M B note purchase on Downtown NYC office building. 2 tranches of B note.
• Represented CBRE in $50M junior mezz purchase on San Diego, CA resort
• Represented Meritz Securities in $35M mezz B loan purchase on NYC apartment complex.
• Represented Samsung SRA Asset Management in $66M mezz A loan purchase and $65M mezz B loan purchase on Maui, HI hotel.  2 tranches.
• Represented Hyundai Asset Management in $57.2M junior B note purchase on Chicago, IL JW Marriott Hotel. Pari passu A notes.
• Represented Hyundai Motors in $53M mezz purchase on Chicago, IL JW Marriott Hotel.
• Represented Hangang Asset Management in $153M mezz purchase on Midtown, NYC office building.  3 tiers of mezz.
• Represented Waterfall Asset Management in $20M pari interest in C mezz and D mezz purchase on hotel portfolio, with securitized mortgage.
• Represented CBRE in $10M mezz purchase of NJ office building.
• Represented Hana Alternative Asset Management in $54M C note purchase on Downtown, NYC office building.  2 levels of mezz.  Single asset securitization.
• Represented Hyundai Asset Management in $50M B note purchase on Madison, NJ office park. Interest strip. Servicing agrmt. 2 levels of mezz.
• Represented IBK Securities in $82M B note purchase and $46.32M mezz purchase on Apple office building, Sunnyvale, CA. Tenants in common.  2 levels of mezz. A note broken into A1 and A2.
• Represented Grosvenor Americas in $7.71M mezz origination on Los Angeles, CA apartments. 
• Represented CBRE in $40M mezz co-origination on Google campus, Sunnyvale, CA
• Represented IGIS Asset Management in $130M senior mezz purchase on Chelsea, NYC office building.  Servicing agreement with KeyBank.
• Represented Hangang Asset Management in $87M B note purchase on Seattle, WA office. Leased to Amazon. Future tenant-in-common.
• Represented Waterfall Asset Management in $45M junior mezz purchase on hotel portfolio.  JV with borrower for minority interest, restructured as pari participation. Transfer to grantor trust.
• Represented Shenzen Parkland in preferred investment in Vail, CO Four Seasons.
• Represented Hyundai Investments in $78M portion of senior mezz purchase on Las Vegas, NV casino. Mezz pari co-lender agreement, ROFO and buy/sell.  Serving agrmt.
• Represented KTB Asset Management in $69M purchase of senior mezz on NYC office building.  Splitting of mezz into senior and junior.
• Represented private owner as borrower in $400M combined origination of mortgage and mezz on Chicago, IL office tower.
• Represented Wells Fargo in $34M mortgage origination and mezz intercreditor on Atlanta Peachtree Hyatt hotel.
• Represented CBRE in $20M mezz purchase on Reston, VA office complex.
• Represented Waterfall Asset Management in junior CMBS class securities and $85M mezz purchase on hotel portfolio.
• Represented Grosvenor Americas in creation of lender set of mezz loan form documents.
• Represented Waterfall Asset Management in $14M mezz purchase on shopping center, Lynwood, CA.

Senior Debt Transactions

• Represented WAMCO in $50M purchase of pari passu interest on South Norwalk, CT shopping mall.
• Represented Vestas Asset Management in $60M purchase of pari passu interest on Chelsea, NYC office building.
• Represented Hana Alternative Asset Management in $67M purchase of A notes on HI resort.  Creation of new IO strip.
• Represented WAMCO in $65M purchase of pari passu notes on 15 rehab centers.
• Represented Waterfall in $182M purchase of pari passu interest on hotel portfolio.
• Represented Hangang in $133M origination of loan on Brooklyn, NY Intercontinental hotel.
• Represented WAMCO in $115M purchase of pari passu interest in senior loan on 32 skilled nursing homes.
• Represented AIP in $122M loan on NYC hotel.
• Represented Waterfall in $44M senior loan purchase on NYC hotel.
• Represented Hana in $55M senior loan orignation on NYC hotel. 
• Represented WAMCO in $275M purchase of single asset CMBS, including risk retention piece on 25 nursing properties in California.
• Represented Witkoff, as borrower, in $450M senior loan and $150M junior and senior mezz loan origination on Las Vegas, NV hotel development.
• Represented WAMCO in $42M purchase of construction mortgage loan on Pasadena, CA hotel.
• Represented Prophet in $24M construction loan origination on Brooklyn, NY apartment building.
• Represented Prophet in $12M construction loan origination on Brooklyn, NY apartment building.
• Represented Prophet in $78M construction loan origination on Brooklyn, NY vacant land.
• Represented Prophet in $20M construction loan origination for Brooklyn, NY condominium.
• Represented Prophet in $27.5M construction loan origination for Brooklyn, NY hotel.
• Represented Prophet in $45M construction loan origination on 2 Brooklyn, NY apartment buildings.
• Represented Shinhan in $125M A note; $25M B note and $25M mezz loan origination on Chicago, IL leasehold office tower.
• Represented Prophet in $46M construction loan origination on Brooklyn, NY vacant land.
• Represented KB in $40M loan purchase on Beverly Hills, CA hotel.
• Represented CBRE in $22.5M senior pari passu purchase on portfolio of 7 hotels.
• Represented Prophet in $4.5M senior pari passu purchase on NY, NY condo development.
• Represented KTB in $101M loan origination on 2 school buildings, NY, NY.
• Represented Samsung in $140M senior purchase of pari passu participation on Boston, MA office tower.
• Represented MetLife in creating master co-lender agreement.
• Represented Mizrachi in $400M combined origination of mortgage and mezz on Chicago, IL office tower.
• Represented Korea Investment Management in $50M senior loan participation purchase on Fontainebleau Hotel, Miami Beach, FL.
• Represented Heitman in $52M loan origination on self-storage, Brooklyn, NY.

Workouts and Loan Enforcement

• Represented a Korean trust in the restructuring and subsequent foreclosure against Union Station, Washington, DC.
• Represented a Korean trust in the restructuring of all tranches of debt affecting a 36-floor Boston office tower.
• Represented the lender in a transfer in lieu of foreclosure on a super-regional mall in Indiana.

University of Oxford, MBA

Columbia Law School, JD
Harlan Fiske Stone Scholar

Columbia University, BA, magna cum laude
Phi Beta Kappa

• New York