A global team comprised of partners, counsel and associates from Canada, UKMEA and the US closed a US$210 million senior secured credit facility for an affiliate of Apollo Commercial Real Estate Finance, Inc., relating to a portfolio consisting of high-end and luxury condos, homes and apartments. This five-year deal includes 229 properties and is secured by both real property and equity pledges from sponsors across 10 US states, as well as Canada, the UK, Turks and Caicos, the Bahamas, Costa Rica, Mexico, Grand Cayman and the British Virgin Islands. This global portfolio is available for short-term rental by individuals who purchase memberships starting at US$150,000 plus annual fees to stay in luxury locations around the world.
The Real Estate team, led by New York partner David Hall and counsel Rick Stempler, consisted of Chicago partner Todd Stennes, Toronto partner Jillian Shortt, Vancouver partner Bob Nikelski and London partner Richard Budge; New York senior managing associate Greg Fennell; London senior associate Brian Kennedy; New York managing associate Anthony Roselle and Chicago managing associate Erin Stach; New York associate Jonathan Jacobs, Kansas City associate Martin Rice and Vancouver associate Jennifer Wong; London lawyer Krista Kojecky; and New York paralegals Rita Barkachy, Andy Siegler and Beth Akers.
New York Capital Markets partners CJ Gelinas and Matt Yoon, along with managing associate Jessica Meylor and law clerk Hudson Overcash, provided client service and compliance support for two of Apollo’s affiliated companies who purchased interests in the loan. Also assisting on the deal were Toronto Financial Services partner Peter Murphy and Vancouver partner Jennifer Dezell, New York Tax partner Todd Anderson and associate Ryan Zucchetto, and Toronto Business Law associate Hartley Lefton.
