Polsinelli PC Represents Prime Finance Partners in $625 Million Transaction
(firmenpresse) - NEW YORK, NY -- (Marketwired) -- 10/19/15 -- Polsinelli, an Am Law 100 firm with a strong real estate practice in New York, announced that it represented Prime Finance Partners and its affiliated entities in the securitization of commercial mortgage loans originated by Prime with an aggregate original principal balance of approximately $625 Million. Polsinelli handled the documents for the deal. The transaction got underway in early May and closed on August 3.
Commenting on the transaction, Dan Flanigan, Polsinelli Chair of the Department of Real Estate and Finance, said, "We believe that this was the largest deal of this kind since 2008 and one of the more complex deals done this year. By representing both the issuer and the loan seller, we were able to help the client limit the number of parties to the transaction, increase the efficiency, and complete it in 90 days."
Other parties to the transaction included Wells Fargo Securities and Morgan Stanley & Co., as placement agents for the securities offering; Wells Fargo Bank, as master servicer for the pool of mortgage loans and as note administrator for the payments to investors in the transaction; and Cohen Financial, as special servicer and primary servicer for the loans in the pool.
There were eight classes of securities, six of which were offered in a Rule 144A private offering, and two of which were purchased by a Prime affiliate.
The securities were rated by DBRS and Moody''s.
Polsinelli is an Am Law 100 firm with 750 attorneys in 18 offices, serving corporations, institutions, entrepreneurs and individuals nationally. Ranked in the top five percent of law firms for client service and top five percent of firms for innovating new and valuable services*, the firm has risen more than 100 spots in Am Law''s annual firm ranking over the past six years. Polsinelli attorneys provide practical legal counsel infused with business insight, and focus on health care, financial services, real estate, life sciences and technology, and business litigation. Polsinelli attorneys have depth of experience in 100 service areas and 70 industries. The firm can be found online at . Polsinelli PC. In California, Polsinelli LLP. *BTI Client Service A-Team 2015 and BTI Brand Elite 2015.
Contacts:
Dan Flanigan
Financial Services & Real Estate Department Chair
Polsinelli
816-360-4260
Adam Friedman
Public Relations
Adam Friedman Associates
917-675-6250
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Datum: 19.10.2015 - 11:29 Uhr
Sprache: Deutsch
News-ID 1393144
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