Brian Donnelly maintains a diverse real estate and finance practice representing some of the largest investors, funds and institutions in the United States, Canada and South Korea in the origination of complex joint ventures, acquisitions, dispositions and financings of real estate assets and development projects throughout the US and Canada. Brian also has significant experience in the restructuring of distressed debt for both borrowers and lenders.
Brian’s debt practice includes the representation of lenders in high-profile construction loans (including significant experience in New York City construction lending), sophisticated senior/junior credit arrangements (including the origination of senior/junior mezzanine debt, second mortgage arrangements and the negotiation of intercreditor and co-lender agreements), balance sheet and CMBS lending and the origination of EB-5 loans and preferred equity as a financing alternative for development projects.
Brian’s equity practice includes the representation of funds, sponsors, limited partners and institutional clients in the acquisition, disposition and financing of condominium developments (both residential and mixed-use), office buildings, industrial facilities, hotels, casinos and resorts, multi-family housing, senior housing and mixed-use projects, including extensive experience representing both GPs and LPs in complex joint venture arrangements (particularly in ground-up construction projects, multi-family and trophy asset properties).
Prior to moving to New York, Brian practiced commercial real estate law at a leading Canadian law firm in Toronto. Brian’s understanding of the nuances between the Canadian and American real estate markets has been a tremendous value-add not only for his clients looking to do business in Canada, but also for his Canadian clients looking to navigate the US commercial real estate market.
Represented QuadReal Property Group in its $360 million loan to an affiliate of Brookfield Asset Management secured by the project known as 5th and Broadway, Nashville, TN.
Represented BDO USA, LP, in connection with its leasing of hundreds of thousands of square feet of Class A office space across the United States, including its 143,000 square feet at 200 Park Avenue in Manhattan.
Represented Apollo Global Management in connection with the origination of an $807 million financing (consisting of mortgage, senior and junior mezzanine loan components) of the commercial retail unit at the historic Crown Building at the corner of 57th Street and Fifth Avenue in Manhattan.
Represented Macquarie Capital in connection with its purchase of a significant equity interest in a multi-family portfolio consisting of over 50 properties and 10,000 units across the Southwestern US. The portfolio included both operating and under-construction assets. The transaction was valued at approximately $890 million and included the negotiation of a complex joint venture agreement
Represented a joint venture of Oxford Properties Group and Canada Pension Plan Investment Board in connection with its obtaining of an approximately $429 million bridge loan and subsequent $221 million loan upsizing for the repositioning and pre-development of 550 Washington Street (formerly known as St John’s Terminal) in Manhattan, New York
Represented Apollo Global Management in the origination of numerous construction loans for ground-up construction projects in New York City, which is highlighted by (i) a $325 million mezzanine construction loan for the development of The Steinway, an under construction 1,438 foot tall tower located at 111 W. 57th Street, New York, NY and (ii) a $120 million construction loan with respect to the development of a mixed-use condominium project at 611 West 56th Street in Manhattan, New York
Represented Mirae Asset Financial Group in the origination of a $130 million financing (including mortgage and mezzanine loan components) secured by the 347- key Hyatt Regency Lake Washington in Renton, WA
Represented International Center of Photography in connection with its purchase of a combined museum and school space at Essex Crossing in Manhattan (and subsequent construction of such space), which included the sale of its then current museum space located at 250 Bowery Street in Manhattan
Represented South Korean investors in connection with a significant equity investment made in the ownership of the under-construction Drew Las Vegas casino and resort in Las Vegas, Nevada
Assisted Bridgerock Realty Advisors, LLC, one of the leading asset managers and advisors for South Korean investors, navigate the Canadian real estate market in their 2018 CAD $165 million non-recourse loan for Hotel X, a 404 key luxury lakefront hotel in Toronto, Ontario, which was one of the first large loans originated by South Korean capital in the Canadian market and a market-setting transaction for South Korean capital in Canada
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