Mitchell S.Kaplan
Partner
Real Estate Finance
mkaplan@seyfarth.com
Mitchell's broad-based real estate finance knowledge covers all areas of commercial real estate loan origination, including construction loans and facilities with multiple layers of debt, as well as the servicing of commercial real estate loans inclusive of workouts and restructures.
More About Mitchell
Clients facing a competitive landscape look to Mitchell to close their commercial real estate loans in a quick and efficient manner. He finds workable structures and solutions to complex issues, while at all times protecting his clients' interests. Having closed all types of real estate finance transactions for lenders and borrowers, he understands what is considered "market" at any given time for loan provisions and structures, including matters related to construction lending, securitized loans (both CMBS and CLOs), subordinate debt (including mezzanine loans and B notes), pari passu loans, and bridge loans.
Representing both loan originators and loan servicers, such as CMBS master and special servicers, gives Mitchell a unique understanding of the practical implications and importance of certain loan provisions and structures, and the impact they have in various post-closing scenarios, including situations where properties encounter economic problems or other negative situations. Having been through several economic cycles during his career, Mitchell has represented lenders, loan servicers, and borrowers in a wide variety of loan restructurings, workouts and enforcements.
Working extensively with mortgage loan servicers on borrower consent requests, loan assumptions, construction loan administration, casualty situations, SNDA's, and workouts and restructures has given Mitchell a valuable perspective in representing both lenders and borrowers in loan originations by building into the loan documents on origination provisions that address potential post-closing scenarios in a clear and unambiguous manner. This perspective has also been enormously helpful in negotiating the terms of co-lender and intercreditor agreements on behalf of both senior and junior lenders.
In addition, Mitchell has counseled both buyers and sellers of office buildings, commercial condominiums, apartment complexes, shopping centers, hotels and other commercial properties. He also has considerable experience in representing both landlords and tenants in office, retail, and other commercial leasing transactions, including various corporate users in their commercial space needs.
Mitchell finds tenable positions, whether conceptually or language-driven, when negotiations reach an impasse, where other practicing attorneys might not have the experience or confidence to be creative in reaching a solution.
At Seyfarth, Mitchell enjoys the team spirit that cuts across all offices and practice areas. This sentiment is evidenced by the success he has had in utilizing experts in different practice areas or geographic locations at Seyfarth when needed.
Representing both loan originators and loan servicers, such as CMBS master and special servicers, gives Mitchell a unique understanding of the practical implications and importance of certain loan provisions and structures, and the impact they have in various post-closing scenarios, including situations where properties encounter economic problems or other negative situations. Having been through several economic cycles during his career, Mitchell has represented lenders, loan servicers, and borrowers in a wide variety of loan restructurings, workouts and enforcements.
Working extensively with mortgage loan servicers on borrower consent requests, loan assumptions, construction loan administration, casualty situations, SNDA's, and workouts and restructures has given Mitchell a valuable perspective in representing both lenders and borrowers in loan originations by building into the loan documents on origination provisions that address potential post-closing scenarios in a clear and unambiguous manner. This perspective has also been enormously helpful in negotiating the terms of co-lender and intercreditor agreements on behalf of both senior and junior lenders.
In addition, Mitchell has counseled both buyers and sellers of office buildings, commercial condominiums, apartment complexes, shopping centers, hotels and other commercial properties. He also has considerable experience in representing both landlords and tenants in office, retail, and other commercial leasing transactions, including various corporate users in their commercial space needs.
Mitchell finds tenable positions, whether conceptually or language-driven, when negotiations reach an impasse, where other practicing attorneys might not have the experience or confidence to be creative in reaching a solution.
At Seyfarth, Mitchell enjoys the team spirit that cuts across all offices and practice areas. This sentiment is evidenced by the success he has had in utilizing experts in different practice areas or geographic locations at Seyfarth when needed.
- JD, New York University School of Law
Written Advocacy Award, best moot court brief
NYU Moot Court Board, editor - BS, University of Pennsylvania
Finance and EconomicsCum laude
- New Jersey
- New York
Related Services
- Represented a national bank in a $212 million construction loan for a luxury condominium development in South Florida to be managed by a luxury brand operator upon completion.
- Represented a national bank in a $125 million construction loan for a mixed use development in Tysons, Virginia, including representing the lender in connection with several loan modifications after the initial loan closing.
- Represented the senior lender in the negotiation of an intercreditor agreement for a $1.1 billion first mortgage loan facility secured by a 146 property industrial portfolio.
- Represented a multinational financial services company, as loan servicer, in connection with 48 mortgage loans aggregating over $7 billion affected by the borrower equity transfers resulting from the acquisition of the borrower’s sponsor by another publicly traded REIT.
- Represented a CMBS servicer in connection with a change of control transaction for a publicly traded REIT covering a loan in the amount of $389 million split into two pari passu notes deposited into two different securitizations. The loan covered approximately 15 properties throughout the US.
- Represented a CMBS servicer in connection with a change of control transaction for a publicly traded REIT covering approximately 10 separate loans throughout the US in numerous securitizations, with such loans aggregating approximately $250 million.
- Represented a multinational financial services company, as loan servicer, in connection with the assumption of a mortgage loan secured by a merchandise mart, which included the sale of the property valued at $1.1 billion and secured by a mortgage in the principal amount of $560 million.
- Represented a national bank in connection with a $35 million bridge loan with a future advance component for property improvements relating to a multi-family property in Philadelphia, Pennsylvania, which loan was contributed to a CLO.
- Represented a national bank in connection with a $16 million bridge loan with a future advance component for property improvements relating to a multifamily property in Texas, which loan was contributed to a CLO.
- Represented a CMBS servicer in connection with a change of control transaction for five properties located in Rosslyn, Virginia securing five separate loans aggregating $251 million. The transaction also entailed representing the servicer in negotiating the terms of an intercreditor agreement with a new term lender that made a facility loan in the aggregate amount of $120 million.
- Represented a lender in connection with a $57 million loan for seven multi-family properties, the proceeds of which were used for the acquisition of the properties and for future advances for property renovation, lease-buyouts and debt service.
- Represented a pension fund in the acquisition (and subsequent sale several years later) of a 59 building, 2500-unit apartment complex as a stalking horse bidder in a bankruptcy proceeding.
- Represented a CMBS special servicer in connection with the restructuring of a mortgage loan in the amount of $125 million secured by a luxury resort and subsequent foreclosure of the mortgage, which loan had six loan participants, with the senior participation interest being held in a REMIC Trust.
- Represented a CMBS special servicer in connection with the sale of a promissory note secured by an office building in Greenwich, Connecticut.
- Represented a national bank in a $60 million construction loan for a mixed used development in Portland, Oregon.
- Represented a national bank in a $32 million construction loan for a mixed use development in Los Angeles, California, including the negotiation of an intercreditor agreement with a mezzanine lender.
- Represented a national bank in a $75 million construction loan for the re-development and new branding of a luxury boutique hotel in Chicago, Illinois.
- Represented a CMBS special servicer in connection with the restructuring of a loan on an office park which included the B Note holder converting its debt to equity and assuming the restructured loan.
- Represented a CMBS master servicer in connection with a change of control transaction/loan assumption for a NYC office building involving more than $700 million of senior and subordinate debt.
- Represented a portfolio lender in connection with a loan secured by unsold condominium units in a NYC luxury condominium development.
- Represented a national bank in a debt-on-debt transaction relating to a construction loan in the amount of $45 million for the development of a multi-family property in Illinois.
- Represented an international re-insurance company in the leasing of 150,000 square feet of office space in New York and the subletting of other space in New York.
Related News & Insights
-
Podcast
Jul 6, 2023
The Property Line: Demystifying the Deed in Lieu
-
Legal Update
Apr 15, 2020
A Roadmap for CRE Loan Document Review in connection with Waiver, Forbearance and Modification Requests During the COVID-19 Pandemic
-
Webinar Recording
Apr 1, 2020
Webinar Recording: COVID-19 and Commercial Mortgage Loans: Lender/Servicer and Borrower/Guarantor Perspectives and Insights
-
Legal Update
Mar 24, 2020
Federal Agencies Issue Guidance on Loan Modifications Relating to COVID-19
- Listed in New York Super Lawyers for Real Estate (Thomson Reuters) (2013, 2015-2022)
No aspect of this advertisement has been approved by the Supreme Court of New Jersey.
- Commercial Real Estate Finance Council
- Mortgage Bankers Association
- Co-Author, "A Roadmap for CRE Loan Document Review in connection with Waiver, Forbearance and Modification Requests During the COVID-19 Pandemic," Legal Update, Seyfarth Shaw LLP (April 15, 2020)
- Co-Author, "Federal Agencies Issue Guidance on Loan Modifications Relating to COVID-19," Legal Update, Seyfarth Shaw LLP (March 24, 2020)
- Co-Author, “Navigating the Choppy Waters of the CMBS Loan Assumption Process: 10 Ways to Bring Calm to the Storm,” The Real Estate Finance Journal (Summer 2017)
- Author, “Construction Loan Guaranties,” The Banking Law Journal (July/August 2017)
- Co-Author, “Master Servicers and Special Servicers: A Basic Overview,” The Real Estate Finance Journal (Fall/Winter 2015)
- Co-Presenter, "The Property Line: Demystifying the Deed in Lieu," Podcast, Seyfarth Shaw LLP (July 6, 2023)
- Co-Presenter, "COVID-19 and Commercial Mortgage Loans: Lender/Servicer and Borrower/Guarantor Perspectives and Insights," Webinar, Seyfarth Shaw LLP (March 31, 2020); Webinar Recording
- New York Cares volunteer
- Built houses with Habitat for Humanity.
- Byram Animal Rescue Kindness Squad (BARKS) volunteer
Mitchell has "outstanding technical expertise that is unparalleled." —From The Legal 500
Mitchell's broad-based real estate finance knowledge covers all areas of commercial real estate loan origination, including construction loans and facilities with multiple layers of debt, as well as the servicing of commercial real estate loans inclusive of workouts and restructures.
More About Mitchell
Clients facing a competitive landscape look to Mitchell to close their commercial real estate loans in a quick and efficient manner. He finds workable structures and solutions to complex issues, while at all times protecting his clients' interests. Having closed all types of real estate finance transactions for lenders and borrowers, he understands what is considered "market" at any given time for loan provisions and structures, including matters related to construction lending, securitized loans (both CMBS and CLOs), subordinate debt (including mezzanine loans and B notes), pari passu loans, and bridge loans.
Representing both loan originators and loan servicers, such as CMBS master and special servicers, gives Mitchell a unique understanding of the practical implications and importance of certain loan provisions and structures, and the impact they have in various post-closing scenarios, including situations where properties encounter economic problems or other negative situations. Having been through several economic cycles during his career, Mitchell has represented lenders, loan servicers, and borrowers in a wide variety of loan restructurings, workouts and enforcements.
Working extensively with mortgage loan servicers on borrower consent requests, loan assumptions, construction loan administration, casualty situations, SNDA's, and workouts and restructures has given Mitchell a valuable perspective in representing both lenders and borrowers in loan originations by building into the loan documents on origination provisions that address potential post-closing scenarios in a clear and unambiguous manner. This perspective has also been enormously helpful in negotiating the terms of co-lender and intercreditor agreements on behalf of both senior and junior lenders.
In addition, Mitchell has counseled both buyers and sellers of office buildings, commercial condominiums, apartment complexes, shopping centers, hotels and other commercial properties. He also has considerable experience in representing both landlords and tenants in office, retail, and other commercial leasing transactions, including various corporate users in their commercial space needs.
Mitchell finds tenable positions, whether conceptually or language-driven, when negotiations reach an impasse, where other practicing attorneys might not have the experience or confidence to be creative in reaching a solution.
At Seyfarth, Mitchell enjoys the team spirit that cuts across all offices and practice areas. This sentiment is evidenced by the success he has had in utilizing experts in different practice areas or geographic locations at Seyfarth when needed.
Representing both loan originators and loan servicers, such as CMBS master and special servicers, gives Mitchell a unique understanding of the practical implications and importance of certain loan provisions and structures, and the impact they have in various post-closing scenarios, including situations where properties encounter economic problems or other negative situations. Having been through several economic cycles during his career, Mitchell has represented lenders, loan servicers, and borrowers in a wide variety of loan restructurings, workouts and enforcements.
Working extensively with mortgage loan servicers on borrower consent requests, loan assumptions, construction loan administration, casualty situations, SNDA's, and workouts and restructures has given Mitchell a valuable perspective in representing both lenders and borrowers in loan originations by building into the loan documents on origination provisions that address potential post-closing scenarios in a clear and unambiguous manner. This perspective has also been enormously helpful in negotiating the terms of co-lender and intercreditor agreements on behalf of both senior and junior lenders.
In addition, Mitchell has counseled both buyers and sellers of office buildings, commercial condominiums, apartment complexes, shopping centers, hotels and other commercial properties. He also has considerable experience in representing both landlords and tenants in office, retail, and other commercial leasing transactions, including various corporate users in their commercial space needs.
Mitchell finds tenable positions, whether conceptually or language-driven, when negotiations reach an impasse, where other practicing attorneys might not have the experience or confidence to be creative in reaching a solution.
At Seyfarth, Mitchell enjoys the team spirit that cuts across all offices and practice areas. This sentiment is evidenced by the success he has had in utilizing experts in different practice areas or geographic locations at Seyfarth when needed.
- JD, New York University School of Law
Written Advocacy Award, best moot court brief
NYU Moot Court Board, editor - BS, University of Pennsylvania
Finance and EconomicsCum laude
- New Jersey
- New York
Related Services
- Represented a national bank in a $212 million construction loan for a luxury condominium development in South Florida to be managed by a luxury brand operator upon completion.
- Represented a national bank in a $125 million construction loan for a mixed use development in Tysons, Virginia, including representing the lender in connection with several loan modifications after the initial loan closing.
- Represented the senior lender in the negotiation of an intercreditor agreement for a $1.1 billion first mortgage loan facility secured by a 146 property industrial portfolio.
- Represented a multinational financial services company, as loan servicer, in connection with 48 mortgage loans aggregating over $7 billion affected by the borrower equity transfers resulting from the acquisition of the borrower’s sponsor by another publicly traded REIT.
- Represented a CMBS servicer in connection with a change of control transaction for a publicly traded REIT covering a loan in the amount of $389 million split into two pari passu notes deposited into two different securitizations. The loan covered approximately 15 properties throughout the US.
- Represented a CMBS servicer in connection with a change of control transaction for a publicly traded REIT covering approximately 10 separate loans throughout the US in numerous securitizations, with such loans aggregating approximately $250 million.
- Represented a multinational financial services company, as loan servicer, in connection with the assumption of a mortgage loan secured by a merchandise mart, which included the sale of the property valued at $1.1 billion and secured by a mortgage in the principal amount of $560 million.
- Represented a national bank in connection with a $35 million bridge loan with a future advance component for property improvements relating to a multi-family property in Philadelphia, Pennsylvania, which loan was contributed to a CLO.
- Represented a national bank in connection with a $16 million bridge loan with a future advance component for property improvements relating to a multifamily property in Texas, which loan was contributed to a CLO.
- Represented a CMBS servicer in connection with a change of control transaction for five properties located in Rosslyn, Virginia securing five separate loans aggregating $251 million. The transaction also entailed representing the servicer in negotiating the terms of an intercreditor agreement with a new term lender that made a facility loan in the aggregate amount of $120 million.
- Represented a lender in connection with a $57 million loan for seven multi-family properties, the proceeds of which were used for the acquisition of the properties and for future advances for property renovation, lease-buyouts and debt service.
- Represented a pension fund in the acquisition (and subsequent sale several years later) of a 59 building, 2500-unit apartment complex as a stalking horse bidder in a bankruptcy proceeding.
- Represented a CMBS special servicer in connection with the restructuring of a mortgage loan in the amount of $125 million secured by a luxury resort and subsequent foreclosure of the mortgage, which loan had six loan participants, with the senior participation interest being held in a REMIC Trust.
- Represented a CMBS special servicer in connection with the sale of a promissory note secured by an office building in Greenwich, Connecticut.
- Represented a national bank in a $60 million construction loan for a mixed used development in Portland, Oregon.
- Represented a national bank in a $32 million construction loan for a mixed use development in Los Angeles, California, including the negotiation of an intercreditor agreement with a mezzanine lender.
- Represented a national bank in a $75 million construction loan for the re-development and new branding of a luxury boutique hotel in Chicago, Illinois.
- Represented a CMBS special servicer in connection with the restructuring of a loan on an office park which included the B Note holder converting its debt to equity and assuming the restructured loan.
- Represented a CMBS master servicer in connection with a change of control transaction/loan assumption for a NYC office building involving more than $700 million of senior and subordinate debt.
- Represented a portfolio lender in connection with a loan secured by unsold condominium units in a NYC luxury condominium development.
- Represented a national bank in a debt-on-debt transaction relating to a construction loan in the amount of $45 million for the development of a multi-family property in Illinois.
- Represented an international re-insurance company in the leasing of 150,000 square feet of office space in New York and the subletting of other space in New York.
Related News & Insights
-
Podcast
Jul 6, 2023
The Property Line: Demystifying the Deed in Lieu
-
Legal Update
Apr 15, 2020
A Roadmap for CRE Loan Document Review in connection with Waiver, Forbearance and Modification Requests During the COVID-19 Pandemic
-
Webinar Recording
Apr 1, 2020
Webinar Recording: COVID-19 and Commercial Mortgage Loans: Lender/Servicer and Borrower/Guarantor Perspectives and Insights
-
Legal Update
Mar 24, 2020
Federal Agencies Issue Guidance on Loan Modifications Relating to COVID-19
- Listed in New York Super Lawyers for Real Estate (Thomson Reuters) (2013, 2015-2022)
No aspect of this advertisement has been approved by the Supreme Court of New Jersey.
- Commercial Real Estate Finance Council
- Mortgage Bankers Association
- Co-Author, "A Roadmap for CRE Loan Document Review in connection with Waiver, Forbearance and Modification Requests During the COVID-19 Pandemic," Legal Update, Seyfarth Shaw LLP (April 15, 2020)
- Co-Author, "Federal Agencies Issue Guidance on Loan Modifications Relating to COVID-19," Legal Update, Seyfarth Shaw LLP (March 24, 2020)
- Co-Author, “Navigating the Choppy Waters of the CMBS Loan Assumption Process: 10 Ways to Bring Calm to the Storm,” The Real Estate Finance Journal (Summer 2017)
- Author, “Construction Loan Guaranties,” The Banking Law Journal (July/August 2017)
- Co-Author, “Master Servicers and Special Servicers: A Basic Overview,” The Real Estate Finance Journal (Fall/Winter 2015)
- Co-Presenter, "The Property Line: Demystifying the Deed in Lieu," Podcast, Seyfarth Shaw LLP (July 6, 2023)
- Co-Presenter, "COVID-19 and Commercial Mortgage Loans: Lender/Servicer and Borrower/Guarantor Perspectives and Insights," Webinar, Seyfarth Shaw LLP (March 31, 2020); Webinar Recording
- New York Cares volunteer
- Built houses with Habitat for Humanity.
- Byram Animal Rescue Kindness Squad (BARKS) volunteer
Mitchell has "outstanding technical expertise that is unparalleled." —From The Legal 500