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Negotiating Real Estate Deals 2017


Speaker(s): Anthony E. Davis, Audrey L. Sokoloff, David C. Drewes, Devika Kewalramani, Douglas L. Harmon, Ellen M. Goodwin, Job Warshaw, Jonathan L. Mechanic, Lisa Alpert Rosen, Louis J. Hait, Martin D. Polevoy, Richard S. Fries, Ronald D. Sernau, Ross Z. Silver, Scott M. Kobak
Recorded on: Jun. 12, 2017
PLI Program #: 186227

Anthony E. Davis is a lawyer’s lawyer.  He is a Partner in Hinshaw & Culbertson LLP’s Lawyers for the Profession® practice group, based in New York.  He advises lawyers and law firms in the United States and internationally in the areas of professional responsibility, risk management and every aspect of the law governing lawyers.  He is co-author of RISK MANAGEMENT: Survival Tools For Law Firms, American Bar Association (co-published by the Law Practice Management Section and the Center for Professional Responsibility, 3rd edition, with Katie M. Lachter, 2015), and the author of numerous scholarly articles.  He is a Lecturer-in-Law at Columbia University School of Law, teaching “Professional Responsibility Issues in Business Practice.”  He is a past President of the Association of Professional Responsibility Lawyers (APRL), a Fellow of the College of Law Practice Management, and a Member of the American Law Institute (ALI).  He received his law degree from Cambridge University, and an LL.M. from New York University School of Law.  He is admitted in New York, Colorado, and as an English Barrister and a Solicitor (both non-practicing).


Audrey Sokoloff represents clients worldwide in matters relating to real estate, real estate finance and private equity, including acquisitions and sales, partnerships and joint ventures, construction and development projects, hospitality and gaming, public and private offerings of real estate-related securities and workouts, recapitalizations, and restructurings.

Ms. Sokoloff's practice includes real estate private equity fund formations, joint ventures and investments in Asia, the Americas and Europe. She represented Anbang Insurance Group in its acquisitions of the Waldorf-Astoria hotel in New York and Strategic Hotels & Resorts from affiliates of the Blackstone Group, Sungate Properties in its acquisition of interests in the General Motors Building and other New York properties, and sovereign wealth funds in acquisitions of U.S. and European real estate assets and developments. She also represented Asia Pacific Land, K.K. in connection with the sale of the Tiffany Building in the Ginza district of Tokyo.

In the area of real estate finance, Ms. Sokoloff represents financial institutions and real estate companies in the origination and sale of a wide range of debt instruments, including traditional mortgage loans, revolving credit facilities, Sharia compliant financings, single and multiple-tiered mezzanine financings, and preferred equity, as well as in the acquisition, restructuring and sale of debt, including distressed and non-performing loans. Representative clients have included Deutsche Bank, J.P. Morgan Chase, Morgan Stanley, Merrill Lynch, Aozora Bank, S.L. Green Realty and UBS. Notable transactions include the $1 billion financing of Brookfield Place, New York, and construction financing for the American Dream development, and a first-of-its-kind combined sharia and conventional construction loan facility for the IHG Barclay Hotel.

Ms. Sokoloff represents REITs and other public and private real estate and infrastructure companies in mergers and acquisitions, as well as in financings and joint venture arrangements globally. Representative clients include S.L. Green Realty, Boston Properties, Alexandria Real Estate Equities, Inc. and Emeritus Corporation.

Ms. Sokoloff has practiced at Skadden since 1990 and was resident in New York, London, San Francisco and Los Angeles before relocating to Asia in 2008, where she served as co-head of Skadden's Asia Pacific practice, head of the Real Estate and Investment Finance Group and leader of the firm's Tokyo office. She returned to New York in 2011.

In 2014, Ms. Sokoloff was recognized among the "Women of Influence" by Real Estate Forum and as a Law360 MVP in the hospitality category. She also was selected by Real Estate Forum as one of its 2015 "Women of Influence: Metro N.Y."


Background

Lisa works with portfolio lenders, commercial banks, CMBS master and special servicers, pension fund advisers, private equity funds, government-sponsored entities and owners nationwide to find strategic and cost-efficient solutions to finance, administer and manage their commercial real estate investments and portfolios. She represents structured finance participants in the acquisition of servicing rights in public and private securitizations, and routinely handles large loan originations, assumptions and restructurings exceeding $100 million, as well as investment sales, acquisitions and joint ventures. Lisa also handled resolution of several of the largest and most complicated CMBS loan assets for special servicers during the recent financial crisis.

Lisa brings broad legal and business perspective and problem-solving skills to all aspects of real estate, real estate finance and capital markets transactions. She serves as deputy chair of Sutherland’s Real Estate Practice Group.

Experience

  • Represented leading master and special servicers in public, private and agency securitizations exceeding $9 billion in deal volume in 2015.
  • Completed a $1.2 billion mortgage loan restructure with payment in full to holders of securitized and rake bond debt.
  • Closed modifications and extensions of subordinate participating construction and permanent mortgage loan facilities and subordination arrangements on multifamily properties exceeding $300 million in metropolitan Washington, DC.
  • Completed the long-term refinancing of a leading $150 million office building in Washington, DC and the defeasance of prior securitized debt.
  • Closed a $228 million mortgage and mezzanine financing in which the mortgage loan was secured by a 22-building office and retail portfolio located on more than 300 acres in the Midwest.
  • Represented government sponsored entity (GSE) on split loan documentation and co-lender servicing agreements for large multifamily loans.
  • Represented CMBS servicer in series of partial defeasances and a final full defeasance of $440 million loan. 

Awards

  • Selected for inclusion in Washington, DC, Super Lawyers® (2014-2015)
  • Recognized by Chambers USA: Guide to Leading Business Lawyers in the area of real estate (2015)

Professional Activities

  • Member, Real Property Probate and Trust Law Section, American Bar Association
  • Member, Commercial Real Estate Finance Council
  • Member, Commercial Real Estate Women (CREW)
  • Volunteer, Everybody Wins! literacy and mentoring program

Articles

  • Case Study: Wells Fargo v. Cherryland Mall (January 27, 2012) Reprinted with permission from Law360
  • Construction Issues on Leasing: A Landlord's Perspective (2002) ALI-ABA and Attorneys & Executives in Corporate Real Estate

Presentations

  • Negotiating Real Estate Deals 2014 (June 4, 2014) Practicing Law Institute (PLI)

Clerkships

  • Honorable Frank A. Kaufman, Chief Judge, District Court of Maryland


David C. Drewes is a partner in the Real Estate Department. David focuses on all types of real estate transactions, including complex acquisitions, dispositions, financings, joint ventures, restructurings, development transactions, REIT matters, ground and space leases, and construction agreements. He represents a broad variety of clients, including private developers, private equity and hedge funds, public real estate companies, lenders, preferred equity investors and other real estate investors in transactions involving all real estate asset classes, ranging from hospitality to senior housing, office buildings to residential/multifamily projects, and specialized-use facilities (e.g., high-tech data centers) to raw and/or partially developed land.

Chambers USA (2018) ranks David among the leading individuals practicing in the area of Real Estate. In 2015, David was named a Law360“MVP” in Real Estate. He was also named one of Law360’s “Rising Stars” in Real Estate in both 2015 and 2014. David is also recognized in the 2012 edition of The Legal 500 United States.


Devika Kewalramani is a partner and co-chair of Moses & Singer's Legal Ethics & Law Firm Practice which advises law firms, lawyers and legal departments on ethical and legal aspects of law practice. She also currently serves as the firm's general counsel. Devika’s practice focuses on the laws that regulate lawyers. She counsels clients on issues relating to legal ethics, professional discipline, law firm risk management, and lawyer licensing and admissions. Devika advises on ethics matters involving legal malpractice. She conducts ethics and risk management audits for law firms and legal departments.

A frequent lecturer, panelist and author on legal ethics, Devika speaks to law firms, corporate legal departments, bar associations and other professional organizations on a variety of legal ethics topics. The editor of New York State Bar Association’s Journal magazine recognized Devika as author of one of the best articles of 2010: “Up Close and Professional With New York’s Engagement Letter Rules” (September 2010). Her article, “Demystifying ESQrow Ethics” was featured on the front page of the New York State Bar Association Journal’s May 2013 edition. Devika is a faculty member of the Practising Law Institute and of Lawline.com.

She began her career at Moses & Singer as an associate in the firm's Banking and Finance practice, where she represented major financial institutions in secured and unsecured financings.

Devika is the Chair of the Committee on Professional Discipline of the New York City Bar Association. She is a member of the Advisory Board of The Ethics Institute of the New York County Lawyers' Association.

In 2014 and 2015, Devika achieved Super Lawyer status in the Metro Edition of New York Super Lawyers®.

She was appointed as a member of the New York Commission on Statewide Attorney Discipline in 2015 and served as a co-chair of its Subcommittee on Transparency and Access.

PROFESSIONAL AFFILIATIONS

  • Member, New York Commission on Statewide Attorney Discipline
  • Chair, Committee on Professional Discipline, the New York City Bar Association
  • Member, Public Policy and Action Committee, the New York County Lawyers' Association
  • Member, Committee on Continuing Legal Education of the New York State Bar Association
  • Member, Advisory Board of the Ethics Institute, the New York County Lawyer's Association
  • Member, International Board of Advisors of Jindal Global Law School, Sonipat, Haryana, India
  • Past Chair, Subcommittee on Engagement Letters, Professional Responsibility Committee, the New York City Bar Association
  • Past Member, Committee on Professional Ethics of the New York State Bar Association

PUBLICATIONS

  • Lexis® Practice Advisor for Corporate Counsel: Ethics For In-House Counsel, Author (2012-current).
  • The Georgetown Journal of Legal Ethics, Mentor to Journal staff members for note publications on ethics (2010-11 and 2011-12).
  • "The New York Rules of Professional Conduct," Oxford University Press/New York County Lawyers' Association, Rules Co-Editor and Contributor of Three Chapters: "Rule 1.7 – Conflicts of Interest: Current Clients;" "Rule 1.8 – Current Clients: Specific Conflicts of Interest Rules;" and "Rule 1.9 – Duties to Former Clients" (2010-2012).

PRACTICE AREAS

  • Legal Ethics & Law Firm Practice
  • Privacy & Cybersecurity

EDUCATION

  • City University of New York School of Law (J.D.)
  • St. Xavier's College (B.A.) Kolkata, India

BAR/COURT ADMISSIONS

  • U.S. District Court, Southern District of NewYork
  • New York
  • Connecticut

LANGUAGES

  • Bengali
  • Hindi


Ellen Goodwin is a partner in Alston & Bird’s 60-lawyer Real Estate Finance & Investment Group, the former co-chair of the Group and resident in the New York office. Ms. Goodwin concentrates her practice on commercial real estate finance and has represented investment banks, commercial banks, funds and insurance companies on a variety of loan transactions for both securitizations and portfolios, including construction loan financings, loan syndications and participations, co-lending and senior/subordinate arrangements and mezzanine finance. She acts as form and program counsel for a number of active CMBS, balance sheet and bridge lenders. Ms. Goodwin’s expertise additionally extends to the work-out, restructuring and foreclosure of both securitized and portfolio mortgage loans, and she has extensive experience working with special servicers. She represents both sellers and purchasers of whole loans, subordinate debt and mezzanine loans.

Ellen is a member of the American College of Real Estate Lawyers (ACREL), American Bar Association, and New York State Bar Association and is a frequent lecturer on various topics concerning real estate finance and work-outs and restructurings of mortgage and mezzanine loans. She speaks regularly for the Practising Law Institute, the New York State Bar Association, the New York City Bar Association, ACREL and the International Council of Shopping Centers.

Ellen has been listed in The Best Lawyers in America© in the Real Estate – New York category – for the last seven years and in The Best Lawyers® Business Edition 2017 – Women in the Law 2017.


Jonathan L. Mechanic is chairman of Fried Frank's Real Estate Department. Prior to joining Fried Frank as a partner, he was general counsel and a managing director of HRO International, a real estate development organization.

Mr. Mechanic routinely counsels developers, owners, investors, REITs, and lenders in all aspects of commercial real estate transactions. Notably, he represented JP Morgan in connection with its redevelopment of 270 Park Avenue into a new 2.5-million-square-foot headquarters building, Maefield Development in its approximately US$1.6 billion acquisition of 20 Times Square, and CWCapital Asset Management in its sale of Stuyvesant Town-Peter Cooper Village to Blackstone Group and Ivanhoé Cambridge. He also represents landlords and tenants in commercial leasing and ground lease transactions, including his representations of 21st Century Fox and News Corp. on their headquarters leases at 1211 Avenue of Americas; Citigroup in its long-term lease of its headquarters at 388-390 Greenwich Street and the exercise of its option to purchase the building; Coach in the sale-leaseback of its headquarters at 10 Hudson Yards; Ernst & Young in its more than 600,000-square-foot lease for its new headquarters at One Manhattan West; Shiseido in its 225,000-square foot lease for its US headquarters and JP Morgan in its 437,000-square-foot-lease, both at 390 Madison Avenue.

Mr. Mechanic was awarded the 2016 Distinguished Alumnus Award from NYU and the 2016 Chambers USA Outstanding Contribution to the Legal Profession Award. For a decade, Mr. Mechanic has been recognized by Chambers USA as a “Star Individual” in real estate. He is consistently included on Commercial Observer’s “Power 100” list of the most powerful people in NY real estate and was the only practicing attorney to make the list in 2015, 2016, 2017, and 2018. Fried Frank’s Real Estate Department is consistently recognized as Law360’s Real Estate Group of the Year and was awarded the Chambers USA 2018 Real Estate Client Service Award.

Mr. Mechanic has taught the real estate transactions course at Harvard Law School for nearly ten years. He also lectures regularly for NYU Law School, REBNY and PLI, and is a co-author of The Commercial Office Lease Handbook published by the ABA.

He is on the Executive Committee of the Board of Governors for REBNY and the Board of Trustees of NYU Law School. He is also Chairman of the Advisory Board of NYU Furman Center for Real Estate and Urban Policy, a member of the Advisory Board of NYU Schack Institute of Real Estate, a member of the Industrial Advisory Board for Columbia University Center for Urban Real Estate, and a member of ACREL.

Mr. Mechanic received his JD from New York University School of Law in 1977, where he served as an editor of the Law Review and was elected to the Order of the Coif, and his BA, magna cum laude, from Brandeis University in 1974. He is admitted to practice in New York.


Louis J. Hait is a Partner in the New York office of Arnold & Porter Kaye Scholer LLP, having joined predecessor Kaye Scholer LLP’s real estate department in 1983.

Mr. Hait's practice covers a broad range of commercial real estate, with an emphasis on the representation of capital providers at all levels of the capital stack, including representing banks and other lending institutions in originating structured mortgage and mezzanine debt, negotiating intercreditor and co-lender agreements, and acquiring portfolios of performing and non-performing loans; representing hedge funds, private equity and opportunity funds and pension plans providing mezzanine, preferred equity and common equity joint venture investments; and construction lending, leasing, acquisitions and sales. Mr. Hait has counseled both institutional lenders and borrowers in complex real estate loan workouts and restructurings during multiple down cycles in the real estate market. He has a particular expertise in fashioning "one-off" solutions for hard-to-structure, would-be loan assets.

Mr. Hait regularly writes and lectures on commercial real estate law. Most recently, he was a faculty member for the Practicing Law Institute's conference entitled "Negotiating Real Estate Deals 2016," at which he spoke on "Recent Trends in Real Estate Lending." Mr. Hait most recent publications were "Does a New York Foreclosure Create an Opportunity for a Tenant to Walk Away from Its Lease Obligations," which appeared in the Winter 2015 edition of NY Real Property Law Journal, and "Does the Use of Equity Pledges in Mortgage Loans create a 'Clogging' Issue?" which appeared in Law360 in March 2013.

Mr. Hait is recognized as a leading practitioner in Chamber’s USA:  Americas Leading Lawyers for Business.

Mr. Hait received his J.D. from New York University.


Martin Polevoy is the head of the real estate practice group in New York. His practice includes all areas of real estate, including acquisitions and dispositions, development, leasing, financing, joint ventures, construction contracts, restructuring and workouts. He represents many well-known national and international owners, developers, investors, and financial institutions, as well as European and Asian investors, in both debt and equity transactions in the United States.

Mr. Polevoy's practice includes representing the Port Authority of New York and New Jersey as real estate counsel in the redevelopment of the World Trade Center site; the development of a 1.7 million-square foot headquarters building for The New York Times Company in Manhattan; representing L’Oreal USA, Inc. in their new 400,000 square foot headquarters lease at the Hudson Yards development project in Manhattan; representing General Motors in the relocation of their New York headquarters; representing a major investment bank in over 2 million square feet of leasing transactions and the acquisition of its Manhattan headquarters building; acquisition of over 4 million square feet of first-class office buildings for a prominent German open-end real estate fund; and serving as national real estate counsel for one of the largest real estate funds in the United States, and representing Asian investors in the US, including Greenland Group [Shanghai], and CommerzReal  Group [Weissbaden, Germany].

In addition, he has been a frequent participant, as program chair and as a speaker and panelist, in continuing legal education programs of the American College of Real Estate Lawyers, the Practicing Law Institute, Georgetown University Law Center, and the Anglo-American Real Estate Institute. He has also written extensively on various aspects of real estate law.

Mr. Polevoy has been recognized as a leading real estate practitioner in many prominent surveys. The respected English research publisher Chambers & Partners cites him in Chambers USA: America's Leading Lawyers for Business as a leading lawyer in real estate, commenting, "His enthusiasm and immense knowledge are his greatest assets, according to clients." Chambers also noted Mr. Polevoy's "wealth of experience and practical business approach," described him as "incredibly dedicated and responsive," and said he "is a highly experienced lawyer whose distinguished career and expertise continue to attract high-profile clients. While described as 'a big name in leasing,' Polevoy provides an all-around service that is highly respected by his peers."


Professional Expertise

Since the beginning of his real estate career in 1985, Douglas Harmon has been a prominent leader in New York City and a trusted advisor on the international real estate scene. Mr. Harmon has handled many of the world’s largest, highest-profile and record-setting transactions over the last three decades. Headquartered in New York City, Mr. Harmon is Chairman of Capital Markets at Cushman & Wakefield. Prior to joining Cushman & Wakefield in late 2016, Mr. Harmon was a Senior Managing Director and member of the Management Committee at Eastdil Secured, where he worked since 1993. In his first year at Cushman & Wakefield, he led the charge on $10 billion of sale and recapitalization transactions. Mr. Harmon has executed $175 billion in total transactions since 1997.

Mr. Harmon’s real estate transaction experience is broad and extensive, with a resume that includes well-known office properties like the Sears / Willis Tower and the GM Building, to major residential assets such as Peter Cooper Stuyvesant Town, Parkmerced, The Apthorp and Columbus Square, to iconic hotels such as the Waldorf Astoria and the Chelsea Hotel. Furthermore, Mr. Harmon has been a pioneer in transacting in what are now Manhattan’s most exclusive submarkets. Just a few examples include the Chelsea Market, Google’s NYC Headquarters (111 Eighth Avenue), the Starrett-Leigh Building, Time Warner Center, 10 Hudson Yards, 1515 Broadway and 1 Liberty Plaza.

Education & Achievements

Mr. Harmon holds an MBA from the Anderson Graduate School of Management at UCLA and a BA from Brown University.

He is a longtime Board Member of the New York Stage and Film Company, a not-for-profit dedicated to the development and production of new works of emerging and established artists for theater and film. He also serves on the advisory board of Caravel Management, LLC a New York-based emerging and frontier markets investment firm.

Mr. Harmon currently serves on the board of directors for a number of real estate projects in Manhattan, and was named Broker of the Year in 2003 and 2004 (the last two years Institutional Investors Inc. awarded this particular country-wide distinction). Mr. Harmon has accumulated numerous other real estate awards and accolades.

 


Richard Fries practices law in New York City and is a co-leader of the real estate group at Sidley Austin.  He is well-known throughout the New York and national legal, real estate and finance communities.  Richard focuses his practice on a wide array of complex real estate financing transactions, in which he represents leading national and global institutional lenders, investment banks and private equity firms.  Mr. Fries is particularly well-known for his work in high-profile distressed commercial loan workouts spanning all real estate asset classes.  He has developed a noteworthy practice at the crossroads of real estate finance and remedies, using litigation tools to restructure real estate loans and projects. 

In January 2018, Mr. Fries was awarded the New York State Bar Association Real Property Law Section’s Professionalism Award, its most significant honor, which recognizes lawyers who evidence the highest attributes of legal ability, achievement, civility and professionalism in the practice of law.

Mr. Fries has been recognized by Chambers USA in Band 1 each year from 2009 through 2018 in New York and in Band 1 nationally in 2013 (the year such rankings began) through 2017 (and in Band 2 in 2018) and named by Best Lawyers as its Real Estate Litigation Lawyer of the Year in New York City for 2019.  He is recommended in The Legal 500 United States for Real Estate, The International Who’s Who of Real Estate Lawyers, The Guide to the World’s Leading Lawyers and The Best Lawyers in America which also named Richard as its Litigation - Real Estate “Lawyer of the Year” in New York City in 2013.  In 2016, Mr. Fries was named to the inaugural edition of Who’s Who Legal: Thought Leaders 2017 as one of their top 10 best performing real estate lawyers worldwide.  In 2015, for the second consecutive year, Who’s Who Legal acknowledged Richard as one of the ten “Most Highly Regarded” real estate lawyers in North America.  He is a fellow of the American College of Real Estate Attorneys and the American College of Mortgage Attorneys.

Richard is a member of the Executive Committee of the Real Property Law Section of the New York State Bar Association.  He is co-chair of the Section’s Real Estate Finance Sub-Committee; he has co-chaired the Workouts and Bankruptcy Committee, the Legislation Committee and the Membership Committee.  Richard has lectured on a variety of important and timely topics for Practising Law Institute, the New York State Bar Association, the Mortgage Bankers Association and industry group programs on real estate finance, real estate workouts and remedies.

Richard has written extensively; his articles have been published regularly in the New York Law Journal (most recently in November 2017) and the Real Property Law Section’s Journal (most recently in the Spring and Summer 2018).  He has provided primers and road maps on loan workouts; he has analyzed New York’s “Rocket Docket” accelerated adjudication techniques; he has commented on controversial appellate decisions.  For Thomson Reuters’ Inside the Minds treatise on Distressed Real Estate, published in 2012, he wrote a chapter covering Distressed Real Estate Loan Dispute Resolution.  Over the past two years, he co-authored two articles on changes in real estate finance.

 


Ron Sernau is part of New York’s real estate industry inner circle and has more than 30 years of experience in real estate law. His clients, some of which have relied on his advice for decades, routinely involve him in their strategic decision making. Ron offers clients the insight he has gained by representing opposing interests in similar transactions. He has advised landlords and tenants, lenders and borrowers, purchasers and sellers, equity investors and developers, managers and owners, and brokers and principals.
Ron represents prominent New York City real estate developers in their investments in, and development of, premier properties. Various businesses, from large publicly traded companies to boutique investment firms, engage him to address their real estate concerns. He also provides general legal advice to luxury retailers, with a focus on real estate issues.
At Proskauer, Ron serves as the co-head of the Real Estate Department and co-chair of the Private Equity Real Estate practice.
An avid speaker on real estate topics, Ron has appeared before groups sponsored by the Association of the Bar of The City of New York, the New York Hospitality Council, Inc., the New York State Bar Association, the Georgetown Commercial Leasing Institute, CB Richard Ellis, Inc., the Association of Attorneys and Executives in Corporate Real Estate, Practising Law Institute, The Real Estate Board of New York, Inc. and the American College of Real Estate Lawyers.

 


Ross Z. Silver is a real estate partner resident in Fried Frank's New York office. He joined the Firm in 1987.

Mr. Silver has extensive experience with acquisitions and sales for single assets and portfolio transactions, leasing on behalf of landlords and tenants, financing, and joint ventures relating to all types of commercial properties, including office buildings, hotels, and mixed use properties.

Mr. Silver's representative clients include Highgate Hotels, MetLife, The Feil Organization, Goldman Sachs, Lehman Brothers Holdings, Blackstone Group, Square Mile Capital, Coach, Inc., JEMB Realty, The Landis Group, and Beacon Capital Partners.

Mr. Silver is consistently ranked by Chambers USA: America's Leading Lawyers for Business. He has also been consistently recognized by Legal 500 as a leading individual in Real Estate.

In 2014, Mr. Silver was selected by Law360 as a Real Estate MVP of the Year (one of only seven real estate lawyers in the country to be chosen for this honor).

Mr. Silver has been honored for his dedication to pro bono work, notably he has been recognized by the IDEAL School & Academy and by the Girl Scout Council of Greater New York.

Mr. Silver is a member of the Real Estate Board of New York and the Association of the Bar of the City of New York.  He is a frequent guest lecturer at Columbia Business School in the MBA Real Estate Program.

Mr. Silver received his JD, cum laude, from New York University School of Law in 1987, where he was a John Norton Pomeroy Scholar and was elected to the Order of the Coif.  He graduated, magna cum laude, in 1984 from the University of Pennsylvania, where he received his BS from the Wharton School of Finance and his BA from the College of Arts and Sciences.  Mr. Silver is admitted to the bar in New York and the District of Columbia.


Scott M. Kobak is a Partner in the Real Estate Department of the Firm. His main area of concentration has been in representing institutional investors in complex domestic and international commercial real estate acquisitions and developments, joint ventures and financings including active involvement with many of the most prominent real estate private equity funds. He acts as a primary transaction counsel to the real estate fund business of Carlyle, KKR and Morgan Stanley (MSREF). He has also represented Blackstone’s real estate funds on numerous transactions as well.  Scott has led some of the largest real estate transactions done over the past several years for some of the most recognized real estate fund operators in the United States.

Recent high-profile transactions include:

  • Blackstone Real Estate’s $5.3 Billion acquisition of Stuyvesant Town and Peter Cooper Village from CW Capital and Blackstone’s $1.25 Billion acquisition of a portfolio of hotels including the Ritz-Carlton and JW Marriott in Grande Lakes, Florida and the JW Marriott Desert Ridge Resort & Spa in Phoenix, AZ
  • The $1.3 billion sale by Carlyle Realty of 650 Madison Avenue, NYC to an investor group that included Vornado, Oxford Realty and others. This transaction was reported as the largest office building sale of 2013
  • Carlyle’s investment and multiple divestitures totaling approximately $1 billion of the 666 Fifth Avenue retail condominium in New York City
  • Blackstone’s acquisition and financing of Extended Stay America, a publicly traded hotel company (including representing Blackstone on the then-largest CMBS loan executed to date and multiple layers of mezzanine financing) Scott has focused over the past number of years on significant real estate private equity fund joint venture arrangements and financings with prominent developers and operators throughout the country.

Some of the more noteworthy recent development joint ventures include:

  • Representation of The Carlyle Group in multiple development joint ventures with Extell Development, including One Riverside Park, The Rushmore, Avery, Orion, Aldyn and the Ariel East and West luxury condominium projects
  • Representation of MSREF in a development joint venture with The Witkoff Group to acquire and develop 10 Madison Square West in NYC and in the subsequent sale of the retail condominium unit
  • Representation of KKR Real Estate in a development joint venture with Continuum Partners to acquire and develop land in Williston, North Dakota

Scott joined Simpson Thacher & Bartlett LLP in 1993 after receiving his J.D. from Boston University Law School, magna cum laude, where he was an Associate Editor of the Boston University Law Review. He was elected to become a member of the Firm in November 2000.


Job Warshaw is Managing Director and Head of the Asset Services Division at LNR Partners, LLC, which encompasses all CMBS special servicing activities including loan asset management, workouts, lender consents, REO asset management, dispositions, surveillance, as well as due diligence support for LNR’s investment activities. 

Mr. Warshaw joined LNR at its inception in 1992 as an original member of the loan asset management group, later becoming a Regional Team Leader, and subsequently Director of Loan Asset Management with direct responsibility for LNR’s 75-member workout team.  He has played a key role in all aspects of the formation and growth of the LNR servicing platform and workout culture, including participation in staffing, training, and development of internal systems, policies, and procedures. 

Prior to LNR, Mr. Warshaw held positions in commercial banking, including management of commercial loan workouts at a major South Florida thrift under RTC receivership whose non-performing assets were ultimately acquired by LNR in a $1 billion bulk transaction. 

Mr. Warshaw holds a BBA from Emory University, with a concentration in Finance.