STROOCK & STROOCK & LAVAN LLP Stroock & Stroock & Lavan LLP - Commercial Real Estate Lending Experience • Represented clients in the origination of over $11 billion of commercial real estate financings since the beginning of 2006 • Experienced in all aspects of commercial lending, including: • Loans intended for securitization, including single loan securitizations and large separately- rated loans • Syndicated Loan Transactions • Senior/Subordinate (“A/B”) co-lending arrangements • Mezzanine debt • Preferred Equity Financings • Sale and purchase of commercial loan interests • Construction loans • Corporate lines of credit • Credit tenant loans • Participating loans • Partners and associates in each of our New York, Los Angeles and Miami offices are actively involved in the representation of our clients • We have extensive experience in all major collateral types, including retail, office, multifamily and hotels • Representative transactions • $472 million syndicated financing with respect to a midtown Manhattan office property, including senior and junior mezzanine loan classes • $450 million financing of the acquisition of 13 multifamily properties in Arizona, including senior and junior mezzanine loan classes • $370 million acquisition financing of midtown Manhattan office project STROOCK & STROOCK & LAVAN LLP • $302 million acquisition financing of midtown Manhattan office (to be converted into an approximately $500 million construction and term loan facility) • $270 million acquisition financing of 33 retail shopping centers throughout the United States • $245 million financing with respect to the acquisition of a Chicago office building • $185 million syndicated financing with respect to acquisition and development of largest remaining undeveloped property in Los Angeles; syndication included sale of senior and subordinate notes • $130 million syndicated construction loan with respect to an office project in Washington, D.C. • $110 million syndicated first mortgage and mezzanine construction financing with respect to a high-end residential and retail condominium project in Manhattan • Representation of mezzanine fund in the acquisition of several hundred million dollars of mezzanine loans, subordinate debt and preferred equity financings • Representation of fund in the purchase of a $40 million junior participation interest in a $125 million mezzanine financing related to the acquisition of 79 multifamily properties (approximately 16,500 units) • Representation of fund in the leveraged acquisition of the most junior debt interest in $825 million financing of Sears Tower in Chicago, Illinois • Representation of a fund in connection with the origination of a $45 million loan to a publicly traded REIT subsidiary secured by second mortgages on five hotel properties, including negotiation of first and second lien intercreditor agreement with an institutional first lien lender • We have extensive experience in the sale and acquisition of performing and non-performing commercial real estate loan assets and are familiar with the market legal standards for loan sales, “note on note” financing and co-lending arrangements (including participations, “A/B” co- lending structures and preferred equity financings). Our experience in this area includes the representation of (1) banking institutions in the sale of commercial mortgages, subordinated “B Notes” and mezzanine loans, (2) an institutional fund manager in the acquisition of several hundred million dollars of senior and subordinate commercial real estate loan assets, (3) an investment fund in the acquisition of subordinated mezzanine debt and participation interests involving seller financing, and (4) an investment fund in the acquisition, participation and financing of its interest as lender in a loan on a Manhattan office property. • Our mortgage lending practice is one component of a large, national commercial real estate practice. We represent institutional and private owner and investor clients in virtually all aspects of commercial real estate law, including sales and acquisitions, joint ventures, real STROOCK & STROOCK & LAVAN LLP estate development, commercial leasing, condominium and cooperative plans, land use and tax certiorari. Stroock’s transactional real estate department is comprised of 16 partners and over 50 special counsel, associates and paralegals.