Ralph Rosella, Alex Gayer, William Gartland and Max Sender of the Firm’s Corporate and Business Practice Group, together with Charles Weiss, Of Counsel to the Firm’s Real Estate Practice Group, closed a $55,000,000 debt and equity financing for Sportime, a long-time Firm client. The lender and preferred equity holder is a large multinational investment bank and financial services company.
The financing will enable the client to refinance all of its existing debt and significantly expand a sports facility in New York City.
The scope of the representation included counseling the client with respect to its equity and management structure in advance of seeking the financing source, and guiding the process of selecting a suitable lender and equity partner. Following this pre-transaction guidance, the Firm engaged in extensive negotiation of complex financing and equity documentation and were able to achieve the client’s goal of closing the transaction in the 2019 calendar year.