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.
Elisha King is the Deputy General Counsel of DLA Pipper LLP(US). She is an experienced litigation and employment lawyer, and has tried numerous cases in the areas of professional liability, employment discrimination and business torts. Ms. King regularly advises firm lawyers on professional responsibility and other legal issues.
Ms. King was recognized among the Top Washington Attorneys in the “Young Gun” category by The Washington Business Journal. She was also named one of Washington, DC’s Legal Elite by Washington SmartCEO magazine.
Prior to her legal career, Ms. King worked as a news reporter for The Washington Post.
Courts and Forums
Ellen Goodwin is a partner in the firm’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 has been out in the forefront of CMBS 2.0 and acts as form and program counsel for a number of active CMBS lenders. Ms. Goodwin’s expertise additionally extends to the work-out, restructuring, and foreclosures 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.
Ms. Goodwin is a member of the American College of Real Estate Lawyers, the CRE Finance Council, the Mortgage Bankers Association, the American Bar Association, and the Real Estate Board of New York, and has served as a lecturer on various topics concerning real estate finance and work-outs and restructurings of mortgage and mezzanine loans for the Practising Law Institute, the New York State Bar Association, the New York City Bar Association, and the International Council of Shopping Centers.
STATE STREET FINANCIAL CENTER
Alston & Bird’s Real Estate Finance & Investment Group in New York serves as one of Morgan Stanley’s national outside counsel for their mortgage loan origination program (in connection with loans that are intended to be held on Morgan Stanley’s balance sheet or syndicated as well as loans that are slated for CMBS execution). In that capacity, Alston & Bird LLP served as lender’s counsel for Morgan Stanley Mortgage Capital Holdings LLC, as administrative agent for Morgan Stanley Bank, N.A. as lead lender on a $535,000,000 mortgage loan secured by the State Street Financial Center in Boston, Massachusetts, a $125,000,000 first mezzanine loan secured by the equity interests in the mortgage borrower, and a $125,000,000 second mezzanine loan secured by the equity interests in the first mezzanine borrower. Our representation also included sales of portions of the mortgage loan to certain co-lenders as well as the sales of both of the mezzanine loans, including the preparation and negotiation of co-lender and intercreditor agreements.
FIVE TIMES SQUARE
Alston & Bird LLP served as lender’s counsel for Morgan Stanley Mortgage Capital Holdings LLC, as administrative agent for Morgan Stanley Bank, N.A. as lead lender on a $782,000,000 mortgage loan secured by mortgage borrower’s ground-leasehold interest in 5 Times Square in New York, New York, a $208,000,000 first mezzanine loan secured by the equity interests in the mortgage borrower, and a $170,000,000 second mezzanine
loan secured by the equity interests in the first mezzanine borrower. Simultaneously with the closing of the mortgage, first mezzanine and second mezzanine loans, a third mezzanine loan in the amount of $100,000,000 and a fourth mezzanine loan in the amount of $100,000,000 were also originated by third party lenders.
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.
MEYER LAST is a Partner in the Real Estate Department of Fried, Frank, Harris, Shriver & Jacobson LLP, where his practice focuses on real estate development, commercial leasing, financing and capital market transactions, acquisitions and dispositions. Mr. Last represents a broad range of clients, including developers, owners, institutional investors, lenders, real estate advisers and underwriters. The Fried Frank Real Estate Department has been consistently recognized by Law360 as a Real Estate Group of the Year, and Mr. Last has been recognized by Legal 500 in Real Estate: Development and Leasing. Mr. Last has served on the Real Property Committee of the Association of the Bar of the City of New York and lectures on commercial leasing and bankruptcy topics. Mr. Last received his JD in 1982 from the Benjamin N. Cardozo School of Law where he was an editor of the Law Review.
Mr. Last regularly represents both landlords and tenants in some of the largest lease transactions completed each year in New York City and elsewhere. Recent transactions include representation of Citigroup in its 2.7 million square foot headquarters transaction at 388-390 Greenwich Street and representation of Brookfield in the lease to Skadden Arps allowing Brookfield to commence development of Manhattan West.
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 two decades. Headquartered in New York City, Mr. Harmon is Chairman of Capital Markets at Cushman & Wakefield. Prior to joining Cushman & Wakefield in 2016, Mr. Harmon was a Senior Managing Director and member of the Management Committee at Eastdil Secured, where he worked since 1993. Since 1997, he has sold or recapitalized over $150 billion in transactions, with a focus on New York City.
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 Apthrop 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 Chelsea Market, Google’s NYC Headquarters (111 Eighth Avenue), the Starett-Leigh Building,Time Warner Center and 10 Hudson Yards.
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.
Ronald D. Sernau, co-chair of the Real Estate Department, has more than 25 years of experience in real estate law, representing sophisticated parties in particularly visible transactions involving trophy properties. The community has consistently recognized Ron as a member of the inner circle in New York's real estate industry.
Ron offers clients the insight he has gained by representing opposing interests in similar transactions. He has represented landlords and tenants, lenders and borrowers, purchasers and sellers, equity investors and developers, managers and owners, and brokers and principals. He draws on his experience to address legitimate interests that the opposing party must protect, and to minimize the negotiation of issues that the opposing party can compromise. Ron's clients, some of which have relied on his advice for decades, routinely involve Ron in their strategic decision making.
Ron's clients include a variety of enterprises that are involved with real estate. He represents some of the most prominent real estate developers in New York City in their investments in, and their development of, premier properties. Various businesses, from large publicly traded companies to boutique investment firms, engage Ron to address their real estate concerns. He also has substantial experience in providing general legal advice for luxury retailers, with a particular focus on real estate issues.
Ron created the Proskauer Commercial Leasing System, which automates the commercial leasing process, reducing the processing time for a commercial lease from several weeks to several days. Realcomm, a real estate technology trade organization, awarded Ron with its prize for the best use of technology in real estate law in 2004.
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. He lectures at New York University and his articles have appeared in The New York Law Journal and The National Law Journal.
Real Estate Finance
Private Equity Real Estate
Health Care Industry
Cornell Law School, J.D., 1986
magna cum laude
Order of the Coif
Editor, Cornell Law Review, 1985-1986
Ithaca College, B.S., 1981
summa cum laude
Steven G. Horowitz's practice concentrates on U.S. and international real estate finance and investment transactions, including joint ventures, mortgage finance, securitization and capital markets, restructuring and real estate-related mergers and acquisitions.
He frequently represents commercial and investment banks, foreign and domestic institutional investors, property owners and a wide variety of corporations in their real estate matters.
Steven has extensive experience in financing, acquisition and disposition of significant properties throughout the United States, Asia, Latin America and Europe. Transaction types encompass all forms of joint ventures, mortgage securitization, loan syndication, mortgage loan trading and subordinate debt, such as mezzanine loan and preferred equity funding. In addition, he focuses on credit tenant and portfolio leasing, workout and bankruptcy matters, investment entity formation and taxoriented finance transactions, and investments in nontraditional property types such as resorts and hotels, Indian gaming casinos, mines, timber, utilities, sports fitness clubs, hospitals and nursing homes.
Steven repeatedly has been recognized by the business and legal press for his work on behalf of clients, including The Best Lawyers in America, which includes him in its 2016 edition, making Steven one of a small group to receive this honor for more than 10 consecutive years.
He joined the firm in 1987 and became a partner in 1989. Previously Steven was a partner and real estate practice chair at the law firm of Hill & Barlow in Boston, Massachusetts.
Steven Klein is a partner in the New York office of Gibson, Dunn & Crutcher and is a member of the Firm's Real Estate Practice Group. Mr. Klein's practice covers a broad range of real estate transactions, including acquisitions and dispositions, joint ventures, financings, leasing, construction and development, restructurings and recapitalizations. He also has substantial experience in REIT offerings, REIT mergers and formation of investment funds. He has advised clients on securitized funding agreements, permanent and mezzanine loan agreements, loan restructuring agreements, partnership and limited liability company agreements, private placement memoranda, property management agreements, retail and office leases and regional shopping centre agreements. His clients include Goldman Sachs, Citigroup, DiamondRock Hospitality Company, AECOM Capital and Lehman Brothers.
Chambers USA (2013) ranks Mr. Klein among the leading individuals practicing Real Estate Law in New York. He has also been included in Legal Media Group’s Expert Guide to the World’s Leading Real Estate Lawyers, The Best Lawyers in America, The Legal 500 and New York magazine’s "Best Lawyers.”
Mr. Klein is an adjunct professor at the New York University Schack Institute of Real Estate, where he has taught courses on commercial leasing, commercial real estate transactions and real estate development and investment. He is a member of the Real Estate Board of New York (REBNY), International Council of Shopping Centers (ICSC), and of the Advisory Board of Chicago Title Insurance Company.
Prior to joining the Firm, Mr. Klein was Chair of the Real Estate department of Willkie Farr & Gallagher. Mr. Klein received his Juris Doctor from Rutgers University School of Law in 1986.
Select Representative Transactions*
*Representations occurred prior to Mr. Klein joining Gibson, Dunn & Crutcher.
Thomas B. Mason is the Chair of Harris, Wiltshire & Grannis LLP’s Legal Ethics and Malpractice Group. He represents lawyers and law firms in malpractice, disqualification, disciplinary investigations and prosecutions, partner admissions and departures, and law firm dissolutions. Mr. Mason’s disciplinary experience includes matters before the USPTO’s Office of Enrollment and Discipline (OED) as well as numerous state bars. He also counsels and advises lawyers and law firms in all of the above areas so as to avoid problems or disputes before they arise. Mr. Mason was named Washington, D.C., Ethics and Responsibility Lawyer of the Year in 2014 by Best Lawyers. He has served as an expert in ethics and related issues on numerous occasions.
Some of his most notable representations include:
On behalf of a national telecommunications carrier, obtained a dismissal (at the pleading stage) of a claim for nearly $10 million in outstanding legal fees purportedly due to the former outside counsel.
Secured a dismissal of malpractice claims against an Amlaw 100 law firm in a multi-defendant action. The claims against the other defendants remain pending.
Handled dozens of disciplinary complaints and disqualification controversies, obtaining many outright dismissals of the former and frequently dissuading opposing counsel from even filing motions to disqualify with respect to the latter.
Successfully defeated a motion to disqualify brought by one AmLaw 100 firm against another AmLaw firm.
Litigated numerous malpractice cases, at both the appellate and the trial level. Obtained a dismissal of all counts at the motion to dismiss state on behalf of a client based on ripeness and damages issues.
Obtained dismissals in five separate bar disciplinary matters in which the presiding judge or court filed a complaint or found misconduct against our client. Also obtained a dismissal in a bar matter in which a court had previously disqualified the client for a conflict of interest.
Prior to private practice, Mr. Mason worked for the Federal Public Defender for the District of Maryland, where he represented clients in a wide variety of cases, including espionage, civil rights, mail and wire fraud, and controlled substance prosecutions. He went on to join the District of Columbia Public Defender Service where he had an intensive criminal trial and appellate practice.
Mr. Mason served on the D.C. Bar Legal Ethics Committee from 2006 to 2012, including three terms as Chair from 2009 to 2012. Mr. Mason is currently a member of the District of Columbia Bar Rules of Professional Conduct Review Committee. He also served on this Committee from 2002 through 2008. During his tenure, the Committee adopted the most extensive revisions to the D.C. Rules of Professional Conduct since the D.C. Bar adopted the Rules themselves in 1991.
Mr. Mason speaks and writes frequently on ethics and malpractice matters. He is a frequent speaker at the D.C. Bar and has also spoken before various sections of the American Bar Association, the Practising Law Institute, the America Law Institute and a number of other bar and industry organizations. He has written on such topics as non-lawyer partners and multiple “of counsel” relationships with different law firms. Mr. Mason has taught ethics and professional responsibility at the Georgetown University School of Law since 2008 and has taught on various subjects at the National Institute of Trial Advocacy, Columbus School of Law at Catholic University and American University’s Washington College of Law.
Mr. Mason has been nationally recognized by Best Lawyers and Super Lawyers and he is AV Peer Review rated by Martindale-Hubbell with a 5.0 out of 5.0 rating.
RICHARD FRIES is a co-leader of Sidley’s global real estate practice and is well-known throughout the New York and national legal, real estate and finance communities. According to Chambers USA, “true master negotiator” Richard Fries is a “superstar” who is regarded as “one of the premier real estate litigators in the City.” Chambers notes that he is “extremely well respected for his collaborative approach and expertise in complex workout and restructuring matters.” In 2014 and 2015 Who's Who Legal acknowledged Richard as one of the 10 "Most Highly Regarded" real estate lawyers in all of North America.
Richard focuses his practice on a wide array of complex real estate financing and workouts transactions, in which he represents national and global institutional lenders, investment banks and private equity firms.
Richard has been involved in the financing, foreclosure and restructuring of permanent, construction, acquisition, bridge and mezzanine loans of all types, including agented and syndicated facilities, secured by office buildings, land development projects, healthcare complexes, hotels, mixed-use projects, condominium and rental apartment buildings, shopping centers, franchise operations and automobile dealerships, among other real estate and business assets.
Richard is particularly distinguished for his work in high-profile distressed commercial loan workouts and restructurings, mortgage foreclosure, distressed portfolio and asset sales, creditors’ rights and insolvency. With a keen understanding of the “last day” of a defaulted loan workout, Richard has developed a unique market-leading practice using litigation tools to restructure real estate loans, projects and businesses. His experience and reputation in loan workouts has been acknowledged by Chambers as “legendary.”
He also has extensive experience representing private equity investors, property owners and developers in real estate joint ventures, commercial real estate litigation, construction, hospitality and partnership disputes, asset disposition, loan portfolio sales and project development.
Richard also represents national lending institutions in the purchase and sale of performing and underperforming loan portfolios, real estate assets and participation interests in loans, and the implementation of national standard loan and workout programs and documentation for real estate, commercial and private banking loan products.
Richard has been highly recognized by Chambers USA as one of the country’s leading real estate lawyers. He has been ranked by Chambers in “Band 1” in Real Estate Nationwide for 2013 (the year such rankings began) through 2016 and in “Band 1” for Real Estate Finance in New York each year from 2009 through 2016. He has also been recognized as a Leading Lawyer in The Legal 500 for Real Estate and was named by Best Lawyers as its Real Estate Litigation Lawyer of the Year in New York City in 2013.
AWARDS & HONORS
Recent Representative Transactions Include:
Jan Sternin is a Senior Vice President and Managing Director and is responsible for business development across the servicing platform. Jan has more than 28 years of experience in the financial services industry. Prior to joining Berkadia, she was responsible for business development, marketing and communications for Situs. Additionally, Ms. Sternin previously served as Senior Vice President of Commercial and Multifamily for the Mortgage Bankers Association and CEO of MISMO, the MBA’s technology initiative for creating uniform data standards for the real estate finance community. Previously, Ms. Sternin held the position of Senior Vice President at Midland Loan Services responsible for marketing and sales activities. Ms Sternin has worked with numerous governmental agencies including the Resolution Trust Corporation, Office of Thrift Supervision, Federal Savings and Loan Insurance Corporation, and the Federal Home Loan Bank System. Ms. Sternin currently serves on the Commercial Real Estate Finance Council Board of Governors. Ms. Sternin earned a B.S. in Business Administration, and an M.B.A. from the University of Missouri at Kansas City. Ms. Sternin also holds the Certified Mortgage Banker designation.