| Biography:
Steven L. Lichtenfeld is a member of Proskauer Rose LLP and is co-Chair of each of Proskauer's Real Estate Finance and Real Estate Capital Markets Groups. Mr. Lichtenfeld regularly advises financial institutions, investment banking firms, real estate funds, institutional lenders, specialty lenders, hedge funds, REITs and pension advisors regarding public offerings and private placements of debt and equity securities, mergers and acquisitions, senior and mezzanine financings and other corporate, partnership and limited liability company matters.
Mr. Lichtenfeld has been selected for inclusion in Chambers USA 2007 and 2008, which describe him as “a strong advocate who will leave no stone unturned." Mr. Lichtenfeld has also been selected as a Super Lawyer in New York for 2006 in the area of real estate law.
Real Estate Finance
Mr. Lichtenfeld’s practice encompasses many aspects of real estate finance. These include commercial mortgage-backed loan origination; multiproperty and multistate mortgage financing; single and multiple tier mezzanine, preferred equity and so-called bifurcated (or “A-B” structure subordinated note or participation interest) secured financing transactions; multiple tier intercreditor relationships; bridge loans; construction loans; warehouse facilities; loan credit facilities to real estate funds; acquisitions and sales of real estate indebtedness; repurchase transactions; and mortgage foreclosures, workouts and restructurings. In this area of his practice, Mr. Lichtenfeld represents Capmark Finance, CapitalSource Finance, CW Capital, Emigrant Finance, Petra Capital and Wachovia.
Real Estate Funds
Mr. Lichtenfeld also has an active practice representing sponsors of real estate funds. Mr. Lichtenfeld has been actively involved in the formation of funds as REITs as well as funds that involve innovative structures that allow United States and offshore investors a flexible, tax-efficient investment vehicle. Among the fund sponsors Mr. Lichtenfeld has represented are Investcorp, Pembrook Capital, Thor Equities and TriLyn.
Mr. Lichtenfeld also represents real estate funds in their private equity investments. Mr. Lichtenfeld regularly represents his real estate fund clients in all different stages of investment – growth capital, mature private equity, and other leveraged acquisitions and recapitalizations of successful and less successful companies, and other special situations. His representations on behalf of these clients have also included joint ventures, tender offers, acquisitions of performing and non-performing debt, property acquisitions and dispositions, real estate operating company formations and significant property contributions to public companies on a tax-efficient basis. Mr. Lichtenfeld has advised real estate funds Cerberus Capital, Capmark Investments, DLJ Real Estate Capital Partners, Lightstone, Marathon Real Estate, MSD Capital and Thor Equities in connection with their fund investments.
Real Estate Capital Markets
Mr. Lichtenfeld’s practice also encompasses the representation of both underwriters and issuers in REIT initial public offerings and follow-on offerings. He has acted as issuer's counsel in numerous public offerings; including the IPO for American General Hospitality Corporation, a lodging company, and Tower Realty Trust, Inc., an office building REIT. Mr. Lichtenfeld has acted as underwriter's counsel in connection with REIT offerings for major investment banking firms, including Citigroup, Legg Mason and Merrill Lynch.
REIT Mergers and Acquisitions
Mr. Lichtenfeld’s practice also includes mergers and acquisitions and leveraged buyouts, particularly involving public companies. He represented American General Hospitality Corporation in its merger with CapStar Hotel Company forming the first "paper-clipped" lodging REIT; Tower Realty Trust's merger with Reckson Associates Realty Corp.; the management group of Sunstone Hotel Investors in connection with their management buyout; RPS Realty Trust's merger with Ramco-Gershenson, Inc. to form Ramco-Gershenson Properties Trust; Atlantic Realty Trust’s merger with Kimco Realty; Formation Capital’s merger and sale of its health care portfolio to GE Capital; and The Lightstone Group’s acquisition of Extended Stay Hotels.
Mr. Lichtenfeld is a frequent speaker at real estate industry conferences, including NAREIT, the Information Management Network and the Strategic Research Institute.
Mr. Lichtenfeld received his B.S.B.A. (with honors) from Washington University and his J.D. from American University's Washington College of Law.
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