FORT LAUDERDALE, Fla. – June 8, 2018 – A cross-sectional and cross-office team of Buchanan tax, finance, real estate, corporate and bankruptcy attorneys represented Aventura Mall Venture, a Turnberry Associates and Simon Properties affiliate, in the $1.75 billion refinancing of Aventura Mall in Aventura, Florida.
The financing was provided by JPMorgan Chase Bank, Wells Fargo Bank, Deutsche Bank and Morgan Stanley Bank and closed on June 7, 2018, with a potential Single-Borrower Single Asset securitized transaction contemplated in the near future.
“As part of our long time client relationship with Aventura Mall Venture, Buchanan has been privileged to serve as counsel on a number of previous development and financing transactions for this property and we’re pleased to continue in that role for this latest deal,” noted Jack J. Kessler, shareholder in Buchanan’s Tax section.
“This transaction is important because it enables Aventura Mall to refinance on attractive terms, positioning ownership to sustain its already robust growth strategy,” added Rebecca Livingston Lando, shareholder in Buchanan’s Finance section.
Jack Kessler (Ft. Lauderdale and Pittsburgh), Rebecca Livingston Lando (Pittsburgh) and Bruce Booken (Ft. Lauderdale), shareholder and co-chair of the Tax section, led the Buchanan team which also included Jason A. D’Amico (Pittsburgh), shareholder in the Real Estate practice, George L. Cass (Pittsburgh), of counsel in the Bankruptcy practice, Rebecca S. Trinkler (Ft. Lauderdale), counsel in the Real Estate practice, and Haley R. Ayure (Tampa), associate in the Corporate section.
Aventura Mall is one of the nation’s premier retail shopping destinations and features a collection of upscale boutiques and more than 300 of the world’s most iconic, recognized retailers.