Practice Group: Real Estate Finance
Practice Group Leader: Charles J. Wilkes, Esq.
- Represented a New Jersey bank in connection with the $20,000,000 refinance of a portfolio of retail properties in Bergen, Hudson and Union Counties.
- Represented an international bank in connection with $21,000,000+ in revolving and term loan credit facilities to a New Jersey-based distributor, secured by a mortgage on New Jersey industrial property.
- Represented a national bank in connection with the $30,000,000 refinance of a Mercer County apartment complex.
- Represented a New Jersey developer in connection with a $21,650,000 agency refinance of a Gold Coast apartment complex.
COVID-19 Impact and Moving Forward: As most people in our industry are aware, COVID-19 has had a particularly detrimental impact on mortgage loans in the office, retail and hospitality sectors. As a result, lenders have certainly been more conservative in their approach to new loans and new borrowers across the board. However, we continue to see lenders and borrowers working collaboratively together to close deals in this difficult environment.
We do believe that the commercial real estate market is fundamentally strong, and there remains a strong desire to complete new deals. We expect to see an increase in lending transactions in 2021, with low interest rates continuing to prevail. As it has been during this past year, the industrial sector will continue to be a source of growth in 2021, and if the newly-announced vaccines and improved treatments for COVID-19 prove to be successful, there will be increased activity in the hard hit sectors of office, retail and hospitality as well.
MSW’s attorneys have the experience to assist lenders and borrowers alike in navigating through the turbulence of the current market
Murphy Schiller & Wilkes LLP is a boutique law firm specializing in commercial real estate and development matters. Headquartered in Newark, NJ, the firm was founded to provide effective, efficient, and creative legal services to meet the distinctive needs of our clients. Through the development of comprehensive legal strategies, our team works tirelessly to create a blueprint for success and advance our clients’ interests in every matter.