Nason Yeager represented HR-II, Ltd., a Florida limited partnership (d/b/a Federal Highway Self Storage), in connection with the defeasance of a CMBS loan and the securing of permanent financing in the amount of $11,000,000 from Goldman Sachs Bank USA for an existing climate controlled self-storage facility located in Deerfield Beach, Florida. Brian Hickey and Adam Gutin, a shareholder and senior associate, respectively, with the firm’s real estate practice group, together with Daniel Rich, an associate with the firm’s corporate practice group, worked on this transaction and the legal work involved with their representation of HR-II, Ltd. included negotiating a commitment letter, promissory note, loan agreement, opinion letter and various other customary defeasance documents and CMBS loan documents, as well as the preparation of certain related entity documents with special purpose entity (SPE) covenants.
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