Jennifer Eiteljorg's Legal Cases (2)

Real estate

Springhill Acquisition Loan

Jun 30, 2008

OUTCOME: Closed $241,500,000 Loan in Greenbelt, Maryland

I represented a national banking association in originating a $241,500,000 acquisition loan for the Springhill Lake Apartment complex in Prince George's County, Maryland. The property consisted of app ... roximately 3,000 apartment units on 155 acres of land. The property had recently suffered fire damage and was being restored while we were performing due diligence and preparing to close. The property also had numerous code violations and title issues that needed to be addressed. My team worked with counsel for the Seller, counsel for the Buyer/Borrower, and counsel for two different mezzanine lenders in funding the transaction and closing the acquisition on a very tight deadline.

Real estate

Palazzo Verdi Construction Loan

N/A

OUTCOME: Closed $72,000,000 construction loan for lender

I represented a national banking association in the construction financing of a privately owned office tower that was constructed on top of a parking garage owned by a local business improvement distri ... ct ("BID"). The BID was expanding the parking garage at the same time, and issued tax exempt bonds to finance the expansion. I worked with counsel for the borrower/developer and counsel for the BID to impose a condominium structure on the parcel, so the garage and the office tower could be separately owned and financed. The construction was completed earlier this year, and the office tower is fully leased.

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