Rescue Capital to the Rescue? Recapitalizing Stressed Real Estate Vehicles

Andrew J. Weiner | Pillsbury Winthrop Shaw Pittman LLP

Pillsbury Real Estate partner Andrew Weiner’s practice is global in scope, with a significant and sustained concentration on transactions in the New York metropolitan area.

Since 1976, Andrew has represented domestic and foreign clients in equity and debt transactions, the creation of real estate funds and joint ventures, and transactions involving distressed real estate.

Andrew’s practice has had a significant concentration in the hospitality and real estate investment trust (REIT) sectors, and in leasing. His clients have included funds, family offices, institutional lenders, universities, non-U.S. investors and New York City developers.

Representative Experience

• Representing a Swedish public real estate company in joint ventures with a Manhattan-based developer to acquire and develop four sites in Manhattan as boutique office buildings, and in an early-stage investment in a real estate company.
• Representing a New York-based university/medical center in its real estate transactions for over three decades, including acquisition or master lease of nine dormitories and multiple administrative facilities, over 3 million square feet of leasing as landlord or tenant, P3 transactions, development of a biotechnology center and reorganization of academic medical center as a commercial condominium.
• Represented the Greek Orthodox Archdiocese of America in negotiations with the Port Authority of New York and New Jersey to relocate St. Nicholas Church, destroyed on 9/11, to a new location at the World Trade Center site.

Professional Highlights

• Chair, Real Estate Practice Group, Lex Mundi (a preeminent worldwide association of independent law firms)
• Panelist, forum sponsored by the Mayor of the City of Osaka on its future.
• Panelist, MIPIM, Palais des Festivals, Cannes.

Joshua Becker | Pillsbury Winthrop Shaw Pittman LLP

Joshua Becker is a tax and transactional attorney with over 10 years of international law firm and accounting firm experience.

Joshua counsels clients in a diverse range of tax, transactional, business and private wealth matters. His experience includes the tax and non-tax aspects of mergers and acquisitions, investment fund formations, hedge funds, emerging company investments, family office operational and investment structures, and real estate joint ventures and investments.

A major part of Joshua’s practice is dedicated to representing significant family offices in connection with general investment structuring, M&A transactions and tax planning. Prior to joining Pillsbury, Joshua was a founding member of a multifamily office and a registered investment advisor dedicated to blockchain and digital asset investors, founders and entrepreneurs.

Honors and Awards

• Recognized by Citywealth as a Top 15 U.S. Legal Crypto Practitioner (2022)

Speaking Engagements

• “Planning for the Rescue Capital Wave of 2023: Tax and Non-Tax Considerations for Rescue Capital Transactions,” Strafford Webinar, March 7, 2023
• “Key Tax and Non-tax Considerations When Funding Family Offices in the USA,” Chambers Expert Focus Podcast, November 15, 2022
• “The Evolving Role of Third-Party Service Providers to Family Offices,” Indiana University Maurer School of Law Inaugural Conference, November

I. Why are so many real estate companies in need of recapitalization? | 12:00pm – 12:30pm

II. On what terms is the new money available? | 12:30pm – 1:00pm

Break | 1:00pm – 1:10pm

III. What are the issues to be negotiated and the pressure points both for old and new investors? | 1:10pm – 1:40pm

IV. What tax issues and strategies arise in negotiating these transactions? | 1:40pm – 2:10pm