Martin Dowd has been honored with the New Jersey Law Journal Dealmaker of the Year award, notably for his multi-practice team’s work negotiating the purchase of 101 Hudson (aka as the Merrill Lynch Building) in Jersey City, NJ, one of the largest real estate transactions in 2022. “It is an honor,” Dowd said. “My team works hard to be flexible and creative at finding new opportunities for clients and to navigate them through complex issues to close on important transactions.” To finance the 101 Hudson acquisition, his team negotiated with a special servicer to assume a $250 million commercial mortgage-backed security loan and negotiated the structuring of both a preferred equity investment and common equity in excess of $120 million. Due to the size of the CMBS loan, the firm’s work included obtaining the approval of three credit rating agencies to complete the loan assumption. In McCarter’s own Newark headquarters backyard, Dowd has also represented The Newark Museum of Art concerning agreements with a developer constructing an $85 million mixed-use development that will include 250 apartments spread across two buildings, additional gallery space, and retail space.
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