Jeffrey A. Petit

Clients rely on Jeff to "skillfully handle difficult transactions as well as form relationships with borrowers and mortgage correspondents." He is particularly well versed in advising banks and wider financial institutions on real estate finance matters.—Chambers USA

Lenders, borrowers, and investors rely on Jeffrey Petit to help them structure commercial real estate financings, development investments, and acquisitions and dispositions of retail centers, office parks, residential developments and hotels. Investment banks, commercial banks and insurance companies turn to Jeff to assist them in closing on loan transactions ranging from construction loan financing to co-lending arrangements to mortgage loan workouts. While Jeff closes on financing connected to properties or developments throughout the United States, he has been involved with a number of commercial real estate deals in Newark, including One Theater Square and redevelopments of the former Hahne department store and New Jersey Bell building.

Jeff advises commercial investor clients on various aspects of their large real property portfolios. His experience in this area includes representing a purchaser in a multibillion-dollar acquisition of more than 200 properties, a lender in a $105 million loan secured by 14 hotels, and a seller in the sale of two office buildings with an aggregate sales price of $268 million.

A recurring guest lecturer for the “Legal Issues in Hospitality” course at New York University School of Continuing & Professional Studies, Jeff has lectured on negotiating acquisitions and sales of hotels, including discussing common legal pitfalls of hotel investors.

Jeff is also a member of the firm’s Executive Committee.

Negotiated a number of loans secured by real property portfolios for this large insurance company, including a $75 million loan with a complex cross-collateralization structure involving two multi-family apartment complexes in Massachusetts.

Represented the social investment arm of a multinational financial services company in financing a large construction loan and in related historic tax credit and new market tax credit financings as part of a joint venture redeveloping the more than 400,00-square-foot former historic art-deco headquarters of New Jersey Bell at 540 Broad Street in Newark, New Jersey into a 260-unit, mixed-use apartment, office and retail complex.

Represented a property management company in the sale of seven apartment complexes located throughout New Jersey.

Represented a major Colorado-based life and annuity company in financing a $78 million permanent loan for a combination offices and residences site in New York City.

Represented a multinational financial services company in financing a $30 million construction loan for the development of One Theater Square, a 22-story, 245-unit multi-family, mixed use apartment complex in downtown Newark, New Jersey, the first new ground-up upscale residential high rise in the city since 1960. We represented the client in related tax credit and bond financings.

Represented a multinational financial services company in a joint venture with a developer involving the multi-use redevelopment of a 400,000-square-foot former department store in Newark, New Jersey, which includes a 30,000-square-foot supermarket on its first floor. We helped the client secure financing through a partnership between public, non-profit, and private groups.

Represented a major financial services company in financing a $117 million syndicated loan for a university housing project in Philadelphia and in the post-closing syndication of the loan.

Represented a major financial services company in financing a $200 million syndicated permanent term and construction loan secured by a portfolio of more than 50 industrial buildings.

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