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Jeffrey A. Petit
Alternate image for Jeffrey A. Petit

Jeffrey A. Petit

Partner

Executive Committee

973.639.8460
Newark
East Brunswick
jpetit@mccarter.com

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.

Representative Matters

Large insurance company—Financings

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.

Multinational financial services company—Construction loan

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.

Property management company—Sale

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

Life and annuity company—Loan

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.

Multinational financial services company—Construction loan

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.

Multinational financial services company—Construction loan

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.

Major financial services company—Loan syndication

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.

Major financial services company—Loan syndication

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.

Highlights

Recognitions

Recognition image 10957
The Best Lawyers in America, Real Estate Law, New Jersey, 2013–2023
Recognition image 10954
Chambers USA, Real Estate, New Jersey, 2016–2023
Recognition image 10959
New Jersey Super Lawyer, 2008-2016, 2018
Jeffrey Petit is a “tremendous attorney” who has “a great demeanor” and “provides very business practical advice.”—Chambers USA
Ranking Disclaimers: No aspect of this advertisement has been approved by the Supreme Court of New Jersey. For Chambers methodology, see https://chambers.com/about-us/methodology. For The Best Lawyers in America methodology, see https://www.bestlawyers.com/methodology. For SuperLawyers methodology, see https://www.superlawyers.com/about/selection_process.html.

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Services

Real Estate
Real Estate Finance
Real Estate Acquisitions & Development
Financial Institutions
Impact Investing
Hospitality

Education

New York University School of Law JD, 1995
New York University BA, 1992

Bar Admissions

New Jersey
New York

Memberships & Certifications

American College of Mortgage Attorneys

New Jersey State Bar Association

New York State Bar Association

Insights Awards Stars
News|Recognition
McCarter & English Earns 25 Group and 54 Individual Rankings in Chambers USA 2023
Chambers USA
6.1.2023
Insights Awards Trophy
News|Recognition
The Best Lawyers in America Recognizes 153 McCarter Attorneys in 2023 Referral Guide; Names Four “Lawyer of the Year”
The Best Lawyers in America
8.19.2022
Insights Awards Top Stars
News|Recognition
Chambers Ranks 50 McCarter Lawyers and 16 Practice Areas for 2022
6.6.2022
Media item displaying Construction & Real Estate Clients Often Require Vigorous Advocacy
News|Quote
Construction & Real Estate Clients Often Require Vigorous Advocacy
Commerce Magazine NJ
1.5.2016
Insights News Printing Press
News
New York Real Estate Journal: Professional Profile
New York Real Estate Journal
2.10.2014
McCarter & English, LLP
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