David I.Paulson

Partner

San Francisco + 1.415.875.5794

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David Paulson's practice centers around the representation of private capital providers, debt funds, and commercial lenders in complex real estate finance transactions as well as the resolution and restructuring of distressed loans.

David's areas of special focus include hospitality, single-family for rent housing, multifamily, office, retail, studio, industrial, senior housing, and data center properties, as well as secured and unsecured lines of credit for real estate investment trusts (REITs), regional and national homebuilders, and real estate funds. Additionally a significant portion of his time is spent working with mezzanine, A/B, preferred equity, and other forms of subordinated financing.

David's workout experience spans the gamut from the restructuring and exercise of remedies with respect to single-asset secured transactions, to the workout of large secured and unsecured syndicated public-company credits, including within bankruptcy and litigation. David also has led numerous large and small note purchase and sale transactions, including global purchases of large multicountry loan portfolios and the purchase and sale of small pools of nonperforming loans.

David helps coordinate Jones Day's real estate finance area and frequently presents seminars and trainings on all aspects of real estate financing and workouts.

Experience

  • Large financial institution arranges $1.85 billion multicurrency credit facility for real estate investment fundJones Day represented a large financial institution, as administrative agent, in connection with a $1.85 billion unsecured credit facility, consisting of a US$825 million revolving credit facility, a CA$175 million alternative currency revolving credit facility, and a US$850 million term loan facility, provided to a real estate investment fund.
  • Wells Fargo provides $240 million syndicated, senior-secured construction loan for 685-unit residential building in downtown Los Angeles, CaliforniaJones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection with a $240 million syndicated, senior secured construction loan for the construction of a multi-family residential building containing 685 units located in downtown Los Angeles, California.
  • Wells Fargo provides $55 million senior term loan secured by retail power center located in Oceanside, CaliforniaJones Day represented Wells Fargo Bank, National Association in connection with a $55 million senior term loan secured by a retail power center located in Oceanside, California.
  • Major financial institution provides $150 million term loan facility secured by state of art cancer treatment center in New York CityJones Day represented a major financial institution, as administrative agent, in connection with a $150 million term loan facility secured by a state of the art cancer treatment center located in New York City.
  • Blackstone acquires $1.0 billion Performing Senior Mortgage Loan Portfolio from Deutsche PfandbriefbankJones Day advised Blackstone Real Estate Debt Strategies in the acquisition of a $1.0 billion performing senior mortgage loan portfolio from German lender, Deutsche Pfandbriefbank (PBB).
  • Wells Fargo and group of lenders provide $475 million senior unsecured revolving credit facility to large real estate investment management firmJones Day represented Wells Fargo Bank, National Association, as administrative agent and joint lead arranger, in connection with a $475 million syndicated, senior unsecured credit facility comprised of a $325 million revolving credit facility and a $150 million term loan facility.
  • Wells Fargo-led syndicate provides $3 billion "Green Loan" revolver secured by eight data center propertiesJones Day represented Wells Fargo Bank, National Association, as administrative agent and lender, and Wells Fargo Securities, LLC, as arranger and green loan coordinator, in connection with a $3 billion syndicated revolving credit facility, the proceeds of which are to be used consistent with Green Loan Principles and secured by eight data center properties across Arizona, Georgia, Nevada, Texas, Virginia, and Washington.
  • Wells Fargo provides $300 million syndicated revolving credit facility to national owner/operator of marina facilitiesJones Day represented Wells Fargo Bank, National Association, as administrative agent, left lead arranger, and lender, and another financial institution, as a joint lead arranger and a lender, in connection with a $300 million syndicated, pledge-secured, revolving credit facility provided to a national owner/operator of marina facilities.
  • Wells Fargo-led syndicate provides $1.3 billion term loan facilities for assumption by real estate investment trustJones Day represented Wells Fargo Bank, National Association, as administrative agent, and Wells Fargo Securities, LLC, as arranger, in connection with the assumption by a real estate investment trust of two senior unsecured term loan facilities of $1.3 billion, consisting of a $800 million term loan facility with a $300 million tranche, a $500 million tranche, and a $500 million single tranche term loan facility.
  • Hard Rock partners with Steve Cohen to bid for casino and entertainment complex in New YorkJones Day advised Hard Rock International in connection with its partnership with Steve Cohen, owner of the New York Mets, for a bid to secure a downstate New York gaming license.
  • National bank sells $160 million syndicated loan secured by an office buildingJones Day advised a national bank, as administrative agent, in connection with the sale of an approximately $160 million distressed syndicated loan secured by an office building.
  • Wells Fargo and syndicate of lenders provide $600 million secured construction loan facility to industry-leading data center operatorJones Day represented Wells Fargo Bank, National Association, as administrative agent and a lender, and Wells Fargo Securities, LLC, as left lead arranger, in connection with the modification and $300 million upsize to an existing $300 million senior secured construction loan secured by a to-be-constructed data center buildings located in Goodyear, Arizona.
  • Wells Fargo amends and restates $650 million senior secured revolving credit facility for publicly traded real estate investment trustJones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection with the amendment and restatement of a $650 million senior secured revolving credit facility for a publicly traded real estate investment trust.
  • Wells Fargo refinances $1.225 billion unsecured credit facilityJones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection the refinancing of a $1.225 billion unsecured credit facility, inclusive of a $600 million revolving credit facility, a new $225 million tranche A-1 term loan facility, and an existing $400 million tranche A-2 term loan facility for a publicly traded real estate investment trust.
  • Wells Fargo provides $66.2 million term loan facility secured by hotel and resort in Hilton Head Island, South CarolinaJones Day represented Wells Fargo Bank, National Association in connection with a $66.2 million term loan facility secured by a 202 room hotel and resort in Hilton Head Island, South Carolina.
  • Wells Fargo and syndicate of lenders provide $300 million secured construction loan facility to industry-leading data center operatorJones Day represented Wells Fargo Bank, National Association, as administrative agent and lender, and Wells Fargo Securities, LLC, as left lead arranger, in connection with a $300 million senior secured construction loan secured by a to-be-constructed data center building located in Goodyear, Arizona.
  • Wells Fargo upsizes its existing secured construction loan for data center provider to $280 millionJones Day represented Wells Fargo Bank, National Association, as administrative agent and lender, and Wells Fargo Securities, LLC, as sole lead arranger, in connection with the syndication and upsize to $280 million of an existing secured construction loan provided to a data center provider.
  • MassMutual negotiates and documents warehouse facility for real estate secured loansJones Day represented Massachusetts Mutual Life Insurance Company in negotiating and documenting a warehouse facility for real estate secured loans, each backstopped by a take-out commitment from a third party.
  • Wells Fargo and group of lenders provide $525 million unsecured revolving credit facility to large real estate investment management firmJones Day represented Wells Fargo Bank, National Association, as administrative agent and lead arranger, in connection with a $525 million syndicated senior unsecured revolving credit facility provided to a large real estate investment management firm.
  • Wells Fargo provides $43 million secured term loan facility to refinance and renovate hotel located in Bend, OregonJones Day represented Wells Fargo Bank, National Association, as administrative agent and lender, in connection with a $43 million senior secured term loan facility provided to refinance and renovate a 221 room hotel located in Bend, Oregon.
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    August 2023 Commentary

    Federal Banking Agencies Propose Increased Capital Requirements for Large Banks

    AUGUST 2020 Commentary

    California 2020 Ballot Initiatives Pose Risk of Major Changes to Commercial Real Estate

    April 2020 Commentary

    Relief for Multifamily Borrowers and Tenants in the CARES Act

    February 2013 Alert

    California Supreme Court Allows Parol Evidence to Prove Fraud

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