John M.Rafkin

Of Counsel

Chicago + 1.312.269.4008

Collegati

Condividi

John Rafkin has more than 30 years of experience representing lenders and borrowers in complex senior and subordinate real estate financings, including single property and multi-asset construction, acquisition, revolver, commercial mortgage-backed securities (CMBS) loan-on-loan, and Shari'ah-compliant financing. John has substantial experience with mezzanine, A/B, and preferred equity forms of subordinated financing. The security for these loans covers all types of real estate, including industrial and corporate, office, retail, student housing, senior housing and multifamily buildings, and portfolios. He has especially deep experience with hospitality financing.

John's practice also focuses on the workout of troubled real estate loans, including complex, multi-tiered loan restructurings, discounted payoffs, bankruptcy, deficiency notes, and other settlement structures. He has extensive experience in the syndication, assignment, and participation of all forms of financing and represents purchasers and sellers of performing and nonperforming loans and loan pools. In addition, he represents developers and other property owners in the acquisition, development, construction, and sale of real estate and landlords, lenders, and tenants in office, retail, and industrial leasing.

John is chairman of the board of directors of the Frank Lloyd Wright Trust, the organization that restores and operates the Frank Lloyd Wright Home and Studio, Robie House, Unity Temple, and other Chicago area sites. He is also vice president of SELVN, a Chicago political advocacy organization, where his interests and energies are directed toward historic and architectural preservation.

Esperienze

  • MRESC-K obtains warehouse financing facilityJones Day represented MRESC-K, a joint venture among certain entities managed by Makarora Management LP and KREI Credit Opportunities, LLC, in connection with a master repurchase agreement that provides MRESC-K, through a wholly-owned subsidiary of the fund, with warehouse financing for commercial real estate loan acquisitions.
  • TriGate Capital provides preferred equity for Class A apartment complex in Phoenix, ArizonaJones Day advised TriGate Capital, LLC, in the provision of preferred equity for the acquisition of a Class A apartment complex located in Phoenix's Midtown submarket by TriGate's Growth and Income Partnership.
  • Koch obtains financing for office tower in TennesseeJones Day advised a joint venture between a subsidiary of Koch Industries, Inc., and GBT Realty, on a $174.6 million financing of a 24-story office tower (with retail) in Nashville, Tennessee.
  • Stonemont acquires industrial facility in West Jefferson, OhioJones Day advised Stonemont Financial Group, LLC in the acquisition and financing of a 1,090,000-square-foot spec industrial facility in West Jefferson, Ohio.
  • Wells Fargo provides $370 million syndicated loan secured by 30 limited-service hotelsJones Day represented Wells Fargo Bank, National Association, as administrative agent, and Wells Fargo Securities, LLC, as left lead arranger and sole bookrunner, in connection with a $370 million syndicated senior loan secured by 30 limited-service hotels located across 17 states.
  • Wells Fargo provides $140 million senior construction loan to developer of 500-room resort and waterpark in Naples, FloridaJones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection with a $140 million senior construction loan provided to the developer of a 500-room resort and waterpark in Naples, Florida.
  • Wells Fargo provides $114 million financing for multifamily building in Raleigh, North CarolinaJones Day advised Wells Fargo Bank, National Association, in connection with a $114 million intercreditor arrangement on a senior/mezzanine financing for a multifamily building in Raleigh, North Carolina.
  • Wells Fargo provides financing as part of $160.896 million facility for life science property complex in Watertown, MassachusettsJones Day advised Wells Fargo Bank, National Association, in connection with a $160.896 million asset-based note facility and negotiation of co-lender agreement for the financing of a life science property complex in Watertown, Massachusetts.
  • Wells Fargo provides $218 million financing for office tower in Oakland, CaliforniaJones Day advised Wells Fargo Bank, National Association, in connection with a $218 million intercreditor and co-lender arrangement on a senior/mezzanine financing of an office tower in Oakland, California.
  • Wells Fargo provides $56.5 million financing for office and retail condominium project in Denver, ColoradoJones Day advised Wells Fargo Bank, National Association, in connection with a $56.5 million asset-based note facility and negotiation of co-lender agreement for the financing of an office and retail condominium project in Denver, Colorado.
  • Wells Fargo provides $52.815 million financing for distribution building in Fairfield, CaliforniaJones Day advised Wells Fargo Bank, National Association, in connection with a $52.815 million asset-based note facility and negotiation of a co-lender agreement for the financing of a distribution building in Fairfield, California.
  • Wells Fargo provides financing for construction of mixed-use project in Atlanta, Georgia known as “Midtown Union"Jones Day represented Wells Fargo Bank, National Association in connection with aggregate loans in the amount of $300 million for the construction of a mixed-use project in Atlanta, Georgia known as “Midtown Union".
  • Wells Fargo provides $140 million loan secured by substantially all of vertically subdivided Class "A" office building in Chicago, IllinoisJones Day advised Wells Fargo Bank, National Association in connection with a $140 million loan secured by substantially all of a vertically subdivided Class "A" office building in Chicago, Illinois, the purpose of which was to refinance existing debt and to pay for significant tenant improvements and leasing costs at the building.
  • Wells Fargo provides financing to portfolio of office buildings located in Arizona, California, North Carolina, Georgia, and ColoradoJones Day advised Wells Fargo Bank, National Association in connection with a $134 million loan to refinance a portfolio of office buildings located in Arizona, California, North Carolina, Georgia, and Colorado.
  • Wells Fargo provides financing to developer and operator of student housing projects in Georgia, Tennessee, and North CarolinaJones Day advised Wells Fargo Bank, National Association in connection with a loan made to a developer and operator of student housing projects in Georgia, Tennessee, and North Carolina.
  • Wells Fargo provides $357.5 million senior term loan secured by office tower in Midtown ManhattanJones Day represented Wells Fargo Bank, National Association, as administrative agent, sole lead arranger, sole bookrunner, and lender, in connection with a $357.5 million senior syndicated term loan secured by an 815,000 square foot, fifty-story office tower located in Midtown Manhattan.
  • Wells Fargo provides financing secured by portfolio of office buildings in Texas, as well as intercreditor agreement to finance acquisition of office building in CaliforniaJones Day advised Wells Fargo, National Association in connection with the purchase of an approximately $121 million loan secured by a portfolio of office buildings in Texas, as well as its related negotiation of an intercreditor agreement with the mezzanine lender, and a subsequent loan increase to finance the acquisition of an office building in California.
  • Wells Fargo provides $210 million financing secured by portfolio of office buildings located in California, Colorado, and TexasJones Day advised Wells Fargo, National Association in connection with a $210 million syndicated credit facility, consisting of a revolving credit facility, a swingline subfacility, and a letter of credit subfacility, secured by a portfolio of office buildings located in California, Colorado, and Texas.
  • Greystar Real Estate Fund obtains financing for operating and related purposesJones Day advised Greystar Real Estate Fund, as borrower, in connection with a $200 million revolving, swingline and letter of credit facility from Capital One, National Bank for operating and related purposes.
  • Wells Fargo purchases financing of office building in Washington, D.C.Jones Day represented Wells Fargo Bank, National Association as senior lender in connection with its purchase of a loan made to finance the acquisition of a 407,113 square foot office building in Washington, D.C., as well as its related negotiation of an intercreditor agreement with the mezzanine lender.

    • The following represents experience acquired prior to joining Jones Day.

    Represented a large institutional lender in connection with its mezzanine positions in a $1.5 billion debt stack on a portfolio of Chicago office buildings.

    Represented a large institutional lender with an approximately $400 million Shari'ah-compliant construction financing for a multiuse (office, retail, and multifamily) project in Washington, DC and closed Shari'ah-compliant acquisition loans on a portfolio of industrial and office buildings in Florida and on an office building in Houston.

    Represented a large institutional lender on an approximately $140 million acquisition loan for an office building in Chicago.

    Represented a large institutional lender on an approximately $100 million senior loan (and negotiation of a mezzanine intercreditor) for a portfolio of logistics and bulk distribution industrial facilities located throughout the United States.

    Represented a large institutional lender in the restructuring and transfers in lieu of foreclosure of a portfolio of loans totaling approximately $700 million. The properties included housing projects, undeveloped land, and multifamily, resort, retail, and office properties located throughout the United States.

    Represented a large institutional lender in the restructuring of an approximately $1.5 billion multilevel debt stack on a portfolio of 25 hotels, with related transfers, bankruptcy structure, and litigation.

    Represented a large institutional lender in the restructuring of an approximately $1.5 billion debt stack (for both its senior and mezzanine positions) relating to a pool of office buildings in Chicago.

    Represented a large institutional lender on its purchase of multiple pools of performing and nonperforming real estate loans, totaling hundreds of loans with an aggregate value of $2 to 3 billion.

    Represented the purchaser of a portfolio of approximately 2,500 single family homes throughout the United States (which was then the largest purchase of its kind to date).

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