In March 2020, Day Pitney represented a Connecticut-based investment management firm in connection with the formation of a single asset real estate fund to invest in a joint venture with an Asia-based family office operating partner, which manages a private investment firm specializing in equity and debt commercial real estate investments. Through the real estate fund's investment in the joint venture entity, the fund's investors would indirectly invest in multifamily apartment buildings, the purchase of which were capitalized by a senior loan. The Day Pitney team, consisting of Peter Bilfield, Eliza Fromberg and Lydia Joo Lee, advised the client on the preparation of offering documents, including a limited liability company agreement with appendices addressing risk factors, conflicts of interest and U.S. tax and ERISA considerations, and a subscription agreement. Day Pitney also negotiated the terms of the joint venture with the operating partner, formed a sub-advisory entity to be partially owned by the real estate fund's portfolio manager, and negotiated the terms of the portfolio manager's relationship with the investment manager. Tax assistance was provided by Steve Ziobrowski and Justin Hannan.
Day Pitney Real Estate Partners Nicole Magdziak and Thomas Malman represented firm client Kushner, a real estate development and management firm headquartered in New York City, on a multimillion dollar mixed use residential and retail development in the Long Branch, NJ’s Lower Broadway redevelopment zone.
Day Pitney Real Estate, Environmental and Land Use practice co-chair Craig Gianetti was featured in Law360 article "NJ Bill Paves An Aggressive Affordable-Housing Path."
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The arrival of Steven Wernick and Joseph Ruiz of Wernick & Co to Day Pitney's Miami office was featured in Miami Today's People column. Wernick and Ruiz are joining the firm's real estate, environmental and land use practices as a partner and counsel. Wernick & Co. built its reputation in the Miami area through experience in land use and zoning.
The Day Pitney Real Estate, Environmental, and Land Use Team, led by practice co-chair Katharine Coffey, represented the developers Russo Development, Onyx Equities LLC, and Dinallo Development LLC/Terminal Construction in connection with multiple transactions facilitating the development of Hackensack Meridian Health's $200 million, first-of-its-kind health care facility at Metropark, a mass transit hub in Woodbridge, NJ.
The arrival of Miami Attorneys Steven J. Wernick and Joseph Ruiz was featured in The Real Deal's Movers and Shakers column. Wernick, who joined as a partner, previously founded Wernick & Co, a Miami-based law firm specializing in land use and urban redevelopment.
Day Pitney Partners Stephen Catanzaro, Laurence Smith, and Elizabeth Yoo were featured in New Jersey Law Journal's 2024 New Partners Yearbook, which highlights partners, including lateral partners, made or hired at New Jersey firms.
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