Practice
Peter Strauss, a counsel in Shearman & Sterling’s New York office, is a member of the firm’s Real Estate Group. Mr. Strauss has over 25 years of experience in a broad range of transactional work, including past experience with New York City and international law firms, and as Senior Vice President and Assistant General Counsel, Business and Legal Affairs, for the world’s largest diversified venue owner and operator for, and promoter and producer of, live entertainment events.

Mr. Strauss has advised and negotiated on behalf of clients in a wide range of transactions, including: (i) sales and acquisitions of real property, including office parks, apartments, condominiums, entertainment venues, radio and television broadcasting towers, hotels and golf courses, (ii) leasing of real property, representing both owners and tenants in complex lease transactions in New York City and throughout the United States, including headquarters leases, groundleases and leases affecting commercial, entertainment, and retail and mixed use properties, (iii) representation of mortgage lenders and lending participants in lending activities, including workouts, and advising master and special servicers in securitized loans and intercreditor agreements, (iv) representation of borrowers and lenders in multi-site/multi-state lending transactions and credit facilities, (v) pre-development, development and construction of domestic and international properties, including office properties, entertainment and sport venues and renovations of historic venues, (vi) structuring and advice in connection with business combinations, such as partnerships, limited liability companies, closed corporations and joint ventures, (vii) representation of clients in connection with bond issuances, such as industrial development agency financing and economic development packages with local and state development authorities, and (viii) representation of broadcasting companies in connection with radio station acquisitions and secured financing transactions.

• The owner of 9 West 57th Street, New York, New York, one of New York City’s most, if not the most, prestigious office buildings with respect to a $625 million single asset securitized loan originated by German American Capital Corporation and on-going lease transactions for the 1,500,000 square foot office tower, including recent lease transactions affecting more than 580,000 rentable square feet
• Trinity Church Real Estate, as ground lessor, with respect to a 99-year ground lease of a development site at 330 Hudson Street in the Hudson Square Neighborhood of Manhattan to Beacon Capital for the development of a 350,000 square foot office building with ground floor retail
• SL Green Realty Corp. in an amendment of its lease with The City of New York, affecting approximately 353,000 square feet of office and 19,000 square feet of below-grade space at 100 Church Street, extending the term of the City’s occupancy for 20 years, and a new lease with the City affecting more than 132,000 square feet of additional space covering the same term
• A leading international investment advisory firm with regard to the leasing of 450,000 square foot headquarters in a new 31 story building on the Fort Point Channel in Boston, Massachusetts constructed to suit the client
• IntercontinentalExchange, Inc. (NYSE: ICE), one of the world’s largest global commodity and financial products marketplaces, as tenant, with respect leasing approximately 94,000 square feet for its New York City headquarters
• Orbimed Advisors, as tenant, with respect to a lease of 31,500 square feet constituting the entire 54th Floor at Citigroup Center
• Deutsche Bank AG, New York Branch, as administrative agent, and Deutsche Bank Securities Inc., as joint lead arranger and joint bookrunning manager, in a syndicated $600 million unsecured multi-currency revolving credit facility for Brookfield Properties Corporation
• Lead lender and administrative agent in connection with a $500 million Mexican cross-border syndicated credit facility
• One of the world’s largest banks as administrative agent for a large syndicate of lenders in the restructuring of the construction loan affecting a 92-story iconic luxury hotel and residential condominium tower and related retail and public space components in Chicago, including advice during an extended forbearance period during which the lenders continued funding to ensure final completion of the project and the continuation of sales of condominium units
• Citigroup Global Markets Realty Corp. in the foreclosure of a $70 million mezzanine loan and the acquisition of ownership interests in the St. Regis Monarch Beach Resort in Dana Point, California
• Deutsche Bank Trust Company Americas in the consummation of a mortgage foreclosure on the $3.5 billion Cosmopolitan Resort & Casino in Las Vegas, as part of the workout settlement following a default on the project’s $1.4 billion construction loan. The project is constructed on an 8.5 acre site, which includes an 80,000 square foot casino with two high-rise towers and ancillary amenities on the Las Vegas strip. Industry sources have referred to this foreclosure as the largest 2008 commercial loan foreclosure in the United States
• A large private REIT in connection with its involvement in an approximately $800 million project on a development site in the “Riverside South” development area, including negotiation of documents relating to the acquisition of title to the site, the client’s 90% equity investment in the limited partnership joint venture vehicle, bridge financing for the land acquisition and commencement of infrastructure, and the management of the development of the construction of a primarily residential condominium tower, and related infrastructure
• A pro bono client, The Lower East Side Girls Club, in connection with development, condominiumization and project financing (including New Market Tax Credits) for its new Center for Community facility in New York City
• A credit fund management firm with regard to its 90% equity investment in a limited liability company joint venture vehicle in connection with a redevelopment project for the construction of an eight story mixed use building in a Sacramento, California redevelopment area, including coordinating advice with regard to environmental issues affecting the site
• The ground lessee, building owner and master lessor of 11 MetroTech, a 216,000 square foot building in Brooklyn, New York leased to The City of New York in connection with a leasehold mortgage refinancing
• SFX Entertainment, Inc. in its joint venture redevelopment of The Point Depot, Dublin, Ireland in order to expand and rebuild existing arena and back-of-house facilities, including advice on a broad range of pre-construction and construction issues, and the disposition of adjoining land for redevelopment as The Point Village in accordance with covenants, conditions, restrictions and easements conceived and negotiated for the harmonious redevelopment and operations of a variety of uses within the development area
• The seller in a multi-state sale of triple net leased industrial properties
• A New York City developer with regard to site assemblage acquisition transactions relating to a large scale project in Brooklyn, New York
• The owner of a New Jersey shopping center in connection with a refinancing and complicated reciprocal easement agreement put into effect upon a subdivision of the shopping center
• The nation’s largest loan servicer in connection with a broad range of issues relating to large loan and CMBS servicing

• Member, New York Bar Association
• Member, The Association of the Bar of the City of New York
• Member, American Bar Association: Real Property, Probate and Trusts Law Section
• Member, American Bar Association: Construction Law Forum
• Member, International Council of Shopping Centers
• Member, International Association of Attorneys and Executives in Corporate Real Estate
• Empire State Counsel® for 2008, 2010 and 2012