Elizabeth Martialay is a consultant in the Real Estate practice. She represents clients including domestic and international financial institutions, real estate developers and corporate entities in a variety of sophisticated domestic and international transactions from inception to closing. Her real estate experience includes secured and unsecured real estate financing, borrowing base credit agreements, mortgage and mezzanine loans. She has represented debtors with respect to real estate matters in connection with the preparation for bankruptcy filings, ongoing bankruptcy matters and unwinding transactions. In addition to real estate matters, Ms. Martialay also has a broad-based domestic and cross-border general corporate transactional background, including experience in the areas of bank finance, acquisition finance, restructurings, structured finance and securitizations, mergers and acquisitions, project finance and privatizations and receivables programs.
- Metropolitan Life Insurance Company, as lender, in providing a $314 million mortgage loan to affiliates of Advance Real Estate and Public Sector Pension Investment Board to finance the operation and maintenance of 44 Class A industrial, logistics and warehouse buildings located in Mexico.
- Metropolitan Life Insurance Company, as lender, in providing a $130 million loan to affiliates of Kerzner International Limited to finance the operation and maintenance of the One & Only Palmilla Hotel located in Los Cabos, Mexico.
- Represented Citibank, N.A., as administrative agent in connection with modifications to Hersha Hospitality Trust’s senior credit facilities to permit the company to access an additional $100 million of loans and mitigate the impact of COVID-19 on the hotel REIT’s operations.
- Represented Citibank, N.A., ING Capital LLC and Natixis, New York Branch, as arrangers, in connection with a $775 million term loan and revolving credit facility for the financing of the acquisition by Digital Realty Trust of Ascenty Data Centers, a data center company located in Brazil and working capital needs of the target.
- Represented Sumitomo Mitsui Banking Corporation, as agent, in connection with a $300 million Yen equivalent revolving credit facility for certain Japanese subsidiaries of Digital Realty Trust, L.P.
- Represented Citibank, N.A., as administrative agent, in connection with the 2018 refinancing of Digital Realty Trust, L.P.’s global facilities, including (a) a $2.3 billion equivalent senior unsecured revolving credit facility, (b) an up to $1.1 billion equivalent senior unsecured term loan and (c) a $300 million senior unsecured term loan.
- Represented Citibank, N.A., as administrative agent, in connection with the refinancing and increase of Easterly Governmental Properties LP’s $450 million revolving credit facility and addition of a $150 million term loan.
- Represented AllianceBernstein, as lender, in providing a $45 million loan to an affiliate of Kor Real Estate Partners, LLC for refinancing and working capital relating to a hotel located in San Francisco subject to a master tenant structure. Negotiations included an intercreditor agreement with EB5 and other existing lenders.
- Represented Banco Nacional de México, S.A. (Banamex), as arranger, in a $350 million senior unsecured term loan for FIBRA Terrafina.
- Represented Royal Bank of Canada, as administrative agent, in connection with a $200 million senior unsecured term loan for the operating partnership of CoreSite Realty, a publicly traded real estate investment trust that provides data centers and interconnection solutions across the United States.
- Represented KeyBank National Association, as Administrative Agent, in providing a $100 million senior unsecured term loan and a $300 million senior unsecured revolving credit facility to Independence Realty Operating Partnership, LP.
- Represented Citibank, N.A., as administrative agent, in connection with a $750 million revolving credit facility for Industrial Logistics Properties Trust.
- Represented AllianceBernstein, as lender, in providing a $38.5 million loan to a joint venture of The Goldman Sachs Group, Inc. and Kor Real Estate Partners, LLC to finance the acquisition of and renovation work relating to a hotel located in Los Angeles, California.
- Represented Citibank, N.A. as administrative agent and joint lead arranger in connection with $1.4 billion in senior unsecured bridge financing commitments and $104 million in secured financing commitments for Digital Realty Trust, L.P.’s pending acquisition of DuPont Fabros Technology, Inc.
- Represented Citibank, N.A., as Administrative Agent, in providing a $100 million senior secured revolving credit facility to Five Star Quality Care, Inc. The facility is initially secured by 10 senior living communities.