Jay’s practice focuses on the financing of complex real estate transactions. Jay represents clients in complex commercial real estate finance and capital markets transactions, including multi-property and multistate acquisitions, construction loans, mezzanine financings, securitizations and refinancings. His practice involves office buildings, shopping centers, hotels, child care centers, adult assisted living complexes, multifamily apartment complexes, development land and other commercial properties located throughout the United States, focusing on lending, real estate finance, workouts and distressed asset transactions.

Bar Admissions

Education
JD, St. John’s University School of Law, Dean's List, Editor-in-Chief, New York Real Property Law Journal, 2005

BA, New York University, College of Arts and Sciences, 1995

• Representation of a national bank in connection with a $145 million mortgage and multiple mezzanine financing of a portfolio of nine hotels located in eight states; the transaction included a condominium, four ground leases and several franchisors
• Representation of a national bank in connection with a $19.2 million mortgage loan of a shopping center located in Texas
• Representation of a national bank in connection with a $28 million Sharia-compliant mortgage loan of nine office buildings located in Illinois with a master lease structure
• Representation of a national insurance company in connection with the extension and modification of a $298,500,000 portfolio of crossed mortgage loans secured by 18 industrial-office properties located in various states
• Representation of a national bank in connection with $51 million mortgage and mezzanine loan of offices in Texas
• Represented national insurance companies as co-lenders in connection with a $507 million refinancing involving a funded loan and future funding loan secured by 11 Times Square in New York City.
• Represented a national bank in connection with the origination of two pools of loans to a hotel portfolio and development company in the aggregate of $125 million consisting of two mortgage loans, two senior mezzanine loans and two junior mezzanine loans secured by 23 major franchised extended stay hotels located in Virginia, North Carolina, Florida, Texas and Tennessee.
• Represented a national bank in connection with simultaneous leasehold and fee mortgage loans in the aggregate amount of $47.5 million secured by a first-class hotel on Boston Harbor's Tudor Wharf, with a ground lease structure and special licensing features.
• Represented a national bank in connection with the financing of nine industrial properties located in Massachusetts, Ohio, North Carolina, Virginia, New York, and Pennsylvania. The mortgage loan was structured as a cross-collateralized loan in the aggregate amount of $90.4 million. An accommodation ground lease structure was used to save the borrower a hefty mortgage tax in Pennsylvania. The properties also included an ADA lease and a tenants-in-common structure. The transaction also involved an $18 million preferred equity investment, which required negotiation of intercreditor-type provisions with the preferred equity member.
• Represented a national bank in connection with a $15 million syndication to another lending institution in connection with a $187.5 million mortgage loan secured by an office park in Minnesota.
• Represented a global private equity firm in an amendment of a loan facility whereby an additional advance of over $10 million (secured by, among other things, the mortgage borrower's interest in an underlying mortgage loan) was added to an existing loan facility of $30 million secured by four mortgaged properties in Florida.
• Represented a national bank in connection with the financing of seven industrial properties located in Texas, Ohio, Michigan, Illinois and Pennsylvania. The mortgage loan was structured as a cross-collateralized loan in the aggregate amount of $93.9 million with a mezzanine loan for $16.1 million that included an accommodation pledge arrangement with related entities.
• Represented an international bank in connection with the origination of a $75 million loan secured by pledges of equity in the owners of seven retail centers located in Texas, Georgia, Kansas and Colorado.
• Represented a global private equity firm in connection with their acquisition of hundreds of millions of dollars of loans, and refinancing the same.
• Represented a national bank in connection with the origination of two separate mortgage loans to related borrowers in the amounts of $41 million and $60 million, each secured by an office building near Dallas, Texas.
• Represented a national bank in connection with a Shariah-compliant mortgage loan in the amount of $56 million secured by an office building located in Houston, Texas with a master lease structure.
• Represented a national bank in connection with the origination of an $18 million mortgage loan secured by an office building with a restaurant located in San Antonio, Texas.
• Represented a national bank in connection with the origination of an $11 million mortgage loan secured by a Marriott hotel located in Miami, Florida.
• Represented a national bank in connection with a Shariah compliant mortgage loan in the amount of $45.5 million secured by three office buildings located in Westminster, Colorado with multiple master leases and property releases.
• Represented a national bank in connection with a $9.5 million refinancing of a retail shopping center located in Houston, Texas.
• Represented a national bank in connection with a $10 million refinancing of an industrial office building located in Maryland.
• Represented a national bank in connection with a $6.7 million refinancing of a residential apartment complex located in Houston, Texas.
• Represented a national bank in connection with a Shariah compliant mortgage loan in the amount of $35.4 million secured by an office building located in Tysons Corner, Virginia.

• Member, Dallas Bar Association
• Member, Tarrant County Bar Association
• Member, The Texas Real Estate Commission
• Member, Real Property Section Committee on Real Estate Finance
• Member, Committee on Real Estate Workouts & Bankruptcy of the New York Bar Association