Sheppard Mullin represented M&T Bank (NYSE: MTB) as lender in the origination of a $56 million mortgage loan to HUBB NYC Properties, an active and growing commercial real estate owner and developer in New York.
The loan is secured by a blanket mortgage spread across a diverse retail portfolio comprising 10 properties located throughout Manhattan. The loan signifies yet another step in the revitalization and recovery of retail in many Manhattan commercial corridors. It also demonstrates M&T commitment to this asset class and to its long-standing sponsors of note.
The Sheppard Mullin deal team included partners Richard S. Fries and Neil S. Cohen and special counsel Darby K. Brown.