Simpson Thacher Represents Lead Arranger in Refinancing by iStar
07.03.18
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Simpson Thacher recently represented JPMorgan Chase Bank, N.A., as lead left bookrunner, arranger and administrative agent, in connection with the amendment, repricing and extension of iStar Inc.’s term loan facility. The size of the facility was increased to $650 million and the maturity extended to 2023. The term loan facility is secured by certain real estate assets of iStar.
iStar Inc. finances, invests in and develops real estate and real estate related projects as part of its fully integrated investment platform. The company has invested more than $35 billion over the past two decades and is structured as a real estate investment trust (“REIT”) with a diversified portfolio focused on larger assets located in major U.S. metropolitan markets. The company's four primary business segments are real estate finance, net lease, operating properties and land and development.
The Simpson Thacher team included Soogy Lee, Randi Lynn Veenstra and Ronnie Lim (Banking and Credit); Krista McManus and Dennis Loiacono (Real Estate); Jonathan Pall (Collateral); Brian Mendick (Tax); and Larry Moss (ECEB).