Lydia Stefanowicz - Greenbaum, Rowe, Smith & Davis LLP

Lydia Stefanowicz

Listed in Best Lawyers since 2016
Phone: 732-476-3330

Ms. Stefanowicz concentrates her practice in the areas of commercial lending and real estate finance.  She provides counsel to both lenders and borrowers in real estate acquisition, construction, permanent mortgage (including CMBS) and mezzanine financings.  She has significant experience in real estate workouts and debt restructuring transactions, and represents real estate developers and investment funds in connection with the formation of joint ventures to acquire, develop, construct and manage properties.

Ms. Stefanowicz handles the structuring, negotiation and documentation of both secured and unsecured corporate and commercial loan transactions and other credit accommodations. Her work in this area encompasses revolving credit and term loan facilities, syndicated and participated credits, letters of credit and bankers’ acceptances, asset-based financings, liquidity facilities and tax-exempt financings.  She represents lenders in the negotiation and documentation of inter-creditor agreements.

Ms. Stefanowicz also has experience in general corporate, commercial and real estate matters. She has negotiated and drafted contracts in connection with a wide range of transactions including acquisitions and divestitures, limited liability company and partnership agreements, leases, easements, and management agreements. Ms. Stefanowicz also has extensive experience in negotiating and drafting third-party closing opinions, including as New Jersey or New York local counsel.

New York UniversityBA 1976University of Virginia School of LawJ.D. 1979
NAIOP NJ chapterNew Jersey State Bar AssociationAmerican College of Mortgage Attorneys

Case History

$222.5 Million Credit Facility — Represented Agent bank in a $222.5 million syndicated senior secured revolving credit facility (including letters of credit, bankers’ acceptances and swing line loans) to a multinational food importer and its affiliates
$44.7 Million Construction Loan — Represented property owner (joint venture between a developer and an affiliate of Fidelity Investments) in connection with a $44.7 million syndicated construction loan with Wells Fargo Bank as Agent, the proceeds of which were used to renovate and reposition a vacant suburban office building
Intercreditor Agreement — Represented an insurance company lender in connection with an intercreditor agreement with a junior construction lender and the modification of a $31 million original principal amount loan secured by a single tenant industrial property in South Brunswick, New Jersey
$41.5 Million Credit Facilities — Represented senior secured lender in connection with credit facilities aggregating $41.5 million, including a term loan to partially finance an acquisition of a steel mill and manufacturing facility, a revolving credit facility for working capital purposes, an equipment line of credit, and an acquisition facility to finance permitted acquisitions in the future, to an industry world leader in the design and manufacture of prefabricated modular steel bridges
Ten-Year Net Lease Negotiation — Represented the tenant, the U.S. affiliate of the manufacturer and distributor of Waterford crystal, Wedgewood china and other luxury tableware, in the negotiation of a ten-year net lease for a 278,000 square feet, single tenant industrial warehouse building in Monmouth County, New Jersey, to serve as its North American headquarters and distribution center
Restructure of $52 Million Aggregate Credit Facilities — Represented senior secured lender in connection with the restructure of aggregate credit facilities of almost $52 million to a human tissue bank, with a letter of credit sub-facility, an equipment line of credit and equipment term loans
$50 Million Loan

Represented senior secured lender in connection with a $50 million taxable fixed rate term loan to a regional multi-facility hospital and healthcare system, secured pursuant to the borrower’s master trust indenture

$32,267,000 Tax-Exempt Bond — Represented a bank purchaser of a $32,267,000 tax-exempt New Jersey Educational Facilities Authority Revenue Bond, Bloomfield College and Seminar Issue, 2013 Series A, the proceeds of which were used to finance, among things, the construction and equipping of a student residence hall on the campus of Bloomfield College
Joint Venture — Represented a property owner in the negotiation and documentation of a joint venture with GreenVest LLC, a strategic land use and environmental planning firm, to develop a wetland mitigation bank projected to  produce approximately $12.5 million of marketable wetland mitigation credits
$97 million Bond Conversion — Represented the liquidity provider under a standby bond purchase agreement with Meridian Hospitals Corporation in connection with the conversion of a $97 million tranche of New Jersey Health Care Facilities Financing Authority Revenue Bonds from auction rate to variable rate bonds
Non-exclusive Easement — Represented  the property owner in extensive negotiations and documentation of a perpetual, non-exclusive easement for underground electric transmission lines in favor of an affiliate of Competitive Power Ventures, Inc., with the objective of preserving the future development prospects of the property
Deed-in-lieu of Foreclosure — Represented a publicly-traded hospitality REIT in the negotiation, structuring and documentation of a deed-in-lieu of foreclosure conveyance of a hotel property to an affiliate of LNR Partners, as the special servicer of a defaulted $20 million CMBS loan
Commercial/Industrial Property Joint Venture — Represented New Jersey-based developer in the negotiation of the terms of a joint venture with an affiliate of BlackRock to acquire and develop commercial/industrial property in the Port Newark area; represented same developer in connection with acquisition financing of the property
Acqusition — Represented the purchaser in connection with the acquisition of 100%  of the equity of a produce and specialty foods distributor with revenues in excess of $30 million per year, which acquisition included a real estate component
$110 Million Revolving Credit Facility — Represented institutional real estate investment fund in connection with a $110 million revolving credit facility for investment property acquisitions and 14 separate mortgage loans pursuant to such facility
$50 Million Syndicated Secured Revolving Credit Facility — Represented Agent bank in a $50 million syndicated secured revolving credit facility (including letters of credit, alternative currencies, bankers’ acceptances and swing line loans) to a manufacturer/supplier of personalized business gifts and promotional items
$250 million non-recourse CMBS mortgage

Represented an affiliate of a publically-traded REIT, as borrower, in the negotiation, structuring, documentation and closing of a $250 million non-recourse CMBS mortgage loan, secured by a 1.25 million square feet office building in Jersey City, New Jersey

New York City Public Charter School

Represented  a New York City public charter school in connection with a construction dispute and debt restructure, including additional tax-exempt and taxable financing through Build NYC Resource Corporation

$100 Million Unsecured Revolving Line of Credit

Represented a major national bank in connection with a $100 million unsecured revolving line of credit (including a letter of credit subfacility) to a leading retailer of electronics

$27.4 Million Limited Recourse Permanent Mortgage Loan

Represented property owner, a Delaware limited partnership with multiple tiers of ownership, as borrower in connection with a $27.4 million limited recourse permanent mortgage loan to refinance the existing indebtedness on an Edison, New Jersey office property

$75 Million Revolving Line of Credit Facility

Represented Wells Fargo Bank as senior secured lender in connection with the structuring, negotiation, documentation and closing of a $75 million revolving line of credit facility to a multinational generic pharmaceuticals manufacturer and distributor and its affiliates, as borrowers, as well as an intercreditor agreement with a concurrent secured lender

Office Location

Metro Corporate Campus One
99 Wood Avenue South
Iselin, NJ 08830-2712
United States

Practice Areas

Public Finance Law
Real Estate Law

Other Information

Gender: Female