Public Finance Law Real Estate Law
Lydia C. Stefanowicz
Recognized in Best Lawyers since 2016 Awarded Practice Areas
Biography
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 has represented 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 includes 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 a variety of 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.
Overview
- Polish
- Russian
- University of Virginia, J.D., graduated 1979
- New York University, BA, graduated 1976
- New Jersey, NJ - 1982
- New York, NY - 1980
- American College of Mortgage Attorneys (ACMA) - Member
- Polish
- Russian
- New Jersey, NJ - 1982
- New York, NY - 1980
- American College of Mortgage Attorneys (ACMA) - Member
- University of Virginia, J.D., graduated 1979
- New York University, BA, graduated 1976
Client Testimonials
Awards & Focus
Named "Lawyer of the Year" by Best Lawyers® for:
- Public Finance Law, Newark (2023)
- Public Finance Law, Newark (2020)
Recognized in The Best Lawyers in America® 2026 for work in:
- Public Finance Law
- Real Estate Law
Special Focus:
- COVID-19
Awards:
- Recipient of the NAIOP NJ Chapter President’s Award (2008)
- Selected for inclusion in Who’s Who Legal – Real Estate (a publication of Law Business Research Ltd.) (2017)
News & Media
Case History
Transactions
- $124.5 million non-recourse CMBS mortgage loan
Represented an affiliate of Mack-Cali Realty Corp., as borrower, in the negotiation, structuring, documentation and closing of a $124.5 million non-recourse CMBS mortgage loan, to finance a portion of the purchase price of a portfolio of Class A office buildings in Short Hills, New Jersey.
- Deed-in-lieu of foreclosure conveyances
Represented a private investment fund as property owner in the negotiation, structuring and documentation of deed-in-lieu of foreclosure conveyances of two separate suburban office properties to an affiliate of Third Point LLC, a distressed debt investor, as noteholder of two defaulted CMBS loans in the respective principal amounts of $60.7 million and $53.1 million.
- $55 million syndicated senior secured revolving credit facility
Represented Agent bank in a $55 million syndicated (club deal) senior secured revolving credit facility (including letters of credit) to a leading manufacturer and distributor of high-quality branded nuts, trail mixes & dried fruits.
- $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
- Portfolio of 5 Class A suburban office buildings
Represented the seller of a portfolio of 5 Class A suburban office buildings in Bergen County, New Jersey containing almost 1.1 million square feet to two separate buyers, in seller’s capacity as a purchase money mortgage lender for loans of $40,202,500 and $24,294,390, respectively
- 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 a major national 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
- $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
- $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
- 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
- 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
- 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 a commercial/industrial property in the Port Newark area; represented same developer in connection with acquisition financing of the property and ultimate sale 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
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