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Experience

Ben Herd has represented CMBS lenders in hundreds of loan origination transactions, as well as whole loan sales, syndications, and “b-note” purchases/sales. He also represents special servicers in relation to defaulted or troubled loan workouts, maturity default resolution, collateral foreclosure, lease negotiation, and the sale of REO property. In addition, Ben also assists national and regional banks in complex commercial loan transactions, including ground leases, tenants-in-common, and acquisition and multi-tranche construction financing.

Ben’s practice also includes providing advice and counsel to developers of large commercial projects including Class A multifamily complexes, large retail shopping centers, and office towers. Additionally, he has extensive experience in advising borrowers in the defeasance of permanent debt facilities.

Representative Matters

  • Lead counsel to CMBS originators in permanent mortgage loans exceeding $4.5 billion
  • Represented NYC landlord in a $74 million CMBS refinancing of office building in New York
  • Represented a publicly traded REIT in the $165 million CMBS financing of 90-property retail portfolio
  • Represented national developer in the purchase of a trophy mixed-use development in Newport, Kentucky
  • Represented a publicly traded REIT in the simultaneous defeasance of $169 million in CMBS loans secured by 58 properties located in 19 U.S. states
  • Represented a special servicer in the negotiation and closing of a $261 million CMBS securitization
  • Represented a national developer in the development, multi-tranche financing and ultimate sale of a trophy mixed-use development in Alpharetta, Georgia
  • Represented a national developer in the development of a $114 million mixed-use/student housing development in Florida and the negotiation of a $46.7 million construction loan
  • Represented a mortgage loan originator in its securitization of collateralized loan obligations with face value of $260 million
  • Represented an international hospitality chain in defeasance of 80 properties to reverse sale-leaseback transactions in conjunction with the disposition of a 700-property hotel portfolio
  • Represented a securitized business trust (REMIC) (through its special servicer) in a commercial real estate loan workout involving a $44.5 million loan secured by a skyscraper in downtown Cincinnati
  • Represented ownership of a minor league baseball club in the sale of the team, including attendance-based incentive payments and coordination and approval of Major League Baseball
  • Represented a securitized business trust (REMIC) (through its special servicer) in a commercial real estate loan workout involving a $82.5 million loan secured by a skyscraper in downtown Phoenix
  • Represented a mortgage loan originator in its securitization of collateralized loan obligations with face value of $125 million
  • Represented a commercial real estate investment firm in its refinancing of an historic Texas shopping center involving preferred equity and $17.3 million in senior and mezzanine CMBS debt
  • Represented a national Class A multifamily developer in the acquisition and development of a 395-unit apartment complex in Texas and the negotiation of a $30 million senior construction loan and a $10 million mezzanine loan
  • Represented a commercial real estate investment firm in its acquisition of a shopping center, including preferred equity and a $41.75 million CMBS loan
  • Represented a commercial real estate investment firm in its acquisition of an iconic Northern California shopping venue, including preferred equity and a $67.2 million CMBS loan
  • Represented a national Class A multifamily developer in the acquisition and development of a 348-unit apartment complex in Texas and the negotiation of a $26.5 million construction loan

Prior Employment

  • Vice President, Bank Acquisition, Regulatory Compliance, and Special Projects, Beal Service Corporation, Beal Bank, 2010-2011
  • Vice President, Primary and Secondary Markets, CSG Investments, Beal Bank, 2009-2010

Honors & Affiliations

Distinctions/Honors

  • Chambers USA by Chambers and Partners (Real Estate), 2019
  • The Best Lawyers in America© by Woodward/White Inc. (Securitization and Structured Finance Law), 2019-2020
  • Irish Legal 100 by Irish Voice, 2016-2018
  • Texas Super Lawyers® by Thomson Reuters (Real Estate), 2013-2019
  • Best Lawyers in Dallas (Real Estate), D Magazine, 2015
  • “Recommended Attorney,” The Legal 500 US by Legalease (Real Estate and Construction: Construction; Real Estate and Construction: Real Estate), 2015

Memberships/Affiliations

  • Member, State Bar of Texas
  • Member, Texas State Bar College
  • Member, Commercial Real Estate Finance Council (f/k/a Commercial Mortgage Securities Association); Young Professionals Executive Committee
  • Member, Dallas Bar Association; Chair, Real Property Section, 2016; Vice Chair, 2015; Secretary, 2014; Treasurer, 2013
  • Member, Mortgage Bankers Association
  • Board Member, West Dallas Community School
  • Committee Member, Park Cities Quail

Education & Admissions

Education

  • J.D., 2000, SMU Dedman School of Law
  • B.A., 1996, St. Mary's University

Admissions

  • Texas