Dominic J. De Simone

Real Estate, Distressed Real Estate, P3/Infrastructure, Real Estate Development, Real Estate Finance, Real Estate Leasing, Real Estate Tax, REITs, Transactional Finance

Dominic J. De Simone is a partner in the Real Estate Department and co-partner-in-charge of the Distressed Real Estate Initiative. He practices general real estate law, with a focus on real estate finance and distressed real estate transactions on behalf of lenders, special servicers, investors, and borrowers. Mr. De Simone has extensive experience in loan and project structuring, restructuring, and workout and enforcement matters involving such varied project types as retail, multifamily, assisted-living facilities, office, gaming, and mixed-use developments. He has advised on a variety of financing structures, including acquisition, construction, syndicated, leasehold mortgage, securitized and mezzanine loan transactions, sale-leaseback transactions, and bond financing transactions.

Mr. De Simone also has experience in real estate acquisition and sale and development transactions, as well as retail, office, and warehouse leasing transactions on behalf of both landlords and tenants, including retail tenant representation. He is experienced in build-to-suit, retail condominium, REIT-related, and military housing transactions.

Before joining the firm, Mr. De Simone was an assistant vice president in the Real Estate Banking Division of PNC Bank, where he was responsible for the origination, underwriting, closing, restructuring, and administration of various commercial real estate financing transactions.

Representative Matters

• Representation of a national special servicer in the workout of a $130 million first mortgage loan on a 1,000-plus-unit residential rental project, including consideration of such alternatives as an A/B note structure and a deed-in-lieu of foreclosure
• Representation of one of the largest commercial loan special servicers with respect to a foreclosure and receiver action involving an assisted-living facility in Lehigh County, Pennsylvania, and the ultimate disposition of the facility by the receiver
• Representation of one of the largest commercial loan special servicers in the workout and foreclosure of a retail project in eastern Pennsylvania; included the structured termination of a major lease in connection with the tenant's liquidation outside of bankruptcy, the appointment of a receiver, the successful completion of a mortgage foreclosure action, and the releasing of a former Circuit City store
• Representation of a Utah industrial bank in a deed-in-lieu transaction for a student housing project in the University City section of Philadelphia; included negotiating a license for the continued use of the project name and Web site, as well as structuring the title-taking entity so as to minimize transfer taxes
• Representation of a super-regional bank in the workout of a multiloan relationship with a regional single-family homebuilder, including the representation of the bank in connection with the bankruptcy of one of the borrowing entities and a structured sale of residential building lots to another homebuilder
• Representation of a super-regional bank in connection with a proposed deed-in-lieu of foreclosure for a single-family residential development parcel
• Representation of a private mezzanine loan equity fund in the purchase and/or restructuring of various mezzanine loans secured by 100 percent of the ownership interests in various entities owning and operating hotels and retail shopping centers; involved reviewing and negotiating underlying senior and mezzanine loan documents and intercreditor agreements and reviewing relating diligence materials, as well as structuring equity participations
• Representation a special servicer in connection with the workout and enforcement of a $500 million senior secured loan secured by three casinos located in New Jersey and Mississippi; the loan is structured as a multitranche loan participation with only the most senior tranche securitized

Professional Activities

American Bar Association

New Jersey State Bar Association

Pennsylvania Bar Association

Philadelphia Bar Association, Real Property Section, Financing and Securitization of Real Estate Committee, Co-chair

Drexel University, Krall Center for Corporate and Executive Education Advisory Council

The Reinvestment Fund, Inc. (a Philadelphia-based, nonprofit organization promoting socially responsible development), Housing/Commercial Real Estate Committee

Recognition & Accomplishments

Chambers USA: America's Leading Lawyers for Business, real estate, 2010

Speaking Engagements

"Lender/Borrower Workout Issues," The Bankers Forum on Distressed Properties & Real Estate Loan Workouts, Information Management Network, New York, April 20, 2010

Panelist, "Real Estate 2010," Delaware Valley Chapter of The Counselors of Real Estate, in conjunction with Temple University's Real Estate Institute, Villanova, Pennsylvania, April 19, 2010

"Asset Disposition & Acquisition/Selling & Buying Distressed Notes," Debt Workout, Transactions & Repositioning of Distressed Assets, ICSC, New York, March 24, 2010

"Distressed Lending Environment: Current Perspectives from the Legal Community, CMBS, and Balance Sheet Lenders," Lambda Alpha International – Philadelphia Chapter, Philadelphia, December 8, 2009

"Financing Commercial Real Estate Transactions: The New Rules of the Game," 13th Annual Real Estate Institute, Pennsylvania Bar Institute, Philadelphia, December 4, 2009

"Where's the Money?" 2009 Fall Meeting, American Bar Association Forum on the Construction Industry, Philadelphia, October 15, 2009

"The Special Servicer's Perspective Panel," Forum on Distressed Commercial Real Estate, Information Management Network, New York, October 5, 2009

"Loan Workouts/Restructuring,"  ICSC and National Association of Industrial and Office Properties, New York, September 24, 2009

Temple University James E. Beasley School of Law (J.D. 1995, magna cum laude)
Recipient, Arthur L. Berns Memorial Award in Real Estate Law; Recipient, Joseph W. Price III Memorial Award in Taxation Law

Drexel University (B.S. 1988, cum laude)

New Jersey

Pennsylvania