Press Release

Morrison & Foerster LLP Elects Two Real Estate Partners

5/3/1999

Morrison & Foerster LLP announced today that Mark S. Edelstein and John J. McCarthy, Jr. have joined the firm as partners in its Real Estate Group. Both attorneys, formerly with Milbank, Tweed, Hadley & McCloy, will be based in the New York office.

"This is a tremendous coup for us," said Fred Lodge, Managing Partner of Morrison & Foerster's New York office. "Our real estate practice in New York is quite robust, and the addition of Mark and John enhances our ability to represent clients involved in highly-sophisticated transactions. Mark and John worked closely as a team at Milbank, and Morrison & Foerster will benefit from a continuation of their collaboration. Their real estate finance practice is an exciting addition to our existing real estate practice and complements the firm's finance, energy, and bankruptcy and workouts practices."

Mr. Edelstein said, "Real estate transactions have become increasingly complex over recent years, making a multi-disciplinary approach critical. Morrison & Foerster's broad-based capabilities, especially in financing and securitization, provide an excellent platform for John and me to grow and diversify our real estate finance practices."

Mr. Edelstein's practice covers real estate finance, corporate finance related to real estate and bankruptcy and work-outs for large commercial and residential real estate projects. His practice focuses on real estate finance where he represents a variety of institutional lenders in a broad spectrum of real estate and real estate related matters, including complex syndicated and participated loan arrangements. He has successfully represented lenders and owners in numerous high-profile real estate restructurings, as well as in single asset workouts of office buildings, hotels, shopping centers and condominium developments.

Mr. Edelstein is an author of numerous articles and a frequent lecturer on topics involving real estate finance matters. He received his JD degree, magna cum laude, from Benjamin Cardozo School of Law in 1982. He joined Milbank Tweed Hadley & McCloy in 1982, becoming a partner in that firm in 1992.

Mr. McCarthy handles all aspects of commercial real estate transactions for a wide variety of clients, including financing, sales and acquisitions, leasing, development, loan restructurings, construction agreements and partnership and limited liability company matters. He has extensive experience in financing transactions, including construction lending, REIT loans, investment fund loans, sale leaseback transactions, industrial development bond transactions, multi-state loans, commercial mortgage-backed securitization matters involving performing and non-performing loans and the establishment of commercial loan conduits and the preparation of standardized loan documentation for all aspects of such programs.

Mr. McCarthy received his JD degree from Fordham Law School in 1970. He joined Milbank, Tweed, Hadley & McCloy in 1987 as of counsel. Prior to joining Milbank, Mr. McCarthy was senior real estate counsel at CBS Inc. where he was responsible for approximately 700 properties worldwide and handled all commercial real estate matters for the corporation.

 

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