Steven G. Horowitz is a partner based in the New York office.
Mr. Horowitz's practice concentrates on U.S. and international real estate finance and investment transactions, including joint ventures, mortgage finance, securitization and capital markets, restructuring and real estate-related mergers and acquisitions. He frequently represents commercial and investment banks, foreign and domestic institutional investors, property owners and a wide variety of corporations in their real estate matters.
Mr. Horowitz has extensive experience in financing, acquisition and disposition of significant properties throughout the United States, Asia, Latin America and Europe. Transaction types encompass all forms of joint ventures, mortgage securitization, loan syndication, mortgage loan trading and subordinate debt, such as mezzanine loan and preferred equity funding.
In addition, Mr. Horowitz focuses on credit tenant and portfolio leasing, workout and bankruptcy matters, investment entity formation and tax-oriented finance transactions, and investments in non-traditional property types such as resorts and hotels, Indian gaming casinos, mines, timber, utilities, sports fitness clubs, hospitals and nursing homes.
Mr. Horowitz has represented:
- TPG Capital in the $1.7 billion acquisition of Savers in a recapitalization transaction and in the acquisition of a $505 million portfolio of U.S. retail and mixed-use assets from ProLogis;
- Istithmar in numerous acquisitions, dispositions, joint ventures and financings for office, hotel and resort properties in the U.S. and Dubai (including ENSeC’s financing of The Palm Jumeirah in Dubai, a joint venture investment with The Related Companies to develop the Grand Avenue mixed-use project in Los Angeles, the real estate aspects of its acquisition of the Barney’s New York and Loehmann’s retail chains, and the purchase and sale of major office buildings and hotels in Manhattan and elsewhere);
- Texas Pacific Group in formation of various real estate joint ventures and in the real estate aspects of its acquisition of numerous companies, including the Neiman Marcus Group;
- Meraas Capital in its joint venture acquisition of the landmark GM Building and three other New York office buildings;
- Nortel Networks in connection with real estate aspects of its Chapter 11 bankruptcy proceeding;
- The Endurance International Group, a portfolio company of Warburg Pincus engaged in the web hosting and domain registration business, in the real estate aspects of its acquisition of the websites business of Intuit;
- The Irvine Company in various joint venture office and apartment acquisitions, including a portfolio as part of the Archstone going-private transaction;
- Citigroup as underwriter of two lease-backed pass-through trust mortgage certificate offerings, each in connection with rated acquisition financing, one for several Citicorp subsidiaries, and a second for 127 properties leased to Sovereign Bank;
- The major equity investor in a joint venture acquisition of the MetLife Building in New York City;
- McDonald’s in a lease-backed financing of 900 restaurants and a joint venture to develop a flagship restaurant in Times Square, New York;
- Goldman Sachs Mortgage Company in acquiring and disposing of numerous mortgage loan portfolios, including non-performing loans and servicing rights in the U.S. and abroad;
- The Genting Group in its successful submission and implementation of a bid to the New York State Division of Lottery for the development of a world class entertainment destination at the Aqueduct Racetrack in Jamaica, Queens, financing the development of Indian gaming casinos at Foxwoods and Niagara Falls, and proposed casino and resort ventures in California, Massachusetts and Bimini;
- Kien Huat Realty, an affiliate of Genting, as lender in the restructuring of $2.3 billion in debt obligations secured by the Foxwoods Resort Casino, concluding a four-year restructuring that involved five different financings of varying seniority;
- McDermott International, a diversified public company, in converting surplus manufacturing property to a proposed riverboat casino operation;
- JP Morgan Fleming in acquisition financing of health clubs throughout the U.S. by a joint venture comprised of pension funds and taxable investors;
- Deutsche Bank in a joint venture with a publicly traded real estate fund to acquire a portfolio of triple-net leased movie theatres;
- HSBC’s letter of credit-backed acquisition financing for development of gold mines in Nevada and California;
- Kindred Healthcare, a national hospital and nursing center operator, both during and after its bankruptcy reorganization in master lease negotiations and senior and subordinate syndicated leasehold mortgage loans involving approximately 300 facilities in 36 states, and in subsequent financings, acquisitions and disposition of various hospital and nursing center operations throughout the U.S.;
- The U.K.-based Electricity Supply Pension Scheme in the tax-advantaged financing and disposition of L‘Enfant Plaza, a mixed-use project in Washington, D.C.;
- Stora Enso Oyj in the leveraged sale of its North American paper mill and timber portfolio;
- Suntory Water Company in acquisition of various U.S. water bottling facilities and water rights;
- FOBAPROA (a Mexican government bank reorganization agency) and seventeen Mexican banks, including Banamex, in connection with Grupo Sidek’s restructuring plan and sale of all its assets, including the hotel, resort and development portfolio;
- Roundabout Theatre Company in acquisition and financing of the Studio 54 theatre and cabaret facility;
- The Legal Aid Society in development and tax-exempt bond financing of a community facility in Harlem.
Mr. Horowitz is internationally distinguished as one of the best real estate lawyers by Chambers USA
, Expert Guides' The Best of the Best USA
and Guide to the World's Leading Real Estate Lawyers
, PLC Which Lawyer? Yearbook
, PLC Cross-border Corporate Real Estate Handbook
, The Legal 500 U.S.
, The International Who's Who of Business Lawyers
, The International Who's Who of Real Estate Lawyers
and New York Super Lawyers
magazine, and he was recently named an "MVP" in Real Estate by Law360.
In addition, The Best Lawyers in America
includes Mr. Horowitz in its 2014 edition, making him one of a small group to receive this honor for 10 consecutive years. Mr. Horowitz has served since 2003 as Lecturer in Law at Columbia Law School, where he teaches real estate finance. He frequently presents at seminars on real estate-related topics, including those sponsored by the American College of Real Estate Lawyers, American Bar Association-American Law Institute, Practising Law Institute, Anglo-American Real Property Institute and the New York City Bar Association. He also regularly publishes articles, including most recently "Roommates" in The Deal Magazine
(March 5, 2010) and "The Joint Venture as an Alternative Source of Capital" in the New York Law Journal
(January 12, 2009).
Mr. Horowitz joined the firm in 1987 and became a partner in 1989. Previously he was a partner at Hill & Barlow in Boston, Massachusetts, specializing in real estate development and finance, land use and environmental law. He joined Hill & Barlow in 1981, became a partner in 1985 and Chairman of the Real Estate Department in 1986. Mr. Horowitz has also served as United States District Court Monitor, and as a law clerk, to the Honorable Joseph L. Tauro, both for the United States District Court, Boston, Massachusetts.
Mr. Horowitz received J.D. and M.P.P. degrees, cum laude
, from Harvard Law School and the Kennedy School of Government at Harvard, where he was an editor of the Harvard Law Review
. He received an undergraduate degree from Yale University, magna cum laude
. He is a member of the Bars in New York and Massachusetts, Chair of the New York Advisory Board of the Trust for Public Land, a member of the American College of Real Estate Lawyers, a past governor of the Anglo-American Real Property Institute, a past Chair of the Executive Committee of the Real Property Law Section of the New York State Bar Association, a member of the Board of Advisors of the Legal Aid Society, and a member of the Chicago Title Insurance Company, NYC Advisory Board.