Real Estate Finance – Historic Preservation
Represented a developer client in the documentation and closing of a property through the use of historic preservation tax credits. The financing supported a project in which, after a nearly 20-year vacancy, a former factory was rehabilitated and converted into an assisted-living facility.
Structured Finance
Managed the documentation and closing of several ongoing revolving credit lines for an institutional lending client. More than 150 loan transactions were closed as part of the credit facilities.
Real Estate Finance – PACE Loan
Represented a lending client in the documentation, negotiation and closing of a commercial real estate loan, which included a special financing assessment through the local government-sponsored Property-Assessed Clean Energy (PACE) program.
Real Estate Finance – Mortgage-Backed Securities
Represented an international lender in simultaneously closing numerous commercial mortgage-backed securities loans covering 17 properties in multiple states and involving the advance of more than $250 million in loan proceeds.
Structured Finance; Real Estate Financing
Represented bank client in the documentation, negotiation and participation of the simultaneous closing of $40 million credit facility used by the borrower to finance accounts receivable and inventory in connection with its manufacturing business located in Tennessee, and a $6 million real estate facility used to acquire certain real property located in Tennessee.
Real Estate and Construction Finance – Multi-Purpose Commercial Space
Represented bank client in connection with its financing of a $100 million multi-purpose development located in downtown Lexington. The project included the construction of an underground parking garage, office building, residential suites and commercial space.
Real Estate Finance – Medical Office Building
Represented bank client in the documentation, negotiation and participation of a $48 million credit facility used by the borrower to finance the construction of a pediatric hospital owned and operated by an affiliate of the University of Louisville. SKO represented the bank in the subsequent semi-permanent financing for the credit facility, which was closed in April 2017, and is currently serving as both bank and bond counsel in connection with the conversion of the existing credit facility to a tax exempt facility.
Commercial & Industrial Lending
Represented bank client in the documentation, negotiation and participation $12 million cred facility used by borrowing group to finance accounts receivable and inventory in connection with its tobacco and convenience store operations.
Commercial & Industrial Lending
Currently represent bank in the documentation and negotiation of multiple credit facilities totaling more than $25 million to a dental holding company and its 150 related entities used by the borrowing group for general working capital purposes and acquisition needs.
Real Estate Finance – New Market Tax Credit Financing
Represented bank client in connection with financing to a national non-profit organization utilizing new market tax credits to finance the construction of an 80,000 square foot facility including a primary care health facility, youth and community outreach venues, health and wellness areas, and administrative offices in Evansville, Indiana.
Real Estate Finance – Hospitality
Represented bank client in the documentation, negotiation and participation of a $26 million credit facility used by the borrower to finance the improvement and construction of an AC Hotel by Marriott and 196 unit parking garage located in Louisville, Kentucky. SKO’s representation included negotiation and documentation of a multi-level intercreditor agreement among the subordinated lending group, one of which provided financing under the EB-5 investment program.
Real Estate Finance – Entertainment
Represented bank client in the documentation and negotiation of two credit facilities totaling $20 million used by the borrowing group to finance the acquisition, improvement and construction of movie theater complexes located in Texas.
Real Estate Finance – Multi-Family
Represented bank client in the documentation and negotiation of a $26 million credit facility used by the borrower to finance the acquisition, improvement and construction of a multi-unit apartment complex located in Jeffersonville, Indiana.
Floor Plan and Real Estate Finance – Automobile Dealerships
Represented bank client in the documentation and negotiation of a $70 million floor plan credit and related real estate facilities used to finance the borrowing group’s automobile dealerships located in Pennsylvania.
Syndication
Represented administrative agent and lead bank in the documentation and negotiation of syndicated credit facilities totaling $57 million used by the borrowing group for overall corporate restructure, the acquisition and improvement of two river cruise ships to add to their existing fleet, the refinance of outstanding debt and for general working capital purposes.
Emerging Business and Venture Capital
Currently represent a fund which makes convertible debt and preferred equity investments in early-stage Kentucky business entities to facilitate the commercialization of innovative ideas and technologies.
Hotel Sale and Defeasance
Represented five hotel property owners in the simultaneous sale of hotel assets and real estate in multiple states. As counsel to the hotel property, SKO negotiated and documented complex sales documents, served as title agent for certain hotel properties, closed two separate defeasance transactions prior to the closing of the asset sale, and ensured a smooth transition of the management of assets from the former owners to the purchasing entities.
Emerging Business and Venture Capital
Currently represent a fund which makes convertible debt and preferred equity investments in early-stage Kentucky business entities to facilitate the commercialization of innovative ideas and technologies.
Venture Capital – Technology and Life Science
Currently represent a fund making seed round and early stage investments in companies dedicated to science and technology innovation. The corporation focuses on developing and managing creative initiatives in education, economic competitiveness and scientific research.
Economic Incentives
Currently represent state economic development cabinet in the documentation and negotiation of tax incentives under the Kentucky Business Investment Program, the Kentucky Reinvestment Act and the Kentucky Jobs Development Act programs designed to assist companies in establishing or expanding operations in Kentucky.
Economic Incentives
Currently represent state economic development cabinet in the documentation and negotiation of incentives under the Kentucky Small Business Credit Initiative ,a state-sponsored program designed to generate jobs and increase the availability of credit to small businesses by reducing the risk assumed by participating lenders in Kentucky.
Dealer Floor Plan Financing
Represented bank in the documentation and negotiation of $46 million floor plan credit and a construction draw facility used to finance borrowing group’s automobile dealerships in Tennessee and Missouri.
Structured Finance
Currently represent bank in the documentation, negotiation, and administration of multiple revolving credit facilities totaling more than $11 million to a mortgage lender, each of which is secured by the collateral assignment of promissory notes, mortgages and assignments of rents and leases on residential and commercial properties in Kentucky, Indiana, Ohio, Virginia, West Virginia and Florida.
Commercial Real Estate Lending – Special Assets
Represented bank in the documentation and negotiation of forbearance and workout terms for multiple credit facilities totaling $18 million used by the borrower to finance commercial real estate properties in Florida, Indiana, Kentucky and Alabama.
Commercial Real Estate Lending
Represented bank in the documentation and negotiation of multiple credit facilities totaling $25 million used by real estate holding company to refinance outstanding indebtedness and for general working capital purposes related to warehouse facilities in Louisville, Kentucky.
Commercial Real Estate Lending
Represented bank in the documentation and negotiation of a $4.5 million secured credit facility used by a real estate holding company to acquire a shopping center in Washington County, Indiana. Our representation included the negotiation of estoppel certificates and subordination and non-disturbance agreements on behalf of the bank with multiple national retailers.
Commercial Real Estate Lending – Construction Financing
Represented bank in the documentation, negotiation and participation of a $16 million credit facility used by the borrower to finance the acquisition, improvement and construction of a multi-unit apartment complex in Shelby County, Kentucky.
Commercial Real Estate and Acquisition Lending
Represented bank in financing the acquisition and improvement of three real estate properties located in Southern Indiana by related obligor groups. The closings were documented, negotiated and closed simultaneously in careful coordination with multiple sellers and their respective counsel, existing lessees and real estate brokers.
Commercial Real Estate Lending – Construction Financing and Multi-bank Participation
Represented bank in the documentation, negotiation and participation of a $48 million credit facility used by the borrower to finance construction of a pediatric hospital owned and operated by an affiliate of the University of Louisville.
Commercial & Industrial Lending
Represented bank in the simultaneous closing of multiple credit facilities totaling approximately $18 million used by various obligor groups – a sheet metal company and related entities – to refinance outstanding indebtedness and for general working capital purposes.
Commercial & Industrial Lending
Currently represent bank in the documentation and negotiation of multiple credit facilities totaling more than $18 million to a dental holding company and its 150 related entities used by the borrowing group for general working capital purposes and acquisition needs.
Commercial & Industrial Lending – Syndication
Represented Administrative Agent and Lead Bank in the documentation and negotiation of syndicated credit facilities totaling $45 million used by the borrowing group for overall corporate restructure, the acquisition and improvement of two river cruise ships to add to their existing fleet, the refinance of outstanding debt and for general working capital purposes.
Asset Based Lending
Represented bank in the simultaneous closing of four credit facilities totaling $29 million used by the borrowing group – a national steel company in Ohio and related entities – to refinance outstanding indebtedness, construct a warehouse facility and for general working capital purposes.
Commercial Real Estate Lending
Represented a Bank client in connection with credit facilities totaling $18 million to borrowing group to finance the construction of two multi-family apartment complexes.
Reorganization, Refinancing and Acquisition of Major Healthcare Entity
Stoll Keenon Ogden represented a major healthcare services entity, its affiliated upstream and sister companies, its owners and its founding management team in comprehensive reorganization, refinancing and acquisition transactions totaling more than $300 million. The matters resulted in the closing of a senior secured term loan and revolving credit facilities secured by owned senior care facilities in four states with a 9-member syndicate of commercial banks; the requisition of waivers, consents and estoppels from various property lessors on leased senior care facilities in four states; restructuring of upstream holding companies and combination of two upstream ownership groups and boards of managers; the creation of a management company; the introduction of healthcare facility management agreements; the migration of payroll and benefits for more than 7,000 employees; the related restructuring of multiple lease and debt financing and supplier relationships; the creation and reorganization of multiple SPE organizations accompanied by extensive non-consolidation analysis and issuance of a substantive non-consolidation opinion to the lending syndicate; the exercise of purchase option and acquisition of multiple senior care facilities; the contribution of additional equity capital from the client’s majority owners; and the amendment and restructuring of multiple Master Lease and inter-creditor agreements.
Equine Financing
Represented bank client in the documentation and negotiation of multiple secured credit facilities in excess of $20 million used to finance the obligors’ equine operations throughout the United States.
Commercial Real Estate Lending
Represented a U.S. multinational bank in a $25 million series of commercial real estate loans to a conglomerate operator of nursing homes in the Midwest.
Coal Investment & Financing Transaction
Represented a publicly-traded client in a transaction to support the development of a longwall mining operation with a total investment in the project in a range of $400 – $525 million. Transaction featured several components, including a preferred equity investment, the acquisition and leaseback of reserves and surface rights, a coal handling and services agreement and an equipment financing facility.
Holding Company Loan and Preferred Stock Financing for Acquisition of Community Bank
Negotiated a loan and preferred stock financing by a larger financial institution for one-bank holding company to acquire a community bank. The preferred stock component involved negotiation with the Federal Reserve Board for approval of a possible change of control.
Formation of Bank Holding Company and Simultaneous Acquisition of Bank
Represented a group of private investors before the Federal Reserve Board to form a bank holding company to acquire a community bank. Negotiation and consummation of an agreement for the new holding company to acquire the community bank.
Venture Capital Investments
Represented a fund that makes convertible debt or preferred equity investments in numerous early-stage Kentucky business entities to facilitate the commercialization of innovative ideas and technologies.
Equity Offerings and Corporate Governance
Currently represent a software services company that provides a suite of management and IT solutions for financial institutions, designed to improve efficiency and compliance with federal regulations in connection with seed round and subsequent financings involving a large private equity funds.