Hunton & Williams Represents IDB Bank in $31.5M Mortgage Loan

NEW YORK — September 22, 2014 — Hunton & Williams LLP advised Israel Discount Bank of New York in connection with a $31.5 million mortgage loan to Berit Realty LLC, owner of SIXTY hotel 6 Columbus, located at 6 Columbus Circle (308 West 58th Street), New York City.

IDB Bank is the lead lender in the deal, together with co-lender affiliates of Clal Insurance Company Ltd., an Israeli pension fund advisor. The mortgage loan closed September 18, 2014.

“We are very pleased to have advised IDB in the inaugural loan under a new program, and its first with Clal. The program enables IDB to leverage its balance sheet to the advantage of its customers,” said Carl F. Schwartz, co-chair of the Hunton & Williams global real estate practice.

The Hunton & Williams legal team, led by Schwartz and partner Rori H. Malech, included counsel Jason O. Zeigler and associate GreerL. Watson.

The Hunton & Williams real estate practice group advises clients on matters involving the full spectrum of commercial, industrial, retail, multifamily, hospitality and mixed-use properties, as well as counseling global private.