Hunton & Williams LLP Represents Owner of 20 Exchange Place in $240M Construction Loan

June, 2014 - New York City, New York

Hunton & Williams LLP advised DTH Capital Inc. in connection with a $240 million construction loan with respect to 20 Exchange Place, the landmark Art Deco building built in 1931 as headquarters for firms that ultimately became Citigroup.

A number of the tower floors were previously converted to apartments following construction financing obtained in 2006. The proceeds of the loan will be used, in part, to convert the remaining floors to residential apartments, significantly upgrade the residential amenities and build out commercial space on the mezzanine and subcellar floors.

The Hunton & Williams legal team was led by Carl F. Schwartz, co-chair of the global real estate practice, and New York associate Matthew A. Scoville. Other team members were New York associates Jason Ryu and Kevin A. Wakefield.

The financing was provided by Natixis Real Estate Capital LLC. “We look forward to completing the conversion of 20 Exchange Place and we are pleased to have completed the financing with Natixis, expanding our relationship of real estate lenders,” commented Steve Galiotos, chief executive officer of DTH Capital.

DTH is also the majority owner of 63 Wall Street, 67 Wall Street and 70 Pine Street. “This loan represents another important step in recognizing the vision of Ronny Bruckner, the late founder of Eastbridge, who had the foresight to appreciate the potential for downtown as an upscale residential neighborhood,” said Schwartz.

DTH is owned by AG Insurance, a publically traded, Belgium based insurance company, and the Eastbridge Group, a European private investment company.

The AG Insurance affiliate was represented by a team led by Kevin O’Shea and Lisa Hin at Allen & Overy LLP.

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 equity, opportunity and hedge funds in all aspects of real estate investments.

About Hunton & Williams LLP
Hunton & Williams LLP provides legal services to corporations, financial institutions, governments and individuals, as well as to a broad array of other entities. Since our establishment more than a century ago, Hunton & Williams has grown to more than 800 lawyers serving clients in 100 countries from 19 offices around the world. Our practice has a strong industry focus on energy, financial services and life sciences, and our experience extends to practice areas including bankruptcy and creditors’ rights, commercial litigation, corporate transactions and securities law, intellectual property, international and government relations, real estate, regulatory law, products liability, and privacy and cybersecurity. For additional information visit our website at www.hunton.com. Follow us on Twitter, LinkedIn, and YouTube.

About DTH Capital Inc.
DTH is a leading real estate development and investment management firm with a successful track record repositioning landmark office buildings into luxury multi-family properties. DTH currently manages a $1.5 billion portfolio of apartment properties concentrated in New York City. The firm’s growth strategy is focused on applying its valuable experience, gained from completing complicated change of use conversions, to other asset classes and expanding its geographic market area. DTH is owned by AG Insurance, a publically traded, Belgium based insurance company, and the Eastbridge Group, a European private investment company.

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