Cadwalader is advising the sellers in the sale of three prime retail properties on New York’s Madison Avenue, a transaction reported in The Wall Street Journal. The transaction involves the $45 million purchase by Swiss luxury clothing retailer Akris of three properties that are located between East 69th and 70th Streets, and include three ground-floor retail spaces and a combined 15 residences on the floors above. The closing is expected to occur in the fourth quarter. The Cadwalader team includes senior counsel Fred Altschuler, partner Steven Herman and associate Michael Anglin.

Other recent transactions include:

• Representation of administrative agent and lender in an aggregate mortgage and mezzanine financing of up to $171 million secured by 529 Fifth Avenue.
• Representation of lender in connection with the origination of a revolving credit facility in the initial principal amount of up to $250,000,000, subject to increase up to $500,000,000, to finance multifamily properties and utilizing a SOFR index.
• Representation of the lenders on a $165 million CMBS loan to refinance Silverstein Properties’ office building at 120 Wall Street in Manhattan, as reported in The Commercial Observer.