Mayer Brown has hired David Stewart as a partner in its real estate practice. The new hire was formerly a partner with Latham & Watkins in New York.
Stewart focuses his practice on real estate finance matters, specifically secured lending and loans in the secondary market, including the purchase of CMBS B-pieces.
He has considerable experience representing lenders, such as banks, finance companies and borrowers, in various property finance deals.
This comprises the following: the origination of mortgage and mezzanine loans; the purchase and sale of the lender’s interest in these loans; the division of debt stacks into senior/subordinate structures; the real estate and collateral aspects of CMBS offerings; real estate loan restructurings and property-based joint ventures.
He also does master repurchase agreements and other structures that allow mortgage finance companies to raise their source capital.
“David has a wide range of experience in representing clients in subordinate real estate lending and structured finance transactions, primarily in and around the commercial mortgage-backed securities (CMBS) market,” said Robert Koen, leader of Mayer Brown’s New York real estate practice. “David is an important hire for our Real Estate and Banking & Finance practices. His 20 years of experience, combined with our existing talent base, will enhance our ability to serve client needs in the mezzanine lending space as well as in complex CMBS structured transactions.”
“Mayer Brown’s strength in representing a wide range of real estate investors and lenders, as well as its commitment to developing its property finance practice, will provide a great platform for me to benefit current and future clients,” Stewart said.