A team of attorneys of Cooley from its New York and Reston offices has acquired a distressed real estate loan worth $380 million from Banco Popular. The team, led by Thomas O’Connor, who heads the Real Estate group, has bought the loan for Cooley’s client the Caribbean Property Group, a real estate investor, developer and asset manager.
The team also included corporate partner Ben Pierson, tax partner Lesse Castleberry, special counsel Maureen Hannon and associates Peter Crain, Michael Estreicher, Erin Ramana and Michelle Schulman. The Caribbean Property Group bought the distressed loans in a partnership with several institutional investment partners.
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