Featured Image For Chapman Served as US Counsel to an Israel-Based Trustee in Connection with the $506 Million Sale of New York Residential Apartment Buildings

Chapman served as US counsel to Mishmeret Trust Company Ltd., an Israel-based trustee, in connection with the restructuring of $250 million of bonds issued by All Year Holdings Ltd. and secured by one of two residential apartment buildings that comprise The Denizen, a 911-unit complex located on the site of the former Rheingold Brewery in the Bushwick neighborhood of Brooklyn, New York. The Denizen was sold for $506 million, reported as the largest single asset multifamily transaction in the US since 2018, in a bankruptcy court approved sale. Chapman’s team was led by Michael Friedman, supported by Stephen Tetro, Aaron Krieger, and Kim Enders.

Chapman was appointed to serve as US counsel to Mishmeret, trustee for more than $750 million of Tel Aviv Stock Exchange traded secured and unsecured bonds issued by All Year, and is the fourth representation by Chapman of indenture trustees in connection with defaults by British Virgin Islands issuers (Brookland Upreal Limited, Medley Capital, and Starwood West Limited) of Tel Aviv Stock Exchange traded bonds since November 2018.

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