Stacy Leshock Dee
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Stacy Leshock Dee
Managing MemberStacy has significant experience representing government sponsored entities, institutional lenders and banks in commercial real estate finance transactions. Her practice focuses on complex finance transactions involving multifamily and commercial real property including seniors housing facilities, condominiums, manufactured housing developments, student housing facilities and retail centers. Her experience includes origination and servicing of conventional and structured finance transactions, as well as securitization due diligence. In addition to real estate finance transactions, Stacy has documented, negotiated and facilitated the closing of numerous secured and unsecured commercial finance transactions, including cash flow and asset-based financings, letter of credit and other credit enhancement transactions, on behalf of lenders and borrowers in syndicated and single lender transactions.
Prior to joining Reiferson Dee PLC, Stacy was a member in the Pittsburgh, Pennsylvania office of Clark Hill PLC, where she served on the firm’s Executive Committee and co-chaired the firm’s Recruitment Committee. Prior to that, Stacy was Associate General Counsel in the Mortgage Law group at Freddie Mac, where she worked closely with the production, underwriting, purchase, asset management and structured finance groups, providing legal advice regarding evaluation of risks, loan structuring, documentation, policy and product development.
Stacy joined Freddie Mac after serving as a real estate finance associate at Ballard Spahr LLP in Washington, DC. Stacy began her legal career as an associate in the financial institutions and real estate group of Thorp Reed & Armstrong, LLP in Pittsburgh, Pennsylvania.
Education
- University of Pittsburgh (B.A., Summa Cum Laude, 1994)
Phi Beta Kappa - The George Washington University School of Law (J.D., With Honors, 1997)
Dean’s Fellow, Moot Court Board, The Environmental Lawyer journal
Bar Admissions
Recognition and Honors
- Leadership 35 Committee Member, National Women’s Law Center (2007-2008)
- Leadership Pittsburgh – Leadership Development Initiative IX
Community Activities
Representative Matters
- Represented a government-sponsored entity in connection with a $1,801,875,500 portfolio consisting of two pools comprised of 32 cross-collateralized mortgage loans securing properties throughout the country. The pools involved unique spread maintenance provisions; a combination of interest rate swaps and caps; intercreditor agreements with respect to two layers of mezzanine financing and permitted indebtedness consisting of a revolver, swing loan and multiple term loans; a second mortgage and guaranty structure to cross-collateralize the single New York property with the rest of the applicable pool; partial condominiums; a vertical subdivision; a ground lease; a completion guaranty; and intricate release and substitution rights within the crossed pools.
- Represented the master servicer of a securitized loan in a loan split and partial assumption of a $32,385,418 loan secured by fee and leasehold interests in three properties located in different states. The transaction involved complex substantive non consolidation and REMIC issues.
- Counsel to a government-sponsored entity in connection with the purchase of a $741,140,000 cross-collateralized portfolio of mortgage loans securing fourteen apartment complexes and related assets located in eight states. In addition to numerous jurisdictional issues with respect to cross-collateralization, the structured finance transaction involved affordable housing restrictions, condominiums, substitution rights and various environmental issues.
- Represented a government-sponsored entity in connection with a $225,000,000 22 property seniors housing cross-collateralized portfolio of mortgage loans involving eight states, complicated operating leases and healthcare licensing issues.
- Counsel to a government-sponsored entity in connection with the preparation of exceptions to representations and warranties to investors, and related due diligence, in connection with a securitization pool comprised of over 100 mortgage loans.
- Represented a banking institution, as agent, in a $9,000,000 asset-based syndicated co-borrower credit facility secured by personal property, specific patents, patent applications and trademarks, numerous parcels of real property and life insurance policies. The transaction involved multiple existing security interests among the members of the bank group and intricate intercreditor issues.
- Counsel to the administrative agent and lead arranger with respect to a $200,000,000 senior secured credit facility with a letter of credit subfacility, swing line and accordion feature provided by a syndicate of six national financial institutions to a reciprocal insurance exchange acting through an attorney-in-fact. The credit facility was secured by a securities account maintained by the borrower, consisting of a portfolio of government bonds and notes, municipal bonds, federal agency bonds and corporate bonds. The documentation and negotiation of the credit facility involved numerous issues related to the borrower’s organizational and management structure and the regulation of reciprocal insurance exchanges.
- Represented the asset-based lending division of a large international lender in connection with a $5,000,000 fully-controlled asset-based financing with a lockbox and strict borrowing base requirements including reserves for environmental and tax issues. The transaction involved intricate payment and lien subordination arrangements with respect to one insider loan and seven government loans.