People / Benjamin Herd

Biography

Ben Herd is a partner in the Real Estate Practice Group in Haynes Boone’s Dallas office.

His practice focuses on real estate finance and commercial real estate. He has represented lenders in commercial mortgaged-backed securities (CMBS), collateralized loan obligations (CLO) and similar structured programs in hundreds of loan origination transactions, as well as whole loan sales, syndications and "b-note" purchases/sales. Ben represents special servicers in relation to defaulted or troubled loan workouts, maturity default resolution, collateral foreclosure, lease negotiation and the sale of real estate-owned (REO) property.

Ben assists national and regional banks in complex commercial loan transactions, including ground leases, tenants-in-common, and acquisition and multi-tranche construction financing. He also provides advice and counsel to developers of large commercial projects, including Class A multifamily complexes, large retail shopping centers and office towers. Ben advises borrowers in the defeasance of permanent debt facilities.

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Real Estate Finance

  • Represented NYC landlord in a $74 million CMBS refinancing of office building in New York
  • Represented a publicly traded real estate investment trust (REIT) in the $165 million CMBS financing of 90-property retail portfolio
  • Represented a publicly traded REIT in the simultaneous defeasance of $169 million in CMBS loans secured by 58 properties located in 19 U.S. states
  • Represented a special servicer in the negotiation and closing of a $261 million CMBS securitization
  • Represented a commercial real estate investment firm in its refinancing of an historic Texas shopping center involving preferred equity and $17.3 million in senior and mezzanine CMBS debt
  • Represented a commercial real estate investment firm in its acquisition of a shopping center, including preferred equity and a $41.75 million CMBS loan
  • Represented a mortgage loan originator in its securitization of collateralized loan obligations with face value of $260 million
  • Represented a securitized business trust (REMIC) (through its special servicer) in a commercial real estate loan workout involving a $82.5 million loan secured by a skyscraper in downtown Phoenix
  • Represented a mortgage loan originator in its securitization of collateralized loan obligations with face value of $125 million
  • Represented a securitized business trust, a real estate mortgage investment conduit (REMIC) through its special servicer in a commercial real estate loan workout involving a $44.5 million loan secured by a skyscraper in downtown Cincinnati

Commercial Real Estate Development and Transactions

  • Represented national developer in the purchase of a trophy mixed-use development in Newport, Kentucky
  • Represented a national developer in the development, multi-tranche financing and ultimate sale of a trophy mixed-use development in Alpharetta, Georgia
  • Represented an international hospitality chain in defeasance of 80 properties to reverse sale-leaseback transactions in conjunction with the disposition of a 700-property hotel portfolio
  • Represented a national developer in the development of a $114 million mixed-use/student housing development in Florida and the negotiation of a $46.7 million construction loan
  • Represented a national Class A multifamily developer in the acquisition and development of a 395-unit apartment complex in Texas and the negotiation of a $30 million senior construction loan and a $10 million mezzanine loan
  • Represented a commercial real estate investment firm in its acquisition of an iconic Northern California shopping venue, including preferred equity and a $67.2 million CMBS loan
  • Represented a national Class A multifamily developer in the acquisition and development of a 348-unit apartment complex in Texas and the negotiation of a $26.5 million construction loan

Corporate Transactions

  • Represented ownership of a minor league baseball club in the sale of the team, including attendance-based incentive payments and coordination and approval of Major League Baseball
Some of these representations were handled by Ben prior to joining Haynes Boone.
  • American College of Mortgage Attorneys (ACMA), Fellow
  • State Bar of Texas
  • Texas State Bar College
  • Dallas Bar Association, Real Property Section, Chair, 2016; Vice Chair, 2015; Secretary, 2014; Treasurer, 2013
  • Mortgage Bankers Association
  • West Dallas Community School, Board Member
  • Park Cities Quail Coalition
  • The Best Lawyers in America, Woodward/White, Inc., Dallas/Fort Worth Securitization and Structured Finance Law Lawyer of the Year, 2023
  • The Best Lawyers in America, Woodward/White, Inc., Securitization and Structured Finance Law, 2019-2025
  • Chambers USA, Chambers and Partners, Real Estate, 2019
  • Irish Legal 100, Irish Voice, 2016-2024
  • Texas Super Lawyers, Thomson Reuters, Real Estate, 2013-2022
  • Best Lawyers in Dallas, D Magazine, D Magazine Partners, Real Estate, 2015
  • The Legal 500 U.S., Legalese Ltd., Recognized Attorney, Real Estate and Construction: Construction; Real Estate and Construction: Real Estate, 2015, 2020
  • "CMBS Loan Defeasance Transactions: Borrower and Lender Strategies, Process, Timing, Benefits and Risks," presenter, Strafford Webinar, June 11, 2024.
  • "Cash Management in the Real Estate Lending Context: Hand Over the Money and No One Gets Hurt," presenter, Strafford Webinar, June 11, 2024.
  • "Equity Participations," presenter, Trigild Spring Conference, April 2017.
  • "Intercreditor Agreements," panel moderator, Commercial Real Estate Finance Council (CREFC) High Yield & Distressed Realty Assets, March 13, 2014.
  • "Lending Deals Gone Bad," panel moderator, Commercial Lending Institute, February 12, 2014.
  • "Lessons Learned through the Crash and Rebound," panel moderator, Commercial Lending Institute, February 12, 2014.
  • "Lender and Borrower Pointers; A Practitioner's Approach to Negotiating CMBS Loan Transactions for Both Lenders and Borrowers; What is Negotiable, Non-Negotiable, and Why," panel moderator, Commercial Lending Institute, February 12, 2014.

Education

J.D., Southern Methodist University Dedman School of Law

B.A., St. Mary's University

Admissions

Texas