Benjamin F.S. 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.
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.
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
- 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
Haynes Boone Adds to Burgeoning Real Estate Practice with Partner Ben Herd in Dallas
September 11, 2024