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Ed Gabbay is co-head of the firm's Syndicated & Leveraged Finance practice and primarily represents financial institutions, private equity firms and other corporate clients in the area of debt finance. He regularly represents clients in a wide spectrum of industries, including the commercial real estate, hospitality and health care sectors, as well as financings in more traditional manufacturing and service sectors.

Mr. Gabbay advises on secured and unsecured syndicated loan facilities as well as bilateral financings, in transactions that range in size from tens of millions to billions of dollars. These transactions frequently involve multitier capital structures that include senior debt, mezzanine debt, high-yield securities, and second lien facilities. He has extensive experience with covenant-lite and other cash flow structures, and a strong background in traditional asset-based finance.

Mr. Gabbay is also a member of the firm's Mergers & Acquisitions practice with extensive experience in acquisition finance. He also has extensive experience with debt restructurings and is an active member of the firm's Creditor practice.

Mr. Gabbay received his law degree from Fordham University School of Law, where he was a member of the Fordham University Law Review.

Experience

  • Administrative Agent and Lead Arranger in a $1 billion revolving credit facility extended to the operating partnership for Paramount Group, Inc., a public REIT with a portfolio of office properties in large urban markets across the United States.
  • Administrative Agent and Lead Arrangers in a $450 million revolving credit and term loan facility extended to the operating partnership for American Assets Trust, Inc., a public REIT with a portfolio of retail, office and residential properties throughout the United States.
  • Administrative Agent and Joint Lead Arranger in multicurrency revolving credit and term loan facilities aggregating up to $2.5 billion for Sabra Healthcare REIT, a prominent real estate investment trust owns and invests in skilled nursing, senior housing, hospitals and other health care properties.
  • Administrative Agent and Joint Lead Arranger in multicurrency revolving credit and term loan facilities aggregating $3.0 billion for a leading real estate investment trust with a high-quality, diverse portfolio of seniors housing and healthcare properties.
  • Administrative Agent and Joint Lead Arranger in multicurrency revolving credit and term loan facilities aggregating $2.0 billion for Boston Properties, Inc., one of the largest owners, managers, and developers of first-class office properties in the United States.
  • Administrative Agent and Joint Lead Arranger in multicurrency revolving credit and term loan facilities aggregating $1.85 billion for W.P. Carey, a leading, internally managed net-lease REIT that operates primarily in the US and Europe.
  • Administrative Agent and Joint Lead Arrangers in a $2 billion multicurrency revolving credit facility extended to one of the nation's largest multifamily REITs.
  • Administrative Agent and Joint Lead Arrangers in a $4 billion multicurrency revolving credit facility extended to one of the world's largest hospitality companies.
  • Administrative Agent and Joint Lead Arrangers in a $1.5 billion multicurrency transaction for a leading REIT engaged in the office/laboratory and technology sector.
  • Administrative Agent and "Left" Lead Arranger and Bookrunner in the negotiation of $2 billion revolving credit and term loan facilities to a healthcare real estate investment trust.
  • Administrative Agent, Syndication Agent and Joint Lead Arrangers in the negotiation and subsequent refinancing of a $1.5 billion multicurrency revolving credit facility and a $350 million term loan extended to one of the world's largest hospitality companies.
  • Administrative Agent and Mandated Lead Arranger in a £225 million revolving credit facility provided to a UK affiliate of a US-based real estate investment and services company, which permits an increase of the facility to £400 million subject to satisfaction of certain conditions.
  • Administrative Agent in an $800 million revolving credit facility extended to an established public REIT focused on office and retail properties in the NY metropolitan area.

Perspectives

Second Circuit Upholds Notes Issued From Syndicated Loans Are Not Securities in Kirschner
Advisory
Recent Announcements Concerning the Cessation of LIBOR (pdf)
The Banking Law Journal, Vol. 138, No. 7
IBA and FCA Announce Cessation of LIBOR Settings
Advisory
Legal Considerations in a Negative Interest Rate Environment
Coronavirus: Corporate and Finance Advisory
Key Issues in Loan Agreements Relating to the COVID-19 Pandemic
Coronavirus: Corporate and Finance Advisory

Recognition

IFLR1000
"Highly Regarded" — Banking, Financial Services (USA) (2018-2023)
"Leading Lawyer" — Banking (USA) (2013-2017)

Credentials

Education

  • J.D., Fordham University School of Law, 1985
  • B.S., Cornell University, 1981

Admissions

  • New York

Activities

  • Member, New York Bar Association
  • Member, American Bar Association
Overview