Jennifer A. Coffey

Willkie advised Paramount Group in the transaction. Willkie represented longtime client Paramount Group, Inc. in its $860 million refinancing of 1301 Avenue of the Americas, a 1.8-million-square-foot Class A, trophy office building located between 52nd and 53rd Streets in Midtown Manhattan. The refinancing was structured as two separate loans, a $710 million mortgage loan and a $150 million mezzanine loan. The financing has a two-year term, with three consecutive one-year extension options. Headquartered in New York City, Paramount Group, Inc. is a fully integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City, Washington, D.C. and San Francisco. The transaction was handled by partners Thomas Henry and Jennifer Coffey and associates Sydney Jay and Jenny Boone.

Oct 4

1 min

The joint venture entered into an agreement with the estate of former PaineWebber chairman Donald Marron to sell off Mr. Marron’s art collection valued at over $300 million. As reported in the Wall Street Journal, Pace Gallery, Acquavella Galleries and Gagosian Gallery entered into a collective agreement with the estate of billionaire art collector and former PaineWebber chairman Donald Marron to sell off Mr. Marron’s art collection valued at over $300 million. The galleries will co-organize a major show chronicling the collection that will be displayed in some of their New York spaces this spring. Willkie represented Pace Gallery in negotiating the arrangements with the other galleries, and the joint venture in its agreement with the estate. The Willkie team was led by partner David Drewes and included associates Jennifer Coffey and Halie Klein. Read: “Three New York Galleries to Sell Financier’s Art Collection,” Wall Street Journal (2/19/2020)

Feb 19

1 min

Willkie represented the acquisition and construction lender on the project, a prominent life insurance company lender. On June 21, it was announced that Alchemy-ABR Investment Partners and Cain International completed a $120 million acquisition of 125 West 57th Street on Midtown’s Billionaire’s Row in a transaction with Calvary Baptist Church. The partnership will demolish the property and develop a 26-story, 420-foot-tall building totaling approximately 260,000 s/f, which will include ground floor retail and a tower delivering approximately 185,000 s/f of Class A office space. Cain will be providing the majority of the equity for the $330 million project and will be working closely with Alchemy-ABR Investment Partners who will oversee the project development. Willkie represented the acquisition and construction lender on the project, a prominent life insurance company lender. Upon completion, Calvary Baptist Church will separately own and occupy the base portion of the building. 125 West 57th Street is expected to open in late 2024. The Willkie team was led by partners David Drewes and Jennifer Coffey and included associates Elana King, Jenny Boone and Josh Baskin.

Jun 23

1 min

Willkie advised Mutual of America in the sale of its stake in 320 Park Avenue to Munich Re, which will take full ownership of the office building in New York. On December 23, it was announced that Munich Re acquired full ownership of the 320 Park Avenue office tower in New York City from Mutual of America. 320 Park Ave. is a prime address, and serves as the New York headquarters for a number of financial institutions such as Mutual of America. In 2021, asset manager MEAG secured a 25% stake in the Class A office tower on behalf of Munich Re in a joint venture with Mutual of America. Since then, the building has been modernized over an area of +350,000 square feet, almost half of the total available office space, with a recently completed $35 million renovation. The transaction is one of the largest office sales in New York City in 2024. The Willkie team was led by partners David Drewes, Jennifer Coffey and Todd Cosenza, and included associates Fred Swanstrum and Matt Ender-Silberman and law clerk Olivia Divak.

Dec 27

1 min

Willkie advised CapVest Partners LLP in the acquisition of Recochem, a leading global manufacturer, marketer, and distributor of aftermarket transportation and household fluids, from H.I.G Capital. On November 6, H.I.G. and CapVest announced that Recochem, a portfolio company of H.I.G., was acquired by funds managed by CapVest, with H.I.G. remaining a minority investor in Recochem. Recochem’s product portfolio spans branded, private label, and bulk offerings and includes coolant, appearance products, windshield wash fluid, diesel exhaust fluid, and a broad range of household fluids and industrial chemicals. With revenues in excess of $1 billion, the company serves consumers and industrial customers worldwide through its operations in North America, Europe, Australia and Asia-Pacific. CapVest is a leading international private equity investor focused on investments in companies supplying essential goods and services. The Willkie team was led by partners David Arnold, Neil Townsend, Patrick Sandor, Andrew Gray and Jenny Liu and included partners Russell Pinilis, Jennifer Coffey, Melissa Fischetti, Spencer Simon, Mark Holdsworth, Daniel Alvarez, Britt Mosman and Rahul Saha.

Nov 8

1 min