David I.Paulson

Partner

San Francisco + 1.415.875.5794

David Paulson's practice centers around the representation of commercial lenders in intricate real estate finance transactions and the resolution and restructuring of distressed loans. He has significant experience representing lenders with respect to both the origination and restructuring of construction, permanent, shared appreciation, and other secured and unsecured financings and in the participation and syndication of loans, particularly for hotel properties, golf resorts, and shopping malls.

David's areas of special focus include real estate investment trust (REIT) finance, hospitality finance, homebuilder lines of credit, senior housing, note purchases and sales, and mezzanine, A/B, and other forms of subordinated financing. Additionally, a significant portion of his time is spent working out troubled credits.

Clients for which David regularly works on substantial financing matters include Bank of America, BBVA/Compass Bank, Deutsche Bank, JPMorgan, KeyBank, PNC Bank, US Bank, and Wells Fargo Bank.

David helps coordinate Jones Day's Real Estate Finance Practice and frequently presents seminars and trainings for financial institution clients on all aspects of real estate financing and workouts.

Experience

  • Wells Fargo-led syndicate provides $400 million unsecured revolving credit facility to publicly traded real estate investment trustJones Day represented Wells Fargo Bank, National Association, as administrative agent, and Wells Fargo Securities, LLC, as arranger, in connection with an amendment to, and increase of, an existing credit facility to an industrial focused REIT that specializes in owning and operating multi-tenant buildings located in multi-building parks.
  • KeyBank arranges $1 billion revolving credit facilityJones Day represented KeyBank National Association, as left lead arranger and administrative agent, in connection with a $1 billion sustainability-linked revolving credit facility provided by a syndicate of lenders to a publicly traded real estate investment trust.
  • Wells Fargo provides $87.5 million senior secured revolving credit facility to Florida-based homebuilderJones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection with a $87.5 million senior secured revolving credit facility provided to a Florida-based homebuilder.
  • Wells Fargo provides financing for construction of mixed-use project in Atlanta, Georgia known as “Midtown Union"Jones Day represented Wells Fargo Bank, National Association in connection with aggregate loans in the amount of $300 million for the construction of a mixed-use project in Atlanta, Georgia known as “Midtown Union".
  • Wells Fargo-led syndicate of lenders successfully negotiate secured $1.1 billion restructuring credit facility for Pennsylvania Real Estate Investment Trust (PREIT)Jones Day represented Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, in connection with the Chapter 11 financial reorganization plan of Pennsylvania Real Estate Investment Trust (“PREIT”), a publicly traded real estate investment trust that owns and manages a portfolio of shopping malls totaling over 23 million square feet of retail space.
  • Wells Fargo provides $10 million multicurrency revolving credit facility to real estate investment companyJones Day advised Wells Fargo Bank, National Association in connection with a $10 million multicurrency revolving credit facility provided to a real estate investment company.
  • Wells Fargo provides $598.9 million syndicated construction loan for development of office and retail space in Bellevue, WashingtonJones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection with a $598.9 million syndicated secured construction loan for the development of a forty-two story office tower located in downtown Bellevue, Washington consisting of approximately 967,000 square feet of office space and approximately 28,000 square feet of retail space.
  • Wells Fargo refinances senior unsecured revolving credit facility for private real estate companyJones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection with the refinancing of a senior unsecured revolving credit facility and increasing the facility to $250 million for a private real estate company.
  • Wells Fargo provides $292 million syndicated term loan secured by office building in Boston, MassachusettsJones Day represented Wells Fargo Bank, National Association, as administrative agent, sole lead arranger, sole bookrunner, and a lender, in connection with a $292 million syndicated term loan secured by an office building located in Boston, Massachusetts.
  • Wells Fargo provides $166.6 million financing for construction of 640-unit Class A apartment property in Washington, D.C.Jones Day advised Wells Fargo Bank, National Association in connection with a $166.6 million loan to finance the construction of a 640-unit Class A apartment property located in Washington, D.C.
  • Wells Fargo amends loan agreement for non-public REITJones Day represented Wells Fargo Bank, National Association, as administrative agent, and Wells Fargo Securities, LLC, as an arranger, in connection with a fifth amended and restated loan agreement provided to a non-public REIT which, among other things, provided for a revolving credit facility in a decreased maximum aggregate principal amount of $150 million and a new delayed draw term loan facility in an aggregate principal amount of $75 million.
  • Well Fargo refinances $1.6 billion credit agreement with publicly traded real estate investment trustJones Day represented Well Fargo Bank, National Association, as administrative agent and lender, in connection with the amendment and restatement of a publicly traded real estate investment trust’s $1.6 billion credit agreement, pursuant to which the $600 million revolving credit facility and $400 million tranche A-2 term loan credit facility were refinanced and extended.
  • Wells Fargo provides financing for renovation and operation of two twenty-six story multi-family buildings in Fairfax, VirginiaJones Day advised Wells Fargo Bank, National Association in connection with the $180 million refinance, renovation, and operation of two twenty-six story multi-family buildings in Fairfax, Virginia.
  • Wells Fargo leads $1.5 billion secured credit facility refinance and upsizeJones Day represented Well Fargo Bank, National Association, as administrative agent, in connection with the refinance and upsize of a $1.5 billion credit facility, consisting of a $700 million revolving credit facility, a $300 million term loan A, and a $500 million term loan B, secured by four Gaylord-branded destination resort and conference centers totaling 8,114 guest rooms and over two million square feet of meeting space.
  • Wells Fargo provides $470 million term loan secured by office building in Boston, MassachusettsJones Day represented Wells Fargo Bank, National Association in connection with a $470 million senior term loan secured by a 32-story, 1.1 million square foot office building in downtown Boston, Massachusetts.
  • Wells Fargo provides $350 million construction loan for development of office campus in San Jose, CaliforniaJones Day represented Wells Fargo Bank, National Association in connection with a $350 million construction loan for the development of an office campus located in San Jose, California.
  • Wells Fargo provides $880 million term loan secured by hotel and convention center in Aurora, ColoradoJones Day represented Wells Fargo Bank, National Association, as administrative agent, lead arranger, sole bookrunner, and lender, in connection with a $880 million senior syndicated term loan secured by a newly-constructed 1,501 room hotel and convention center situated on a 85 acre-campus in Aurora, Colorado.
  • Wells Fargo provides $357.5 million senior term loan secured by office tower in Midtown ManhattanJones Day represented Wells Fargo Bank, National Association, as administrative agent, sole lead arranger, sole bookrunner, and lender, in connection with a $357.5 million senior syndicated term loan secured by an 815,000 square foot, fifty-story office tower located in Midtown Manhattan.
  • Wells Fargo provides $125 million construction loan for development and construction of transit-oriented project in CaliforniaJones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection with a $125 million syndicated construction loan for the development and construction of a mixed-use, transit-oriented project adjacent to the San Jose Airport.
  • Major financial institution provides $167.2 million loan secured by office complex in CaliforniaJones Day represented a major financial institution, as administrative agent, in connection with a $167.2 million loan secured by an office complex located in Contra Costra County, California.