David I. Paulson

Partner

San Francisco + 1.415.875.5794

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David Paulson's practice centers around the representation of private capital providers, debt funds, and commercial lenders in complex real estate finance transactions as well as the resolution and restructuring of distressed loans.

David's areas of special focus include hospitality, single-family for rent housing, multifamily, office, retail, studio, industrial, senior housing, and data center properties, as well as secured and unsecured lines of credit for real estate investment trusts (REITs), regional and national homebuilders, and real estate funds. Additionally a significant portion of his time is spent working with mezzanine, A/B, preferred equity, and other forms of subordinated financing.

David's workout experience spans the gamut from the restructuring and exercise of remedies with respect to single-asset secured transactions, to the workout of large secured and unsecured syndicated public-company credits, including within bankruptcy and litigation. David also has led numerous large and small note purchase and sale transactions, including global purchases of large multicountry loan portfolios and the purchase and sale of small pools of nonperforming loans.

David helps coordinate Jones Day's real estate finance area and frequently presents seminars and trainings on all aspects of real estate financing and workouts.

Experience

  • Wells Fargo arranges incremental increase of revolving acquisition and construction facility secured by data center propertiesJones Day represented Wells Fargo Bank, National Association, as administrative agent for the bank syndicate, and Wells Fargo Securities, as arranger, in connection with a $1.475 billion incremental increase of a revolving credit facility which provides for total revolving credit commitments of $5.75 billion.
  • Wells Fargo amends and restates $4 billion senior unsecured revolving credit facility for publicly traded real estate investment trustJones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection with the amendment and restatement of a $4 billion senior unsecured revolving credit facility for a publicly traded real estate investment trust.
  • Wells Fargo-led syndicate provides $1.38 billion senior unsecured credit agreement to subsidiary of publicly traded real estate investment trustJones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection with a $1.38 billion senior unsecured credit agreement, consisting of a $1 billion revolving credit facility and a $380 million delayed draw term loan facility, to a subsidiary of a publicly traded real estate investment trust.
  • Wells Fargo arranges incremental increase of loan secured by data center propertiesJones Day represented Wells Fargo Bank, National Association, as administrative agent for the bank syndicate, and Wells Fargo Securities, as arranger, in connection with a $1.175 billion incremental increase of a revolving credit facility, which provides for total revolving credit commitments of $4.275 billion.
  • Blackstone Real Estate Debt Strategies provides $189 million loan secured by 49 properties located across 22 statesJones Day represented an affiliate of Blackstone Real Estate Debt Strategies in connection with a $189 million loan secured by 49 industrial storage properties located across 22 states.
  • Financial institution provides term loan secured by property in New YorkJones Day represented a financial institution, as lender, in connection with a term loan, secured by a mixed-use building located in New York, New York.
  • Large financial institution arranges $1.85 billion multicurrency credit facility for real estate investment fundJones Day represented a large financial institution, as administrative agent, in connection with a $1.85 billion unsecured credit facility, consisting of a US$825 million revolving credit facility, a CA$175 million alternative currency revolving credit facility, and a US$850 million term loan facility, provided to a real estate investment fund.
  • Wells Fargo provides $240 million syndicated, senior-secured construction loan for 685-unit residential building in downtown Los Angeles, CaliforniaJones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection with a $240 million syndicated, senior secured construction loan for the construction of a multi-family residential building containing 685 units located in downtown Los Angeles, California.
  • Wells Fargo provides $55 million senior term loan secured by retail power center located in Oceanside, CaliforniaJones Day represented Wells Fargo Bank, National Association in connection with a $55 million senior term loan secured by a retail power center located in Oceanside, California.
  • Major financial institution provides $150 million term loan facility secured by state of art cancer treatment center in New York CityJones Day represented a major financial institution, as administrative agent, in connection with a $150 million term loan facility secured by a state of the art cancer treatment center located in New York City.
  • Blackstone acquires $1.0 billion Performing Senior Mortgage Loan Portfolio from Deutsche PfandbriefbankJones Day advised Blackstone Real Estate Debt Strategies in the acquisition of a $1.0 billion performing senior mortgage loan portfolio from German lender, Deutsche Pfandbriefbank (PBB).
  • Wells Fargo and group of lenders provide $475 million senior unsecured revolving credit facility to large real estate investment management firmJones Day represented Wells Fargo Bank, National Association, as administrative agent and joint lead arranger, in connection with a $475 million syndicated, senior unsecured credit facility comprised of a $325 million revolving credit facility and a $150 million term loan facility.
  • Wells Fargo-led syndicate provides $3 billion loan revolver secured by eight data center propertiesJones Day represented Wells Fargo Bank, National Association, as administrative agent and lender, and Wells Fargo Securities, LLC, as arranger and loan coordinator, in connection with a $3 billion syndicated revolving credit facility secured by eight data center properties across Arizona, Georgia, Nevada, Texas, Virginia, and Washington.
  • Wells Fargo provides $300 million syndicated revolving credit facility to national owner/operator of marina facilitiesJones Day represented Wells Fargo Bank, National Association, as administrative agent, left lead arranger, and lender, and another financial institution, as a joint lead arranger and a lender, in connection with a $300 million syndicated, pledge-secured, revolving credit facility provided to a national owner/operator of marina facilities.
  • Wells Fargo-led syndicate provides $1.3 billion term loan facilities for assumption by real estate investment trustJones Day represented Wells Fargo Bank, National Association, as administrative agent, and Wells Fargo Securities, LLC, as arranger, in connection with the assumption by a real estate investment trust of two senior unsecured term loan facilities of $1.3 billion, consisting of a $800 million term loan facility with a $300 million tranche, a $500 million tranche, and a $500 million single tranche term loan facility.
  • Hard Rock partners with Steve Cohen to bid for casino and entertainment complex in New YorkJones Day advised Hard Rock International in connection with its partnership with Steve Cohen, owner of the New York Mets, for a bid to secure a downstate New York gaming license.
  • National bank sells $160 million syndicated loan secured by an office buildingJones Day advised a national bank, as administrative agent, in connection with the sale of an approximately $160 million distressed syndicated loan secured by an office building.
  • Wells Fargo and syndicate of lenders provide $600 million secured construction loan facility to industry-leading data center operatorJones Day represented Wells Fargo Bank, National Association, as administrative agent and a lender, and Wells Fargo Securities, LLC, as left lead arranger, in connection with the modification and $300 million upsize to an existing $300 million senior secured construction loan secured by a to-be-constructed data center buildings located in Goodyear, Arizona.
  • Wells Fargo amends and restates $650 million senior secured revolving credit facility for publicly traded real estate investment trustJones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection with the amendment and restatement of a $650 million senior secured revolving credit facility for a publicly traded real estate investment trust.
  • Wells Fargo refinances $1.225 billion unsecured credit facilityJones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection the refinancing of a $1.225 billion unsecured credit facility, inclusive of a $600 million revolving credit facility, a new $225 million tranche A-1 term loan facility, and an existing $400 million tranche A-2 term loan facility for a publicly traded real estate investment trust.
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    AUGUST 2020 Commentary

    California 2020 Ballot Initiatives Pose Risk of Major Changes to Commercial Real Estate

    April 2020 Commentary

    Relief for Multifamily Borrowers and Tenants in the CARES Act

    February 2013 Alert

    California Supreme Court Allows Parol Evidence to Prove Fraud

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