Latham & Watkins Advises on Breakthrough Properties and Tishman Speyer’s US$90 Million Mezzanine Loan for Aperture Del Mar

Breakthrough Properties and Tishman Speyer have announced a joint investment in a US$90 million mezzanine bridge loan for Aperture Del Mar, a newly constructed, 538,000-square-foot Class A life science campus in San Diego. The Borrower, Gemdale USA, will use the proceeds to refinance an existing loan.

Latham & Watkins LLP advised Gemdale USA with a real estate team led by New York partners Becky Landau, Michael Haas, and Doug Heitner, with associates Ana De Santiago Ayon and Jennifer Lan. Advice was also provided on restructuring matters by New York partner Suzanne Uhland; on litigation matters by Los Angeles partner Josh Hamilton; on tax matters by Los Angeles partner Ana O’Brien, with counsel Will Kessler; and on ERISA matters by counsel Aryeh Zuber.