Brooksville Company LLC and Rockpoint Group LLC’s $905 Million Acquisition of Spring Creek Towers


Katten advised on the deal

Katten announced the finalization of the $905 million sale of Spring Creek Towers (formerly known as Starrett City), the largest federally subsidized housing development in the country. It is home to approximately 15,000 residents in a complex that includes 5,881 apartment units in 46 buildings. The transaction also included the adjacent shopping center. Real Estate partner Martin Siroka (Picture) led the team that represented Starrett City Associates, the original owners of the complex, in the sale. During the course of the transaction, Litigation partner Anthony Paccione and his team won a victory for the owners who were sued by a group of investors trying to block the sale claiming that the property was being sold under market value. A New York State Supreme Court judge ruled the sale could proceed after the Litigation team demonstrated that the vote of the majority of the ownership approving the sale was valid and should be enforced.

Katten advised on the deal with a team including Jonathan M. Boswell, Mark T. Ciani, Zachary Denver, David S. Kravitz, Harold A. Levy, Gabriel S. Marinaro, Margaret J. McQuade, Christine M. Murphy, Anthony L. Paccione, Marc S. Reiser, Martin Siroka, Lauren M. Talboom, Christy Tirtatunggal, Scott M. Vetri, Andrew C. Wu and Elizabeth Dominguez Yaeger

Involved fees earner: Jonathan Boswell – Katten Muchin Rosenman LLP; Mark Ciani – Katten Muchin Rosenman LLP; Zachary Denver – Katten Muchin Rosenman LLP; Elizabeth Dominguez Yaeger – Katten Muchin Rosenman LLP; David Kravitz – Katten Muchin Rosenman LLP; Harold Levy – Katten Muchin Rosenman LLP; Gabriel Marinaro – Katten Muchin Rosenman LLP; Margaret McQuade – Katten Muchin Rosenman LLP; Christine Murphy – Katten Muchin Rosenman LLP; Anthony Paccione – Katten Muchin Rosenman LLP; Marc Reiser – Katten Muchin Rosenman LLP; Martin Siroka – Katten Muchin Rosenman LLP; Lauren Talboom – Katten Muchin Rosenman LLP; Christy Tirtatunggal – Katten Muchin Rosenman LLP; Scott Vetri – Katten Muchin Rosenman LLP; Andrew Wu – Katten Muchin Rosenman LLP;

Law Firms: Katten Muchin Rosenman LLP;

Clients: Starrett City Associates;

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Author: Ambrogio Visconti