Daniel J. Favero is a partner in Mayer Brown LLP’s Chicago office. He represents insurance companies and other institutional investors and market participants in domestic and cross-border private placement transactions and other financings.
His work has focused on real estate lease financings, credit tenant loans, ground lease financings, construction financings, project finance, senior, subordinate and mezzanine financings, certified capital company (CAPCO) transactions and other tax credit financings including new market tax credits.
Daniel is frequently called upon by investors, investment bankers and mortgage brokers and other transaction sponsors to help structure transactions to comply with NAIC Guidelines and to satisfy investor expectations and needs.
He also provides pro bono representation to a non-profit organization that provides an after school program to over a thousand of Chicago’s most at-risk students in some of the most under-resourced neighborhoods in the City of Chicago.
- DePaul University College of Law, JD, summa cum laude
- University of Illinois at Springfield (Sangamon State University), BA
Admissions : Illinois
Activities : American College of Investment Counsel
- $111 million construction financing of a hospital, garage and medical office building complex for St. Luke’s Episcopal Health System Corporation. The financing is secured by a letter of credit and is interest-only during construction and is structured to qualify as a credit tenant loan and shall commence amortization after construction is completed. The transaction was structured with two, cross-defaulted tranches of Notes, one secured by the hospital alone and the other secured by the hospital and the medical office building.
- Financing of two charter schools in New York State. The structure included mortgages on the schools, an assignment of the leases, residual value insurance to cover the balloon at maturity and letters of credit to cover rentals that are due after the expiration of the current state charter for the schools.
- $300 million 144A real estate lease financing of a bank headquarters that involved certain innovative features including no mortgage on the fee interest and accounting recognition by the borrower of a sale of a financial asset while retaining ownership in the project.
- Multiple-property real estate construction financing for a Chicago shopping center involving cash escrow, completion bonds and assignment of construction contracts as security during construction, a loan amount true-up feature and conversion to a Schedule D eligible credit tenant loan after construction completion.
- Development of a Sharia-compliant (i.e., compliant with Islamic law which prohibits charging or paying interest) real estate lease financing structure.
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