Foley represented Maynada Blue, an affiliate of Maynada Holdings, in securing a commercial loan from lender B2R Finance, an affiliate of Blackstone, in the amount of $45.5 million. The complex transaction was secured by 217 properties, which is a significant loan amount and size for a local fund based in Miami. Foley led efforts on behalf of Maynada Holdings for the title component and loan documentation, including the agreement negotiations and structuring of the transaction. Foley had represented Maynada Holdings earlier in 2015 in securing another commercial loan in the amount of $40 million from C1Bank, secured by 299 properties. The Foley team was led by Daniel Diaz Leyva and included Ashley McRae, Patricia Lane, and Christine Rittberg.
Foley represented Guggenheim Baseball Management in its acquisition of the Los Angeles Dodgers, marking the single largest transaction ever for a professional sports franchise. The new ownership group is led by Mark Walter, Chief Executive Officer of Guggenheim Partners, Earvin “Magic” Johnson, Peter Guber, and Stan Kasten, the former president of the Atlanta Braves and Washington Nationals, among others. The transaction, valued at over $2 billion, closed as of April 30, 2012, per an agreement between owner Frank McCourt and Major League Baseball (MLB) that was approved by the Delaware Bankruptcy Court, with funding occurring on May 1, 2012. This complex transaction was a unique and highly competitive sale process and tight timeline that required closing within 30 days of being selected as the winning bidder and special consideration to matters related to mergers and acquisitions, tax, bankruptcy, financing, real estate and land use, and media rights, among other areas. Overall, more than 60 Foley attorneys from 11 offices and 12 different practice groups assisted on the transaction, demonstrating both the breadth and depth of Foley’s capabilities in assisting clients to navigate such complex and high-profile transactions. The Dodgers transaction follows on the heels of Foley's successful recent representations of Wayne Weaver in his sale of the Jacksonville Jaguars, Rangers Baseball Express LLC in its acquisition of the Texas Rangers, and the Ricketts Family in its acquisition of the Chicago Cubs, which previously held the record price for an MLB franchise sale at $845 million.
Foley represented Extendicare in its $875 million divestiture of its U.S. senior nursing operations.