Steven G. Kalnoki

steven-kalnoki

Steven G. Kalnoki

Associate

Philadelphia | Cira Centre, 2929 Arch Street, Philadelphia, PA 19104-2808
+1 215 994 2404 | +1 215 994 2222

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Steven G. Kalnoki focuses his practice on commercial real estate finance and investment. Mr. Kalnoki represents banks, insurance companies, private equity funds and other institutional lenders in the origination of large mortgage and mezzanine loans. He originates balance sheet loans and CMBS loans secured by a wide variety of collateral, including office, retail, multi-family, mixed-use and condominium properties, and he has significant experience financing healthcare properties and hospitality assets. He also represents lenders and junior debt holders in connection with the purchase and sale of whole loans, A/B notes, participations, interests in syndicated loans, and other senior and subordinate debt.

Mr. Kalnoki also represents lenders and servicers in connection with mortgage and mezzanine loan servicing, CMBS loan servicing, and asset management. His loan servicing and asset management experience includes loan assumptions and equity transfers, loan modifications and other post-closing borrower requests, along with workouts and restructurings of under-performing and non-performing loans.

Additionally, Mr. Kalnoki represents borrowers, both in connection with the financing and refinancing of commercial real estate assets, and in connection with workouts and restructurings of existing loans.

Experience
  • Origination of a US$355 million mortgage loan secured by eight office properties in California and Hawaii.
  • Origination and servicing of an approximately US$2.6 billion mortgage and mezzanine financing package, secured by more than 200 health care properties including hospitals, nursing homes, and medical office buildings.
  • Origination of a US$112 million mortgage loan secured by a resort hotel in Hawaii.
  • Origination of a US$131 million mortgage loan secured by 18 self storage facilities across six states.
  • Represented a borrower in connection with mortgage and mezzanine financings totaling approximately US$1 billion, secured by 167 healthcare properties across 19 states.
  • Successful workout and restructuring of a defaulted US$219 million mortgage loan secured by a luxury hotel and resort in Hawaii.
  • Represented a CMBS master servicer in connection with the approval of an equity transfer and change of control on six mortgage loans totaling approximately US$470 million, secured by more than 120 extended-stay hotel properties.
Education
  • University of California, San Diego, B.A., 2005, magna cum laude
  • Harvard Law School, J.D., 2008, cum laude, Technical Editor of the Harvard Negotiation Law Review
Admissions
  • Pennsylvania
  • California
Memberships
  • CRE Finance Council (CREFC)