ESL Investments and Transform Holdco in $800 Million Mortgage Financing of Property Portfolio

April 17, 2019

Cleary Gottlieb represented affiliates of ESL Investments and Transform Holdco in the origination of an $800 million mortgage loan from a syndicate of lenders, secured by a portfolio of retail properties that were purchased by Transform Holdco from the bankruptcy estate of Sears Holding Corporation.

The transaction closed on April 17, 2019.

The loan was used to refinance existing debt of Transform Holdco and provide a more cost effective and flexible capital structure.