Jeffrey S. Page

Tel 646.346.8016
Fax 212.223.1942
New York

Jeffrey S. Page is the Team Leader of Ballard Spahr's New York Real Estate Finance Team and a transactional finance lawyer who handles a wide range of real estate and commercial finance matters. He serves institutional lenders across the country and internationally, handling transactions involving virtually every type of real estate asset. He is experienced in all facets of real estate lending, including structuring the capital stack, advising on intercreditor and participation issues, drafting and negotiating documents, and navigating distressed loan workouts. His practice includes loans originated to be held on the balance sheet, to be syndicated (ranging from small facilities with several lenders to large facilities with dozens of lenders), to be securitized through CMBS, and loans originated for CLO securitization.

Jeff is a proponent of using technology to drive efficiencies for clients and has successfully integrated automation into his practice. He leverages client-focused technology to seamlessly and cost-effectively facilitate the loan-closing process.

Jeff previously served as executive director in the New York office of a major European bank, where he was responsible for the team handling the structuring and closing of loans, servicing of construction loans, and managing loans in workout. At its peak, the bank originated more than $10 billion of loan facilities annually. In addition, Jeff was responsible for developing and maintaining the bank's form loan documents, which included documentation for syndicated loans, mezzanine loans, and CMBS loans. During the financial crisis, Jeff was responsible for managing $6 billion of distressed loans.

Jeff's representative matters include:

Lead Lender Loan Transactions:

  • $300 million construction loan for a hotel in Florida
  • $245 million office loan in New York (included A/B and mezzanine components)
  • $150 million hotel/golf course construction loan in New York
  • $72 million 80/20 credit facility in New York
  • $78 million residential loan with historic tax credits in New York
  • $22 million office loan in New Jersey
  • $100 million mezzanine loan secured b cash flow pledges from four regional malls
  • $70 million CMBS loan for garden apartments in Pennsylvania
  • $120 million sharia compliant CMBS loan
Administrative Agent in Workouts/Restructurings:

  • $2.6 billion multi-lender corporate facility for a retail REIT
  • $1.5 billion multi-lender senior secured portfolio loan for a retail REIT
  • $80 million senior loan and $35 million mezzanine loan on a condo/hotel construction project in Florida
  • $80 million condominium construction loan in Massachusetts
  • $180 million multi-lender resort hotel/residential construction loan in Arizona
  • $200 million A-note, $135 million B-note, and $30 million C-note on a condo/hotel conversion loan in New York
  • $50 million senior assisted care credit facility in Louisiana

Professional Activities

New York State Bar Association

Recognition & Accomplishments

The Legal 500 US, Real Estate and Construction - Real Estate, 2019


Co-author, "Inside Lending Trends in Real Estate Finance: The U.S. v. Europe," Inside Counsel, January 8, 2015

Co-author, "The Search for Yield: The U.S. v. Europe," Inside Counsel, February 20, 2015

Co-author, "Real Estate Finance: Will it Be Different This Time Around?" Inside Counsel, March 18, 2015

Speaking Engagements

"Derivatives for Real Estate Finance Transactions," PLI seminar

Moderator, "The New 421-A," Real Estate Lenders Association panel

Seton Hall University School of Law (J.D., magna cum laude, 1998)

Pennsylvania State University (B.A., cum laude, 1983)

New York

New Jersey