Case Study #3

Trophy asset in Manhattan with a world renowned financial institution as the sole tenant. The subject property had significant exposure to acts of Terrorism and the financing was slated for stand-alone securitization execution. The tenant insured the collateral and provided a non-traditional and highly complex insurance program for property & terrorism exposure that included a combination of conventional insurance with rated carriers, coverage through a tenant-owned captive, self-insurance and reinsurance. Harbor successfully negotiated loan agreement terms as well as policy terms and conditions, including reinsurance agreements and cut-through endorsements, that were tailored to meet the unique objectives of all parties and the loan was successfully securitized.