ULI Washington: Southern Management’s $2.4B Transaction:
Inside The Deal
On July 13, 2020 we took a deep-dive into this transaction via a ULI case study webinar. Joining us was Suzanne Hillman of Southern Management, Jeff Hayward of Fannie Mae, Brendan Coleman of Walker Dunlop, and Leslie Ludwig of L&L Advisors. The webinar gave us a great opportunity to learn about the complexity and nuances of the transaction and hear from some of the other key leaders who made it happen. Click here to access recording.
For more information see the article: Leadership Insights from Candace Chazen and Charlotte Troup Leighton:
At a time when we have experienced months of challenges none of us would have ever imagined – the triple threats of COVID-19, the employment and financial impact, and then the extraordinary protests once again calling for imperative, true, and lasting equality, we wonder if there is any good news to counterbalance what is playing out on the global stage. Where are we finding collaboration, patience, creative problem-solving — and solutions? And can we in commercial real estate forge forward during a time of confusion, distraction and uncertainty in not only the markets, but in our society and common humanity? We found that answer to be “yes, we can.” Read More….
Fidelity National Title and Chicago Title Partner to Insure $2.4 Billion Southern Management Portfolio During Covid-19 Lockdown
WASHINGTON, D.C. May 5, 2020 - Fidelity National Title Insurance Company and Chicago Title Insurance Company, two of the nation's leading providers of title insurance for commercial real estate, combined the forces of their Washington D.C. based National Commercial Services offices to close and insure a $2.4B Fannie Mae Credit Facility refinance of 67 multifamily properties (22,439 units) in Maryland and Virginia in late April. The borrower, Southern Management Corporation, is the largest privately-owned residential property-management company in the Mid-Atlantic region.
“The creative teamwork, the can-do attitude, and unparalleled expertise of these title professionals was remarkable. Their unwavering commitment was critical to getting this complex deal to the finish line under adverse conditions,” said Suzanne Hillman, President and CEO of Southern Management Corporation. “Every nuance of this transaction was approached with a thoughtful analysis to build the best possible teams. The partnering of Chicago Title and Fidelity Title’s DC NCS teams was unprecedented and seamless. They are truly the best of the best.”
Fidelity National Title DC based NCS team was led by Candace Chazen, SVP and Director of Client Relationships, and by Sarah "Sally" Webb, SVP and Major Transactions Counsel. Chicago Title DC based NCS team was led by Charlotte Troup Leighton, SVP, Director of Business Development and by Eric Taylor, SVP, Senior Counsel. Internal production was managed by Fidelity National Title’s Joanne Leong, VP, Commercial Counsel, and Chicago Title's Debbie Bond, VP, Major Transactions Officer.
“It was our honor to be selected by Southern Management Corporation as the title team for this important transaction. Our collaboration allowed us to bring our top industry professionals and financial strength together to close and insure this substantial and complex transaction,” shared Candace and Charlotte. "We are proud of the collective efforts of our outstanding teams who adapted quickly following COVID-19 stay-at-home orders, adding a whole new level of complexity to closing a deal of this size."
Fidelity National Title, NCS, DC and Chicago Title, NCS, DC are members of the Fidelity National Financial family of companies and the largest group of title companies and title insurance underwriters. The FNF brands collectively issue more title insurance policies than any other title underwriter in the United States.
Chris Naughten
Senior Vice President, NCS Operations Manager
Fidelity National Title Insurance Company | National Commercial Services
Member of the Fidelity National Title Group, the nation’s largest provider of title insurance.
1620 L Street NW, 4th floor
Washington, DC 20036
Direct: (202) 312-5113 | Cell: (301) 758-3633
cnaughten@fnf.com | http://dcncs.fntic.com/
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