Doug Steward
Doug E. Stewart
+1.713.653.8804

Overview

Douglas Stewart is a Texas real estate attorney in Holland & Knight's Houston office with more than 40 years of experience working on complex real estate and real estate finance transactions. His finance experience includes construction projects, term loans, revolving credit facilities, bridge loans, land development and mezzanine lending. His real estate transactional experience includes acquisitions, development, ground leases, construction contracts and office leases.

Mr. Stewart also has significant workout experience, which includes foreclosures, deed-in-lieu, auction sales, lender liability and bankruptcy. Additionally, he has experience in matters involving syndicated credits, homebuilder lines of credit, hotel financing, land acquisition and development, improved property sales and financing, loan renegotiation and lender liability issues.

Representative Experience

  • Represented an administrative agent in workout negotiations to secure payoff of a $263 million loan used to construct a warehouse and distribution facility in Florida for a major U.S. company, involving extensive negotiations with the mezzanine lender, structuring and documenting a credit tenant lease, casualty losses prior to completion resulting in extensive completion delays, and negotiating a loan payoff with the tenant, developer and mezzanine lender, as well as multiple syndicate lenders, to occur through exercise of a note purchase obligation, enforcement of a forward purchase obligation or a loan refinance
  • Represented an administrative agent in an extensive workout and restructure of a $219 million borrowing base facility involving various properties in multiple states resulting in a cash flow mortgage, with cash traps of rent and other income to fund future operations, maintenance and tenant improvements
  • Represented an institutional lender in a workout and loan extension of a $100 million loan secured by a mixed-use property in Portland, Oregon, negotiating a "directed" sale, foreclosure or deed-in-lieu
  • Represented the bidder in the acquisition of Enron Tower and related facilities in Houston, Texas, including air rights, ground leases and parking agreements with a replacement cost of $300 million
  • Represented the lender in the workout and foreclosure in connection with a nationwide homebuilder involving projects in various U.S. states securing debts exceeding $70 million
  • Represented a lender in foreclosing on multiple commercial properties securing a $90 million line of credit
  • Represented a lender in negotiating a deed-in-lieu of foreclosure on multiple apartment projects
  • Represented a lender in negotiating release of claims and settlement agreements with various guarantors in a $45 million disputed credit facility

  • Represented a lender in a $400 million loan secured by a master-planned community
  • Represented lenders in letter of credit-enhanced financing totaling $115 million to construct a regional hospital and related facilities
  • Represented an agent bank in a $90 million loan secured by a resort project in San Antonio, Texas
  • Representing lenders in all phases of land development, construction projects and mezzanine lending

  • Represented a national apartment builder in the acquisition, finance, construction and development of various projects, including a $45 million project in Denver, Colorado
  • Represented a Fortune 100 company in lease contraction and renegotiation issues covering 20 floors at their headquarters building in Houston, Texas
  • Represented the developer in preparing and negotiating ground leases, construction contracts, office leases and financing documents, including construction and permanent financing for office tower
  • Represented a foreign trust in a $30 million Texas real estate acquisition

Credentials

Education
  • The University of Texas School of Law, J.D.
  • The University of Texas at Austin, B.A., with highest honors
Bar Admissions/Licenses
  • Texas
Memberships
  • American College of Mortgage Attorneys, Fellow
  • Texas College of Real Estate Attorneys, Fellow
  • Texas Association of Bank Counsel
  • American Bar Association
  • State Bar of Texas
  • Houston Bar Association
Honors & Awards
  • The Best Lawyers in America guide, Banking & Finance Law; Real Estate Law, 1995-2025
  • Texas Super Lawyers magazine, 2003-2008, 2010-2022
  • Martindale-Hubbell AV Preeminent Peer Review Rated
  • H Texas, Houston's Top Lawyers, 2014-2020
  • Who's Who Legal, Honored Member, 2014
  • Who's Who Legal, 2014

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