Alston & Bird has enhanced its Finance Group with the addition of partner Stephen D. Blevit in Los Angeles. Blevit has handled more than $100 billion of transactions involving single-family residential homes, including term and warehouse financings and securitizations.
Blevit handled the first institutional warehouse facility for single-family rental in 2012, the first securitization of single-family rental debt in 2013, and the first securitization of iBuyer debt in 2021. Notably, he developed the financing and securitization documentation widely used at all levels of single-family rental finance today.
“Steve is a true pioneer who helped develop single-family rental into a widely recognized structured finance asset class, and his impressive background enhances our Finance practice and our Structured & Warehouse Finance team in particular,” said Shanell Cramer, Alston & Bird partner and co-head of the firm’s Finance Group. “His strong relationships with banks and other key players in the structured finance industry better position us to assist clients in a variety of structured finance disciplines.”
Blevit has also handled numerous joint ventures, investment funds, and mergers and acquisitions involving single-family rental home operators. In addition to Wall Street banks, his clients include special opportunities hedge funds, private market lenders, private equity funds, and public and privately held operators of single-family residential assets.
Blevit joins from Sidley Austin and previously served as the assistant to the chairman of SunAmerica, Eli Broad. He is also a certified public accountant and a former adjunct professor at the University of Southern California Gould School of Law.
“Alston & Bird’s robust corporate and finance offerings, including formidable capabilities to advise clients on all aspects of structured finance, securitization, corporate trusts, and other key areas, make the firm a perfect fit for me and my practice,” said Blevit. “I’ve immediately seen synergies between my practice and the existing Alston & Bird structured finance team.”
Alston & Bird’s team of more than 100 finance lawyers represents the market’s most active players in commercial real estate lending, corporate debt, commercial mortgage servicing, corporate trust, structured finance, and other areas. The team brings particular expertise in investment-grade and leveraged syndicated credits, structured finance products (including CLOs and CDOs), energy infrastructure project finance, CMBS structuring and servicing, acquisition finance, dividend and other recapitalizations, leveraged REITS, the single-family rental space, letter of credit financing, credit default swaps and other derivatives products, ABLs, high-yield bond and other public debt issues, and mezzanine financing.