Commercial Real Estate
We offer a broad range of commercial real estate experience in representing national and regional developers and institutional investors in acquisition, entitlement, construction, financing, leasing, build-to-suit, sale, condominium and related development matters.
Our development and land use practice spans office, medical office, governmental, retail, industrial, hotel, student housing and residential product types, and includes structuring major vertical and horizontal mixed-use projects throughout the country. As part of these transactions, we have negotiated site acquisition agreements, development agreements, joint venture agreements, design/build agreements, leases, construction contracts, loan agreements, tax increment and special assessment financing documents, reciprocal easement agreements, operating agreements, property management agreements, condominium declarations, and the like. We have experience in these transactions in development, re-development, investment, workout, and “real estate-owned” contexts.
We also work extensively with institutional investors and property owners in leveraged sale and leaseback transactions, as well as the acquisition and disposition of, and loans on, income-producing properties, construction and permanent financings and refinancings, entity formation, ownership restructurings, and like-kind exchange transactions. We also assist a variety of entities in structuring joint venture arrangements, tax increment, special assessment and bond financings, sales tax revenue and other public financings, and conventional and non-conventional mortgage financings, including mezzanine borrowings and financings and preferred equity investments of all types. We also handle a wide variety of property management and construction related issues.
In addition, we have extensive and relevant experience in the workout and “real estate-owned” areas, where we have represented lenders, borrowers, receivers, managers, and related entities in a variety of restructuring, re-positioning, stabilization and disposition activities with respect to distressed properties of all types, including leasing, management, financing and property and loan sale transactions.
We are equally adept and have a wealth of experience in other areas. For example, in the retail context, we are familiar with the leasing and development challenges posed by current market conditions, including the matrix of co-tenancy, exclusive, signage, sales volume, REA and related leasing and development issues. We are sensitive to the intricacies and eccentricities of retailers, as well as their counsel, and have negotiated multiple lease and sale transactions with most national retailers. We provide significant value added to our clientele’s retail portfolio.
In the office and industrial context, we are well-versed in dealing with the demands of prospective and current tenants, including the expectations of obtaining expansion, contraction and termination rights, of receiving security for improvement allowances and of negotiating rights of first offer and first refusal. We are also frequently involved in restructuring leases with struggling tenants. In the build-to-suit context, we are attuned to market trends and incentive structures aligning the interests of users and developers to create effective “win-win” cost and operating arrangements.
Our extensive land use practice supports these and other product types. We have extensive experience in entitling, evaluating, and managing development projects of all types, sizes and complexities.
We have assisted various developers, corporate and non-profit clients, including bank clients, from “soup to nuts” in development of nearly 25 million square feet of projects in over 40 different jurisdictions.
Development of a 27-story high-rise condominium in downtown Minneapolis, Minnesota.
Development of a 7-story mid-rise condominium in St. Louis, Missouri.
Development of numerous suburban Chicago, Illinois condominium and apartment projects involving hundreds of residential units.
Development of a 145-acre light industrial park in southern New Jersey, including negotiating joint-venture documents for the development entity, a redevelopment agreement with the local redevelopment authority, and construction and use agreements concerning a 400,000 gallon water tower serving the industrial park and neighboring communities.
Representation of institutional lenders and borrowers in over $200 million in work-outs of office, industrial and hotel projects, including negotiation of pre-work-out and forbearance agreements and loan modification agreements, disposition of borrower assets, coordination of bankruptcy court, title and survey, leasing and property management matters.