COMMERCIAL ACQUISITION AND SALE

Sophisticated office/retail transactions

Represented a national telecommunications provider in the $55 million sale of an office building in downtown Oakland.

Represented a client in the $50 million sale of an office building in Orange, California. (2016)

Provided real estate counsel on a $43.5 million asset purchase deal for a major equipment manufacturer. (2015)

Represented a client in the $25 million sale of an office building in Chantilly, Va. (2016)

Represented a major California telecommunications company in a $30 million sale and partial leaseback transaction. (2015)

Represented a major financial services company in the $11 million acquisition of a major office building in St. Louis. (2015)

Negotiated the $12 million sale of a manufacturing client’s corporate headquarters, including leaseback of facility post-closing and the sale of certain equipment/personal property as part of transaction. (2015)

Represented a Chicago-area no-kill shelter in the acquisition of an adjacent property, a former garage, including appraisal and an environmental report.

Represented a bank in a $14.5 million acquisition loan made to two tenants in common who were co-borrowers on the transaction. The loan funded the purchase of two apartment complexes in Cape Girardeau, Missouri. In addition to the acquisition, a large portion of the loan proceeds were held back for capital improvements. (2015)

Transactions to support mission-critical business goals

Represented a major biotechnology company in the sale of a former glass blowing facility with various environmental concerns. As part of the successful sale, we negotiated an environmental indemnity agreement where the client agreed to perform post-closing remediation work and provide an indemnity for a certain period of time, after which the buyer would assume full responsibility for the property. (2015)

Represented the lender in a $6.5 million acquisition and construction loan to acquire and rehabilitate an existing supportive living facility in Northern Illinois. We closed in a tight timeframe and were able to work with the property owner, seller and property operator on mutually agreeable documentation on all facets of this transaction, including the subordination of seller financing. (2016)

Complex projects

In a complex three-year matter that involved obtaining a TIF from the City of Chicago, we represented a client in the acquisition of $45 million in loans collateralized by eight retail property sites across the Chicago area and northern Indiana. The transaction included due diligence of all eight properties — including review of title, TIF documentation, developer agreements, and zoning — deed-in-lieu agreements, deed-in-lieu-of-foreclosure, and the sale of three properties. (2015)

Represented a trust company in the sale of a remaining parcel owned by the trust company as the trustee for certain bondholders. The transaction involved title clearance, exempt tax status issues regarding real estate taxes based on a lease to church, numerous city inspection issues, and escrow and buyer agreements pertaining to new water meters and lines. (2016)

Represented two tenant-in-common owners in a 1031 exchange transaction involving the sale of relinquished properties in Hawaii and replacement property with tenant-in-common interest. The transaction involved the coordination of the 1031 exchange, substantial due diligence on various potential replacement properties, lease analysis of various triple-net leases, and preparation of TIC agreement per IRS guidelines. (2016)