"Kelly Noll is an outstanding lawyer. She is a trusted adviser and is highly skilled at understanding clients' business objectives before applying legal analysis." - Benesch client, Chambers USA
With significant experience across the real estate landscape, Kelly is a go-to advisor on high-stakes deals throughout the U.S. Handling hundreds of millions of dollars of complex transactions each year, Kelly represents some of the world’s largest and most sophisticated real estate investment trusts (REITs) and private equity funds, and numerous institutional investors, developers and commercial real estate owners in wide-ranging commercial real estate matters.
Kelly handles commercial property acquisitions, finance, development, redevelopment, leasing and dispositions across asset classes. She conducts real estate due diligence investigations, negotiates and drafts development agreements, represents clients in mortgage loans, mezzanine financing and recapitalizations, advises on joint venture agreements and entity restructuring, and handles retail and office space leases and issues regarding distressed properties.
She is especially experienced in mixed-use assets, their development and redevelopment and the parcelization of large shopping centers, which involves complex leasing, title, survey and zoning analysis. Kelly structures and negotiates programmatic outparcel sales while protecting the remainder shopping center owner and also represents clients selling their shopping centers and retaining valuable outparcels.
Analyzing issues with a focus on her clients’ specific business needs and goals, Kelly navigates deal complexities and helps clients assess and manage risks, overcome hurdles, leverage opportunities and further their overall objectives.
As the Pro Bono Committee co-chair, Kelly oversees and coordinates Benesch’s pro bono efforts throughout the firm, including collaborative initiatives with clients and community service organizations. In addition to representing clients directly in cases, Kelly trains attorneys on pro bono matters and supervises their work.
Representative Experience
- Represented a client in the purchase of a shopping center in Colorado Springs, Colorado, including negotiating tenant build-out and permitting issues and securing protections related to REAs and roadway maintenance.
- Represented a publicly traded REIT as buyer’s and landlord’s counsel in a more than $22 million sale-leaseback transaction involving five auto repair properties in Nebraska, Tennessee, Illinois and Alabama.
- Represented a publicly traded REIT in a $150+ million acquisition of 23 strip shopping centers in Georgia, North Carolina, South Carolina, Arizona, Texas, Virginia and Indiana.
- Represented the largest U.S.-only owner and operator of last-mile industrial real estate in the sale of 6 industrial properties located in Minnesota for about $92,000,000.
- Represented publicly trade REIT in connection with a sale-leaseback transaction in which it acquired five Christian Brothers Automotive sites in Ohio, Florida, Illinois, and Nebraska for $21,000,000 +.
- Represented Four Corners Property Trust, Inc. in its acquisition of an Outback Steakhouse property located in Lawton, OK for $1,572,000.
- Represented Blackstone in connection with its acquisition of a portfolio of 228 mortgage loans from Atlantic Union Bank for approximately $2 billion.
- Represented publicly traded REIT in connection with its $9,590,000 acquisition of three properties in Louisiana, Alabama, and Colorado leased to an automotive repair company.
- Represented guarantor and its subsidiary borrowers in connection with a $530,000,000 syndicated mortgage loan secured by a portfolio of 35 shopping center assets located across the nation.
- Advised a leading international investment and management firm, performing all diligence and related needs for their purchase of loans in default for a total of over $600 million and subsequent foreclosures of more than 70 properties in California.
